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>>THE NEXT GREAT DEPRESSION<<
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Anonymous Coward
User ID: 470845
7/20/2008 11:05 AM | |
Anonymous Coward
User ID: 473752
7/26/2008 10:16 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Hyperinflationary Depression 2010.
[link to www.financialsense.com]
[link to www.shadowstats.com]
The U.S. economy is in an intensifying inflationary recession that eventually will evolve into a hyperinflationary great depression. Hyperinflation could be experienced as early as 2010, if not before, and likely no more than a decade down the road. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, and gross mismanagement.
Status Report on the Collapse of the U.S. Economy.
[link to www.infowars.com]
You Know The Banking System Is Unsound When...
[link to globaleconomicanalysis.blogspot.com]
Are you ready for economic collapse ?
Americans are less prepared than the Soviets were.
[link to webofdebt.wordpress.com]
The train has already derailed, but our media are barely reporting it. Dmitry Orlov lived through the collapse of the Soviet Union during the cold war. In his book “Reinventing Collapse” he compares the preparedness of the Soviets prior to the cold war to the preparedness of Americans today.
The economic disaster will get worse.
'21st-century stagflation: a toxic brew of soaring inflation and slumping growth'
[link to www.telegraph.co.uk]
ONE BILLION dollars being spent to advertise new film warning of U.S. economic collapse.
[link to www.nytimes.com]
[link to www.pgpf.org]
[link to www.bloomberg.com]
[link to youtube.com]
"Mr. Peterson, co-founder of the Blackstone Group and a secretary of commerce under President Richard M. Nixon, will spend $1 BILLION in an effort to get the public’s attention. The money, which comes from the windfall Mr. Peterson received when Blackstone went public last year, will finance a media blitz, starting with a documentary - I.O.U.S.A. - "You can buy a lot of airtime” with $1 billion, Mr. Peterson said. "People are going to hear from us.”
House of Cards
[link to www.informationclearinghouse.info]
" To keep up appearances, the 'Plunge Protection Team' has been
authorized by presidential order to use U.S. taxpayer money to
manipulate markets to make them appear healthier than they are, and
lately it has been working overtime. But official assurances of a
soft landing are mere window dressing, aimed at preventing another
worldwide depression as home buyers and stock market investors
stampede for the exits "
The party's over.
[link to commentisfree.guardian.co.uk]
The Worst U.S. Housing Market in a Generation Could Mean $1 Trillion in Write-Downs.
[link to www.moneymorning.com]
FDIC Sets New Rules on U.S. Deposits to Avoid System Failure.
[link to www.chinapost.com.tw]
July 18 The Federal Deposit Insurance Corp. set new rules for U.S. banks that let regulators take charge of paying off depositors in a move to prevent industrywide spillover in the event of a large failure.
The new FDIC rules will require banks to standardize the information they provide on deposit accounts and to establish systems to *automatically place holds on accounts with large deposits* the Wall Street Journal reported.
[link to www.fdic.gov] |
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Anonymous Coward
User ID: 451359
7/26/2008 11:04 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
time to leave the USA perhaps ? |
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thats an option
User ID: 470043
7/27/2008 12:13 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
time to leave the USA perhaps ? Quoting: Anonymous Coward 451359
But where does one go? I guess for me, just "getting ready"-
-buy some silver and bury it
-buy a few months of food to store
-buy a Berkey water filter (gravity fed)
-get all my dental/medical stuff done
-go back to school to learn a trade that will work in the depression
-learn how to farm, camp, get along with others differant than me.
-start praying for moms and kids, the elderly and disabled.
-keep on thinking free
I have done all these things, now its coping while I see the thing unfold.
next on the list is to get my rifle and 1000 rounds, plus do a lot of target practice. This is for a last resort. |
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Anonymous Coward
User ID: 280833
7/27/2008 10:55 AM | |
Anonymous Coward
User ID: 280833
7/27/2008 10:18 PM | |
Anonymous Coward
User ID: 280833
7/28/2008 12:40 PM | |
Anonymous Coward
User ID: 179289
7/30/2008 3:37 AM | |
Anonymous Coward
User ID: 477647
8/2/2008 4:45 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The Road to Hell
[link to www.europac.net]
The mammoth government bailouts of failing home lenders Fannie Mae and Freddie Mac, have sparked widespread relief that the worst-case economic scenario has apparently been avoided. Treasury Secretary Paulson, the primary engineer of the avalanche of government guarantees, has even been hailed as the "Hero of Capitalism."
