First National Mattress Now Open for Business

Morning folks!!


Passive aren't we? That can't happen. They wouldn't do that. That's
impossible. That could never happen here. People would not stand for that.
That's impossible. That's impossible. Keep telling yourself that and maybe that
will be like clicking your heels in Oz and stopping it. Now let's chant it together.

The state of California can't/won't send refund checks for at least 30
days. Now chant the above line. That can't happen. They wouldn't do that. That's
impossible. That could never happen here. People would not stand for that.
That's impossible. That's impossible.

Iceland collapses. Sing..... That can't happen. They wouldn't do that.
That's impossible. That could never happen here. People would not stand for
that. That's impossible. That's impossible.

Mexico is near collapse Sing....That can't happen. They wouldn't do that.
That's impossible. That could never happen here. People would not stand for
that. That's impossible. That's impossible.

Plug in whatever event you like. Banks, brokerages, car makers, countries,
states, cities, retail chains, You'll be busy all day. All the things that can't
happen that already have happened and more is happening at such a rapid pace
NOBODY can keep up with it. NOBODY can figure out where it is going. NOBODY
knows what to do to stop it. Worst of all the folks in charge of fixing it are
all a bunch of crooks. The CEO's are busy lining their pockets before the ship
goes down while going on camera saying things are great. The legislators are
busy covering their asses by passing new bills that will obscure the other stuff
and while they are at it their job is to make you and me pay taxes and lock us
up if we don't while they conveniently forget or didn't know and then pay
without the interest and penalties that we have to pay. So the crooks are in
charge and so they get Blago and they get Madoff probably just as a decoy to
keep the attention off of them. The crooks are in charge and now they are about
to screw you even further. Let's all chant That can't happen. They wouldn't do that. That's
impossible. That could never happen here. People would not stand for that.
That's impossible. That's impossible.

I was scared to say what I thought in the summer because folks would think
I was crazy. How do you tell folks you are moving your $$$ out of Wachovia when
you fear it will collapse and nobody anywhere is suggesting such things? You
don't. But quietly that money left Wachovia. I am not much of a chanter. I just
try and do things before there is a need to do them. Maybe part of that is
living in Florida. You MUST be prepared for hurricanes in season or else. No 2
ways about it. So being down here gives a certain mind set.

Last month I made a post and said that 'Your favorite restaurant will go
out of business' I added the word 'maybe' after it because even just a month ago
I thought people would think I was crazy to say that. Then a few days later I
took a ride and I began to see just that. Restaurants, GOOD restaurants doing
business were closing. Who and when are the 500 Circuit City stores that may sit
empty for years have another business in it? McDonalds may be doing well but I
bet they close stores that are under performing. This is just the beginning of
the collapse not the end of it. This is just a pre-storm squall. The main part
of the storm has yet to manifest itself. The fallout has yet to manifest itself.

So here we are and things economically are going to get dire before they
get better. As I mentioned last week, the $250k insurance on FDIC expires on
12/31/09. To me, THAT is a big deal. They may extend it, they will be forced to.
But just the fact that they did that has me questioning many things. The only
thing keep us afloat is what confidence we have left and if that should
wane........watch out!

How long will it be before we wake up and hear the banks are all closed for
a week? Or there is a run on the banks and it gets out of control? See you need
to ask these questions BEFORE they materialize. Crazy you say! The chances are
you are right. But that does not mean that the hurricane that comes is not worth
preparing for even tho the danger of damage and injury may or may not be
present. You can't prepare once it is too late. But you can always chant That can't happen. They wouldn't do that.
That's impossible. That could never happen here. People would not stand for
that. That's impossible. That's impossible.

My friends, we have been robbed. That is the short and skinny of it and
what we are watching is an epic cover up as not only were we robbed but now the
pricks want our $$$ to try and fill the banks up again. When was the last time a
bank forgave a loan it made to you?? But that is exactly what is happening. We
are now allowing THEM to default and fund that default with our money and
retirement funds as they change the rules on you and me in the middle of the game and tighten up while
doing the exact opposite themselves.

There is a tornado on the radar. It may hit, it may not. I bet you get your
family to safety first and then worry about whether it hits or not later. You
prepare for the worst and hope for the best. That's the deal.

So I write this. I believe this. I sincerely hope I am wrong and by springtime the flowers will bloom and all will be well. I want that too. So I wrestle with pulling the trigger to post
it or just saving it for my own. If I save it for my own I don't have to deal
with any fallout, On the other hand, this is what I see and this is what I am
preparing for. While I don't suggest putting your $$ in your house or under your
mattress as that has great risk as well by fire or robbery, I do suggest having enough cash money or other instruments
in other places than a bank to live on for 6 months to a year. Before it was
just diversify in stocks. Today you have to diversify your cash. Some think the
stock market can't go down further. I tell them take a dollar and cut it in half
you have 50 cents. Cut it in half again and you have a quarter. Let me know when
you can cut it in half and get to zero?

Have a GREAT Day!

Rick Schwartz



5 thoughts on “First National Mattress Now Open for Business

  1. RegFeeNames.com

    Great Strong Post Rick!
    I agree with you, I hope it doesnt happen but looking at things and seeing what has happend Im sure things havent hit bottom yet!
    I have seen some increase in certain areas in the construction industry but still lots of panic going on in the industry today alone – I know of two large private companies that are really struggling they employ over 100,000 people but still we all need to wait and see.
    As for the banks – This shall stay in my mind for a long time – They never HELP US! NEVER unless there is something in it for them and what happens when they need our help – The governments from all over the world bend over and say yeah we shall bail you out – HOW MUCH DO YOU WANT!
    Still anyone that wants a loan or a mortgage still get told NO!
    Have a solid business want to buy your competition that is failing – Doesnt matter how good the figure are the banks are saying NO!
    Even though they have the cash in there hands – Our Cash that is!
    Regards,
    Robbie

    Reply
  2. CC

    I really enjoy your views and am glad to see you posting again. I am not sure why our culture gives the banks permission to do the immoral things they do and then call any singular entity doing something milder a crook. It’s baffling? Just watched a video on cnn last night, calling people mortgage squatters who are following the laws, while the banks had doubled their home payments??? Thanks for going out on a limb, and taking the heat.
    Way off topic, but I have learned soo much from you, just wanted to say thank you!!! Also, just sold my first Big$ .mobi, got the check today :)

    Reply
  3. M. Menius

    True. This is a”Great, strong post” (Robbie). Rick reminds us to tune in to reality. Lots of uncertainty out there.
    “Hope for the best, but prepare for the worst” is a rather famous quotation that has special relevance right now. To me, folks need to be very careful to avoid overusing credit. That’s the house of cards that comes crashing down.
    Be in cash. Eliminate high interest debt. Manage costs carefully. Diversify investment portfolio. Take advantage of refi rates.

    Reply
  4. Geek Heaven

    Another great post in which once you get past all the ‘spin’ they (the media) are trying to sell you, it really is time to buckle up and take care of yourself – personally, I never cared for Circuit City, the stores always seemed dirty to me – but I do feel for the employees.
    I too feel that it will get worse before it gets better, but in that time there is opportunity…

    Reply

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