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| Anonymous Coward
User ID: 455019
6/21/2008 3:58 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The LEAP/E2020 team has decided to launch an alert on the July-December 2008 period.
Indeed, our team is now convinced that this period will consist for the whole world in a major plunge into the heart of the phase of impact of the global systemic crisis.
The upcoming six months are in fact the core of the unfolding crisis. The troubles met in the past six months were mere harbingers.
[link to www.leap2020.eu] |
| Anonymous Coward
User ID: 456822
6/24/2008 7:23 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
THE GLOBAL ENERGY MARKET:
COMPREHENSIVE STRATEGIES TO MEET GEOPOLITICAL AND FINANCIAL RISKS.
ENERGY, FINANCIAL CONTAGION,AND THE DOLLAR.
[link to www.rice.edu] |
| Anonymous Coward
User ID: 180728
6/29/2008 3:49 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Barclays warns of disaster as Fed loses all credibility.
Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero."
[link to www.gata.org]
28th June.
Fortis Bank predicts US Financial market meltdown within weeks.
[link to jessescrossroadscafe.blogspot.com]
Warnings from Europe ahead of a US crash which is ignored by the American media and dismissed by the financerati have an historic resonance, as in the case of the stock market crash of 1929.
BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few weeks. The situation in the US is much worse than we had thought", says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also with Citigroup, General Motors, a complete meltdown in the US is beginning." |
| Anonymous Coward
User ID: 434951
6/30/2008 10:26 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
And so it begins. |
| Anonymous Coward
User ID: 462931
7/5/2008 2:45 AM | | Anonymous Coward
User ID: 385176
7/5/2008 2:49 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Ron Paul! |
| anonomous coward
User ID: 463186
7/5/2008 4:10 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
............................................................ ............................................................ .until reasonable cost energy gets back into the mix real fast for all nations then things will grow worse.many cannot go to get in debt for fuel efficent auto in shaky job market...................it would be financial suicide....fire opec........they do this every 20 or so yrs and upset the goofy religious bums in the middleast................................................... ..................................... |
| Anonymous Coward
User ID: 463194
7/5/2008 4:53 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
So when you all go thru the next Greatest Depression, then you can bore your grand kids with tales of how hard you had it in the bad times of yore ... Quoting: the Stupidest Generation 413525
"I remember back in double-aught and 8..." |
| Anonymous Coward
User ID: 434951
7/5/2008 5:03 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
TPTB HAVE JAILED HIM BECAUSE HE WOULDN'T DIVULGE HIS MARKET SECRETS !
The Business Cycle And the Future.
By Martin A. Armstrong
Princeton Economic Institute
© Copyright September 26, 1999
[link to princetoneconomics.blogspot.com] |
| Anonymous Coward
User ID: 462931
7/5/2008 5:36 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
[link to online.barrons.com]
Gloom and Doom ?
Nah; Just for the U.S.
By LAWRENCE C. STRAUSS
AN INTERVIEW WITH PETER D. SCHIFF: The U.S. wouldn't be afloat without help.
PETER D. SCHIFF IS AN EXTREME BEAR WHEN IT COMES to investing in the U.S., and he's made a name for himself selling his point of view with considerable zeal, often on television but also in print. Schiff, 43, has contributed articles to Newsweek International and other publications, and he is the author of the recently published Crash Proof: How to Profit from the Coming Economic Collapse. Our own Alan Abelson cited his musings in a recent column.
However, comparing Schiff's performance with a benchmark is impossible because he does not run a fund; instead, he recommends stocks for clients' brokerage accounts. Schiff, who holds a degree in finance and accounting from the University of California at Berkeley, is president and chief global strategist of Euro Pacific Capital, a brokerage he founded in the mid-1990s that emphasizes international stocks, preferably with dividends.
Not everybody is a fan. Schiff has been criticized for aggressively courting publicity to tout his doomsday message relating to U.S. equities and the domestic economy. But he has been right on several key calls, notably the weakening greenback and his emphasis on international stocks, and he has helped his clients make money. Barron's caught up with him recently.
