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Americans unload prized belongings to make ends meet

news.yahoo.com — NEW YORK - The for-sale listings on the online hub Craigslist come with plaintive notices, like the one from the teenager in Georgia who said her mother lost her job and pleaded, "Please buy anything you can to help out." Or the seller in Milwaukee who wrote in one post of needing to pay bills — and put a diamond engagement ring up for bids

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  • theNazz, on 04/30/2008, -2/+60The only way to 'buy American' is to shop at rummage sales and used EBay listings. It started from the steel of the east coast, slammed the Midwest automotive industry, and ended with the blue jeans of the west coast. Sad, but true.
    • mikewill7seven, on 04/30/2008, -1/+7Dude your comment couldn't be anymore right. ( I live in the Midwest) and the automotive industry here is *****. Everybody is getting laid off.
      • kaiwai, on 05/01/2008, -2/+2True, but maybe one day people will realise in the US why the US has so many problems being competitive when compared to countries who have higher cost of living.
    • sinurgy, on 05/01/2008, -1/+9What's sad but true is that people spend lots of money on ***** they don't need, ***** they really couldn't afford in the first place and then end up in financial trouble. The fact they feel so entitled to do so is the crisis, not them having to part with all that *****.
      What's really sad is they likely did this to keep up with the illusion of affluence that is based on some other person who is doing the exact same thing! lol....that person you wish you wish you were wishes they were you who wishes you were them who wishes they were you who....dumbasses!! If people would learn to idolize character instead of money, then perhaps America wouldn't be so obsessed with shallow rich people.
      • KiraDnote, on 05/01/2008, -1/+3Too bad the idiots you're trying to save can't understand your simple message. The thing to spend money on is tools that will make you more productive and more self sufficient.
        • marx2k, on 05/01/2008, -0/+0Isn't that the pipe dream.. I mean.. marketing strategy for eery pricy gadget that comes out?
        • wattersm, on 05/01/2008, -0/+1That's what we refer to as "capital" in economics.
      • PhilLesh69, on 05/01/2008, -0/+4Using the internet to sell items because you need money?

        Why not cancel the $50 a month cable modem subscription? That'll save you $600 a year. Probably more than you'll make selling off all of your used junk.
    • Frnnkdlxx, on 05/01/2008, -1/+3European Royalties How To On turning America into a third world serfdom
      A. Create economic/political instability
      B. Come in, buy off all key politicians
      C. Pass legislation to degrade education structure
      D. Create endless wars as distraction away from grabbing the reigns of an out of control supereconomy
      E. Begin slowly restricting all presumed traditional constants (rights, securities, popular ideologies)
      F. Construct barriers for final phase of operations for newly enslaved population
      G. Create final economic/military crisis and watch house of cards fall

      "Oh, need a job or some extra income? The come work my pot farm slave." - Murdoch

      Creating slaves since 1780
  • bixby1, on 04/30/2008, -7/+58"This is not about downsizing. It's about needing gas money."- Sad. Dugg.
    • gojohn99, on 04/30/2008, -3/+12sad but true... sounds like me. Try also going through a divorce in THIS economy
      • frepnog, on 04/30/2008, -2/+11I currently am. Oh dear god.
        • Wargalas, on 04/30/2008, -7/+3Want me to get OJ's number for you? I'm sure we could dig Johnny up. :)
    • andy3109, on 04/30/2008, -2/+10If they are living so close to the "red" that gas is giving them problems, they are probably living above their means.
      In Somalia they are happy if they get fed..in the US, people bitch if they can't keep their 5K guitar.
      • PhilLesh69, on 05/01/2008, -0/+4$50 a month for a cable modem, $40 a month for a cell phone for each member of the family, $100+ a month for cable TV, before you even consider electric, gas, water bills, many families are shelling out almost $300 a month, if not more, for conveniences and luxuries.

        They'd never even dream of giving any of those things up, however. EVERYTHING is a necessity. They'll just eat off the McDonald's dollar menu until things get better. Too bad that's going to increase their health care expenditures in the long run.

        Being shortsighted is an American quality too many are proud of.
        • andy3109, on 05/01/2008, -0/+1exactly. Someone in trouble should be getting rid of cable, internet, AC/HEAT (unless in an extreme climate) and meals out. But Americans can't...because then they would be "suffering"
        • PhilLesh69, on 05/01/2008, -1/+1andy3109, getting rid of heat and AC is out of the question. All the other stuff is certainly discretionary, though.
          • andy3109, on 05/02/2008, -0/+1Our grandparents got along just fine w/o AC/Heat (conventional). They used fires and blankets.
          • PhilLesh69, on 05/04/2008, -0/+1People also got along just fine without medical care. They were just fine with leeches and amputation.


            When it is hot, people die. When it is cold, people die.

            Air conditioning and heating has saved many elderly people's lives.

            A/C and Heating is not a luxury, it can mean the difference between an elderly person's life, or death.
    • feonixphlame, on 04/30/2008, -2/+12here in the US, its about filling up the gas tank. in most of the world, its about filling your stomach. we have it too easy.
      • highstriker, on 04/30/2008, -1/+10Most people I know need to fill their gas tank if they want to fill their stomach... gotta get to and from work one way or another.
        • andy3109, on 05/01/2008, -0/+3His point is just stop bitching about the price of gas when your stomach is full.
    • earthforce1, on 04/30/2008, -0/+5Did it during the last .com meltdown, and was out of work in the middle of the whole mess. And when I landed another job, she went to court to try and stop me from relocating there with our son. The cherry on the cake was that she was reneging on child support at the same time! Drove me $5k deeper in debt for my lawyer to fend this off, (as I am sure it did her) but she wasn't too credible when the court date came up. At least my story had a happy ending..
    • icetigaurus, on 05/01/2008, -0/+3In a recession cash is king, especially when we are on the brink (or already in) a monetary deflationary spiral (hard to borrow money). Then we also have huge price inflation on food, gas, etc that combines to make a 1-2 punch of epic proportions.You must pay off your debts before this situation gets worse or you will end up just like these people.
      • PhilLesh69, on 05/01/2008, -0/+4Cash is king during a monetary dilution and deflation period?

        Gold is king. Too bad it is way too late to have bought gold.

        I got mine when it was $280 an ounce. Put 20% of my retirement funds in gold. My stock and muni bond portfolios suck now, but Gold has still put me in the positive quite nicely.
  • JohnFromChicago, on 04/30/2008, -14/+89This story is heartbreaking. All this money is going to pay hyper inflated gas prices, and hyper inflated food prices. In other words, the Oil companies are bleeding Americans dry to the point of selling off their stuff to survive. This is madness. This is what happens when Congress is derelict in it's duty to impeach the President. This is what happens when Americans feel powerless, and do nothing. We need to take our country back! None of this happens, not the wars, the debt, the hunger, the misery and economic disaster if we had not allowed the government to run afoul of the Constitution. By allowing our politicians to lie cheat, steal and kill, we're accepting criminal leadership. With criminals for politicians, business leaders and financial institutions, what else do you really expect? When you have no more money, what will be obligated to give then? Our children? Many of us already have. Enough!
    • xGuerrillaRadio, on 04/30/2008, -14/+14Madness?
      THIS IS FASCISM!
    • frepnog, on 04/30/2008, -25/+12you are a moron. the president can do nothing about gas prices. anyone who says differently is selling something.
      • toppgun, on 04/30/2008, -4/+15he can end the war which should bring prices down. or have the government invest in alternative energy sources. hydrogen fuel cells, hybrids, electric cars, etc.
        • keymanjim2, on 04/30/2008, -4/+6The government didn't need to invest anything to get us addicted to oil. It's up to the consumers to demand these alternatives. And ending the war wont make oil price speculators disappear. Placing margins one them will.
        • theycallmebubba, on 04/30/2008, -2/+10If you haven't noticed, one of those 'alternative energy sources' (ethanol) has GROSSLY inflated the cost of corn and some other related foods. Also, I heard that many schools are being told to 'go green' and use solar power - and their energy bills are projected to increase by over 20,000 a year because of it. Too bad we don't have much oil here in the U.S. we could use...

