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Central Bank Body Warns Of Great Depression

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posted on Jun, 12 2008 @ 03:45 PM
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Originally posted by mybigunit
reply to post by mOOmOO
 


Ok what shares are you in? Why so confident? Please enlighten a fellow entrepreneur.


I recommend Vice stocks
Weapons and support services, casinos etc




posted on Jun, 12 2008 @ 03:51 PM
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reply to post by mOOmOO
 


Really? In an economic downturn I would feel casinos and what not would be the first to suffer. I would agree on beer stocks and what not because the recession may cause people to drink
Weapons I think I agree with also because people right now are in panic mode and stocking up. Interesting. Youll love this Im actually considering going long the dollar. Ive been sitting on the sidelines and watching the dollar gain back some ground still waiting for some confirmation.



posted on Jun, 12 2008 @ 03:57 PM
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Originally posted by mybigunit
reply to post by mOOmOO
 


Really? In an economic downturn I would feel casinos and what not would be the first to suffer. I would agree on beer stocks and what not because the recession may cause people to drink
Weapons I think I agree with also because people right now are in panic mode and stocking up. Interesting. Youll love this Im actually considering going long the dollar. Ive been sitting on the sidelines and watching the dollar gain back some ground still waiting for some confirmation.


Try AMEX:ONT

Its a manufactured recession, on TV. And that alone will cause "retail" (people who use retail banking and brokers) investors to panic hence furfill their wishes of a faked depression.



posted on Jun, 12 2008 @ 04:37 PM
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Originally posted by mOOmOO

Originally posted by mybigunit
reply to post by mOOmOO
 


Ok what shares are you in? Why so confident? Please enlighten a fellow entrepreneur.


I recommend Vice stocks
Weapons and support services, casinos etc




Casino stocks have been murdered for a reason, I suggest you look at the technicals and the fundamentals, we're in a bear market.



posted on Jun, 12 2008 @ 05:45 PM
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Originally posted by yellowcard

Originally posted by mybigunit
reply to post by yellowcard
 


You dont fear a depression unless we get tax hikes. Hmm Ok so just keep spending more and more money we DONT have and putting it on the charge card and inflating us to the max. Hmm You right it wont cause us a depression if we dont raise taxes and lower spending it will BANKRUPT us. Do you realize that 22% of your tax dollar goes to pay interest only on all the money we borrowed. We keep printing like this soon it will be half. Then all our money will go to just pay interest. Then after that....bankruptcy.

I recommend anyone who wants the real deal on the FED to read this
www.abovetopsecret.com...'
they are long paragraphs because it is probably one of the more intelligent debates on the issue but if you want the real deal then read up.


You can pay down the debt without raising taxes...it's called spending cuts. A tax hike in the middle of a recession would cause a possible depression because it would cut down on capital expenditures, consumer spending, business investments and other various things...you can't rob an economy of capital when it already doesn't have enough to sustain itself. I suggest you take an economics class, that's what caused the Great Depression... Smoot-Hawley + Tight money supply = Great Depression

[edit on 11-6-2008 by yellowcard]


I think you might be over simplifying things. Just because factors x, y, & z were attributed to have caused a depression one time doesn't mean that you need those exact factors again to cause another - this time it might be factors a, b, & c that do it.

The economy is a very complex beastie with lots of different factors that all have a contributory effect, & at the heart of it all is confidence (or fear) & money supply.

If people aren't confident in any given markets (ie stocks, housing, etc) & also don't have money to spend, then the net result is a major problem. The increase in consumer spending in the US after the tax rebates was very telling IMHO.

People are finding it almost impossible to get mortgage deals on good terms, certainly here in the UK it has tightened tremendously & Interest Rates have shot up even though the Bank of Englands rates have been cut. The swap rates have rocketed indicating that we are just at the outset of this problem.

I actually predicted a depression was on the way about 18 months ago because it was clear that the level of borrowing & spending on both personal & governmental levels just couldn't continue, had gone too far, & the whipsaw was going to be very severe, even back then.

Whether we do have a depression or not we'll see, but we are definitely in for some severe pain over the next few years.

I wouldn't count on the US not entering a depression, borrowing & spending does not make a strong economy, it merely simulates one, the outer cover looks the same but the contents are most definitely rotten.

For what its worth my opinion is a depression in the US, Australasia, the UK, & Europe - basically anywhere where asset prices such as houses have rocketed - it is an indicator of poor fiscal management & strategy on the parts of those countries governments & they will have to go through a correction.



posted on Jun, 12 2008 @ 07:12 PM
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Originally posted by RetinoidReceptor
Can you expand on what you are saying? Are you saying that the large populations coupled with their large demand are leading to this "economic juggernaut"? I would tend to agree with you. Billions of people want to live like middle class westerners and there just aren't enough resources.


Hi RR.

