USA 2008: The Great Depression

I bet they are.....

That Bloomberg headline went to press the day after traders witnessed a mysterious entity...slink into the futures market.....at 3 am.....and paint a most unusual chart







No ECB rate-cut next week, could mean headwinds for the Dollar. Of course a little night-work by the Presidents Working Group.....can trump even the ugliest fundamentals......temporarily.



[edit on 3-5-2008 by OBE1]

Double-post deleted...sorry.

[edit on 3-5-2008 by OBE1]

I don't know much but what I do know is that no one will want a depression, great or small. I have been told by family about the great one in the 30's, I don't want any!

Now it is prudent to be prepared for anything but there are some that make a post as if they want it to happen or they know for a fact and thats just wrong.

In a free market, capitalism, the MKTS go up and down in waves. I'll admit that the down waves ain't fun but they don't spell doom for the whole nation.



www.bloomberg.com...

May 3 (Bloomberg) -- Warren Buffett, chief executive officer of Berkshire Hathaway Inc., said the global credit crunch has eased for bankers, and the Federal Reserve probably averted more failures by helping to rescue Bear Stearns Cos.

``The worst of the crisis in Wall Street is over,'' Buffett said today on Bloomberg Television. ``In terms of people with individual mortgages, there's a lot of pain left to come.'' Buffett was interviewed before the Omaha, Nebraska-based company's annual meeting, attended by about 31,000 people.

Roper

Buffet was the one who labeled OTC Derivatives "Financial WMD's". US Banks hold 164 Trillion in these WMD's. They are based on real estate, which is collapsing. Buffet is buying up huge amounts of railroad.

What they do, not what they say! Pay attention.

Ah, now I see why Buffet is playing the spin game, he has a dog in this fight! Shoulda took his own advice.


www.bloggingstocks.com...

Not to be dismissed as a fringe character, Dartmouth educated John Williams, a self-admitted conservative republican, has spent the past 20yrs sussing statistical fact...from governmental fiction. His work has been cited recently by the likes of former Nixon political strategist...Kevin Phillips.

It's not my intention to politicize the economic debate...ultimately, a waste of precious time & energy. At issue, is a lack of morality-in-reporting...and the inevitable economic consequences. I only mention Mr. Williams' party affiliation to illustrate the point, that both the curse, and the cure...transcend the dominant ideologies.

A far cry from the official version, unfortunately, Williams paints a dismal near-term landscape. I hope you will read through the full report...and bounce-it off your other source material, including your personal experience/insight.

In light of the recent economic tumult, I've noticed increasing discussions on the quandry of accessing "credible" information, and sources. I'll only say that successful entrepreneurs like Peter Schiff, Dr. Nouriel Roubini, Jim Rogers, John Williams and others...people often marginalized in the popular media outlets...seem to be garnering a whole new MS respect.

Always...to each his own. Intelligent people can, and will...disagree.

shadowstats.com

meanwhile they are food rationing at Sam's and Costco stores and we have a global food crisis that is only going to get worse as gas prices soar. Oil, per barrel, has risen $20 per barrel in 4 months. If that trend continues gas prices will double in 2 years. And so far the factors that determine oil prices are only getting worse..

1-Supply can't keep up with demand and won't for the foreseeable future. Meanwhile countries like India and China (developing countries) are using up more and more oil and gas products as their energy output skyrockets, therefore the demand is ever-increasing while the supply already can't keep up.

2-The geopolitical situation is getting ridiculous and not getting any better (i.e. war in iraq, iran building a nuclear weapon and already threatening to use it, The degradation of the global food situation, etc..etc.. the list goes on...

Oil prices will continue to rise and the situation will only get worse. If the process continues other countries' economies will begin to collapse. Then we, who are dependant on a healthy global economy, will really feel the pressure. Even if, somehow, the global food crisis doesn't eventually affect every american, 10 dollar a gallon gas will destroy this economy.

Nothing has been done, or is being done, to prepare our nation for the worst. There are no safeguards in place or economic/political measures in place that are preventing our economy from completely going under due to the price of oil and no viable alternative to oil that can compete with the big oil companies in the global market. The big oil companies, during all of this, are still making record profits. There has been nothing resembling an alternative energy movement in this country and in the entire 8 years Bush has been in office not one thing has been done to ween the public off of dependance on foreign oil (or oil alone for that matter) Even though we have the technology and resources to put alternative energy sources in place that would revolutionize the energy market in the U.S..

I hate to really paint a picture of doom and gloom, but if you don't know what is going on you aren't paying attention. There is the potential for our country to not make it, and nothing has been done to ensure our economic survivability in the case our economic well-being is threatened by high oil prices and/or the global food shortage.