          Oh, wait.
          • keymanjim2, on 05/01/2008, -0/+2Need refineries.
            Need refineries BADLY.
        • twinklyJesus, on 04/30/2008, -2/+6Congress controls the price of gas. Nearly half the price of gas at the pump is tax and some nut-bag tree-hugger democrat in Michigan wants to add .30/gal MORE in tax to the price of gas!
        • VitriolAndAngst, on 04/30/2008, -1/+2@ 3 posters above;
          Keymanijm2 said; "It's up to the consumers to demand these alternatives. " The Oil and Auto industries were allowed to buy up trollies and such many years ago in order to help improve transportation. We don't have trollies in cities anymore except for San Francisco. Consumers can't get biodiesel created from Algae and Switchgrass at their pump, or hydrogen and they damn sure can't get subways and trains put in. These problems are from businesses lobbying government to NOT solve the problems.

          theycallmebubba said; "one of those 'alternative energy sources' (ethanol) has GROSSLY inflated the cost of corn" which helps out Archer Daniels Midland and Big Oil because it is the LEAST efficient bio fuel. Environmentalists didn't ask for this but they sure are being blamed for the problem. Guess what? Wheat and Rice are going up in price because we have blights (due to weather and disease) and we have more expensive energy. When was the last time Big Oil built a refinery? The ONLY f'ing thing this Bush government is doing towards "environmentalism" is forcing 10% of our fuel to be made from corn. Guess what? He and a lot of his buddies are invested in this scam. Why don't you ask him why he is using corn for fuel?

          twinklyJesus (good handle by the way) said; "Nearly half the price of gas at the pump is tax" -- yes, and do you plan to drive that SUV on a dirt road with potholes and small streams in it, or do you expect that for an infrastructure of roads you are going to need to put down pavement. If you don't want the "some nut-bag tree-hugger democrat" raising taxes, then maybe you should build a train system like keymanijm2 suggests, or maybe you can borrow the money from China. Since you don't want to pay for the damn road you are driving on.
          • highstriker, on 04/30/2008, -0/+1Your last point would hold a lot more credibility if our government didn't waste so much money. I'm extremely grateful to live in a state where the budget is very strictly controlled, but others aren't so lucky. And even here our government wastes money. An elementary school in my hometown is actually paying *16,000* dollars for an electronic sign.
            If even half the money went to building roads, or to funding other programs that benefit us, then I wouldn't mind an increase in taxes, but it doesn't.
          • twinklyJesus, on 05/01/2008, -0/+1V:
            The thing is, the taxes we pay in other ways is what pays for our roads and their repairs. How about, I shouldn't have to pay to build one pork-barrel project to avoid having my pocket picked another way. That's extortion. When gas gets too expensive, and the oil companies can't sell it, the price will come down. That's the way it works. The price of an item, or commodity should be what the market will support. When the market can't support it, the price will level out. You can't legislate prices, its been tried and it failed. If you are taxing the living ***** out of something, and your constituents think the price is too high, lower the taxes before you legislate price controls on the industry. And, who ever would think that the price is too high, so let's add more taxes to it, just showed everyone just how ignorant and out-of-touch they really are.
      • phunlee, on 04/30/2008, -4/+6I think if you didn't get to write off a Giant SUV b/c of this president and previous republican congress, there might be fewer of them on the road drinking up our gas by the ton, raising our prices. These guys made it easy for oil companies to do more business, not to mention tax cuts. He can't control gas prices directly. But little by little his policies have encouraged our current situation.
        • philipl411, on 04/30/2008, -4/+2Why are you blaming a congress that has been gone for TWO years. this high prices started fate THIS congress took over. What are THEY doing to LOWER price. Get your head out of your third point of contact. This congress is at least 1/2 to blame for the high prices.
        • VitriolAndAngst, on 04/30/2008, -1/+3Wow. The above poster makes it easy for crooks to get away with crimes. "his high prices started fate THIS congress took over" -- yeah, and they still blame hyper-inflation on Jimmy Carter without looking at the cost of the Vietnam War. Takes about two years for actions by congress to have an effect.
          • keymanjim2, on 05/01/2008, -1/+1No it doesn't That's just an excuse to blame the last congress.
            Either way, what has THIS congress done to fix, well, anything?
      • woody168, on 04/30/2008, -2/+7are you going to tell us next that the president can do nothing about the war either? you are the moron here. Get real.
      • earthforce1, on 04/30/2008, -0/+3Funny, I thought his plan involved invading Iran and taking their oil as well.
      • orbit1979, on 05/01/2008, -1/+2go choke on some "Freedom" Fries.
      • PhilLesh69, on 05/01/2008, -0/+2"you are a moron. the president can do nothing about gas prices. anyone who says differently is selling something."

        Yes. They are selling oil.

        Don't forget that one of the few tidbits of information that came out of Dick Cheney's super secret National Energy Policy Development Group meeting, you know the closed door meeting between Cheney and oil executives, was that Cheney promised the oil barons $100 oil, from the peak of $23 a barrel in 2001.
    • RomeyRome, on 04/30/2008, -1/+3You first.
    • FuzzyBunny, on 04/30/2008, -9/+39What a load of crap. Spending on gasoline makes up approximately 6% of the average American's expenses. That's up from 4% in 2002. A 2% increase in spending on energy isn't anywhere near a crisis. Do you even know what the words misery and economic disaster mean? Here in America we complain when we can't drive our SUV's 100 miles every day. Meanwhile people in Africa and Southeast Asia live their entire lives without electricity and die of starvation. You think that the only reason we're having a recession is because of the leaders we have elected today? There have been 32 recessions in the US since the 1850's. The Great Depression had unemployment rates as high as 25%. All of this doom and gloom rhetoric is reaching ridiculous levels. People need to stop running around screaming the sky is falling and actually take a look around them and realize the incredible luxury that we live in here in the US. For god's sake people, the economy actually grew over the last 4 months. Someone please explain to me how the fact that we're growing at a rate of 0.6% instead of the usual 2% is a sure sign that the end of civilization is at hand.
      • Rioracer916, on 04/30/2008, -15/+6BS, THIS average American spends 11-12% of his expenses on gas. And it is still cheaper to commute than it is to get an apartment closer to work. Funny how that works.
        • FuzzyBunny, on 04/30/2008, -1/+12Your anecdotal experience is not representative of everyone else.

          http://money.cnn.com/2008/03/11/news/economy/gas_p ...
        • Buzzbean, on 04/30/2008, -0/+6Anyone can spend less than they earn. You just choose not to. Before you say you can't choose not to, yes, you can. You just need to reorganize your priorities.
        • PhilLesh69, on 05/01/2008, -0/+3I agree BuzzBean. However, most people are too easily influenced by marketing and peer pressure. They don't think enough for themselves to understand what matters to them and what others are trying to get them to do.

          It is very easy to live below your means and still have a satisfying and rewarding life. But too many people don't have the strength of character and moral courage to live the way they want.

          I make about $75,000 a year. I bought a townhouse in McLean, a 10 mile drive from my office in DC, a block from the White House, for $410,000 in 2002. I've since paid it off, and now only need to pay my utilities and property taxes for a place to live (so it costs me less than $600 a month to live in what now is valued at $730,000)

          I drive a used mercedes E320. I paid cash for it. I just have to pay for fuel and maintenance and parking ($20 a day across the street from the MPAA).

          I only use a Visa check card, have no credit cards and no home equity lines of credit, or anything.

          I can go to Europe for 2 weeks, fly business class (through upgrades from frequent flyer miles), stay in $400 a night hotels and see palaces, museums and go to night clubs in Milan, Paris, Munich, London, Dublin, etc, 2 or 3 times a year.

          Anyone with any sense could live the way I do, in middle america with an income of $35,000 or $40,000 a year, easily (of course, they would be living in a comparable house they paid $100,000 or $200,000 for)
          • Nodaki, on 05/01/2008, -0/+2You are obviously single with no children.

            I certainly understand your point though.
          • PhilLesh69, on 05/02/2008, -0/+1True. And that was partially a financial decision (and a choice for personal freedom).

            However, if I were married and had children, I may not have my townhouse completely paid off, but I would only be slightly less well off than I am now. I figure I would most likely not be spending $60 a night on dinners at nice restaurants 3 or 4 nights a week, or taking extravagant vacations, at least not as often.

            The key is living BELOW your means, unless your means is already so low that you can barely buy food and pay your rent. Anything above necessity should be carefully thought out. Do you really need that 52 inch flat screen for your guest bedroom? Do you need to drive that brand new car even though the one you bought 4 years ago is still running fine? Do your kids get every new and expensive gadget and toy they want?

            The easiest way to stay below your means is to have a credit card ONLY for emergencies. In fact, don't carry it around with you, keep it locked away at home for things like major car repairs, or to pay for a hotel if your house burns down or something. Everything else you pay with what you HAVE.

            If you only buy things using money in your pocket or checking account, it's pretty hard to spiral into crippling debt.
      • KSUdesigner, on 04/30/2008, -4/+12It does not matter what percent of an average person's income gas is if the average person is already spending close to 100% of their income.
        • twinklyJesus, on 04/30/2008, -0/+8If they are, it is by choice, on items other than gas.
          • nick111, on 05/01/2008, -1/+2Well no actually. The bulk of money goes on things where there is no choice. Interest, tax, insurance, transport, food, fuel, water, electrcity, bank-charges, phones, internet etc etc.

            You're attempting to blame victims - be careful with that because there are rough times ahead by the looks, and there but for the grace of god go you.
          • FuzzyBunny, on 05/01/2008, -0/+2People don't have to have phones. People don't have to have Internet access. People don't need more than a handful of quarters for bus transportation. This is the absurdity of the discussion around finances and poverty in America. Our lifestyles have inflated to such ridiculous levels that things that are unimaginable luxuries to billions of people are considered necessities here. The average household income in the US is $44,000. The average income worldwide is less than a tenth of that, yet we still sit here on our high horse and complain about "how tight things are".
        • philipl411, on 04/30/2008, -1/+9The average person spend close to 35% to 55% of their income federal, state, county and local taxes and fees. Get the government out of people lives and people will have more to spend
          • nick111, on 05/01/2008, -2/+1That's patent nonsense because you'll wind up spending more on privatized services that the state no longer provides.