However when the history of the rise and fall of the United States of America is finally written, the "housing bailout bill" will be shown to be a seminal event. If the road to hell is paved with good intentions, we just laid down a mile of asphalt.
Markets have responded the way they always do to news that seems positive. Gold is down and the U.S. Dollar and American stocks have staged minor relief rallies. But as the harsh realities of these "bailouts" become clear, in the form of hundreds of billions of new government debt likely to be monetized, the good feelings will vanish and the panic selling will begin.
Soon investors will realize that the government has just thrown gasoline on the wild fire it set in the first place. The economy will be torched and what is left of our free market economy burned to a cinder. |
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Anonymous Coward
User ID: 322321
8/7/2008 9:29 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
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Anonymous Coward
User ID: 493721
8/30/2008 3:27 AM | |
Anonymous Coward
User ID: 322321
9/6/2008 9:28 PM | | 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]
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Anonymous Coward
User ID: 502469
9/13/2008 6:51 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Jim Rogers warns of a mega crash:
The U.S. financial crisis has cut so deep – and the government has taken on so much debt in misguided attempts to bail out such companies as Fannie Mae and Freddie Mac – that even larger financial shocks are still to come - global investing guru Jim Rogers said.
Indeed, the U.S. financial debacle is now so ingrained – and a so - called “Super Crash” so likely – that most Americans alive today won't be around by the time the last of this credit-market mess is finally cleared away – if it ever is, Rogers said.
The end of this crisis “is a long way away,” Rogers said. “In fact, it may not be in our lifetimes.”
[link to ronpaulforum.info]
[link to www.moneymorning.com] |
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Anonymous Coward
User ID: 495098
9/13/2008 7:09 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
WHAT?? WHATS this about, I THOUGHT they said the ECONOMY was S-A-I-L-I-N-G ALONG JUST FINE???? And now they go and change their MIND???
And the sad thing is that many sheeple actually believe the lies about the 'strong' economy.
Unfortunately they will suffer for their stupidity. Quoting: Anonymous Coward 432860
The truth about the U.S. economy is showing big time in my home town. I have friends who have been un-employed for months and who are cutting down trees in their back yards to prepare for heat this winter.
There are no jobs and even the hospital has cut way back.
One friend who has been un-employed for almost a year now does volunteer work at the local hospital and tells me that it's like a ghost town in there at night. All the lights are dim or turned off and there's no one walking around.
I notice a huge difference in traffic going back and forth to work also. There is hardly any and it used to be lined up.
If the Dow is going up it's because someone else is making the money, it sure isn't the working class.
The rich still seem to be living it up as far as I can see. Nothing is slowing down their fun times around here. |
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Anonymous Coward
User ID: 495098
9/13/2008 7:22 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. Quoting: Anonymous Coward 467314
I alway's believed that when you went for a mortgage, that you didn't pay the true value of the house. You paid what you could afford'
When I bought my house, the bank wanted to know all my financial info. How much did I pay each month for this and that, and that and this.
Then they told me what my morgage payment was going to be.
Funny it comes out to just about what I have left each month. But they do leave me enough for gas to get to work. |
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Anonymous Coward
User ID: 322321
9/15/2008 1:07 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Prepare for bread and soup lines !!
 |
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Anonymous Coward
User ID: 504199
9/15/2008 11:42 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The Ultimate Wall Street Nightmare.
by Martin D. Weiss, Ph.D.
[link to www.moneyandmarkets.com]
In the wake of Lehman's demise, Fed Chairman Bernanke and Treasury Secretary Paulson will try to put out the word that it's no great trauma.
But it's a lie and they know it. If they openly admitted that the Lehman collapse will paralyze Wall Street, torpedo the stock market and sink the economy, they'd have to pony up $100 billion or more to support it. Instead, their agenda was to push big banks to put up the money. And they failed to do so. |
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Anonymous Coward
User ID: 505657
9/18/2008 1:30 PM | |
anonymous coward
User ID: 487916
9/18/2008 1:33 PM | |
Anonymous Coward
User ID: 506583
9/20/2008 7:16 AM | |
Anonymous Coward
User ID: 506583
9/20/2008 7:22 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
'We’re going into the worst depression that any living person has ever seen. It’s going to be worse than the Great Depression of 1929 and I’ll give you a some reasons why.'