"The rest of the world has been selling us goods and hoarding our securities. They are not going to be doing that anymore." – Peter Schiff
Barron's: When did you turn bearish on the U.S.?
Schiff: A long time ago I worked as a retail broker at Shearson Lehman Brothers and I was selling tech stocks, and I was generally bullish. I had difficulties with some of the problems in our economy, but I was recommending U.S. stocks. I left Lehman in 1991. In the mid-1990s, when I was working for a small broker-dealer in California and then for my own firm, I started getting concerned about the dollar. So I began getting some clients invested in some foreign stocks -- just to get out of the dollar a bit. The dollar had a big drop, and then it started to rally in the late-1990s, in conjunction with the tech bubble. It was all part of foreigners' efforts to try to participate in the Nasdaq's bubble.
What kinds of stocks did you like in those days?
Traditional value stocks with dividend yields. I also liked commodities, so I was buying international oil stocks back when oil was under $20 a barrel. The stocks I recommended weren't doing very well in '98 or '99, especially after the Asian crisis, but they started doing better around 2000. I turned really, really bearish on the U.S. when I saw what the Federal Reserve was doing to prevent a recession in the early part of this decade, notably pumping a lot of liquidity into the system.
You continue to be very bearish on the U.S. But haven't there been other times when there was lots of negative sentiment toward the U.S., only to see another era of prosperity emerge? Such as the late 1980s, when there was concern that Japan would take over the U.S. economy. Look at how that turned out.
Yes, but we haven't been through anything like what we are going through now. The United States has really been living in a fool's paradise, or a phony economy, probably for more than 20 years. But our economy has been growing and getting bigger and bigger. We have been able to convince the world to lend us money and to provide us with goods that we don't produce and that we can't afford to pay for with exports. And it has gotten to the point now where the problem is so big, especially since the real-estate bubble. We've now borrowed so much money from abroad. Our trade deficits are now very big, and our industrial base and our infrastructure have been allowed to decay for so long, that we are now at a point that we can only survive as an economy thanks to the charity of the rest of the world. They have provided us with all the goods that we can no longer produce because we lack the industrial capacity. And they have to lend us the money because we don't have any savings anymore.
What's your take on oil prices?
As oil prices are going up in the U.S., they are not rising nearly as fast in other countries because their currencies are strengthening. Ultimately, when currencies like the renminbi that are pegged to the dollar are allowed to float, I see the Chinese currency rising five-fold against the dollar. That would make oil a lot cheaper in China relative to what it would cost in the U.S.
Speaking of China, how do you see things developing there and its impact on the U.S. economy?
The whole science of economics, as I see it, is how do you satisfy unlimited demand with limited resources? China has more than one billion people. It is not as if Americans are unique in wanting things. It's not as if the Chinese don't want dishwashers. The reason they don't have those possessions is because they don't have the purchasing power. But they do have that power; it's just that their government is taking it away from them and giving it to us. But it is Americans who can't afford these goods, because we can't produce them. So if the renminbi is allowed to rise, then Chinese factory workers will be able to afford the products they are producing instead of shipping them over here. That's going to be a major, major boon for their economy.
So it sounds as if the U.S. will be relegated to second- or third-tier status.
The U.S. is in trouble. We are a post-industrial society, which is the same as a pre-industrial society; our manufacturing base has disintegrated. It's not nonexistent; we still make some things and we are still competitive in some areas. But on the whole, as a nation we are not competitive. We are mainly a nation of a service sector and consumers, and that's going to have to change. Nor do we have the savings that we need to fund the transition.
What could go wrong with your scenario?
Somehow, the U.S. could buy itself some additional time. We could convince the world -- Europe and Asia -- that they need us, and that while propping up the U.S. economy is going to hurt them with more inflation, letting the U.S. collapse is going to be even worse. Of course, none of that is true. The truth, in my view, is that the cost of propping us up far exceeds the cost of letting the U.S. economy collapse. But I think we are already in a pretty severe recession.