            But hey, what do I know? I come from a country that paid me a grant to go to university - instead of graduating with a loan that takes decades to pay off, I travelled for a year. All New Zealanders used to do that - though I'm not so sure they do now... now that they've decided to saddle their kids with debt as soon as they enter the world.
          • PhilLesh69, on 05/01/2008, -0/+3nick111, believing that a country cannot fund things without taxing the labor and production of its citizens is the truly patent nonsense idea.

            Government can fund itself quite well with excise taxes, tarriffs, land use fees, sales of natural resources and the taxation of business.

            When you really start to try to figure out where all the money the government takes in actually goes, it boggles the mind. Income tax is minor, it barely scratches the surface. Think about all the ways local, state and federal governments make money. Licensing, property taxes, personal property taxes, sales taxes, regulatory fees, professional licensing fees, titling fees, incorporation fees, consumption taxes, transportation taxes. It is almost impossible to list every point where the government charges for something.

            For example, instead of the government granting oil drilling rights, wouldn't it benefit the people more for the government to do the drilling itself, and selling the oil at market prices? But, no. We live in a corporatocracy, so the oil companies would rather spend a few million dollars buying a legislature and a presidency that will hand all of that revenue over to them.
          • philipl411, on 05/01/2008, -0/+1Gee nick, with logic like your, why not just take everyone money and pay for everything. Oh wait, that's been tried wasnt very successful
      • phunlee, on 04/30/2008, -10/+5Are you better off now than you were 8 years ago?
        • cjnkns, on 04/30/2008, -1/+4That has nothing to do with it. I was better of yesterday that I am toda. Or for that matter I am better of today than i was a year ago.
          The econmy and works in larger cycles than that. Not only that it is affected by just about everything you can think of.
          So just becuase I was better of 8 years ago (which honestly I wasn't ) doesn't mean a ***** thing.
        • philipl411, on 04/30/2008, -0/+8Yes, by leap and bounds. My wife and I have more than doubled our income
          • PdxPhoenix, on 04/30/2008, -0/+2Doubled your income? Great... Now, what about your expenses?
          • philipl411, on 04/30/2008, -1/+7we have always lived below our means, we can afford a $800,000 house, we live in a $300,000 house. our cars are paid for for the past three years. No, we don't work hard. We work smart.
      • JohnFromChicago, on 04/30/2008, -3/+12Sorry fuzzy bunny, but it's not just waht you pay at the pump. Literally everything in your life is brought to you on a truck. So when diesel goes to $4 a gallon, it affects the price of everything ... food, clothes, everything. Throw in the ethanol debacle and you have hyper-inflated food prices. For many people who squeak through the month every month, it's the straw that breaks the camel's back so to speak.
      • VitriolAndAngst, on 04/30/2008, -0/+2That fuel price may be 2% higher for driving the car. It is 20% higher for Producer costs (it will be about 40% pretty soon, as the new costs get passed on). I think we pay about 12% on food. So that would be 15% now. Add in anything else you think, might be affected by the price of fuel. OK -- it might be easier to add in anything you DON'T think will be affected by the price of fuel.

        Oh, and you may have noticed a huge spike in the cost of diesel. That's because the military is buying up fuel for the war in Iraq ahead of what they predict to be north of $140 per barrel. So let that sink in a little.
      • commernie, on 05/01/2008, -1/+4Yeah, all these people are selling their personal possessions because they want gas to drive around in their SUVs. It's not unusual for people who have it easy to think everyone must have it just as easy.
    • PlutoPrime, on 04/30/2008, -8/+3*****. And I was trying to spit a wise ass sparta comment... Thanks a lot GuerillaRadio... you ruined my day
    • walt00, on 04/30/2008, -2/+7gas prices are not increasing because of a sudden increase in per barrel price or because the oil supply is low - the US $ is devaluating to such an extent that it literaly takes more $ to pay for the same barrel. other countries are unaffected by this...
      • VitriolAndAngst, on 04/30/2008, -0/+1A bit of both. The higher energy costs are hitting other nations who are exporting less fuel-- so this is not entirely the devaluation of the dollar. But the dollar has lost about 40% of its value in the past year.
      • PhilLesh69, on 05/01/2008, -0/+2It may be that in Europe, pump prices have not increased, but don't forget that European governments can mitigate rising gasoline prices by temporarily suspending taxes. In Europe, a large percentage of gasoline prices are due to taxes. Only about 20% of gasoline prices are taxes in the US.

        The declining value of the dollar definitely plays a role. No question. But oil going from $23 a barrel in 2001 to $118 in 2008 most certainly plays a far larger role in higher pump prices. A 500% increase in the cost of the basic ingredient has much more impact than a 40% decline in the dollar.

        But your point hints at a significant change in the way oil is sold. More and more producers are demanding Euros, and are divesting themselves of Dollar reserves. That still needs to be considered and factored into just about everything.
    • kenplaysviola, on 04/30/2008, -1/+14And sadly, Americans will re-elect their representatives and wonder why nothing changes. Americans seem to suffer from amnesia and fall for the same political lies every time. In a way, we deserve what we get and this is a kick in the butt. There's going to be a point where the government can't help us out anymore and we are truly on our own. How bad must it get for people to wake up?
      • VitriolAndAngst, on 04/30/2008, -2/+6And they rig the voting machines now to deal with those of us who DO REMEMBER things.
      • marx2k, on 05/01/2008, -0/+0If the Government is a representation of its people, then how could you ever elect a different government if the voters are the same people they were during the last vote? Same ideas, same values, electing the same damn people each and every time.
      • boomernet, on 05/02/2008, -0/+0Change isn't a quantity of difference in politics, its a buzzword. The politicians aren't going to change things, they're useless, gotta fix it ourselves.

        Think local, simplify, and keep going. Not Pollyana (been unemployed on and off for just over 2 years), just too stubborn to give up and blame someone else.
    • bromac, on 04/30/2008, -1/+4Oil companies are cutting a nice profit, yes, but really they will no matter how you slice it. They'll sell to the highest bidder. If America doesn't like the prices, they'll sell the oil to other nations.

      Stop with the victim mentality. The reason the price for everything is going up is because fuel prices are going up. Oil is well over $100/barrel now, something that would have signaled Doomsday a year ago. Why? Because we're running out of the stuff, and demand isn't decreasing. That increases the price.

      Take a look around you. All your possessions and the raw materials to make them were transported by OIL. Same with the food in your fridge. If the price of oil goes up, the price of EVERYTHING goes up.

      It's that simple. Also, if these people had any sort of contingency plan, they'd have saved a decent amount of cash in case something like a layoff occured. ***** happens, be prepared or be bankrupt.
      • PhilLesh69, on 05/01/2008, -0/+2We really aren't running out of "the stuff".

        How quickly people forget how many times before that they've been told the end of oil was just about to happen. First the "peak" was reached in 1980, then it was 1992, then it was 2002, then it is 2015. They were even saying this stuff in the 1950's.

        Every time we've supposedly reached the peak, new extraction and exploration technologies emerge, and they have to recalculate when some "peak" would occur.

        Not to mention, the Soviet study on abiotic oil. Turns out, there is some scientific evidence that leads some experts to believe that oil is not of fossil origins, but is actually a product of geological activity deep below the earth's crust, much like diamonds and natural gas. Considering that Lukoil and other Russian companies are finding oil at 40,000 feet, and more, below the earth's crust where no dinosaurs ever existed, maybe they are right.
  • StingingNettle, on 04/30/2008, -2/+53Maybe we'll start loading up cargo ships with used items and send them back to China as part of our debt repayment plan.
    • 2bsbc, on 04/30/2008, -4/+24I fully expect this to happen; however, instead of used items, those cargo ships will be filled with American Citizens looking for work.
    • ackermannc, on 05/01/2008, -0/+1I doubt that's going to happen, 2bsbc. What freedoms that weren't killed off since Reagan are more valuable than the slave labor over there.
    • marx2k, on 05/01/2008, -0/+0Who's going to pay for the fuel to get those cargo ships there?
  • motogoat, on 04/30/2008, -14/+35You IDIOTS. Haven' you read the other story on Digg where diggers are proclaiming in unison that our economy is fine, we're not in a recession and that rising costs are all part of a free market?!
    Don't you guys know anything?!!
    /sarcasm.
    • RomeyRome, on 04/30/2008, -4/+11My economy is fine. Got laid off. Got a new gig with a 25% pay increase.
      • tehbored, on 04/30/2008, -1/+3What country?
        • kaiwai, on 05/01/2008, -4/+2Probably some crushy government job - you know, fake jobs that are created by government to cover up for high unemployment.
          • RomeyRome, on 05/01/2008, -0/+3Yep. Because nobody could actually hold a degree & background in a field that is in demand. Right?
            Markets change, and you've got to change with the times. Ask the TV repair men.
    • mike17032, on 04/30/2008, -6/+2Yes, only then chicken little diggiots know whats going on right? Lets get a few more stories about how bad everything sucks on the home page, that will fix everything!
    • pogfreak, on 04/30/2008, -0/+1http://www.bea.gov/newsreleases/national/gdp/gdpne ...
    • bingobongony, on 04/30/2008, -1/+7a few idios who lived above their means and are finally paying for it is not indicative of the entire economy.
      • PhilLesh69, on 05/01/2008, -0/+1Unfortunately, it isn't just a "few" idiots.