[link to www.earthfiles.com] |
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Anonymous Coward
User ID: 506583
9/20/2008 11:12 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Why the Bailouts Ultimately Won't Work.
19 Sep 2008
[link to elliottwave.com]
Each morning lately brings new revelations about how the U.S. government is trying to save Wall Street and the economy from falling into complete disarray. Examples from Friday's (9/19/08) news: a ban on short selling, the government guaranteeing money market funds up to $50 billion and promising to buy distressed mortgages from banks and institutions. Prior to these plans, the Fed announced it would bail out the huge mortgage guarantors, Fannie Mae and Freddie Mac. Bob Prechter supplies some much-needed perspective about the plan to bail out Fannie and Freddie in his most recent Elliott Wave Theorist.
* * * * *
Excerpted from The Elliott Wave Theorist, September 2008
Righting Some Misconceptions About The Latest Bailout:
Now that the government is bailing out Fannie and Freddie…
The government is not “bailing out Fannie and Freddie.” If these companies were allowed to fail, all that would happen is that creditors would divvy up their assets and sell them off, taking their lumps in the process. The speculators in credit default swaps (CDSs) who were right would justly win their bets, and the losers would have to pay. If the losers over-promised, they would have to sell off their own assets.
So whom are the feds bailing out?
They are bailing out the creditors who bought the IOUs that these companies created and the insurers who collected premiums on insurance against a fall in the value of Fannie and Freddie’s mortgages and mortgage-backed bonds. The guilty parties won’t have to pay, and the Chinese government, the “top foreign holder of Fannie Mae and Freddie Mac bonds,” won’t have to learn a lesson about investing. Politicians are shifting all that greed and stupidity onto the innocent, the by-definition prudent, American taxpayer and saver.
To be even more precise, the government is bailing out the dumbest creditors. Smart ones got out early. As EWFF reported in July 2004, “The European Central Bank has already eliminated its holdings of bonds issued by Fannie and Freddie and urged other European banks to do the same.” Only the dumbest investors own this stuff, and the government is disallowing them from learning something useful. In exchange, it is teaching taxpayers and savers a brutal lesson in civics.
Wasn’t the bailout necessary to save the financial system?
Government officials and newspaper editorials, even those from skeptical writers, have been unanimous in claiming that a bailout, no matter how unpleasant, was “necessary.” But this is nonsense. The only thing that has changed, the only thing the government can ever change, is who pays. A week ago, people on the hook were speculators who voluntarily took responsibility for losses when they grabbed the opportunity for gains. In fact, they have already booked years of gains, in the form of interest payments, along the way. Now, those on the hook are people who had nothing to do with the transactions in the first place.
This bailout will drain money from people who are solvent and thereby damage the financial system more in the long run. Producers and savers are the very people upon whom recoveries depend. By shifting the losses onto them, the government has now assured the ultimate devastation of the entire financial system. The bailout is not just unnecessary; it is another disaster.
Don’t many banks and funds have supplemental insurance to protect themselves ?
Tons of it. Insurers have written $62 trillion worth of credit-default swaps. Banks have private deposit insurance. But you have to understand: These seeming guarantees have been part of the problem, because they have given speculators a false sense of security. Insurers wrote them when they believed the system was risk-free. CDSs became speculative vehicles, and the liabilities at this point are way too big to cover. Additionally, many of the deals are complex and nearly opaque as to who owes what to whom. Insurance is always available when there is nothing to fear, but it goes away when big trouble looms.
A subsidiary of Warren Buffett’s Berkshire Hathaway company just announced (9/10) that it will stop offering supplemental deposit insurance to the 1500 banks it was covering. As you can see, it offered the insurance to make money, not to protect banks. Now that banks need protection, there is no more insurance. Still, one can hardly blame an insurance company for getting out of the business. Insurance is supposed to provide a way for prudent people voluntarily to socialize their risks. But when profligacy puts everyone at risk, insurance is impossible.
In a depression, insurance companies stop insuring because they fail. Washington Mutual bank, reportedly in trouble, is 7.5 times as big as the biggest bank that’s ever failed in the U.S. Buffet is just acting ahead of the disaster. The government never acts ahead of disaster, so when the FDIC stops providing insurance, it will be because it has no choice. |
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Anonymous Coward
User ID: 507587
9/21/2008 4:35 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
THE WALL ST BAIL OUT IS ACTUALLY GOING TO MAKE THE BIG CRASH WORSE.
