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Author Topic: I see an economic diasater coming...  (Read 1440631 times)

Azorus

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Re: I see an economic diasater coming...
« Reply #345 on: February 04, 2010, 06:54:22 AM »
There was an article yesterday in the NYT stating that they US has hit a cross roads.  We have two choices either we devalue the dollar to the point where no nation will buy our dept, and we can sell products again to creat an American industry sector again Or we keep creating more Dollars in hopes that inflation will stem off to the point where we can keep our way of life in false hopes.


the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #346 on: February 04, 2010, 09:44:30 PM »
There was an article yesterday in the NYT stating that they US has hit a cross roads.  We have two choices either we devalue the dollar to the point where no nation will buy our dept, and we can sell products again to creat an American industry sector again...
This is a mixed proposition.  No nation will buy our debt, but our domestic products will be so cheap it might restart the economy.  Other countries have done the same thing.  Our debt is so severe, however, our creditor countries would be really! unhappy if we devalued the dollar.
I see no good way out of this.  We're way too far behind and deep in debt.
Quote
...Or we keep creating more Dollars in hopes that inflation will stem off to the point where we can keep our way of life in false hopes.
Inflation, as a cure, can cause a depression, which make the cure as bad as the disease which started the Great Recession.

It's a "d@mned if you do and d@mned if you don't" scenario.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #347 on: February 05, 2010, 07:21:04 AM »
I think that was the point of the whole article, we are screwed either way.  a few more articles are out today for all you fark.com is a great place to see them.  the new articles go on to explain why we are damned pretty much.

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #348 on: February 13, 2010, 02:56:35 AM »
I think that was the point of the whole article, we are screwed either way.  a few more articles are out today for all you fark.com is a great place to see them.  the new articles go on to explain why we are damned pretty much.
I agree.  Here's another:

http://news.yahoo.com/s/ap/20100212/ap_on_bi_st_ma_re/us_wall_street

China is rattling the nerves of financial markets worldwide with uncertainty of the final outcome with respect to the article above.  (The article may or may not be replaced by fresher news at a later date without being archived.)
What is certain is that Portugal, Spain, Ireland and Greece are hurting for more money in a big way.  This is also not helping calming people's anxiety toward the future of money markets.  Even if the American money bubble was re-inflated by Obama, the future is less than rosy for a number or reasons, IMHO.

--Lee

Azorus

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Re: I see an economic diasater coming...
« Reply #349 on: February 25, 2010, 09:53:10 PM »
Best failed list ever!  With more than 450 banks added to the troubled banking list this year promises to be a fun one.  And the new addition to banking problems, the Credit Act!  Yes that is right the Credit Act promises to make more banks fail because they can no longer turn to the easy income of jacking up credit card intrest rates on unsuspecting slobs.  Good Luck to all this fine year of 2010!

http://www.fdic.gov/bank/individual/failed/banklist.html

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #350 on: February 26, 2010, 02:23:22 AM »
Best failed list ever!  With more than 450 banks added to the troubled banking list this year promises to be a fun one.  And the new addition to banking problems, the Credit Act!  Yes that is right the Credit Act promises to make more banks fail because they can no longer turn to the easy income of jacking up credit card intrest rates on unsuspecting slobs.  Good Luck to all this fine year of 2010!

http://www.fdic.gov/bank/individual/failed/banklist.html
I agree wholeheartedly.  There's something else:

Have you see what's happening in Greece?  Social unrest with violent riots in the streets.  If France or Germany doesn't come to their aid financially, "there'll be hell to pay", as it were.  And then there's Portugal, Ireland and Spain waiting in line with additional requests for help.  Glenn Beck, the conservative American TV commentator, says Europe is a 'powderkeg', and I know what he means.

Have a look at this:

http://news.yahoo.com/s/ap/20100225/ap_on_bi_ge/eu_europe_age_of_austerity
NOTE:
This article may be replaced with fresher news, unless it's archived on some particular server database. 
If so, GOOGLize:  "european union pushes cuts indebted countries".

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #351 on: March 08, 2010, 07:59:31 PM »
There was an article yesterday in the NYT stating that they US has hit a cross roads. ... 
According to this,

http://www.foreignpolicy.com/articles/2009/07/23/the_china_bubbles_coming_but_not_the_one_you_think

China also has a decision to make at a sort of crossroads:

Continue to buy Treasuries with dollars, and, at the same time, continue to inflate an ever-growing bubble;
or,
"see the light" and try to cushion The Economic Fall buy getting away from dollars as an investment currency or debt payment from the USA.