        We are surrounded by them.
  • cyndezu, on 04/30/2008, -23/+45Heartbreaking, I just can't wait till Hillary or Obama get in there and soak us for more taxes more government and less of our own money,or McCain sends more of our kids to war. This economy is terrible.
    who's Ron Paul and why is he trying to save our country?
    • starbuxadct, on 04/30/2008, -6/+8The money will have to come from somewhere to pay for our Outrageous federal deficit.
      • xGuerrillaRadio, on 04/30/2008, -1/+19We could stop pouring trillions of dollars into funding the war. Diverting that spending to pay off the deficit would be one hell of a start.
    • bingobongony, on 04/30/2008, -6/+4Ron Paul will fix EVERYTHING!

      (And that is why you will always be considered a huge joke.)
      • cyndezu, on 04/30/2008, -2/+4BINGOBONGONY YOU R THE JOKE! go do your homework punk.
      • PhilLesh69, on 05/01/2008, -1/+1Hey, Bingobongony, I thought you were going to stalk me until the end of time for my comment that I believed Obama would beat Hillary by 15%!

        Come on dude! Step up! You deleted your account once you got pwned. I'm surprised to see you are back.

        Come on, man! Tell me all about your suicidal thoughts, tell me how much you love video games. I missed you!
    • VitriolAndAngst, on 04/30/2008, -4/+2I read Ron Paul's entire page on economics-- I didn't see any ideas that he had that were workable besides ending Sarbanes Oxley. He seems to be something different -- but he does not diverge much from Reagonomics in any way that matters. His economic policies would mean we have the same lack of infrastructure as Mexico, and the privatized anarchy that results in buying your police, fire and security.
      • cyndezu, on 05/01/2008, -2/+2I know WHO Ron Paul is. And I know who you are..A troll
        • VitriolAndAngst, on 05/01/2008, -1/+2Just saying it as how I see it. Ron Paul has horrible economic ideas and NO LIBERTARIAN has anything to point to except theory.
          You cannot get out of the annoying problem that people need government to organize their society-- the best you can do is have a representative government that allows PEOPLE to be in control. The fundamental problem with Ron Paul, or people who think Libertarianism is some "lack of government allows free market to solve problems" is that without restrictions, businesses become monopolies that create more inefficiencies than government.

          We are at war right now, because the military uses our government to drum up business. Ron Paul would not change that system -- I'm not trying to make you angry, but just hoping I can make you think.
        • Moonkeeper, on 05/01/2008, -0/+2Theory? Go around the world country by country and compare the wealth of each country's citizens to how historically free enterprise their economy is. There is a direct correlation. Government exists to protect people from physical force, breach of contract, and fraud. Anything beyond that does more harm then good.

          Furthermore, businesses do not become monopolies in free markets. The robber barons needed government subsidies to obtain their monopolies. Standard Oil, at one point controlled 95% of the oil industry, they lost 1/3 of that market share before any anti-trust crap happened. Even the big business wall street banks lost 1/3 of their market share to smaller banks in the south and west before the federal reserve was created.

          So what happens when the government controls the economy? Look at the Great Depression. BUT WAIT! Wasn't the great depression a failure of the free market? No. The depression was the result of artificially cheap credit from the fed, wage and price controls given to us by Hoover, commodity cartels again thanks to Hoover, the Smoot-Hawley tariff which was the largest tariff in history, and massive tax increases (lets tax the rich!!!) to pay for public works projects.
  • cashman57, on 04/30/2008, -5/+43The reason for the increases in fuel and food prices can be found in the fact that the fed has debased the currency. Every time you hear "increase liquidity" and "lower interest rate" think inflation because that is the result.
    The problem is the declining value of the dollar and the solution is sound monetary policy.
    Don't look for that to happen under the three Senators.
    They are economic mental midgets.
    • jedmed, on 04/30/2008, -2/+10Having politicians determine economic policy makes about as much sense as having the foxes guard the chicken coop.
      • akatsuki, on 04/30/2008, -2/+2Except the fed chairman is an economist.
        • jgzman, on 04/30/2008, -1/+3The fed chairman is also not a politician. He is not elected, and he is not answerable to the public or the government for his actions.
          • twinklyJesus, on 04/30/2008, -0/+2""not a politician..." Yeah right!
      • mike17032, on 04/30/2008, -0/+1Agreed.

        Good thing we dont ***** do that.
      • VitriolAndAngst, on 04/30/2008, -2/+2What are you talking about? You either have a politician -- a representative of the people making this decision or you have a business making the decision. Right now, business actually dictates what the Fed will do, and our "phony" Democracy pretends to have made a decision that wasn't told to them by a lobbyist.

        The reason Politicians deciding monetary policy isn't working is; That Banks are private entities and run our economic system now, AND that our electoral system is broken and allows business to determine who gets elected through donations.

        Fix the election system and we can get better representatives. There is NO WAY for us to not have a government -- so quit blaming "Government" in general and start pointing your finger at the crooks who made the decision.

        The problem is already progressing because of our debts -- the Fed has to lower the rates and print more money -- it doesn't have a choice at this point.
        • PhilLesh69, on 05/01/2008, -0/+1Living in a corporatocracy while believing we live in a democracy is a big mistake.

          Accept that it is a corporatocracy and live with it, or demand that we, instead, restore democracy.

          Delusion never seems to work out very well.
    • walt00, on 04/30/2008, -2/+1HERE HERE cashman!!!
    • cashman57, on 05/01/2008, -0/+1The fact is that if we return to sound monetary policy, the same sound monetary policy that had wholesale prices remain stable for 140 years we would be far better off.
      As long as we put our entire economy in the hands of the federal reserve we will see these types of monetary manipulations that leave those living day to day in financial peril.
  • lhbaker, on 04/30/2008, -1/+22Anyone want to buy a Wii?
  • casspa, on 04/30/2008, -2/+42As Americans we're ALL pack rats, we simply have too much stuff...
    • burnedtubes, on 04/30/2008, -1/+13Couldn't agree more. I find people are even hoarding useless downloaded content.
      • mparker7410, on 04/30/2008, -0/+2I've been guilty of this, hoarding music. I'd spend hours on DC++ trying to get some hard to find bootleg only to NEVER listen to it. It was like just having the file in my position was all that mattered. Very pointless.
        • PhilLesh69, on 05/01/2008, -0/+1I think you meant "possession", not position. Unless you are in Iraq at a Forward Operating Base ;)

          You should download FreeAgent and subscribe to alt.binaries.mp3.*whatever* newsgroups on Usenet. I know it's old school, most people who haven't been online since the early 90's don't even know it exists. But you can download entire albums with complete ID3v1 or ID3v2 tags. Sometimes they even include album covers so you can browse your music folder and see album covers instead of folders.
    • mparker7410, on 04/30/2008, -0/+2I'm not a pack rat. I like owning as little as possible actually. However, at one I was just the type of American you speak of.
      • Ebeach, on 05/01/2008, -0/+1Out of curiosity, how'd you get out of being a pack rat? I'm a huge pack rat, my place is always cluttered. I hate clutter, so when I come home it always feels like a constant battle. Urgh.
        • cheeseisnogood, on 05/01/2008, -0/+1Throw ***** away.....I was a pack rat myself. Anything I don't need went into the trash. It's hard to break that habit......Just do it!
        • marx2k, on 05/01/2008, -0/+0Give it to those who NEED it on Freecycle
    • commernie, on 05/01/2008, -1/+1Who exactly are you referring to? Not me. I, like MOST AMERICANS, have very little stuff. It's the upper classes who live in tremendous excesses, yet we are paying the consequences. Life's a bitch, ain't it?
  • AlwaysAwake, on 04/30/2008, -6/+28Well it's this or some kind of prostitution or crime. We may get to that soon too, when the "stuff" runs out. Now you can see why the Authorities are busy with all these changes of spy satellites; executive orders canceling rights; Supreme Court negation of rights, etc. They see what's coming, and are getting ready.
    • VitriolAndAngst, on 04/30/2008, -1/+4Absolutely. They knew this was coming before they set about making it happen.
  • americangoy, on 04/30/2008, -22/+24Oh god...

    Well, who here is surprised?
    Meanwhile, Exxon and BP are posting record profits... and so are our "friends", the Saudis.
    Way to go bush and republicans, way to go!
    Heckuva job!
    • DRINKxREDxBULL, on 04/30/2008, -2/+8Great. Recovered profits for oil companies means more revenue for shareholders - any one with any kind retirement savings plan that is.
    • RomeyRome, on 04/30/2008, -1/+9Profits are determined in percentages & not just dollar amounts. After operations costs & what not, 10% profits for oil companies isn't that big.
      • Drax0n, on 04/30/2008, -8/+6the oil companies make more PROFIT in a day than, you, your children, and your children's children could ever hope to earn in all your lifetimes combined. The best news 90% of that money is being funneled to the middle east and eventually into the hands of terrorists.

