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The coming financial crisis may make 1929 look like a 'walk in the park'

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posted on Dec, 26 2007 @ 06:34 AM
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Mark my words, the next 'depression' will be used as an excuse to bring the Amero in as the next dominant currency.

Mark my words.




posted on Dec, 26 2007 @ 06:50 AM
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too be honest your all being lied too .. goverments have taken massive losses and anyone who says that financial markets are stable are just trying to stabilise the current market scenario.. Things are bleak.. when the sub prime markets stop and the full figure of losses are revealed it will be a holy crap incident.. no Holy # this is bad it'll cut the guts out of the market..but ffs dont fortell this as youll be the bunny losing your dough.. To many Billions are getting pumped into nothings .. it cant be sustained unless othermarkets take some of the fall with the us.. which has already started to happen..



posted on Dec, 26 2007 @ 07:01 AM
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posted on Dec, 26 2007 @ 07:22 AM
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reply to post by PrplHrt
 



umm....then, maybe it's more that people shouldn't be getting divorces they can't afford.

I've seen this with my own eyes, time and time again, a couple is having a difficult time making ends meet. Maybe they have a sick child who needs expensive medicine, maybe those children are preventing one of them from brining home a wage. But, well, they just aren't making it, and they can't figure out why. They are more apt to blame each other for "overspending" thant they are to actually sit down with paper and pen and figure out just what their budget looks like. But, even it they do, they will soon figure out that there just isn't the money there to begin with, irregardless of that little overspending here and there. So, they either are facing the reality that there isn't enough money, or they are squabbling over the few morsels that they think is left over...doesn't really matter which. So, they go to social services, hoping for some help, because well, their child might die if she doesn't get that medicine, who flatly tells them that hey, we're sorry, but you are making $.50 an hour too much. You should have well more than enough to make ends meet.... Well, eventually, they either squabble themselves into a separation, possibly a divorce, or they face the realitiy that the only way they are gonna get the kids medicine is to separate...
So, now, the family who didn't have the resources to meet the needs of one household...now has two!!! But, hey, they are now eligible for help!! all but the wage earner now has access to more financial assistance then they've ever needed! But, well, since society, in their massive insanity, couldn't see it in their hearts to give this couple a losy extra $50 a month to help with a child's medicine, now is paying for occupational counseling for the mom, healthcare for the mom and all the kids, rental assistance for them, food, clothing allowance, transportation costs, ect... The wage earner of the family could be throwing his whole paycheck into this, and it still wouldn't cover all of it! But, as it is, he's paying a portion of his check, which well, isn't susposed to kill him financially. Of course, it would be nice, not to mention much more effective, if he just drove across town to see her, and give her the support himself, while having a nice visit with his children, but well, too many men shunned this responsibility in the past. So no, it has to go through this long chain of human beings charged with seeing to it that this money gets to where it's susposed to go. Only, human beings make mistakes, payments get lost (or who knows maybe diverted to black ops or something) but it doesn't make it to where it's going, and the guys account now stands delinquent!! up goes the payments since his account his delinquent. This is somewhat a true story, by the way, the money was lost, only the guy just didn't have the paperwork to figure out that it was lost. Although, the wife did have the paperwork. So, after sucking and losing over $3,000 they actually figured it out, and got it straightened out. But until then, not only were they taking all of the guys paycheck but also most of his per diem (the money he was susposed to using while he was on the road, ya know, for toll roads and such) and well, they were leaving him with a whole $20 out of his check.. When they threatened to take the guy's driver's liscense, well, both mom and dad decided that they really couldn't afford a divorce, they say a lawyer, and well, some poor payroll processing company ended up paying them back their $3,000.
What all this tells me:
First, our welfare system, at least how it was a decade or so ago, encouraged (forced??) couples to separate...
Second....it's insane that couples who couldn't support one household could support two!!
and third...the child support system, at least how it was a decade or so ago, is like a giant funnel funneling money to god knows where for god knows what purpose....they will lose the money sometimes, and well, when they find what has happened to it, they won't be giving it back, someone else will have to.

