Jim dakins' (bisonsurvivalblog) http://bisonsurvivalblog.blogspot.com/2008/09/taking-it-in-fannie.html Now is the time... Monday, September 08, 2008 taking it in the fannie TAKING IT IN THE FANNIE What we all pretty much figured was just a matter of time was made official. Freddie and Fannie will be covered by the Feds. Taxpayer bail out time. Now, don't get sidetracked here. It isn't a matter of increased taxes. Only below the radar taxes will raise. You won't know how much of a ten dollar loaf of bread is due to Peak Oil, hyperinflation or more hidden taxes. All you know is everything costs more and you can't afford it. And it isn't a matter of socializing the economy. In case you kind of missed it, that has been going on since FDR. One more poorly run quasi-public entity won't matter much. And it isn't really too much about interest rates. They will go up. Not because 50% of the loan market just got taken over by the Federales. Because the bankers need the money and the bankers control the economy. * What the bottom line is, at least for me, is that this is just another strong indicator that we are all seriously screwed. Regardless of what happens. And I can't tell you how for sure. If I could I would be charging you for the advice and be living pretty in a much more secure location. Deflation because the credit sector is imploding? Or inflation as the only way the government can pay its bills? I have no idea. I don't know if I should sell my remaining assets, chiefly a gold coin, and skirt my trailer for the winter. Will gold keep going down? Will it spike up? Will metal prices keep increasing? I can't even chart my own future, so don't listen to me. * I can safely guess that now is not a great time to be dinking around. Don't save up for the perfect gun, buy what you can afford now. Don't wait until you can afford some freeze dried foods, or wait until they become available. Buy grain and beans now. Don't wait until retirement to buy the perfect retreat. You most likely won't see retirement anyway. Just get what you can afford now. A tent and a bike trailer is better than apartment rent or a mortgage that depends on continual employment. It is just a matter of time before things get worse. And it is not a question of if but of when and how bad. END Posted by James m