        Its amazing how Bush's scare tactics say if you buy a joint your helping terrorists, (which is not true your helping a hippe in British Columbia). But no one wants to talk about how the fact your gas money goes right to Saudi Arabia (which BTW contributed 75% of the 9/11 hijackers) That's right every time you fill up your SUV your sending that money to Saudi Arabia for Bush's friends, and Osama's family, and the oil cartels in Saudi Arabia who want nothing more than to see another terrorist attack so the price of gas can spike and those "percentages" you speak of will go up.

        But your right. No big deal.
        • DRINKxREDxBULL, on 04/30/2008, -1/+8So lets drill for oil in Alaska, of the west coast, in the gulf, and of the east coast!!

          You're with me right?

          "chirp, chirp"
        • mike17032, on 04/30/2008, -3/+8Did you have a point in that rambling?

          They arnt a ***** charity. The point is that their profit margins are lower than most industries. When anyone with an IQ over 10 looks at the evidence, it points to them not gouging us.

          Grow up kid. Yes your Mc Job sucks and doesnt pay *****, but that isnt the oil companies fault. Go find one where you dont wear a paper hat and maybe you will make a little more.
      • PhilLesh69, on 05/02/2008, -0/+1Sure, profit margin means something when you are dealing in scale.

        However, oil companies are way beyond scale.

        Let me ask you this, would you rather make a 50% profit in a business with a billion dollars in revenue, or a meager 10% profit in a business with 400 billion dollars in revenue?
    • keymanjim2, on 04/30/2008, -7/+7Things didn't start going to ***** until the democrats took over congress.
      • VitriolAndAngst, on 04/30/2008, -3/+2Hah!

        Boy, didn't take long for the NeoCons to pass the buck. You forgot to blame minimum wage laws.
        • keymanjim2, on 05/01/2008, -1/+2Minimum wage laws effect the hiring of illegals. Not germane to the subject on hand.
          Boy, didn't take long for the libtards to try to change the subject.
      • PhilLesh69, on 05/01/2008, -2/+1Really?

        Really???

        Is that what they are saying on Fox News?

        Because things went to ***** long before the 2006 mid term elections.

        Oil cost $23 a barrel when Bush took office.

        Nothing has changed between November 2006 and now, the same trendlines are still progressing downwards.

        Blaming the democrats is just a way to ignore the issue and feel proud that you watch Nascar and drive an SUV.

        Damn, you make rednecks a very unlikable group.
    • BadseedJR, on 04/30/2008, -3/+7Democrats have always spent money frivolously. Sadly, now so do the republicans. I think we can just call them all "The Money Party" from now on.
      • RomeyRome, on 04/30/2008, -0/+4Benjamin Party
      • VitriolAndAngst, on 04/30/2008, -3/+2Frivolously spending on education and making sure that old folks can retire, rather than spending it on blowing up bridges in Iraq?
        We now spend more on prisons in America than on education. We could have had free health care, free education and put in a new energy infrastructure with the money we spent in Iraq.

        I'm pretty sure that you are going to be joined by an army of paid bloggers, making sure that this doesn't get blamed upon our energy, banking and trade policies. You know, those things that decide what our transportation is going to be, how money is created and borrowed and how much crap we import from China?
        • keymanjim2, on 05/01/2008, -1/+3I live in New Jersey. 72% of my property taxes go towards education. What I get for that is every school is it's own district with a $100,000+ a year administrator and a large staff. There are even five districts in NJ that have a highly paid administrator and staff, BUT NO SCHOOLS IN THEM.
          This is the legacy of democrats licking union ass.
        • cashman57, on 05/01/2008, -0/+3There is no such thing as free health care. If you want to know how Hillarycare and Obamaplan work out see the UK dental plan.
  • TYRONEBR549, on 04/30/2008, -3/+61Don't believe the hype. There is no rep. party or dem. party. It is just one big party with our money and were not even invited.But I'll wager that we get the bill for the cleanup.
    • Look4Truth, on 04/30/2008, -1/+20BINGO!
    • CC440, on 04/30/2008, -9/+4This same ***** post appears in every story that is even vaguely political. There is a HUGE ideological difference between the parties. Maybe not between some individual members of the parties but don't tell me Kucinich and Paul are the same person. One wants the state to control everything and one wants the state to control nothing. Thats as polar opposite as you can get in ideology. Also freedom is not an ideology, every reasonable person wants to repeal a lot of what Bush has signed into law.
      • sgtpppr, on 04/30/2008, -0/+7Whatever you have to tell yourself to help you sleep at night.
      • Gloony, on 05/01/2008, -1/+6Ideology does not always translate well to reality.
      • Izult, on 05/01/2008, -0/+3then explain why Kerry seemed like bush 2.0 and not necessarily an upgrade if their ideology is so VASTLY different. No i didn't vote for bush in either election but the Democrats could have seriously picked a better candidate that election. They simply save the ideology for elections these days and treat us like children during the in between time.
      • TYRONEBR549, on 05/02/2008, -0/+3Ask yourself this, Why can they either one not get it right about anything. They are all members of the CFR. They all work inclusion in all of these things. They control ever thing. Yet they only manage to feed the big dogs while the rest of us are kept asleep by their controlled media that they own. They work together to whittle away at our rights until there are none left. Call it what you will, but the truth is staring us all in the face. You can keep your head in the sand a little longer until they declare Martial law and order you and everyone you know onto their trains for Auschwitz or you can look around at what is going on.
    • falkonv7l, on 04/30/2008, -0/+10"There is no rep. party or dem. party" = Dugg!
  • Conspiracy20, on 04/30/2008, -10/+23Remember the first Depression was caused by the Fed Reserve too but it's okay because they said they were sorry.
    • Pg5of16, on 04/30/2008, -1/+12Cause people have finally decided that the Depression can now be traced back to one thing.
      • Danger668, on 04/30/2008, -6/+4Conspiracy theorists are not theorist, just f*ing stupid with incorrect hypotheses.
        • Conspiracy20, on 04/30/2008, -1/+5Bernanke admitted it (not as bluntly as you put it) that the Fed caused the Great Depression. He admitted to Milton Friedman here:
          http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2 ...
          • 911ArtStudent, on 05/01/2008, -0/+1So did Milton Friedman
          • Danger668, on 05/04/2008, -0/+0Perhaps you should reread the speech script and then the book and then some other history books. You might better understand how the Fed was set up at the time and how it has changed since that time.
        • bieber, on 05/01/2008, -0/+1...and he's spent his entire career studying it, and doing his damnedest to make sure it doesn't happen again...
          • Conspiracy20, on 05/01/2008, -0/+1But the comment was about it being a conspiracy and it cerainly was not. As to it not happening again, well, we'll see very soon now.
          • Izult, on 05/01/2008, -1/+2he's doing a great job of preventing the next one now isn't he?*

            *sarcasm
    • atbnet, on 04/30/2008, -2/+1You can actually thank the Holy Grail Gold Standard according to everyone on Digg for the Great Depression.
    • regeya, on 04/30/2008, -2/+4The FIRST depression?
      You mean the GREAT Depression, which was hardly the first depression. Panic of 1837? Panic of 1873? Panic of 1893? Panic of 1907? All forgotten, sadly. And the number of depressions since the 30s?
      I'm seeing a big GOOSE EGG here...we'll see if we're about to have the first one in a long ol' time, but in the bad scenarios, we're still coming off of one of the most placid financial periods in American history.
      Check out the Panic of 1837 entry on Wikipedia for some historical perspective of what past bursting bubbles have done to us: http://en.wikipedia.org/wiki/Panic_of_1837
      • kaelyiesta, on 04/30/2008, -0/+3I found this to be amusing:

        "Martin Van Buren's refusal to involve the Government in the economy was said by some to have contributed to the damages and duration of the Panic. Of course, the initial Government intervention in the market had inadvertently been part of the cause of the problem, and further intervention might or might not have been useful."

        What a political landmine that sentence is. I wonder how many times it has been edited by people for and against government intervention. 'Was said to have', 'might or might not have been'? Really? I think I'll remain highly skeptical of most things that wikipedia entry has to offer.
      • cashman57, on 05/01/2008, -0/+1Panic is not depression. For the first 140 years of this great Nation we saw stable wholesale prices. Since we began allowing the federal reserve to debase the currency wholesale prices never stopped climbing. The next depression caused by the federal reserve is coming. Hope you have enough gold to see you through because the dollar will be worth that goose egg soon.
  • stienster, on 04/30/2008, -12/+5Sign and share with all your family, friends
    http://www.thepetitionsite.com/3/stop-the-madness
    • LoJack, on 05/01/2008, -1/+2The fact that you're buried shows how little Americans care about Humman Rights, or actually know what's going on. Sad!
  • cyndezu, on 04/30/2008, -11/+11Gee is the beginning of the end for the middle class?
    I'm right behind them with two mortgages!
    The Revolution A manifesto Ron Paul!
    • robthom, on 04/30/2008, -4/+5The beginning of the end was the 60's and the liberal movement IMO.
      All the middleclass young hippies eagerly and foolishly gave up there own stakes in the future (and their childrens) for the whims and pet ideologies of wealthy liberal "intellectuals".
      • cyndezu, on 05/01/2008, -0/+1Anybody heard of the 'HOUSING SLUMP'?
        a lot of us are victims of this economy!
      • PhilLesh69, on 05/02/2008, -0/+1Wow. a small percentage of drugged out people partying it up and protesting against vietnam is now, in your ill informed opinion, "All the middle class young" who "gave up their[sic] own stakes in the future for the whims and pet ideologies of wealthy liberal "intellectuals"."