OMG. |
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Anonymous Coward
User ID: 507587
9/21/2008 10:43 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
The End of Capitalism as We Know it.
[link to leavittbrothers.com]
So free market capitalism is dead. It’s been dying slowly for many years, but it seems to
be accelerating. I’ll admit the capitalism we had wasn’t pure, but it was better than a
gov’t controlled marketplace.
The gov’t bought Fannie Mae and Freddie Mac, so they now own half the mortgages in
the country.
They bought an 80% stake in AIG, so they own a huge portion of the world’s largest
insurance company.
Via social security, they already own your retirement.
And of course they already own the educational system (K – 12th grade).
This isn’t meant to be a political statement, but if Obama becomes president, he’ll
nationalize the health care industry.
And there are other objectives which aren’t so obvious. The government gave JP
Morgan $29 billion to help buy Bear Sterns; they essentially forced Bank of America to
buy Merrill Lynch; and they turned their heads when Lehman Brothers was on life
support thus “allowing” them to go under. And just like that, three of the five major
investment banks are no longer.
Why are these steps important? Because if the gov’t wants to have control, having less
players to oversee is easier than having more. The gov’t doesn’t want many major
banks, hundreds of smaller banks, several investment banks etc. They want
consolidation. They want a small handful of massive institutions because a smaller
number is easier to control.
I’m not sure I like the direction we’re headed.
We have a problem the gov’t helped create and now they’re riding into town on their
white horse committed to using every weapon in their arsenal to restore order and play
the role of good guy.
They’ll manipulate the market, dilute the dollar, build on our
national debt, and tinker in the marketplace in a way that’s never been done before.
Taxes will be raised, interest rates will be higher, money market funds will fetch less
interest, and we get to go to sleep every night knowing the great experiment started 232
years ago is being driven into the ground.
It would not surprise me to wake up one day
to learn the dollar bills in my pocket are worthless pieces of paper that need to be
exchanged for a some new currency – possibly a North American Union currency.
I don’t like the direction we’re headed.
Jason Leavitt
Leavitt Brothers, LLC |
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Anonymous Coward
User ID: 322321
9/21/2008 6:15 PM | | 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]
Its getting real !!
 |
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Anonymous Coward
User ID: 507788
9/21/2008 6:31 PM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Quoting: ACCURATE + CREDIBLE. 397228
 When you have Morons running your country,,,,well,,,, |
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Anonymous Coward
User ID: 508193
9/23/2008 12:52 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
One Australian economist who has long been pessimistic about the growing debt binge around the world is Associate Professor of Economics & Finance at the University of Western Sydney, Dr Steve Keen.
'The scale of the problem is so much greater than the authorities have realised and of course that's partly because they didn't even know it was happening until it was far too late.'
[link to www.abc.net.au] |
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Anonymous Coward
User ID: 508193
9/23/2008 7:17 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
hey this is good site dudes
An economist who predicted the current crisis says the government intervention will fail unless it assists the homeowners who are struggling with debt, and stops the wave of foreclosures crippling the US economy. Professor Nouriel Roubini also says the bailout won't prevent a major recession.
[link to www.abc.net.au] |
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Anonymous Coward
User ID: 509560
9/24/2008 1:27 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
Analyst says intervention big mistake.
Peter Schiff, an advocate of the purist free market principles of what's called the 'Austrian School of Economics', says the idea of a government rescue package is a folly.
The president of Euro Pacific Capital in Connecticut tells our economics correspondent Stephen Long that intervention will only delay the inevitable.
[link to www.abc.net.au] |
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Anonymous Coward
User ID: 509708
9/25/2008 12:35 AM | | Re: >>THE NEXT GREAT DEPRESSION<< | Quote |
"I have unwittingly ruined my country. A great industrial nation is
controlled by its system of credit. Our system of credit is
concentrated in the hands of a few men. We have come to be one of the
worst ruled, one of the most completely controlled and dominated
governments in the world . . . no longer a government of free opinion,
no longer a government by conviction and vote of the majority, but a
government by opinion and duress of small groups of dominant men."
~ Woodrow Wilson
(The President that signed the creation of the Federal Reserve into
law in 1913.) |
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