Re: Is your savings in shares of ExxonMobil or Fannie/dollars ?

In news:sci.physics, Jeff?Relf <Jeff_Relf@xxxxxxxxxxxxxxx> posted on
25 Sep 2008 22:56:38 GMT:

Is your savings in shares of ExxonMobil, Fannie Mae, Google,
U.S. dollars, Euros, Swiss Francs, Norwegian Kroner, Yen,
Mexican Pesos, Brazilian Reais or gold ?

Savings? I have no savings. All my credit card bills are five months
behind and my checking account is $300 in the hole. That's because I
can't trade enough time for money to have enough cash to start a
savings account.

If it's dollars, perhaps you should ? dump** ? them.
** i.e. trade them for something else, taking the loss.

When all the money you earn is earned by the hour, a dollar is a
dollar, no matter what it value is to a capitalist. What hurts us is
when hours get cut at work. We have fewer dollars. Then when prices
go up, we run out of money more quickly because it takes more dollars
to buy the same items. Eventually that causes us to have to go into
debt, if we can manage to acquire debt with our income levels. If we
can't get debt, we just become useless bodies, doing nothing to
convert natural resources into wealth because we have no money to
spend to stimulate that process.

Instead we become bad debtors and banks suffer as a result, leading to
what's going on now.

Damaeus
.

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