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There are may ways to answer this question. I will do my best.
1. Bank runs occur on fear so we can assume average people will give into that fear. The media usually creates this fear. This is because the average individual does not know enough about how banks do business. Anytime there was bad press on a bank people started to close their accounts. Before Indymac failed many people thought the large banks were "to big to fail". There have been silent bank runs occuring at many institutions. Without inside information I find bankrate.com is very accurate and helpful. You can look up any bank and there is detailed financial information to back-up the rating. So far it has been 100% accurate knowing who is in trouble.
Knowing if a bank run is occuring is not going to help you with today’s issues. You are better off enjoying life knowing you are prepared for whatever may happen.
I agree networking is a great tool. I am in Oregon…. so a little far 🙂
We are both mortgage adjustors for Wells Fargo bank. (I guess I don’t need to tell you we are busy haha)
Currently we have no debt and have about 30k in savings. (Not including our retirement accounts/life insurance) We both have degrees in business finance/accounting.
The textbook definition is a significant decline in these measures:
1. GDP ( is negative for 2 or more quarters)
2. Real Income
3. Industrial Production
4. Wholesale-retail sales
In college I was taught a decline of 10% or more in GDP signals a depression. These are the factors the media uses. Who knows if we can really trust the information we are given. Did you want the equations for each one?
How much land where you wanting to purchase?
What kind of home are you looking to build?
I am in your same situation. Let me know if this sounds like a reasonable plan. We are renting right now, but are going to buy about 10 acres of vacant land. We are going to pay cash for the land and take 2 years to build the cabin. I really hope to pay as we go with no financing. At that point we can stop our lease and move in with no payments for the new property. I know alot of people are against renting, but this seems like it could work saving us alot of money. What do you think?
I have also thought about this….I believe we do not see lawsuits for 2 reasons. 1) The american citzens could sue many members in government for blackmail, conspiracy, money laundering, fraud and lying amoung other things. We don’t because of fear. True we feel an obligation to do the right thing and bring these issues to light. However, once we have a life that is worth protecting (our family, jobs, lifestyle) we let it go. We would not want to bring negative attention to ourselves. Deep down we know they have the power to destroy every aspect of our life. I believe this is the same for your question. The government would not want to start lawsuits there would be to many to count. If you had individuals that feared nothing and had nothing to protect the government would have many lawsuits against them. 2)The government would not want to deal with the consequences if freedom of speech was ever questioned. I could not imagine the uproar that would cause in our country. We have to remember we still fund all of their campaigns 🙂 Therefore we don’t sue them and they don’t sue us. It is a fear trap.
Thank you for posting this article. I am glad freedom of speech can be found in some media networks. It is harder and harder to find "big-picture" information.