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IMF Says U.S. Crisis is 'Largest Financial Shock Since The Great Depression'

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posted on Apr, 9 2008 @ 04:04 PM
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IMF Says U.S. Crisis is 'Largest Financial Shock Since The Great Depression'


www.guardian.co.uk

America's mortgage crisis has spiralled into "the largest financial shock since the Great Depression" and there is now a one-in-four chance of a full-blown global recession over the next 12 months, the International Monetary Fund warned today.
(visit the link for the full news article)




posted on Apr, 9 2008 @ 04:04 PM
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I have to say that they are using very 'conservative' estimations in terms of us being in a 'mild' recession---I know people will throw around the 'numbers' and say we aren't in a recession based on them, but our economic status on a 'main-stream-american' level is totally FUBARed. lol

The average working class american trying to support a family is in dire straights.

It's odd how we can have a 'financial shock' on par with The Great DEPRESSION, and yet people are still saying we're not even in a recession.

I just love the below comments about how the Fed bail-outs 'improved sentiment in the financial markets'...I bet it did, for all the billionaires who got rescued from their criminal enterprises. haha


Simon Johnson, the IMF's director of research, said later the key risk to the forecasts was the danger of a vicious circle emerging, as house prices continue to fall, dealing a fresh blow to the banks, and exacerbating the problems in the markets. "Sentiment in financial markets has improved in recent weeks since the Federal Reserve's strong actions with regard to investment banks. But we have seen how strains in markets can quickly become reinforcing, and the possibility of a negative spiral or 'financial decelerator' remains a possibility."


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



posted on Apr, 10 2008 @ 01:24 AM
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NOTICE

Mervyn King, governor of the Bank of England, will also be in Washington this weekend to discuss the ramifications of the credit crunch with central bankers from around the world.



What Is Really Going On


Assassinated Presidents Abraham Lincoln, James Garfield, and John F Kennedy were each trying to regain Constitutional control of US monetary policy.


My website is attempting to explain it all: TS Enigma - ts.enigma.googlepages.com...


Those Who Pull The Strings



"Give me control of a nation's money and I care not who makes the laws." - Mayer Amschel Rothschild

"I care not what puppet is placed on the throne of England to rule the Empire, ... The man that controls Britain's money supply controls the British Empire. And I control the money supply.'' - Baron Nathan Mayer Rothschild


Maybe we need to give Congress & the President a bit of a break. I'll bet their hands are mostly tied.

Maybe it's time for 'we the people' to help them Break Free!

[edit on 4-10-08 by tsEnigma]



posted on Apr, 10 2008 @ 06:25 AM
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reply to post by DimensionalDetective
 

Dismaying, DD.

Foreclosures are on the rise, and auctions of those homes are being
swarmed like never before!

It's legal and all, but to me it's kind of dirty behind the scenes opportunity
for others who wish to take advantage!

Profiting on Foreclosures



posted on Apr, 10 2008 @ 06:33 AM
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reply to post by tsEnigma
 


Please stop re-posting links to your websites over and over




and yet people are still saying we're not even in a recession


It will be declared when we get GDP data, which needs to show two quarters of negative growth. That's why the word "slowdown" is being used by the Fed and Whitehouse, recession will not be used until GDP comes through



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