Posted by LAA on January 17, 2009 at 07:30:53 from (212.93.220.66):
In Reply to: Deflation? posted by Spook on January 16, 2009 at 14:08:56:
Deflation has already taken place in 2008, real estate being the most obvious. People with high debt which is backed by deflated assets will suffer the most and many will default. Most of them who do default will probably make any sacrifices to prevent losing their homes, just whine for goverment action. The resultant bailouts, which have already started and are sure to continue under the new administration will be a heavy burden to tax payers for many years. My two sons, now in there twenties,will probably be retirement age when and if these irresponsible actions are paid for. If I was a young man just starting out I would get a minimum wage job to be taxed on and work at anything and everything on the side for cash money to make a living.
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Today's Featured Article - Restoration Story: 1964 JD 2010 Dsl - Part 2 - by Jim Nielsen. Despite having to disassemble the majority of my John Deere 2010's diesel engine, I was still hopeful I could leave the engine-complete with crankshaft and camshaft-in the tractor. This would make the whole engine rebuild job much easier-and much less expensive! I soon found however, that the #4 conrod bearing had disintegrated, taking with it chunks of the crankshaft journal. As a resul
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