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Black monday coming up?

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billf:

--- Quote from: ChadTower on October 04, 2008, 12:04:39 am ---
--- Quote from: billf on October 03, 2008, 11:28:52 pm ---Terms:
House - 2 years
Senate - 6 years
President - 4 years
Supreme Court - Life

--- End quote ---
Supreme Court Justice is not an elected official.

--- End quote ---

True.  I just figured I'd cover most of the bases of the fed government since a bunch of different numbers were being thrown around.

RayB:

--- Quote from: protokatie on October 03, 2008, 10:08:29 pm ---could you imagine what would happen to the US if the president (in this case, someone as daft as Bush) could disolve the congress and call for a new vote at just a whim? Knowing Bush, he would have just kept doing it to effectivly destroy the congressional branch during his terms.
--- End quote ---
Well for one, Bush might not get re-elected?
That was my point of how it works in Canada. It's an election like any other one and for the Prime Minister's job too. So the scenario you describe wouldn't happen.

SavannahLion:

--- Quote from: SithMaster on October 02, 2008, 12:39:54 am ---
--- Quote from: SavannahLion on October 01, 2008, 06:19:20 pm ---
--- Quote from: ChadTower on October 01, 2008, 08:43:50 am ---
--- Quote from: protokatie on September 30, 2008, 09:20:48 pm ---
--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that.  The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.

--- End quote ---

Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....

--- End quote ---


The gov't has the right to say whatever it wants to say - not necessarily by law but by the apathy of the people.  There are never enough citizens to fight something the gov't really wants to do.  Haven't been for a long time.  On the FDIC issue, that's a general insurance issue, too.  Large reimbursements take time.  Reimbursements in quantity take time.  Your mortgage/rent do not take time.  All that has to happen is for your bank to go under and have them take two months to get you your cash back.  No mortgage/rent for two months and the result is obvious.

--- End quote ---

Holy crap, I never thought of it that way.

What about Credit Unions and NCUSIF?

At the rate everything is going to hell, my mattress and shotgun are going to be safer places for my money.

--- End quote ---

Until they run off together with your money.

--- End quote ---

Would you care to elaborate?

I'm not aware of any serious problems compared to a bank.

WunderCade:

--- Quote from: protokatie on October 02, 2008, 09:24:40 pm ---Also, not all of the senate is voted in on a single 4 year cycle, their elections are staggered.

--- End quote ---

Correct.

The entire House of Representatives is up for re-election every two years.

But in the Senate, although the term is 6 years for Senators, 1/3 of that chamber is up for re-election every 2 years (it's staggered).

SithMaster:

--- Quote from: SavannahLion on October 05, 2008, 12:37:45 pm ---
--- Quote from: SithMaster on October 02, 2008, 12:39:54 am ---
--- Quote from: SavannahLion on October 01, 2008, 06:19:20 pm ---
--- Quote from: ChadTower on October 01, 2008, 08:43:50 am ---
--- Quote from: protokatie on September 30, 2008, 09:20:48 pm ---
--- Quote from: ChadTower on September 30, 2008, 08:23:21 pm ---
Rethink that.  The FDIC is stable and insures you against loss of your money... but doesn't make guarantees as to when you'll get it.

--- End quote ---

Will you care to expound on that? Im not up on my FDIC insurance policies. Does the gov have the right to just say "No! To Drugs (and paying you what the insurance was for)"? Im not too worried about my bank, it is a small local Maine bank that is in an area that is of little risk. But still, I would like to know what you know of FDIC policies when it comes to payment....

--- End quote ---


The gov't has the right to say whatever it wants to say - not necessarily by law but by the apathy of the people.  There are never enough citizens to fight something the gov't really wants to do.  Haven't been for a long time.  On the FDIC issue, that's a general insurance issue, too.  Large reimbursements take time.  Reimbursements in quantity take time.  Your mortgage/rent do not take time.  All that has to happen is for your bank to go under and have them take two months to get you your cash back.  No mortgage/rent for two months and the result is obvious.

--- End quote ---

Holy crap, I never thought of it that way.

What about Credit Unions and NCUSIF?

At the rate everything is going to hell, my mattress and shotgun are going to be safer places for my money.

--- End quote ---

Until they run off together with your money.

--- End quote ---

Would you care to elaborate?

I'm not aware of any serious problems compared to a bank.

--- End quote ---

It was a joke.  A very bad joke.

Well the main reason to keep your money in a bank is the interest it earns not to mention it is insured in case of theft/stuff.

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