Wall Street fears for next Great Depression

Wall Street fears for next Great Depression

www.independent.co.uk

Wall Street is bracing itself for another week of roller-coaster trading after more than $300bn (£150bn) was wiped off the US equity markets on Friday following the emergency funding package put together by the Federal Reserve and JPMorgan Chase to rescue Bear Stearns.

One UK economist warned that the world is now close to a 1930s-like Great Depression.

(visit the link for the full news article)

I think people have been saying this on ATS for 5 years .. a big crash is comming and here it is folks .. officially thier saying they dont know what is gonna happen , they are running around like chickens with thier heads cut off.

The only other example when all this happened was in the 30's in the great deppresion .. i wonder what that would mean in real terms in odays modern society.. mass loss of houses ..? no wages? how does it work?

www.independent.co.uk
(visit the link for the full news article)

Originally posted by Quantum_Squirrel
I think people have been saying this on ATS for 5 years .. a big crash is comming and here it is folks .. officially thier saying they dont know what is gonna happen , they are running around like chickens with thier heads cut off.

Lesser-educated conspiracy theorists have been causing a commotion regarding "financial collapse" for over twenty years, even during clearly superior business cycles.

It's my opinion, expressed in this thread: The End of The United States: The Bush Administration Plan, that the current administration has accelerated a long-standing plan. The result will not be a "crash", as such things are survivable. No, the event on the horizon is much more catastrophic, as I believe it has been designed to end this nation.

Originally posted by Quantum_Squirrel

Wall Street fears for next Great Depression

Well, they should know, they created it!

I tend to agree with mos, what we're seeing is the intentional destruction of the USA, and the ringing in of the new order of the ages. Thank God it won't last long.

reply to post by Quantum_Squirrel


The Fed on Monday could lower interest rates as much as a single point lowering the prime lending rate to close to 2%. We can say what we want but the crashing housing market because of loose mortgages and continual escalating oil prices are the 2 biggest culprits in my opinion why we are seeing the Fed jump in to save the day. Now I do mean a day because this is a band aid folks and if a quick resolution is not forth coming a domino affect of the collapse of many lending institutions I feel could pursue. Rik Riley

ok .. when this group of elitist have destroyed the U.S.A what then ? why destroy your base of operations? if thier capitalists then they want western society surely , rather than communism or even a heavily religous government being the dominant force on the planet?.

They will strip everyone of everything..that catostrophic? so people basically beg for help and except any situation of rule?

Yes, it looks like what everyone has been saying is going to happen for the last 5 years is finally upon us: the collapse of the US and therefore the global economy. Or at least a savage and long recession. The funny thing is, most people on here are still talking about Jesus and 2012.

Man, Bush et al have so much to answer for. That guy and Cheney should be lynched.

Ok . . . what, at this point, would save us? What can the people in charge due to not throw us in the grinder?

reply to post by xxpigxx


I don't think this is a problem for the people in charge. Instead, I think the little guy should "wise up" and be more paranoid with their finances.

reply to post by xxpigxx


8 years of incompetency and/or psychotic policies have led us to this point. They couldn't stop this if they wanted to.

reply to post by Quantum_Squirrel


As I write this the US dollar is plummeting, on a Sunday night! I've started to move as much money as I can to the Euro for now, though if there is a global depression, the Euro wouldn't stay strong for long either... I am even keeping some on hand in my apartment just in case everything goes to pot, and my dollars mean nothing...Would I be able to survive by offering Euros to people in the US instead?

I'm very worried now. Thank God I don't have a mortgage or a car note and I don't have anything invested in stocks!

~Sighs~
To think that we once were living a good life (Unless someone tells me otherwise since I was still small during the clinton rule).
I guess its kind of unavoidable the way the bush rule took things. Either we can embrace for a rather hard crash that is due, or try and swurve out of it which would take an "act of God" (For lack of better words)

reply to post by Leviatano


Wait until tomorrow morning when the market in the US opens. Bear Stearns sold for $2 dollars a share?!?!? People are going to riot!

I wonder when the financial industry suicides are going to start.

reply to post by windwaker


Probably have already started. Peeps just o.d. on pills these days instead of jumping out of windows.

The Nikkiei 225 is down over 500 right now and gold is up 32.

There is real panic right now. Large investors are starting bank runs.

If this keeps up we may see runs on retail banks in morning in US.

reply to post by windwaker


Probably already have started, just waiting until people figure out they can't afford payments on there million dollar houses or cars. There will probably be news reports running rampant with stories like this soon enough.

Every generation has its crash. Need I say more? (yes to prevent a one liner).

It's just a bit surreal to look for new threads and see this one on top and "Bush says the market is correcting itself" on the bottom of the list.

I'm glad I'm not rich! Maybe this is the silver lining

Originally posted by Leviatano
reply to post by windwaker

 

Probably already have started, just waiting until people figure out they can't afford payments on there million dollar houses or cars. There will probably be news reports running rampant with stories like this soon enough.

Problem is that it could already be happening and for a a while now and the corporate main stream news still would "not" report about it so as to try to keep people from panicking.

I was rather shocked when I read this ATS thread and that this story was only reported on BBC Tent Cities have begun Spring up outside Los Angeles

I can tell we are in trouble every time I go to the supermarket and I see prices going up on a weekly/daily basis. And of course the same for Gas. There doesn't seem to be any end in sight. I'm starting to freak out a little myself and I wonder if everyone else has the same uneasy feeling I do.



[edit on 16-3-2008 by CyberTruth]

What makes me sick is that I tried so hard to convince my family members that have money to invest in gold several years ago. They wanted it to remain safe in their little bank accounts where I proved to them on paper that they were not actually making money at the current rates but breaking even and in some cases loosing. Now I look the current price of gold and it is at 1,027+ and silver is at 21, +...

If they had listened! If I were not so stuck in hand to mouth.

This is a very very bad sign and it is a good idea to get ready for something to break on wall street.

What if you wake up tomorrow morning and all you have on you is all you have?