But isn't there an argument that once we clean up this housing mess -- along with the credit bubble, whenever that occurs -- the U.S. will be a lot closer to a bottom, where the outlook begins to improve?
I don't think that's true. The resolution to the housing problem is going to mean housing prices are going to be a lot lower than they are now, and most Americans are not going to have any home equity. It's going to mean that trillions of dollars will have been lost by the lenders. When the home equity is gone, Americans are broke, as they don't have any savings. All they had was their home equity. They were counting on their home equity, without which they will be unable to pay off their credit cards.
But don't U.S. companies that do business abroad benefit from all of the trends you have outlined?
Yes, they are going to benefit to the extent that they can generate higher sales abroad. But ultimately the shareholders are not necessarily benefiting just because a multinational company earns more dollars. If the dollars have less purchasing power, they are not necessarily better off. The way I see it, we are just putting our goods on sale to sell more of those goods. But if you want to look at U.S. corporate earnings in terms of euros, barrels of oil or gold bullion, these companies are not necessarily seeing a real increase in earnings.
Plenty of investors and financial advisers have decreased their allocations to U.S. stocks in recent years. Why not do that instead of completely writing off the world's largest economy?
Individuals can make their own decisions. I don't see a way for the U.S. economy to avoid a major retrenchment. There's no way that U.S. assets are not going to be marked down relative to foreign assets. Therefore, I would rather invest in the rest of the world. There are plenty of people who for the whole decade of the 1990s were investing everywhere but Japan, which is the second biggest economy in the world. Why were they excluding Japan? It was obvious that it was in decline. I'm saying the same thing about the United States. I don't care if it is the biggest economy in the world; it is in decline. There are going to be a lot of losses in the United States, so why don't I avoid it? Worst-case scenario: I miss out on the U.S. market. But what are the odds that it is going to outperform all the other major markets that I am investing in? And I can't see how the dollar is going to be moving up over time.
Why keep your business open here? Why not set up shop in Asia?
Right now my business is helping Americans to preserve their wealth from a collapse of the U.S. dollar. If I were to go to a different country, obviously I would have to come up with a different business. I don't think people in China need to protect their wealth; they are going to do great. My business works better here. I could try to run the business from overseas, say the Cayman Islands or Australia, but I have friends and family here. I'm optimistic.
I've supported political candidates in the U.S., including Ron Paul, who ran for the Republican presidential nomination this year. I'm not writing America off. But I'm trying to educate people so that they understand that when this economy does collapse, it is not because of capitalism but that it's because of too much government.
What kinds of stocks do you look for?
The dividend is the most overlooked and important component of equity investing. Capital appreciation is great, but that's the icing; the cake is the dividend yield. I look for good dividend yields, but I want to get them in currencies that are gaining in value so that my clients can maintain their purchasing power here. These companies are playing into the growing purchasing power of the rest of the world -- not the shrinking purchasing power of the United States. The rest of the world has been selling us goods and hoarding our Treasuries and mortgage-backed securities. They are not going to be doing that anymore. They are going to spend their earnings on themselves.
How about a few stocks that you like?
One of the mining stocks that I have been buying, although it has pulled back a lot, is Oxiana [ticker: OXR.Australia]. Oxiana and Ziniflex, another Australian mining company, just merged. Another holding is an infrastructure play called Road King Infrastructure [1098.Hong Kong], which is listed in Hong Kong. It's also pulled back quite a bit. I also like Singapore Petroleum [SPC.Singapore]. Those are three names I've have been buying recently. One is a play on the growing infrastructure in China, while the other two are ways to invest in resources. A lot of people look at me and say, "Peter you are gloom and doom." I'm not gloom and doom.
Well, you are pretty gloomy on investing in the U.S.
I'm very negative on the U.S. economy. But I'm very optimistic on a lot of other economies. A lot of people tell me, 'Peter, this doesn't make any sense. How can you be so dire and gloomy on the U.S. and yet so positive on the rest of the world?' That shows you I'm not just gloom and doom. I recognize that contrary to popular opinion, the U.S. economy has been a drag on the global economy, and that when the rest of the world stops subsidizing us, growth abroad will actually improve as a result.