        Talk about serious historical revisionism or a purely misinformed view of reality.

        The majority of baby boomers became the yuppies of the 80's and 90's, and are now putting their children through ivy league universities and buying their graduate children homes and cars. Some are liberal, some are conservative. Many are now about to retire, and are now realizing that the corporate controlled political system is undermining their chances of having an even moderately comfortable retirement.

        To people that can't think for themselves who watch too much cable news on a channel owned by an Australian Globalist, of course the blame lies in the liberals. But, for people who can form their own opinion, the reality is that both parties, and I mean the people IN the parties, not people voting for one or the other, BOTH PARTIES are responsible for the destruction of the middle class. Or, should I say, the bleeding dry of the middle class in pursuit of more and more profits.

    • mike17032, on 04/30/2008, -7/+1Yes, gold standard LOL caveman paul will savez us all right?

      Its sad that you still follow that hopeless joke.
      • orxor, on 04/30/2008, -1/+4Why do you hate the constitution so much? If Keynesian economics and fiat currency are so good for everyone why don't we just change the constitution to allow for them?
        • Jammer, on 05/01/2008, -1/+1Here's my question: Why are you RonBots all so clueless about this country and the world in general?
      • cashman57, on 05/01/2008, -1/+2The only proof I need that Ron Paul is right when he wants a stable currency is the fact the American Eagle gold coins I purchased when "W" was sworn in will buy me more gasoline today than when I bought them.
        You can believe in the federal reserve if you want to, I don't.
        • Jammer, on 05/01/2008, -1/+1Then move to Canada if you hate it so much.

          My gosh, you RonBots are really a bunch of fools spewing utter nonsense. Ron Paul has zero expertise in economics, yet you loons hang on his every word regarding economics as if it was gospel.
    • bingobongony, on 04/30/2008, -3/+1Don't blame anyone else for living above your means like the dumb ***** that you are.
  • FuzzyBunny, on 04/30/2008, -10/+14Middle class American incomes down from 100 times the average worldwide to 99 times the worldwide average. We're all doomed!
  • jmandawg, on 04/30/2008, -5/+2Going by the title, I thought this was an article about president bush.
  • superkendall, on 04/30/2008, -4/+25Lots of people have always done this. Right now, the unemployment rate is actually not all that high compared to historical figures, and certainly nothing compared to Europe.

    Part of it stems from people overspending when they do have jobs, and not being careful enough to save in case you lose a job. I feel for the people that truly cannot find a job and end up in a real bind, but they are not as numerous as anecdotes like this make out.
    • lhbaker, on 04/30/2008, -6/+3Please shut up.
    • regeya, on 04/30/2008, -1/+3I hear you. Until I can see some hard numbers on what's going on, I call shenanigans. Anyone remember how mass media manipulated the 1992 election? Had you believed MSM back then, you would have thought THAT was the worst crisis since 1929.
      I recall people doing such things during the Clinton years, when unemployment was higher and the banks were in dire straits. Wait, what?
      I'm not saying it's not here, nor am I saying it can't or won't happen; I'm just saying that people need to be highly skeptical of what they're seeing in MSM right now. Election time is not the time to get your American news from American media, and given how much our current administration is hated around the world, you won't get spin-free news from anywhere else, either.
    • ackermannc, on 05/01/2008, -0/+1No loss is acceptable when all the means to mitigate it (education) are sealed off to citizens.
  • me32, on 04/30/2008, -6/+21Living the American dream is finally starting to catch up with the average middle class American. These people needed to start living within their means a long time ago.
    • BadseedJR, on 04/30/2008, -1/+4Agreed. Maybe they shouldn't have refinanced 800 times and gotten tens of thousands of dollars in credit card debt, but it still sucks for them.
      • lhbaker, on 04/30/2008, -0/+2I don't remember reading that part.
        • BadseedJR, on 04/30/2008, -2/+2It wasn't in quotes.
        • PhilLesh69, on 05/02/2008, -0/+1You must not pay too much attention to the world around you.
      • kaiwai, on 05/01/2008, -1/+1True, but I do feel sorry for the children of these parents - they don't choose to be born to parents who are pathetically inept at managing money.
        • PhilLesh69, on 05/02/2008, -0/+1But they'll repeat the process for the next generation, of course.
  • TexasShiv, on 04/30/2008, -3/+26"This is not about downsizing. It's about needing gas money," said Nancy Baughman, founder of eBizAuctions, an online auction service she runs out of her garage in Raleigh, N.C. One former affluent customer is now unemployed and had to unload Hermes leather jackets and Versace jeans and silk shirts.

    If you had to unload these before the economy completely crashes, you were already living outside of your means. Cut down on the spending of unnecessary items that are outside of your budget.
    • lhbaker, on 04/30/2008, -0/+3Yeah, ***** her for losing her job.
      • PhilLesh69, on 05/02/2008, -0/+1No, ***** her for losing her job and not having giving any thought to it WHILE SHE HAD A JOB!

        I always have 3 months' salary in savings. That is above and beyond investments, property, and retirement accounts, which if I really got stuck in a hard spot, could all be tapped as well. And, luckily, when you are out of work, your expenses do go down noticeably so that what was 3 mnonths of expenses when you were working becomes more like 6 months, even 8 or 12 months.

        If you make $50,000 a year and you don't have $6,000 or 8,000 in the bank by the second or third year, then you are spending all your money and not saving anything.

        If you have to sell off versace jeans to eat, you should have thought about that when you bought the versace jeans.
  • galeninjapan, on 04/30/2008, -1/+15i do all my investigative journalism on craigslist.
    • petemcfraser, on 04/30/2008, -0/+1i thought you were two fat asians!
  • sbader, on 04/30/2008, -5/+4buy homemade and shop at www.etsy.com it's an interesting site that seems to have almost everything being made and sold by people not coorperations.
    • jennaraby, on 05/01/2008, -0/+3I heard this is s a good site for artists to sell their own stuff. I don't consider this comment spam.
  • mal1964, on 04/30/2008, -1/+6Some are lucky just to have something to pawn.
    • aukxsona, on 04/30/2008, -0/+5That's the truth. Lost a lot in previous years from divorce.
      • mal1964, on 04/30/2008, -0/+4Its never happen to me but i know it can hit you hard. My uncle who lost both of legs and cant work and all he gets is a disability check and a little pension. He got divorced over 25 years ago and still has to pay his X $80 a month, And she works for the post office and they make decent money.
  • tituskashmarek, on 04/30/2008, -4/+9people have been sellin there ***** to make ends meet since we had things...its a harsh truth but nothing new...
  • mizatt, on 04/30/2008, -4/+35If you guys read the article, a lot of it is about people who have spent their entire paychecks and lived beyond their means suddenly not being able to support that lifestyle anymore. One woman in the article had to sell the "televisions" in her mobile home and then finished her story with a bit about how sad she was to sell her grandmother's teakettle for six dollars. If you had multiple televisions in a mobile home and are now at a point where you can't forego a couple of cheeseburgers to avoid selling your family heirlooms, that ain't because of gas prices. Gas prices are no doubt doing a number on low-income commuting households but most of the people in this article have just made poor financial decisions.
    • gorgalor, on 04/30/2008, -0/+2She should have sold the tea kettle a long time ago when it was worth more than just a few cheeseburgers, and closer to being new. Sorry, but if it's only worth $6, then it ain't an heirloom. It's junk.
      • mizatt, on 04/30/2008, -0/+1Given how old it was, it probably wasn't worth much more than 6 dollars pre-inflation
    • starbird, on 05/01/2008, -0/+1mizatt - My point exactly (that I made to friends today). If she is struggling to pay a $30 water bill this month, is the $6 she got for the tea kettle really going to help her? cause next month she'll still not be able to pay the water bill (I bet the late fee is more than $6) and will not have anything to sell.
      • PhilLesh69, on 05/02/2008, -0/+1But think about all the money she'll save on her water bill by not boiling water for tea now that she's sold off the tea kettle.
  • robthom, on 04/30/2008, -4/+14Boohoo.
    I saw a guy who paid 90 dollars for an advanced copy of gta4 the other day. If someone else cant afford to eat while he virtually stomps hookers than thats just our american freedom doing its job.
    • robthom, on 04/30/2008, -1/+3"+9 diggs by robthom 59 minutes ago Boohoo. ..."
      ^^Lol, at this getting dugg. This is probably the most diggs I've ever gotten on here, in addition to being one of the stupidest things I've ever said here.
  • KCLorelei39, on 04/30/2008, -4/+15Such a sad, yet oh so familiar tale....

    We were hit by the telecom bust in 2002....and my husband could not find a comparable job after he was laid off from a nicely paying union job. He earns less than half today of what he once did, and before it was finished, we lost most material possessions, repo'd minivan, foreclosed home, and filed bankruptcy.

