Thanks NoiseyGirl, your discussion got me thinking…

As we get hit harder and harder in this economy, the ONLY thing separating middle from POVERTY (not lower) class is our homes, - and they are under siege and our jobs. Soon the moratorium on foreclosures will cease and as the unemployment rate continues to rise, you will see more and more violent incidences and a resurrgence of the 80’s (remember DC used to stand for Dodge City?). As a community, we will have to really buckle down and get ready for a helluva ride. The middle class is becoming an endangered species.

We need to save, and I mean really save. Save that Louis bag you want for later, and stash that cash. Save that new whip you want and stash that cash. Stop popping bottles in the club, get your buzz in the car before going in the club and stash that cash. If you’re living the motto, “it ain’t tricking if you got it…” soon, you won’t have it, stash your cash. Stop eating out and dropping $150 on dinner and buy some damn groceries and eat for a week – and I won’t even TOUCH how the cost of groceries have skyrocketed. Just save your money, stash you cash.

We are experiencing the worst financial crisis since the 1930’s, 533,000 people have been laid of in November alone, 2 million jobs lost since the beginning of this b*******, and they predict another 3 million of us will loose our jobs in the next two years. Housing, credit and financial problems persist; consumer spending fell by 1.7% last month and energy prices are getting lower and lower (notice the price of gas?), these things signal a deflation, which also adversely affect our incomes (IF we have jobs) and corporate profits (which decide IF we keep jobs).

While the Feds are about to slash rates AGAIN, it may help ward off a deflationary period for a while, but it doesn’t help us directly because at this point, many of us have jacked up our credit with a couple of late payments on credit cards, and in my instance, my credit card limit was REDUCED for NON-ACTIVITY!!!! Sure, you can now refinance that McMansion you bought a few years ago, but if you’ve been late on that mortgage, or that BMW payment, you won’t be able to reap the benefits of that. Unless the Feds do something to help those already hit by the recession and put measures in place which will allow EVERYONE to take advantage of the benefits, the s*** is REALLY going to hit the fan.

Views: 13

Comment by Sugar on December 16, 2008 at 1:11pm
So true BD so true.
Comment by WorkingBlue on December 16, 2008 at 1:11pm
One of my girlfriends just called to tell me they repo'd her car because she missed this last month's payment. Her husband couldn't pay it because his car note alone is like $600 (he has really bad credit). They both live with her mother. It could be the economy or it could just be her bad karma (she's been cheating on her husband since they got married, most recently with her boss and her hub's bff) but either way this crisis is hitting everyone hard. I can't tell you the last time I did some serious shopping.
Comment by Sissy on December 16, 2008 at 1:17pm
Well written. The crime is definitely going up. It's sad because the family of the man who killed the bus driver in NY a few weeks ago said that he had a short fuse after being laid off...he probably killed him because he didn't have the money for a fare.

smh
Comment by Sexychick123123 on December 16, 2008 at 4:18pm
Dam times are hard... Soon more and more people are going to start actin crazy.... and thats when s*** is going to get real crazy. Riots etc more home envasions.... The only thing we can do is pray....
Comment by Chocolate Drop on December 16, 2008 at 4:36pm
If she's sleeping with her boss & hub's bff it's no way her car should have gotten repo....that don't make common sense!!!!
Comment by Holly-Would on December 16, 2008 at 5:23pm
Merry Christmas
Comment by Ishtar on December 16, 2008 at 8:24pm
Hopefully, things won't get much worst than this.... What we are seeing are the loose ends being shaved off (sort of speak)... prices and inflaction / cost of living are coming back down to reality from it's inflated hiatus. Unfortunately many will suffer during this transition. Unexplored natural resources in the energy industry, science and technology will probably be the new venture for both private and the government industries in the coming years...

@ Choco Drop, it makes perfect sense, she trickin' for the trill of it.
Comment by Empowered Woman aka $picey on December 16, 2008 at 11:59pm
lol @ Lady Diamond....... it's the new economy, less is more now.
Comment by Justis on December 17, 2008 at 3:36am
Without an inch of doubt that's a shrewd post. This is a transition phase and theres hope at the other side although it will get worse than this but it shall correct itself. In this era, rich shall become the new broke and the only way to survive times like this is to adjust lifestyle (cutting down on those luxuries, observing polities carefully and of course being close to God almighty).
Comment by she-who-rocks on December 17, 2008 at 12:05pm
Get rid of all credit cards and learn to live by cash. Pay you rcar asap, and your house asap. Then you will have more flexibility when it really hits. cash is king, keep cash and budget. All I can say is budget and hold to it for now. They will not tell you we have been in arecession for well over a year now. They will not tell you that we are really in the beginnings of a depression. But we are.

Comment

You need to be a member of Baller Alert.com to add comments!

Join Baller Alert.com

ADVERTISEMENT

Connect


BallerBoards

Usher Raymond IV

Started by QueenRaymond in Talk Ish. Last reply by Beautiful Brownie 11 hours ago. 1 Reply

ok so I'm trying to make peace with a re-occurring ideology that I have been stalking Usher Raymond IV. We all know that he entertains and that is how he makes his living. Since 2012 I have been…Continue

Tags: Usher

A bit rusty, need BALLERIFIC advice

Started by V in Talk Ish. Last reply by HeyMia yesterday. 6 Replies

Hey yall. I notice a decline in the comments on BA lately but...I'm hoping for some advice. I ended my real relationship mos ago, took some time to get my mind right, and I simultaneously just met…Continue

BA reality show...Baller B******!!! lol

Started by AllyNWonderland in Talk Ish. Last reply by Philly Debutante since '88 on Thursday. 53 Replies

Ok so I know in a previous discussion I said something about a reality show but with all this exposure BOSS is getting with BA I'm thinking now we start making it official....lol I'm saying, i'm not…Continue

Sex tapes

Started by The real vixxen in Talk Ish. Last reply by Moving In Silence on Wednesday. 29 Replies

Would u do it? And how would u feel if someone recorded you with out ur knowledge?

Latest Activity

willson350 posted a status
3 hours ago
willson350 posted a status
4 hours ago
willson350 posted a status
4 hours ago
Selena commented on CrisdaCat's blog post How To Break the Living From Paycheck to Paycheck Cycle - blogged by @CrisdaCat
"So true"
6 hours ago
EmpressSoDivine updated their profile
9 hours ago
EmpressSoDivine commented on Eleven8's blog post Redskins Desean Jackson Expecting A Baby
"@LES Same thing I was thinking...."
9 hours ago
EmpressSoDivine liked CrisdaCat's blog post How To Break the Living From Paycheck to Paycheck Cycle - blogged by @CrisdaCat
9 hours ago
EmpressSoDivine commented on Eleven8's blog post Another One Bites The Dust: Osi Umenyiora Marries Leila Lopes In Angola
"Lmao I was reading the original post this past weekend. Congrats to them!"
10 hours ago
Danielle Prince updated their profile
10 hours ago
Beautiful Brownie commented on Eleven8's blog post Bruce Jenner RepGets Another Secret Surgery
"He has had gender reassignment surgery but he's not "gay", he still only likes women…"
11 hours ago
Eleven8's 5 blog posts were featured
11 hours ago
Beautiful Brownie replied to QueenRaymond's discussion Usher Raymond IV
"You're in the wrong place.  Go to your nearest law enforcer, they can tell you exactly…"
11 hours ago

© 2015   Created by Baller Alert.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video