Surely you see some light at the end of the tunnel for the U.S.?
It is a long tunnel and the light is far away. But, yes, in the end I'm still optimistic that we can one day dig ourselves out of this hole. Look at the Germans and Japanese. They lost World War II, but here they are. We didn't lose a war, but in many respects we did in that our factories have been destroyed even though they weren't bombed.
What's a reasonable plan for the U.S. to right the economic ship?
We are going to have to replenish our savings. We are going to have to rebuild our industry. We are going to have to repair our infrastructure. All of that is possible, though it's not easy. It's going to be very difficult given the current level of government we have, along with the types of taxation and regulations we have. To really rebuild the economy, we are going to need cooperation from government and the government is going to have to get out of the way and make itself a much smaller burden on society, which means major reductions in government spending, taxes and regulations.
Thanks, Peter. |
| Anonymous Coward
User ID: 462931
7/5/2008 11:18 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
[link to www.theaustralian.news.com.au]
Nirvana out of American reach.
Paul Kelly
July 05, 2008
Writing in the May-June issue of Foreign Affairs, US strategic analyst Fareed Zakaria, whose new book The Post-American World is reviewed in The Weekend Australian Review today, puts the oil trend into a wider context, arguing that the third great power shift of the past 500 years is under way.
The first was the rise of the Western world that began in the 15th century; the second was the rise of the US in the late 19th century; and the third is what analysts call the rise of the rest. This is the shift in power to parts (but not all) of the developing world that are "experiencing rates of economic growth that were once unthinkable" and whose total gross domestic product surpasses that of the industrialised nations.
Countries driving this structural change are China, India, Brazil, Russia, the Organisation of the Petroleum Exporting Countries and Gulf nations, and parts of Southeast Asia. |
| Sen Yama
User ID: 457608
7/6/2008 12:09 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Why is it that everyone centers on September of this year? Which source are we relying on? If this crap can't wait until AFTER my birthday this year (don't care if it ruins my next birthday), I want to know WHO says, and WHY. |
| Anonymous Coward
User ID: 462931
7/6/2008 12:46 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Excerpt from the August 2005 edition of the International Speculator (the predecessor publication of The Casey Report).
What Is a Depression ?
By Doug Casey.
Because we've just completed what's probably the longest economic expansion in history, combined with the strongest securities bull market in history, very few people are willing to consider tough times – let alone The Greater Depression. But, perverse though it may seem, for many this is the very best time to think about it.
The U.S. economy is a house of cards, built on quicksand, with a tsunami on the way.
I urge everyone to read up on the topic. For now, I'll only briefly touch on the nature of depressions. There are at least three good definitions of the term:
1. A period of time when most people's standard of living drops significantly.
2. A period of time when distortions and misallocations of capital are liquidated.
3. A period of time when the business cycle climaxes.
Using the first definition, any natural disaster can cause a depression. So can living above your means for long enough. But the worst kind of depression has economic causes. That's where definitions 2 and 3 come in.
What can cause distortions in the way the market operates, causing people to do things they'd otherwise consider unreasonable or uneconomic ? Only government action, i.e. coercion.
This takes the form of regulation, taxes, and currency inflation. Always under noble pretexts, government is constantly – directly and indirectly – inducing people to buy and sell things they otherwise wouldn't, to do things they'd prefer not to, and to invest in things that make no sense.
These misallocations of capital subtly reduce a society's general standard of living, but the serious trouble happens when such misallocations build up to an unsustainable degree and reality forces them into liquidation. The result is bankrupted companies, defaulted debt, and unemployed workers.
The business cycle is caused mainly by currency inflation, which is accomplished today by the monetization of government debt through the banking system; using the printing press to create new money is largely passé in today's electronic world.
Either way, inflation sends false signals to businessmen (especially those who get the money early on, as it propagates through the economy),making them overestimate demand for their products. That causes them to hire more workers and make other increased investments.