    We were among the first to go through this kind of thing, and I don't see it ending anytime soon. My heart goes out to folks that are experiencing financial hardships in these dark times; selling off extra stuff is only the beginning. It's like a slow-motion train wreck; you see it coming but you don't know how to stop it.
    • ackermannc, on 05/01/2008, -1/+3Consider that education is one of the ways out, but you have folks like Sowell wanting that avenue sealed shut.
    • PhilLesh69, on 05/02/2008, -4/+1I often wonder where people like you came from. Did you just start existing in 2002? To believe that you were among the first to go through this kind of thing means you either just arrived here on this planet, or you've been in a coma all of your life. People go through job loss, bankruptcy, repossession, and some even become outright destitute, ALL THE TIME, THROUGHOUT HISTORY.

      Ever heard of the Great Depression? Perhaps if you had, you might not have out-leveraged yourself to the point where losing your job meant losing everything.

      I got laid off in 2002 as well. I closed on a $416,000 townhouse in October, and was laid off 2 days before thanksgiving. I decided to take advantage of the situation, for a nice hiatus that lasted a little over 2 years. I didn't even update my resume until January of 2005, and then got a job in less than a few weeks making about $12,000 more than my previous job.

      I now live in a mortgage free townhouse that I bought for $416,000 and could sell for $720,000. I owe no debt, not even a credit card or anything. Paid off car, paid off home. I can lose my job anytime and just tap into investments and my retirement accounts if necesary.

      Foresight. You have to plan ahead. Getting up every day and just getting through it, and not caring about the future is how people end up losing everything at the first bump in the financial road.
      • KCLorelei39, on 05/04/2008, -1/+2thanks for the pointless lecture, bub. to clarify, lest you explode from your own imagined superiority: we were among the first to experience the economic crunch in the most recent financial downward cycle. /rolleyes

        I'm glad to have given you the opportunity to brag about how wonderful you are, though. LOL do you also enjoy kicking stray kittens and puppies?

  • gametavern, on 04/30/2008, -3/+9Lol... they make it sound like all Americans are suddenly poor. *goes to buy new tv*
    • Rioracer916, on 04/30/2008, -4/+5On credit no doubt...
      • PhilLesh69, on 05/02/2008, -0/+1Shhhh..... don't ruin it for the rest of us. We want him to make the same mistakes other have, so in a few months, the next time a story like this comes up on digg, he'll be making comments like "Those bastards are stealing our jobs and making us poor!"

        If you tell him how stupid he is now, he won't be like all the other SUV driving nascar fans who are laughing at their neighbors who are being foreclosed on, believing that by laughing it won't happen to them.
  • yoda17, on 04/30/2008, -5/+19From someone who's spent the last 10 years or so, buying almost nothing, living with multiple roommates, saving as much money as I could and telling people this was my plan as they were driving around in new BMWs and Mercedes as I drove a 15 year old rusty beater car, all I will say is 'yeay'. And also I told you. I have been picking up some pretty good deals on CL the last few weeks. Buy low, sell high.
    • lhbaker, on 04/30/2008, -6/+4I'm sorry, but this just makes you a smug prick. Try breaking both arms and making ends meet.
      • bromac, on 04/30/2008, -3/+6Smug prick?

        While he's being thrifty and not bleeding money like a fratboy in Vegas, everyone else complains they don't have enough money. All the while, they probably live in a house with a yard, and have these assets (such as diamond rings) to pawn off. You're just being an envious asshole.

        I do feel for people who work day in and day out to make ends meet. I don't feel much sympathy for the people who buy plasma TVs and new cars while their savings account is bone dry. ***** happens, like losing your job or hyperinflation. To those who never thought it'd happen to them: tough luck. Maybe you shouldn't spend it on stuff you didn't need and, gosh, SAVE FOR A RAINY DAY.

        Reminds me of Aesop's Ant and the Grasshopper. And America's got too many grasshoppers, fiddling away while a nasty winter approaches that is the energy crash. I told people about it years ago as well, and look whats happened.

        Don't say we didn't tell you so.
        • lhbaker, on 04/30/2008, -1/+2The part about saying 'yeay [sic]' when somebody's situation changes makes him a smug prick.
          • bromac, on 05/01/2008, -1/+2Yeah, because peoples' situations should never change and you shouldn't plan for the worst. People have lifelong job security like in Japan. /sarcasm

            I don't judge people as a whole, but on a case by case basis. But if someone's living in a 3,000 sqft. home, has a new car, and generally doesn't budget for losing their job or some other major life event that drops their income to zero, then THEY'RE DOING IT WRONG.
    • mike17032, on 04/30/2008, -6/+2That just makes you the other end of stupid. Grats on having money and living like a freshmen for 10 years.

      The smart people arnt afraid to buy stuff they can afford, they just dont over extend themselves.
    • artfiend77, on 04/30/2008, -1/+4Here here. Live within your means, it's as simple as that. Do I need a brand new house if I live alone? Do I need a fancy new car? Do you need an Xbox 360 AND a PS3? I don't go partying every weekend, have my own business, live humbly and enjoy the simple things in life. I do have to say my only vices is buying new clothes and add ons to my PC but my job requires me to wear business clothing and requires work on the computer. I'm also slowly paying off my student loans. The important thing is to save up so that one day when things like this happen you can continue living a comfortable life and not have to make drastic sacrifices.
    • itsthemechanic, on 05/01/2008, -1/+2Minimalism ftw. Years ago I also changed my life style to this. Small place, no car, cheap old motorcycle, simple, no hassle, no problems. Last year I worked for about 3.5 months and the money I squirreled away from that still hasn't run out.
      • PhilLesh69, on 05/02/2008, -0/+1I didn't work for over 14 months after losing a job less than 30 days after closing on a $416,000 townhouse.

        I still have nice things, but not over-the-top, "call your neighbors to brag" flashy stuff. I have a 42" LCD. I bought it by putting $60 a month in a seperate account for 2 years, and paid cash for it. I bought a used mercedes E320 with cash, same process, saved until I could buy it. When I wanted new skis, I saved until I could buy the skis and bindings I liked. When I wanted a new Trek mountain bike, same thing.

        It's nice to have a growing savings account and a growing stock portfolio. And nobody can tell that my mercedes was used when I bought it, it was a $50,000 car new. I paid cash for much much less than that, less than half that. Besides, I know that they are killing themselves to make payments. I just comfortably saved money.

        Loans are for suckers and people with no willpower. Why pay someone else when you can pay yourself? Seriously, taking out a loan is just making payments to someone else. Saving to buy a luxury is making those payments into your own bank account. Would a smart person prefer to pay 7, 8 10, 13% to someone else, or earn (though measly) 2 or 4% for themselves?
  • johnomaz, on 04/30/2008, -1/+9I'm not resorting to selling my stuff...yet. I am however going today to buy a bike to start pedaling my way to work. Fortunately, I live about 5 miles from work and with the current price of gas where I'm at (3.90 a gallon in the California Valley) the bike will pay for itself in at most 2.5 months. Plus, the general wear and tear and oil changes I didn't include. I use my AC less, am being very anal about turning off lights, taking shorter showers, turning off the TV when not in use, and maybe even getting rid of my beloved satillite dish. Wish I could get rid of the cell phones too, but am under contract. I have a few things I could sell, but am hoping it doesn't get that bad. People hat are selling heirlooms, jewelery and whatever else they can are probably so far in debt, the high prices of gas and everything else isn't making that big of a difference. Its just something new for them to blame for their debt. I am in debt too...as a lot of others are too. And guess what, my wife and I put us there. We spent the money we didnt' have and the last thing I will do is look to others to help get me out. Its my problem and its something that i need to get myself out of.
    • keymanjim2, on 04/30/2008, -0/+4What are you going to do when it rains?
      • jbcsee, on 04/30/2008, -1/+2Bike in the rain, it's actually fun, personally I put my work clothes in a water proof bag and then change in the bathroom when I get in. During the winter, which is actually the rainy season in my area I also wear wet weather gear because cold and wet is no fun.

        I haven't used a car to commute to work in four years now and the three years before that I only did infrequently because I lived in a place where it snowed. My fifteen year old car only has 43k miles on it and I bought it the day it was new.
        • briankoenig03, on 05/01/2008, -1/+2Congrats for biking a lot.
          Sorry to hear you bought your car brand new.
      • marx2k, on 05/01/2008, -0/+0Biking in the rain isnt a big deal. I bike to work (about 8 miles each way) in winter and I live in Madison WI. The only change made is I switch to a single speed as the goo inside the back gear hub gets all 'skippy' in the Winter.
    • mike17032, on 04/30/2008, -1/+5If you live 5 miles from work, how the ***** is the cost of gas even something you notice? Assume you get 20 MPG (low), that means you need a gallon of gas for work every 2 days. If the extra buck that gas has gone up really matters that much for you, then you have other issues.

      Not that I think biking is a bad idea, thats how I get to work (I live about a half a mile away, and would have to pay to park), but living close to work is whats saving you money, not riding a bike.
      • PhilLesh69, on 05/02/2008, -0/+1Read his comment again.

        It isn't the gas price increase, it is the cost of gas overall. He tells you that he is in debt over his head. He acknowledges that it was his own choice and that others who are blaming gas prices were in trouble anyway and are just using higher gas prices as a scapegoat so they don't have to admit to themselves that they made bad choices.