-ChriS

reply to post by BlasteR

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Our oil prices and gas prices are the reflection of only one thing... the value of the dollar. The higher gas and oil is, the less our money is worth. YOu talk about record profits for oil companies yet you fail to realize that they are makeing only the same profit with 8 billion dollars now as 1 billion dollars 10 years ago. It shows how devalued our dollar is thanks to the fed. If our federal government needs to stop taxing oil companies so harshly and let them drill in America again as well as letting them harvest coal for oil... a resource we have way more of than any other country. The less oil companies are taxed, the more likely they will be willing to search out alternative resources and drive costs down. The government just wants to punish the oil entreprenuers thinking it will make us happy that they are being punished for such high profits, but it's only driving prices up even more.

reply to post by Locoman8

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From
www.nytimes.com...



Meanwhile demand continues to skyrocket and supply can't keep up.

The record profits of oil companies may be diluted by the value of the dollar but it doesn't change the fact that as far as the numbers oil companies ARE making record profits and gas prices will continue to skyrocket.

According to this graph, oil production is dwindling..
www.nytimes.com...

And why should we rely on the current oil companies for alternative energy sources when we are already seeing a lul in global oil production? We have no need for oil companies to build wind farm and solar energy farms, etc.. We have the capabilities to do that now without them even being involved yet it isn't happening.

and oil prices continue to follow the trend of increased prices as the rate of increase currently skyrockets.
upload.wikimedia.org...

-ChriS



[edit on 12-5-2008 by BlasteR]

[edit on 12-5-2008 by BlasteR]

reply to post by BlasteR

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When I was talking about alternative resources... I should have said oil independency, which we are capable of. We are the Saudi Arabia of coal and we have the technology to turn coal to oil and my poposal would allow oil companies to use this technology along with allowing them to drill on US soil again and off the coast. Mexico and Cuba already drill in the Gulf of Mexico... why can't we? I forgot, we are still bound by tree-hugging hippies.

No-kidding. There is enough oil in the U.S. alone to sustain our own citizens until the alternative energy revolution takes over the energy industry and we can say bye bye to oil altogether. The problem is that in place like ANWR here in Alaska, the environmentalists get so crazy we can't even tap our own oil fields. Meanwhile we are importing all this oil (which is then more expensive because of the cost of oil).

I recently saw on the news also that Congressmen/women and Senators are starting to acknowledge there is a huge problem (which may just get something done). We will just have to wait and see. The big problem I see is that these lawmakers were trying to use the oil reserve altogether to help lower fuel prices. This oil reserve was established after the oil embargo of the sixties to help out our country if such a crisis occurs in the future.

Now these lawmakers are wanting to use the entire reserve now just to lower gas prices by maybe 5 cents per gallon which would leave us completely vulnerable. The oil reserve was never intended to be used as a price assist for oil whenever we want. It was established so that we would at least have some oil in the case an embargo were to take place.

This new story just came out about an hour ago:
uk.reuters.com...

Thank god they won't use it. It would be like pissing on a 3,000 acre forest fire it doesn't make sense. Personally, I don't care if they stop putting oil into the reserve because it's already at like 98% capacity. As far as supply and demand goes, anything to help supply could potentially lower prices. When we stop putting oil into the reserve we now have all that extra oil production.

-ChriS

[edit on 13-5-2008 by BlasteR]

reply to post by BlasteR

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I hate environmentalists that keep us from using our God-given resources!

Ah, yea... get ready to hold onto your ass and kiss it goodbye...

www.shadowstats.com...

I also hate people who think this country is just "gumdrops and lolly pops" as far as the economy goes. If we're doing so well, why is gas still nearing the $4 a gallon mark? Our dollar is too weak to keep us earth's superpower. We waist more money protecting our interests overseas than at home and now the middle class of america is having to live near the poverty level because of it! If it was my choice and most of america would be willing, I would call on a new American Revolution because our government is becoming the Great Britain of the 18th century! Who's with me? "Big Brother is coming! Big Brother is coming!"

reply to post by Locoman8

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You mean like Rush Limbaugh? He's convinced this is just the fear-mongering liberals again and it is much ado about nothing. He wants us to "trust him" that the oil prices will go back up ... I just want to shove that cigar up his nose. How about pay attention to the facts? Things like Numbers, figures, economic trends, the opinions of the economic experts, or history for that matter.

He would rather sit on the radio and insult my intelligence with economics 101 while he ignores the actual main determining factors of oil prices altogether... i.e.
1-geopolitics
2-supply and demand.

-ChriS

reply to post by BlasteR

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Where is a president Ron Paul when you need him?

reply to post by DimensionalDetective

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People are loosing their homes because they're too lazy to attain the means of paying for the life style of the rich and famous.

If you want to live outside your means, and you want others to pay for it - you get zero sympathy from me.

Bail them out? Of what? They forclosed. Should Ed Mcmhaon (sp?) be bailed out? He's a millionare white guy (err was a millionare till he squandered)

Thats his fault, why should we pay for it?

reply to post by ybab hsur

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That is so true. Meanwhile someone like me tries to get a $100,000.00 mortgage loan from the bank but my credit isn't good enough just because I was late on car payments a few years back... a car that is now paid in full. Credit sucks. Gold rules!