I guess I'm saying that imo, many myopic Americans are out of touch with the near-term economic impact from these vast emerging populations. Perhaps OPEC isn't responding to our production needs...because they no longer have to?

Beijing for example, has been spanning the globe from Africa to Alberta...securing and stockpiling the hard assets necessary to support future GDP. Huge demographic. I understand that Chinese policy-makers have rescinded "One-Child-Only" for the surviving family members of victims in the recent earthquake. Pure speculation...but along with a newly developed middle-class, this trend could spread...and I'm not passing judgement on it either way if it does.

China continues to invest in new infrastructure (ours is falling apart). The Three Gorges Dam for example. China continues to expand their nuclear power program...currently over 200 atomic-powered electrical facilities on the books (we killed the industry...a generation of nuclear engineers soon to die-off...no new blood to take their place)...how will we generate electricity adequate to power millions of electric cars? China is building liquefied coal facilities...purchasing African oil-fields...yes, purchasing oil fields (we go to war in Iraq). Investment in Iranian Oil & NG fields...new pipelines soon to feed China, India & Pakistan.

What I'm sensing is a real shift of wealth out of the the US...as per Catherine Austin-Fitts. A higher standard of living in the developing world...a declining standard of life here at home.

As the 62yr old father of a wonderful 11yr old son...I guess I'm a little concerned for his quality of life.



posted on Jun, 12 2008 @ 07:24 PM
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reply to post by OBE1
 


I totally agree my friend. Im 26 with 3 kids and I worry about what they are going to deal with which is why I am very political now where as I never was and I am thinking about running for congress in 2010. Who knows maybe get a few years under my belt and go for the big show but in reality if I can make a difference by a congressional run as a start I know I can debate any of the chumps that are currently there. I started a thread how do I run for congress but no one ever comments on it



posted on Jun, 12 2008 @ 09:47 PM
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Our future is grim to say the least. Mussolini and Hitler would be proud. Things will get very ugly, just as the Serpents want. This will enable them to bring in more repressive rules across the Western World. In the meantime those living in the ex-communist portions of the world are seeing an increase in their quality of life. Perhaps this is the great equaliser before the New World Order takes over. The currency markets have been reflecting massive volatilities and falling values en-bloc. Undoubtedly they will continue to gyrate until the only solution will appear to be a singular world currency which the masses will accept with open arms not realizing that all this has been manipulated to happen. PROBLEM-REACTION-SOLUTION is the name of the game. David Icke's books will explain how we are manipulated and coerced. His insights are truely mind boggling and he is a must read for Truth Seekers. His website is www.davidicke.com Another worthwhile site is www.marketoracle.co.uk/ Jim Willie's article June 12, 2008 - read CRACK UP BOOM below graph onwards.
Our only hope is to raise our consciousness so that the light will obliterate the Dark Age minds ruling our planet.



posted on Jun, 12 2008 @ 10:22 PM
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reply to post by WyrdeOne
 


Yes, you are right, the price rises are global because oil prices are pegged to the U.S. petrodollar. Everyone is suffering but the worst is those who are starving to death as a result. The Eugenecists are celebrating. Read www.marketoracle.co.uk/ Jim Willie June 12. He states the speculators most responsible for the oil bull market are Morgan Stanley, Goldman Sachs and Deutsche Bank. Another bubble thanks again to the BIG BANKS. I wonder if this is to help them balance their books from the foray into the housing markets. The masses pay again, same old story. There is plenty of oil left in the world, but it is beneficial to the banks and oil companies that we perceive shortages so that they can start to drill in the Arctic and Antarctic regions without much complaint from the people. Of course any oil spills in those areas would be hugely and almost permanently devastating to the environment due to the extreme cold and lack of decay.



posted on Jun, 12 2008 @ 10:27 PM
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Originally posted by yellowcard

Originally posted by mybigunit
reply to post by yellowcard
 


You dont fear a depression unless we get tax hikes. Hmm Ok so just keep spending more and more money we DONT have and putting it on the charge card and inflating us to the max. Hmm You right it wont cause us a depression if we dont raise taxes and lower spending it will BANKRUPT us. Do you realize that 22% of your tax dollar goes to pay interest only on all the money we borrowed. We keep printing like this soon it will be half. Then all our money will go to just pay interest. Then after that....bankruptcy.

I recommend anyone who wants the real deal on the FED to read this
www.abovetopsecret.com...'
they are long paragraphs because it is probably one of the more intelligent debates on the issue but if you want the real deal then read up.


You can pay down the debt without raising taxes...it's called spending cuts. A tax hike in the middle of a recession would cause a possible depression because it would cut down on capital expenditures, consumer spending, business investments and other various things...you can't rob an economy of capital when it already doesn't have enough to sustain itself. I suggest you take an economics class, that's what caused the Great Depression... Smoot-Hawley + Tight money supply = Great Depression

[edit on 11-6-2008 by yellowcard]





WHOOHOOOO You are COrrect!!!!



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