Days Away From Economic Chaos?

[MikeyPooh]

Keeps like $150K in his checking account (he's in his 40s and still lives with mom and pop).  Last winter when B of A was teetering, I suggested that maybe he ought to move some money elsewhere.  His response was literally, "FDIC insurance, baby."  When I tried to explain that the FDIC did not have enough money to cover deposits if B of A went under and he at a minimum might not have access to his money for months, he just laughed me off.

Well then that's the penultimate example of what you get when you reach then end of "our system." 

An infantile, braindead human...and a fucking cocky one at that. 

"Ha ha, they'll never take MY money, so long as I live with my mommy and daddy!" 

"Nothing can ever hurt meee!  Na na na na naa naaa!"

[Grower]

The ultimate example, then, being watching his head spin off when his money evaporates.

[advancedatheist]

See, "Austrian" economists depend on catastrophizing the future to try to promote their fringe ideology. Yet they dismiss Peak Oil forecasts as "doomsaying."

In other words, they want to own the capital-C Catastrophe; it doesn't belong to those other guys!

[nomore]

The "unbanked" ?

Hereʻs my WAG on at least 2 categories of the unbanked:

1. People who pay most of their living expenses in cash (rent, food, gas, etc.) and, if they are receiving any sort of income via check (paychecks, unemployment, etc.), just cash those checks somewhere. They may also qualify for food stamps (EBT cards or whatever itʻs called in your state) and maybe housing assistance. Iʻd say most of these people are barely hanging on economically, or are on their way to complete destitution. Some may be addicts and spend their money (whether ill-gotten or not) on the next fix instead of living expenses.

2. Survivalists, hard-core PO doomers, etc. These folks, for whatever reasons (and most of their reasons are probably valid), do not trust the banking system and keep their money out of it.

Group #1 doesnʻt have enough money to make dealing with the banking system worth their time and effort.

Group #2 doesnʻt trust the banking system.

To answer LuckyLarryʻs question: Group #1 keeps their money in their pocket or laying around their residence for a few days (or few hours) before they have to spend it. Group #2 keeps their money creatively hidden. Group #2 also stores value in other assets such as PMs and other hard assets (ammo, food, land, tools, etc.).

Sorry for stating the obvious. Bored at work right now. . .

I understand that some of the unbanked are also illegal aliens (though there are less of them now then there used to be thanks to fewer available jobs) and people engaged in 'criminal' activities (like drug dealers and mafia types though given the behavior of those on Wall Streets etc it's not exactly fair to imply that what they've done is not criminal/illegal)

[elliemae36]

HEY. There will be no collapsing on my birthday.   

Happy belated birthday Grower.

I just read Chris Martenson's article aloud to a friend today.  I sent it to him before Guaranty closed on Friday.  After that - he still had not read it.  So, I read it aloud to him.  He's generally a happy-go-lucky guy who laughs aloud at stupidity.  When the DIF explanation came... he really stopped laughing as much. 

I ask again - as on other threads - how do you get the general public to care and listen - before the bread/soup lines... before the rural retreat target practice begins??

Truly, I'm open to suggestions.

[Grower]

Thanks -- it's Tuesday -- the day the FDIC report comes out.

[Brill]

I ask again - as on other threads - how do you get the general public to care and listen - before the bread/soup lines... before the rural retreat target practice begins??

Truly, I'm open to suggestions.

I've tried facts, emotion, statistics, anecdotes, graphics, videos... the only thing that got people's attention was $4/gal gas, but that was temporary, and so was their attention! 

I' open to suggestions too.

[Bill Hicks]

I ask again - as on other threads - how do you get the general public to care and listen - before the bread/soup lines... before the rural retreat target practice begins??

Truly, I'm open to suggestions.

I've tried facts, emotion, statistics, anecdotes, graphics, videos... the only thing that got people's attention was $4/gal gas, but that was temporary, and so was their attention! 

I' open to suggestions too.

Forget it.  For every fact or statistic you spout you have to overcome hours of MSM propaganda watching on their part.  As I tell the few people I know who are at least open minded, you should ASSUME that EVERYTHING you see and hear on CNN and other networks is a lie until it has been PROVEN true.

Even then, I get only a little traction.