This is called “stimulating the economy.”
Inflation can actually drive down interest rates for a while, because the price of money (interest) is lowered by the increased supply of money. This causes people to save less and borrow more – just as Americans are doing today. The apparent standard of living takes an upswing. It all looks pretty good, until retail prices start rising as a delayed consequence of the increased money supply, and interest rates skyrocket to reflect the depreciation of the currency.
That's when businesses start failing. Stocks fall. Bond prices collapse. Large numbers of workers lose employment. Rather than let the market adjust itself, government typically starts the process all over again with a new and larger “stimulus package.” The more often this happens, the more ingrained become the distortions in the way people consume and invest, and the nastier the eventual depression.
This is why I predict the Greater Depression will be... well... greater.
This is going to be one for the record books.
 |
| Anonymous Coward
User ID: 322321
7/6/2008 12:55 AM | | Anonymous Coward
User ID: 322321
7/6/2008 1:30 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Alex
Shamash
is the first and last name for
flowers
at GLP.
HIDE if you value freedom of
expression, because
jerry_springer
is the name of the partner whose
shenanigans will bring GLP
D
O
W
N Quoting: Anonymous Coward 463683
 |
| Anonymous Coward
User ID: 464139
7/6/2008 10:58 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
* NO OFF TOPIC MATERIAL IN THIS THREAD PLEASE *
America was conned - who will pay ?
[link to www.guardian.co.uk]
March 17, 2008
The South Sea Bubble ended in riots as trust was lost. Wall Street also duped the public.
Bear Stearns marks the moment when the global financial crisis went critical. Up until last Friday, it had been possible - just about - to believe that the worst was over and that things were about to get better. That pretence was stripped away when JP Morgan, at the behest of the Federal Reserve, stepped in when the hedge funds pulled the plug on the fifth-biggest US investment bank.
It is now clear that no end is in sight to the turmoil, and the reason for that is that the Fed and the US treasury are no closer to solving the underlying problem than they were eight months ago. The crisis will only end when house prices stop falling and banks stop racking up huge losses on their loans. Doing that, however, will require the US government to intervene directly in the real estate market to end the wave of foreclosures. Ideologically, it is ill-equipped to take that step and, as a result, property prices will fall and the financial meltdown will go on and on.
Ultimately, though, action will be taken because there will be political pressure for it. Indeed, it is somewhat surprising that there is not already rioting in the streets, given the gigantic fraud perpetrated by the financial elite at the expense of ordinary Americans.
The US has just had its weakest period of expansion since the 1950s. Consumption growth has been poor. Investment growth has been modest. Exports have been sluggish. But if you are at the top of the tree, the years since the last recession in 2001 has been a veritable golden age. Salaries for executives have rocketed and profits have soared, because the productivity gains from a growing economy have been disproportionately skewed towards capital.
Patriotic
For ordinary Americans, though, it has been a different story. Real wages have been growing slowly; at just 1.6% a year on average over the latest upswing, well down on the experience of earlier decades. Business, of course, needs consumers to carry on spending in order to make money, so a way had to be found to persuade households to do their patriotic duty. The method chosen was simple. Whip up a colossal housing bubble, convince consumers that it makes sense to borrow money against the rising value of their homes to supplement their meagre real wage growth and watch the profits roll in.
As they did - for a while. Now it's payback time and the mood could get very ugly. Americans, to put it bluntly, have been conned. They have been duped by a bunch of serpent-tongued hucksters who packed up the wagon and made it across the county line before a lynch mob could be formed.
The debate now is not about whether the US is in recession but how deep and long that recession will be. Super-bears have started to say that this is perhaps "The Big One", by which they mean the onset of a new Great Depression. The need to rescue Bear Stearns has done little to still those voices.
As the economics team at HSBC recently pointed out, there has been a "catastrophic breakdown" of trust, and when that has happened in the past - the US in the 1930s, Japan in the 1990s - chucking extra money at the banks in the hope that they will start lending again proves ineffective.