--------------------------------------

By the way, the inflation of the housing market has been what has kept the local governments going since bush decided to shift so much of the burden onto them for the social services expenses of their county. it was easier to get you to accept the higher taxes if they were linked to what you thought was an increasing value of your house....made you feel better than just saying, hey, we're increasing property taxes by 50% so we can pay for the medicaid to our poor!!

Is it coincidence that the values started skyrocketing just at the right time to save the local governments? or was it more a planned thing, so washinton could keep more of the tax dollars in washington, to use however they are wasting them?

It served their purpose after 9/11 to have the masses buying into this "the economy is great!" bit. even greenspan endorsed these the arms and such...the taking out of second mortgages, ect. oh, ya, don't hear much about all those who actually bought the idea that their home was worth that much and went out to get a second mortgage and blew the money....do we?? Wonder how many of them will be sticking around to pay the mortgages though after the value of that home shrinks to a more realistic level.

I kind of think that what we are seeing is the result of policies that were put into place, just to keep the ailling economy running a little longer, hopefully long enough to get those other guys into the whitehouse and congress...so th ey can take the heat for it.

They wanted americans overspending!!!

[edit on 26-12-2007 by dawnstar]



posted on Dec, 26 2007 @ 07:36 AM
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reply to post by St Udio
 



i had to reference this earlier post because

Viola' ... on 26 Dec 07, there appears an article/essay which
does a much better job of saying what i tried to say, about the
U.S. Fed and how the other central banks better beware of getting played.

see 'Breaking phase ahead for global financial system in 2008"
www.europe2020.org...



the coming crisis, will either be that the other central banks get
rope-a-doped (to borrow from a Mohammed Ali boxing tactic) and
'eat' a trillion or more of USA packaged mortgage/credit/bond debt.

Or

the other central banks wrest the reigns of control of the
global financial system from the hands of the U.S. Fed,
who has had global control since around 1945,
and has recently instigated the financial mess
the global community is now faced with.

it is beyond me to pinpoint the group of central banks or the
bloc of nations who will ascend to the financial power of
replacing the USA Fed as the leader.



posted on Dec, 26 2007 @ 09:29 AM
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I don't bother reading tomes. Anyone else have the same problem? A little Maalox should help with that.

I stand by my earlier posts. Stop making excuses.



posted on Dec, 26 2007 @ 09:47 AM
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Reply to Infinite, APC, Manticore & Riotcoming:

I guess I should of explained my reasoning for the NWO derailment. While I believe they are trying to destroy the Dollar and the Middle Class, they are trying to do it quietly and slowly. That's why the Central Banks are in panic mode to prevent a severe and sudden depression, the likes of which in my opinion will spiral out of control of the NWO into riots and revolutions and few the scum may actually lose their heads, literally!



posted on Dec, 27 2007 @ 01:01 AM
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reply to post by dawnstar
 


I think America's extremely high divorce rate is directly related to the economic conspiracy being perpetrated on the people. Everyone has to blame someone, and those at fault remain well hidden very far away from the harsh realities of poverty.

Both welfare and child support systems have nothing to do with their supposed purpose. Their only purpose is to keep themselves employed.



posted on Dec, 27 2007 @ 02:35 AM
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I have one problem with the idea that our current financial predicament arises from irresponsible spending on the part of the average consumer. While there are many problems I have with this argument the main points seem quite obvious.

It is getting increasingly harder to live within your means and manage to acquire all those things that are necessary in modern life. Where I live in New York City we are currently pulling ourselves out of a feverish rush to break up larger homes and apartments into "multi-family" homes. This is, in essence, a nice way of saying that people can no longer afford a full home that once was completely affordable and considered to be in a "working class" neighborhood. Factor into that the rising costs in everything from breakfast cereal to home heating fuel it is becoming increasingly harder to make ends meet.

The other issue I have with the afore mentioned argument is that it places blame solely on the myth of the overspending consumer. We find ourselves in this current situation because of the track work laid down in the past. When people are poorly educated and all but completely brainwashed by the media they are apt to make poor decisions. When the financial powers that be decide to give the consumer carte blanche to spend as much as he or she would like and then proceeds to bombard them with advertising proclaiming their need for the new sprocket it is quite easy to see how one would find themselves in debt.

