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Author Topic: I see an economic diasater coming...  (Read 1440722 times)

MasterPlaster

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Re: I see an economic diasater coming...
« Reply #300 on: December 20, 2009, 01:23:17 PM »

Chinese people are the same as people every where else. A mixture of good and bad. Sadly a lot of them have been moulded into submissive workers and the notion that you work hard and one day you will handout the butter comes to mind. In China, money is god like everywhere else.

By the way, the era where armies of some nation over took another nation in order to take over their land is over. The wars now are fought by economic means. I do not believe the chinese army in US story though presence of Northern Command and Nato killers there are more plausible.

As the big war approaches, you must be aware of "divide and rule" concept. Train yourself to think Chinese or Arabs or any one else is just like you. Having said that their brain washing is different to your bran washing.
There comes a time that any man truely understand what does "Love your enemy" means. (It took me 40 years).

The end of the current era is not the end of everything but the beginning of new things.

If you are still alive whilst your house is smoldering and your family and your city is destroyed, if entities (human or otherwise) turn up with promise of a wonderful life ( including free energy!) treat it with utmost suspission. Remember "order out of chaos". Who is bringing order? Do not expect miracles. We are trained to believe in a saviour and I am even suspicious of any saviour that may show up. Even if their arrival is preceeded by the Bluebeam show.

 

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #301 on: December 20, 2009, 04:16:37 PM »
The end of the current era is not the end of everything but the beginning of new things.
That brings up a good point.  The Bible and the Book of Enoch both say the world will end, but others, including the Bible, say a few will be saved.

I say both can be true.

By the theory of alternative universes(string theory), this could be true.  Some alternative Earths will have no human life---germs and viruses is all---and some will.  I'm looking to try and be a survivor.  Somehow.

I'll just wait and see what happens.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #302 on: December 23, 2009, 12:33:04 PM »
The president was quoted today on CNN about the high possibility of many more small banks failing in the coming year.  Also on CNN today a study was released about how large banks with congressional ties got bailouts and those that didn't where more likely to be turned down.

All of these are no surprise articles, but more for the sheepls.

the_big_m_in_ok

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Double dip coming...?...as I predicted...?
« Reply #303 on: January 06, 2010, 01:35:04 AM »
This article may be replaced by a newer one in time. 
If so, the reader might GOOGLize the search arguments: "double dip" and "housing starts"

http://news.yahoo.com/s/ap/20100105/ap_on_bi_go_ec_fi/us_economy

I did say in the past that recessions often have 'double' dip' falling indicators in their courses.  The next one may be occurring now.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #304 on: January 07, 2010, 03:35:50 PM »
More about the coming double dip.

http://www.nytimes.com/2010/01/07/business/07fed.html?ref=business

http://www.time.com/time/business/article/0,8599,1952132,00.html?xid=rss-topstories-cnnpartner

While I would like to point out that the American economy is on the up turn, it still has a long way to go, and throwing all of the money at the problem that the government did was not the solution and made the longterm solution all that much more difficult.
« Last Edit: January 07, 2010, 04:02:45 PM by Azorus »

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #305 on: January 07, 2010, 07:40:09 PM »
While I would like to point out that the American economy is on the up turn, it still has a long way to go,
Yes, precisely.  I said some were looking at the bubble created by Obama, and then saying that's the answer---the economy is improving.  "Not seeing the forest for the trees in the way."
Several economic problems will get worse---even much worse---in the future, as set forth elsewhere in this thread.
Quote
...and throwing all of the money at the problem that the government did was not the solution and made the longterm solution all that much more difficult.
Absolutely.  They didn't fix the root problem(s)---unregulated financial dealings---and this will return to haunt the Obama Administration.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #306 on: January 07, 2010, 07:54:30 PM »
One thing I want to mention that I think a lot of people have forgoten about is where is that TARP money?  You might notice in recent weeks that the TARP money that the banks gave back had a profit to it, about 50billion dollars.  So where did it go, you cannot track the TARP money that was a profit, you can only track the original amount of TARP money.  Hats off to our government for making another 50billion dissappear quitely.