It's not hard to see why trust has become such a rare commodity: Wall Street at the height of the securitisation mania had, in effect, become London at the time of the South Sea Bubble crisis in 1720. Vast quantities of funny paper were changing hands even though those involved in the deals had no idea of their true worth. Nor did they care. Inevitably, now the bubble has burst and the huge Ponzi securitisation scam has been exposed, there has been a reaction. The securitisation market is dead, there is less money sloshing round the system, banks are hoarding their cash.
Having allowed the housing boom to rage out of control for too long and then delaying cuts in interest rates until the housing market was gripped by recessionary forces, the Fed is now trying to make up for lost time with a burst of hyperactivity. It will cut interest rates on Wednesday and keep cutting them: financial markets expect the Fed funds rate to be 1% by the summer, and they are probably right. In most downturns, easier monetary policy does the trick. Lower interest rates make it cheaper to borrow and also change the trade-off between saving and spending. This may not be the usual sort of downturn, however, with consumers going through a period of debt revulsion after the excesses of recent years, even so the consensus is that after two or three quarters of falling output, a slow and sluggish recovery will be under way.
Deflation
These hopes are likely to be dashed, unless there is intervention at home and internationally to tackle the crisis. Domestically, the priority should be to stop homes that have been foreclosed being auctioned on the open market, since by selling them at a 50% discount property prices are driven down. The US does not seem to have learned the lessons from Japan, which encouraged a fire sale of property in the 1990s and was sucked into a classic debt deflation trap as a result. Those who argue, with some force, that it would be counter-productive to intervene in the market because the US needs to work the rottenness out of its system must recognise that the cold turkey option will be very long and painful.
The second form of intervention should be to shore up the dollar, the collapse of which is worrying countries that rely heavily on exports and is the main reason for the surge in commodity prices. Co-ordinated intervention by the major central banks needs to be at the top of the agenda at next month's G7 meeting in Washington, and there could be action even sooner if the dollar continues to tank.
In the longer term, lessons must be learnt from the turmoil. One is that you don't solve the problems of a collapsing bubble by blowing up another, which is what Alan Greenspan did after the dotcom fiasco in 2001 - the most irresponsible behaviour of any central banker in living memory.
The second lesson is that there has to be far stricter regulation not just of the US real estate market but of Wall Street, to prevent the return of irresponsible lending as soon as the recovery is firmly under way. If this is, heaven help us, The Big One, one of the only consolations will be that the repugnance at the orgy of speculation that has sapped the strength of the US economy will put a new New Deal on the political agenda.
But for this to happen there has to be a political response and even though this year's presidential election will be held in the shadow of recession, there appears not to be a potential FDR among the contenders for the White House. Yet if this crisis really does get as bad as some are forecasting, the public will rightly demand more than a slap on the wrist for Wall Street. |
| Anonymous Coward
User ID: 211268
7/6/2008 11:22 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Quoting: Anonymous Coward 322321
What concerns me most is the fact that PM's won't be that liquid.
You have banks failing left, right and center who is going to take your silver or gold and exchange it for cash to buy what you need?
People with PM's are far in the minority.
Silver hasn't been legal tender for over 2 generations.
Gold for 100 years and counting.
Who is going to recognize it for money besides someone else who has it? |
| Anonymous Coward
User ID: 322321
7/7/2008 12:20 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
read and learn !!
Got milk and ..silver ??
[ link to www.financialsense.com]
What concerns me most is the fact that Pm's won't be that liquid.
You have banks failing left, right and center who is going to take your silver or gold and exchange it for cash to buy what you need?
People with Pm's are far in the minority.
Silver hasn't been legal tender for over 2 generations.
Gold for 100 years and counting.
Who is going to recognize it for money besides someone else who has it?
The question is : who is going to want your paper worthless dollar , silver / dollar are worldwide liquidity assets !!
Silver / Gold are the ONLY world-wide currencies!!
