FDIC nearly insolvent

Was to tell friends to stick their money in a mattress. But, I realize that Obamination will just print money to prop the FDIC up. We'll still have our savings. They just won't be worth anything.

Wish I had enough money saved up to get into that gold-buying thing.

Congress started the bailout process today.

I wouldn't invest in gold. If our market is merely depressed, then it might be a good buy. But if our market crashes in the next decades, as I expect it has to (particularly if terrorism strikes again), then gold will be next to worthless.

First, it's nothing more than an IOU unless you actually have the gold in hand. That goes for all stocks -- all you own is paper IOUs, and if the market crashes those IOUs will not be paid.

Second, gold is useful as an element, but it's not a commodity for common, everyday use. If the market crashes, pawn shops won't be buying gold anymore. Only government and other powerful entities will be buying gold, and they won't pay much for it.

If our economy fully collapses, as I expect, then bottled water, canned goods, ammo and firearms will be the most valuable commodities. And buying the latter is like doubling down, because another likely future for us is revolution or war.

Mind you, all of this might be years down the line, but within the next 10-20 years.