        Really, you should read what people post.
    • sgtpppr, on 04/30/2008, -1/+5People just need to learn to live in their means.
    • Izult, on 05/02/2008, -0/+2and as a side benefit your health might improve.
      • PhilLesh69, on 05/02/2008, -0/+1Not just by riding a bike, too.

        I have no debt, so I am not stressing about my debt, and I'm not stressing about my job. It's a nice feeling to be able to look your boss in the eye when he starts in on doing more (when you know you are already outperforming all the stressed out debtors who just look like they are working harder because of how stressed they are) and to be able to say "Look, I get my projects in on deadline 100% of the time, and I help out all the stressed out people who can't meet deadlines, and I help maintain servers and do side projects all at the same time. Besides, I don't NEED this job as much as you think. I could quit right now and be no worse off financially".

        I haven't been to a doctor since I had lower back pain in 1993. I got the a cold or the flu 3 or 4 years ago, and spent 2 days out of work, then was fine and dandy.

        People don't realize how much they are killing themselves just to "keep up with the joneses", how much their health is degraded because of lack of sleep, poor diet and stress.

  • PolishLogic, on 04/30/2008, -2/+14Every time I hear stories like this, I wonder what they're paying each month for cable+movie channels, broadband internet, cell phones, etc.
    • lhbaker, on 04/30/2008, -1/+3Why do you assume they even have these things?
      • marx2k, on 05/01/2008, -0/+0Everyone does.
        • lhbaker, on 05/01/2008, -1/+1That would indicate that these expenses are fairly necessary.
          • PolishLogic, on 05/01/2008, -0/+1Necessary, or convenient? Big difference.
          • lhbaker, on 05/01/2008, -0/+1Without cable or Internet, they're completely out of the loop. Without a car, they'll pay more for bus fare than for gas. Without a cellphone, they can't leave the house. So yeah, these things have become basic necessities for every citizen.
      • PolishLogic, on 05/01/2008, -0/+1I don't assume, I said I wonder what they pay. They could very well pay nothing...but we don't know. It would be nice if this story, and others like it, contained that info.
      • PhilLesh69, on 05/02/2008, -0/+1Every time I drive around the poorer parts of DC or Balitmore, I notice a lot of satellite dishes. Especially in the public housing. You have to assume they are not getting Dish or DirecTV to plug into an old black and white TV.
  • mrogi, on 04/30/2008, -2/+8I am willing to part with my most prized possessions in order to make ends meet. I just dont know if there is much of a market for my 27 VHS tapes of Vanessa del Rio porn videos.
  • Jem7vwh, on 04/30/2008, -3/+5Thats what happens when you libe beyond your means and buy houses you can't afford making it hard for the other people because your greedy.
    Never mind the welfare hounds!
  • elsquare1223, on 04/30/2008, -3/+5Gas and Food prices, are rather capricious, as they have been throughout the ladder part of the 20th century. Although we do have some stagflation, we certainly aren't panicking as much as our parents and grandparents did in the 70's. The economy usually finds a way to correct itself without the help of government or the Fed. Prices will go down(eventually), and then go right back up.
  • archer75, on 04/30/2008, -3/+8When people overextend themselves this is what happens. I haven't seen any of these kind of problems here. I don't personally know anyone who's lost their job or is going to lose their house. Guess we're just doing better here.
    • sgtpppr, on 04/30/2008, -2/+1People are just panicing and those who've historically had financial problems and/or lived off credit cards are blaming a phantom recession they heard about on CNN for their woes. What hurts the economy as a whole the most is people panicing for no reason and creating a self-fulfilling prophecy by acting like it's the end of the world. I know it's hard to believe, but people have lost their jobs before 2007/2008. People also lost homes in the past because they couldn't afford the payments on a loan they should've never taken. How someone who makes $32k a year thinks they can pay off $1 million in loans I have no idea.
  • pianomahnn, on 04/30/2008, -3/+18"Christine Hadley, a 53-year-old registered nurse from Reading, Pa., says she used to be "a clotheshorse," splurging on pricey Dooney & Bourke handbags. But her live-in boyfriend left last year, and she has had trouble finding a job."
    I have no sympathy for someone in this situation. This type of excessive spending is how this all came to be. You ***** up, lady. Deal with it.
    • SpaceMonkeyZero, on 04/30/2008, -2/+1If this article is going for sympathy, they sure fell flat on their face.
    • marx2k, on 05/01/2008, -0/+0I also don't get how her situation is supposed to mirror all of America. Yeah, there's a lot of idiots out there who spend their money on worthless (but expensive) *****, but that's not why America's in deep *****.
  • greeniemeani, on 04/30/2008, -3/+2Yeah, I think we have some real solid evidence of a recession when two bozos in Alabama, one who lives in a trailer and whose husband is a truck driver, have to resort to selling their personal possessions...
    • lhbaker, on 04/30/2008, -0/+5What is that makes them bozos? The trailer? Driving a truck? My guess is, you're Digging on somebody else's dime, so what gives you the right to judge another person? Tell us about your job and home, so we can tell you what a bozo you are.
      • greeniemeani, on 05/01/2008, -1/+1I'm not denying it - I also live in Alabama.
    • VitriolAndAngst, on 05/01/2008, -3/+2I'm doing fine -- but I'm not going to give up on another American who works for a living, just because they got the wrong profession. The difference from the Republican Great Depression (that was what they called it then) and the New Republican Great Depression, is that we didn't used to have all these callous, snot-nosed, people who don't think they need to look out for their fellow man.

      One day, you will be on the receiving end of a "bad decision." What will you do then when your back isn't as strong, or you aren't the brightest kid on the block anymore? When the economy changes like this, poor farmers get wealthy and smart engineers get poor, and bankers get tarred and feathered.
  • BrianCubbison, on 04/30/2008, -2/+4This reminds me of stories about families taking in ironing during the Depression. Who could afford to pay for someone else to iron their clothes during the Depression? Somebody must be doing well in this economy to buy heirlooms.
  • mcse2k3, on 04/30/2008, -9/+2IF ANYONE HAS A 7" TOUCHSCREEN IN-DASH DVD PLAYER THAT THEY WANT TO SELL, PLEASE LET ME KNOW :) !!!!!!


    P.S.
    TO ALL THE IDIOTS WHO OVERPAID FOR A HOUSE......HOW DO YOU LIKE IT NOW? (HAHA).
    • lhbaker, on 04/30/2008, -2/+2You're an MCSE? That makes you the idiot.
  • sjitan, on 04/30/2008, -3/+0It's sad, so many sites are popping up to help (or take advantage) of people needing to sell there possessions.
    Craiglist and eBizAuctions are making a killing out there.
    There's now a site that will buy your car online for cash strapped people http://www.caroffer.com
    Whatever works I guess in this economy.
  • skyz, on 04/30/2008, -2/+6it is sad and scary - i had a friend who years ago was into the simplicity movement while almost everyone else was into more bigger more and i remember him saying to me: 'embrace simplicity now before you are forced to' - i had more disposable income while i was in college than i do now -
    • raybury, on 04/30/2008, -0/+5Which means you probably majored in English.
  • misterteenwolf, on 04/30/2008, -6/+3oh boo hoo. try telling starving kids in africa about how you had to sell your precious belongings to make ends meet. oh what ever will you do without your jewelry? the madness
  • 0biKwiet, on 04/30/2008, -5/+8See? Buying an SUV to make people that you're cool and rugged is stupid. May car may look like crap and be worth less than a grand, but it darn well gets 30+ mpg.
  • MrTea, on 04/30/2008, -2/+8I think now is a good time to legalize prostitution.
    • kaiwai, on 05/01/2008, -1/+2Going by how politicians run their campaigns, it has already been done :)
    • marx2k, on 05/01/2008, -0/+0Prostitution is legal . Just throw a camera into the mix.
  • raybury, on 04/30/2008, -1/+3Does it not occur to anyone that some of these listings may be from con artists, frauds, who are using the root of all cons: Appealing to their victims' greed? Nothing like thinking you are buying from a "motivated seller" to stop you from pausing and making sure everything you are buying is in working order.
  • CobaltBlue, on 04/30/2008, -2/+11It's not all bad. I get an awesome teakettle from only $6 on ebay. She said it was her grandmothers.
  • SilverBlade2k, on 04/30/2008, -3/+5You can thank the Federal Reserve for the dismal economic situation..l
    • SpaceMonkeyZero, on 04/30/2008, -5/+2No, you can blame people for buying crap they don't need.
    • ackermannc, on 05/01/2008, -1/+3You mean the faulty policies of Reagan that got us into this mess nearly 30 years ago.
  • gregm11, on 04/30/2008, -0/+13I'm gonna buy people's junk and make awesome robots.
  • andy3109, on 04/30/2008, -4/+5If they need to sell their 5K guitar to make ends meet then maybe they shouldn't have a 5K guitar.
  • Buzzbean, on 04/30/2008, -0/+3Everyone should learn economics before they start blaming politicians for their money problems. Learn macroeconomics, microeconomics and, most importantly, household economics. If you're spending more than you're earning, it's no one's problem but your own. Deal with it. Unfortunately that means the rest of us also pay for your screw-up but that's the way an economy works. Just don't expect me to bail you out.
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