We elect officials, supposedly, for the direct purpose of taking responsibility for the proper management of the country. When those who are in charge of running the finances refuse to eliminate cancerous financial actions and institutions then the blame should rest on them.

Granted, it is up to the individual to oversee their own spending and make responsible decisions it is also nearly impossible to not incur debt over the course of your life. Take for example student loans, some loans are in excess of $40,000 with an option to defer payment which increases the interest charged on the loan. As many have said, the first few years after college are often ones lived on meager salaries. If one wishes to start a family it is almost a guarantee that family will be started in debt.

It is an irrefutable fact that the very existence of a dollar includes a certain amount of national debt. Whether we are in personal debt or included in the national debt everyone of us is in debt. Debt is nothing more than a means of financial control.

But fret not, everything is going perfectly according to plan and this coming financial crisis is right on schedule to usher in the necessity of the Amero. The NWO, or what ever you would like to call the true leaders, never force anything on us, they create a situation in which we demand it.



posted on Dec, 27 2007 @ 03:03 AM
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it's just easier to blame the masses, and their overspending....it's easier for everyone just to turn to the next person and say, it's your fault, now change your ways, and then go their own way, and continue living than it is to go through the maze of governmental nonsense and try to find realistic changes in policies that might actually help the problem some. And, I'm sorry, but government policies helped create the problem, they are gonna have to be part of the solution.
we are a nation in debt, mainly because we would rather exploit the slave labor of developing countries for cheaper product, which in all honesty, I don't see where the shoes made in these countries with their cheap labor are any cheaper than they were when they were made here, by our living wage earners, but well, we can't see our fellow citizens worthy of a living wage, not if it means we, ourselves have to pay a higher price. the masses are willingly going along with this, but well, it's government policies, at the encouragement of big business that is giving the trend it's fuel.
although it might be easier to blame the masses claiming they are overspending, it's not that productive. you ain't gonna change the masses quick enough to have any positive effect in time to prevent the problem from getting out of control. you've got to find where the system is misfiring, and correct those areas.



posted on Dec, 28 2007 @ 01:50 AM
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Originally posted by Dulcimer
The citizens made this the mess it is. Plain and simple.

Take a look at home prices. Are they worth what they sell for? No? Why?

Do you really think real estate flippers are good?
Does everyone need a 400 thousand dollar home? No.
A 50 thousand dollar car? No.
Two cars?
Two homes?

Credit cards for everything? No.

People need to live within their means. Your home does not need to have marble counter tops and 75 rooms, especially when you are just starting out in the real world.

You do not need to eat out every day. You can cook, you can use that 100 thousand dollar kitchen you will be paying for the next two lifetimes.

You do not need 200 dollar jeans and on and on and on.

It all comes back to living within your means. You may not think this is the problem, but it is.


Thank God someone else gets it. The banks aren't helping the matter, but people spending with out regard is why there is this "crisis".



posted on Dec, 28 2007 @ 01:59 PM
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I don't think it's very productive to be arguing about who is to blame for the coming crisis. I've looked into the matter and I have my own opinions of which I don't feel the need to convice to others (at the moment.)

But when I hear that the coming depression will be worse than 1929, I wonder just exactly what does that mean?

Does that mean more homeless? Does it mean more overall families effected? I didn't live through the great depression so I am having a hard time wrapping my head around it.

Personally, I want a garden but I live in an apartment and real estate prices are very high where I live. Rent is also very high where I live. My husband and I try our best to live below our means. I've gotten better lately at saving money and being creative with solutions, but there are limits to what I can produce out of thin air since I have limited space.


[edit on 28-12-2007 by AmethystSD]



posted on Dec, 28 2007 @ 07:52 PM
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Originally posted by roguetechie
Those of you that keep saying oh this is our faults... to an extent yes it is we walked into an EXPERTLY LAID TRAP!!