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #307 on: January 07, 2010, 09:49:41 PM »
One thing I want to mention that I think a lot of people have forgoten about is where is that A money?  ...you cannot track the A money that was a profit, you can only track the original amount of TARP money.
Good point, Azorus.  Also, too, the money was spent on things that weren't in the original 'plan'.  And, main street business wasn't helped hardly at all.
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  Hats off to our government for making another 50billion dissappear quitely.
Yeah, true.  I saw on a special news report on TV once that the Gov't shipped a $Billion on several pallets(skids) to SW Asia and it all disappeared!, conveniently.  The money just disappeared---somewhere! in Iraq.  They wanted, I believe, possibly, to use the money to rebuild bombed cities.  This is about the same thing that happened to the $50 billion.
One or more congressional hearings were held, but nothing came out of them.

--Lee
« Last Edit: January 08, 2010, 01:25:56 AM by the_big_m_in_ok »

the_big_m_in_ok

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Re: Double dip coming...?...as I predicted...?
« Reply #308 on: January 08, 2010, 09:25:22 PM »
This article may be replaced by a newer one in time. 
If so, the reader might GOOGLize the search arguments: "double dip" and "housing starts"
http://news.yahoo.com/s/ap/20100105/ap_on_bi_go_ec_fi/us_economy
I did say in the past that recessions often have 'double' dip' falling indicators in their courses.  The next one may be occurring now.
--Lee
Here's an additional reason:
Most households with residences 'under water' financially didn't, or haven't, refinanced their properties.  About 5 million more will have their subprime and alt-A mortgages reset to unacceptably high interest rates in 1 1/2 to 2 years at the latest.  This is very serious!
5 million households and the unemployed as well(combined in numbers) will cause huge social/financial/legal stresses on the economy.

This is more than merely *very bad*.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #309 on: January 11, 2010, 03:12:02 PM »
For anyone else that is tracking bank closers, 140 last year with a start of 10 this year already.  by the way 140 are the most banks closed in a single year since 1994.  And if anyone else is conserned with the amount of money in the FDIC they will keep telling you that they still have access to 500billion treasury money, that being said they have already spent 584billion on bank closings last year.

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #310 on: January 12, 2010, 09:11:43 PM »
For anyone else that is tracking bank closers, 140 last year with a start of 10 this year already.  by the way 140 are the most banks closed in a single year since 1994.  And if anyone else is conserned with the amount of money in the FDIC they will keep telling you that they still have access to 500billion treasury money, that being said they have already spent 584billion on bank closings last year.
They also warned they don't have enough.  They'll need to be bailed out if this trend continues.  People may quit trusting the whole banking system.  Bad scenario.

--Lee

the_big_m_in_ok

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Re: Double dip coming...?...as I predicted...?
« Reply #311 on: January 12, 2010, 09:18:48 PM »
5 million households and the unemployed as well(combined in numbers) will cause huge social/financial/legal stresses on the economy.
And, there another fact that was seen by an analyst on TV recently:
Banks aren't reducing the worth of distressed properties because they want to keep the price high for their good bottom line.

Obama may force them to change, and write off some of the cost, but banks will loose money no matter what happens.

There doesn't seem to be a good way out of this.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #312 on: January 13, 2010, 02:36:24 PM »
The problem with that is if banks devalue the property to much it makes their bank fail.  According to the FDIC banks have to keep a certain amount of assets capable of covering at most of there depositors.  This means a bank can have unlimited psychical assets as long as they have enough money to cover 75% of there depositors at any one time.  So if you devalue housing to much it is possible to drop total asset values of large banks below the amount of money depositors have in them.  This is what they fear because that means they are running without money and Technically the FDIC has to come and and close them down.  Though because the FDIC is already in trouble they have been hesitant to close on some banks that are already under.

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #313 on: January 14, 2010, 01:22:20 AM »
Azorus said:
Quote
The problem with that is if banks devalue the property to much it makes their bank fail. ... This is what they fear because that means they are running without money and Technically the FDIC has to come and and close them down.  ... 
Yes, I agree.
There's something also:  Banks are reluctant to lend money to anyone they think won't be able to pay them back in the future(about everyone, really).

The banks get hurt financially "coming and going".  They can see many borrowers as credit risks and also their assets aren't worth enough to sustain them in the long run.

I imagine Europe and Asia are in the same boat.  And, the boat is getting smaller and may spring a leak, as well.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #314 on: January 14, 2010, 12:39:58 PM »
I thing i heard a while ago was that banks, according to federal law, have to lend money.  it makes sense, but they have to lend money to a certain amount of people no matter what according to the law, will have to look it up later.  And if banks don't lend money to these people they have to pay penaties for this, making it hurt worse during this economic meltdown.