What do you expect China is going to buy with the 1.7 trillion dollars national reserves ?? American cars , burgers , hahaha
Old, Hard, core and cold assets : mines,PM,etc. |
| Anonymous Coward
User ID: 460467
7/7/2008 2:20 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The very bottom level currency is food. |
| Anonymous Coward
User ID: 464139
7/7/2008 2:54 AM | | Anonymous Coward
User ID: 451359
7/8/2008 9:24 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Poor sheeple in USA don't understand its already started. |
| Anonymous Coward
User ID: 465252
7/10/2008 8:26 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
very interesting ..................
Astrology Predictions for 2007-2008 based on planetary aspects.
[link to www.luckydays.tv] |
| Anonymous Coward
User ID: 465252
7/10/2008 9:52 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
What you are about to read is the single most important
commentary I’ve written since I first began publishing The
Grandich Letter in 1984.
Every American should read it, and those who do will likely wish they hadn’t. What I’m about to speak of is the hardest thing I ever had to do in my life. What I speak about is not only IMHO going to profoundly impact hundreds of millions of Americans but will also directly hit me and my family.
Never have I wished anything I did could be as wrong as this, but I know in my heart it is right.
[link to www.grandich.com] |
| Anonymous Coward
User ID: 434951
7/11/2008 1:40 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Grandich seems real scared
this aint good |
| Anonymous Coward
User ID: 466268
7/12/2008 11:22 PM | | Anonymous Coward
User ID: 434951
7/13/2008 6:15 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
that list of failed banks will get mega big
ha ha ha ! |
| Anonymous Coward
User ID: 467314
7/14/2008 8:02 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The Financial Frankenstein is On The Loose.
Fan/Fred is bankrupt. Yes, B-A-N-K-R-U-P-T
By Robert Folsom
Fri, 11 Jul 2008
Everything you've heard and read about Fannie Mae/Freddie Mac this week (and for weeks to come) is rubbish.
Fan/Fred is bankrupt. Yes, B-A-N-K-R-U-P-T
While I'm at it, please remember this as well: The politicians and policy pooh-bahs who say Fan/Fred is "too big to fail" are actually acknowledging that The Monster has failed ALREADY. I could write a lot of words about how corrupt these two institutions have been over the past decade -- multi-billion dollar scandals that paid multi-million dollar bonuses to executives, via accounting abuses on a scale that required 1,500 consultants to sort out.
The Monster sends swarms of lobbyists to protect itself in Washington and swarms of money to both parties via soft-money contributions. It has a multi-million dollar budget to pump up its "image," but will not hesitate to squelch unflattering research -- such as the Federal Reserve study which showed that Fan/Fred does "not appear to have substantially increased homeownership or homebuilding."
Years and years of corrupt behavior produced layer and layer of congressional and regulatory "oversight." Yet today, The Monster mocks its creator more loudly than ever.
It has become a financial Frankenstein. And should anyone be surprised? The Monster received its artificial life from the government. It grew to its extraordinary strength and size because the government endowed it with artificial advantages (the implicit promise of a bailout which allowed borrowing at lower rates and lending at higher ones). And its creator (the government) could and did boast of how it did the world a favor, because its Creation "stimulated mortgage lending" and "made homeownership possible for more families."
The Monster's "favors" now look increasingly like a ravishing of the entire financial landscape. But unlike the monster in the Frankenstein movie, the government cannot kill the Fan/Fred monster: pardon the mixed metaphor, but the Fan/Fred monster is a parasite that cannot be killed without also risking the life of the host, namely the entire banking and financial system. |
| Anonymous Coward
User ID: 469712
7/17/2008 10:57 AM | | Anonymous Coward
User ID: 434951
7/18/2008 6:31 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Have a guess when some directors of Citibank sold most of their holdings in their own fucking company ?
Between July 2006 and May 2007 they sold $750,089,507 worth of Citibank shares !
Price was around $48 - $54 then. |
| Anonymous Coward
User ID: 470845
7/20/2008 1:18 AM | | | Page 1, 2, 3, 4, 5, 6, 7 | |
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