"Another nail in the coffin."  There are a growing number already tightening the lid.

--Lee
« Last Edit: March 09, 2010, 05:21:26 AM by the_big_m_in_ok »

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #352 on: March 11, 2010, 01:12:31 AM »
I think that was the point of the whole article, we are screwed either way.  a few more articles are out today for all you fark.com is a great place to see them.  the new articles go on to explain why we are damned pretty much.
Azorus, and others who say that, are right:

http://www.abovetopsecret.com/forum/thread550491/pg1

(There are other sites which expound upon the same thing, but they're more explicit in their language.)  GOOGLize, "confirmed march 24 2010 doomsday"  for other blog entries.

The general consensus in Britain, some say, is that there is no effective 'recovery' and people there as well as elsewhere(read: the States) are really getting fed up with the professional politicians.
So what's new?
If they get scared enough about the future, they may think they have little or nothing to live for.  Mob mentality can be dangerously unpredictable.

We'll all just have to wait until the 24th to be sure.



RECENT REEDIT:
http://news.yahoo.com/s/ap/20100310/ap_on_bi_ge/eu_britain_financial_crisis

Britain is looking more like Greece lately.

--Lee
« Last Edit: March 11, 2010, 02:47:13 AM by the_big_m_in_ok »

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #353 on: March 12, 2010, 01:24:09 AM »
Lee said:
Quote
Britain is looking more like Greece lately.

http://www.politico.com/news/stories/1109/29330.html

China does indeed have a bubble.  But, other analysts maintain that the Chinese economy isn't as dependent on housing sales like the American economy was.  Chinese officials are moving to curb price growth in the real estate market now.  Whether or not that's successful remains to be seen.

--Lee

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #354 on: March 12, 2010, 02:12:19 AM »
the_big_m_in_ok said:
Quote
Britain is looking more like Greece lately.
...And America is going down the same path as Greece.

http://news.yahoo.com/s/ap/us_power_and_debt_analysis

--Lee

sparks

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Re: I see an economic diasater coming...
« Reply #355 on: March 12, 2010, 02:35:45 AM »
   Who do governments borrow money from?  They borrow it from people who do nothing but gamble for a living.  They dont produce anything transport anything provide any type of service.  They call it passive income for a reason.  You get income from being passive.  Passive means to do nothing.  Governments issue things like bonds and then pay off the bonds with interest when they mature.  The bond holders make profit doing nothing.  So people who are doing something have to give people who are doing nothing money.  The answer to the global financial crisis is to welch on all the debt.  From some poor soul working 12hours a day to stay alive to governments paying off notes and bonds.  Fuck all of em.  Wealth in an illusion.  Take the typical realestate closing.  They charge you a down payment all sorts of fees and shit called closing costs just so you can sign a piece of paper that says they can fuck you for the next 30years monthly.  They never did anything but fuck you and you have to pay for the privelege to get fucked.  Prostitution is illegal but financial  and extortion are backedup by the law.

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #356 on: March 12, 2010, 03:01:43 AM »
@sparks
With respect to your Reply #355,

I believe, what you're referring to in mentioning 'passive income', is financial usury.  This is greed, plain and simple.  Usury and the greed which starts is in the first place have their own punishment as a reward.  In a phrase:  Economic depression.  That's over and over again.  People never learn, do they?

--Lee

tanu

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Re: I see an economic diasater coming...
« Reply #357 on: March 12, 2010, 08:39:30 AM »
Its an very informative thanx to share ths!


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Azorus

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Re: I see an economic diasater coming...
« Reply #358 on: March 12, 2010, 03:36:08 PM »
tech,

   Most governments borrow money from financial institutes.  These financial firms get there money from savings, or deposits the banks has at the time.  Each bank is given a set limit of how much of these deposits they must have on hand at all times in order to provide there customers with cash they need, the rest of the money the bank can use to lend out.  Pay attention cause this is what gets banks in trouble.  banks can invest this money anyway they choose, either through government securities or riskier gambles like hedge funds or commercial/ private loans.  Now to finish your question government securities or for the US treasure bills, can be bought and sold by banks to earn money through the "loan" loan of real money to the government.

triffid

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Re: I see an economic diasater coming...
« Reply #359 on: March 12, 2010, 03:41:37 PM »
to big m and everyone concerned,I heard Jim Rawles speak last night on the coming crisis.He has a very good survival blog with thousands of free articles.I spent this morning on learning which types of food and how much to store away for one person per year.Its less than you thought.http://survivalblog.com/  Check it out for yourself.triffid