Just so, in fact that whole post is greatness.


reply to post by PrplHrt
 


Of course living beyond your means is a stupid thing to do for anyone at anytime. But that's a individual problem that is just a contributor to the macro problems our economy faces. The main problems are an untenable amount of debt, and the Fed printing money hand over fist causing the dollar to plummet.



posted on Dec, 28 2007 @ 09:07 PM
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reply to post by PrplHrt
 

Sorry but you are not looking at the big picture and quite honestly I believe you are being insulting in your generalizations.

My husband and I do not have ANY credit cards, we make above average income, we have a small mortgage, 2 small car payments( not on Beamers just good OLD minivan and truck), we shop at the Goodwill for clothes and clip coupons like you would not believe, we have a very large garden that produces quite a lot of food, I make my own cleaning supplies and sew anything I can and need to, we only make purchases if they are a clearance item or,as in the case of our laptop I am typing on, camp out on Thanksgiving at Bestbuy to be first in line to get a $250 laptop and the only "luxury" item we indulge in on a monthly basis is our $75 cable bill.
We pinch pennies anywhere and everywhere and we are still BROKE, BROKE, BROKE and why???
Not because we live outside of our means but because of inflation, slow and steady inflation. A loaf of bread that cost a $1 12 months ago costs $1.25 now, a gallon of milk $3.25 12 months ago over $4.50 now, bananas .48 a pound 12 months ago .75 a pound now, electricity went up 25% this year and well you know all about the gas prices. So we have this nickel and dimeing and 25% increases on staples but we have not received a 25% cost of living raise, in fact this year, the first in 10 years, my husband was told there would be no raise.
My husband and I both have B.A's from respected University's, we are smart people that have a happy marriage and 3 wonderful kids, we will not ever follow the "keeping up with the Joneses" mentality which is why we live like we do. We feel our family is more important then any object or possession that we could buy sure we could probably make more money but it would take away from the very limited amount of time we already get to spend as a family raising our children.
You have the right to blame this whole economic debacle on anyone you would like but you really have to look at the big picture. While consumerism and living beyond our means plays a part it is by no means the big picture.
Telling others to pull themselves up by their boot strings is fruitless unless you have actually walked in their boots.


[edit on 28-12-2007 by SEEWHATUDO]



posted on Dec, 28 2007 @ 09:12 PM
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reply to post by SEEWHATUDO
 

You're living beyond your means. You have three children. Expensive, aren't they?



posted on Dec, 28 2007 @ 09:25 PM
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Originally posted by PrplHrt
reply to post by SEEWHATUDO
 

You're living beyond your means. You have three children. Expensive, aren't they?


I just couldn't let this one pass...

How rude and insulting of you.


Let me remind people that a person's economic status can unforeseeably change at any given time.

I'm not saying that there aren't clear examples of when people foolishly have too many children...but give me a break...

:shk:


[edit on 28-12-2007 by loam]



posted on Dec, 28 2007 @ 09:32 PM
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reply to post by PrplHrt
 


I really wanted to put you in your place. Your snarkiness is really insulting to SEEWHATUDO who courageously shared her personal experience.

However, your hatefulness stands on its own merits and does not require much of a response. I feel sorry for you.



posted on Dec, 28 2007 @ 10:03 PM
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reply to post by SEEWHATUDO

Thanks for your input about prices going up up up and watching your spending as well as cutting back or conserving to safe money to exist.

My approach is a little different my plan is to make more money and to watch my spending at the same time. I have set my plan into action and I am starting to make more money. I will take a portion of my devalueing American dollars, and please do not laugh or follow me I am going to put my money into Mexican pesos, this is not a joke. Rik Riley



[edit on 28-12-2007 by rikriley]



posted on Dec, 28 2007 @ 10:21 PM
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Originally posted by Dulcimer
The citizens made this the mess it is. Plain and simple.
[...snip...]
It all comes back to living within your means. You may not think this is the problem, but it is.


It has been quite some time since I saw anyone speak with quite so much common sense and I agree completely.

My wife and I both work and have a very modest (



posted on Dec, 28 2007 @ 11:25 PM
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reply to post by Noscitare
 



100k is not a modest income. And if one of you loses your job, what then? Say bye-bye to hunky-dory land.


[edit on 12/28/0707 by jackinthebox]



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