Global Economic Crash Late July!, page 12
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ATS Members have flagged this thread 70 times


reply posted on 20-7-2008 @ 08:24 PM by Rockpuck
reply to post by Dubyakadubla


Yes, that was a very official and unbiased source.

Evidence evil joos run the world.


reply posted on 20-7-2008 @ 11:14 PM by resistor
One thing is certain. The Fed is a private bank owned by shareholders.

www.federalreserve.gov...

The religious beliefs or cultural adherences of the shareholders seems unimportant once you realize that private corporations control the monetary systems of all the industrialized western nations. How much money do think that would result in? Enough to buy control of every politician many times over? Now you know why our ‘representatives’ consistently vote against the will of the people. It’s nothing to do with labels, which are only used to distract and derail. It’s everything to do with power, wealth and control. A tyrant by any other name……


reply posted on 9-8-2008 @ 08:25 AM by Relentless
Here's the way I see it. Something is coming and for many it's already here.

How many of your neighbors are in trouble? The degree of severity depends where you live, but in large areas of the US (and many places outside) it's hitting the fan. Lay offs are rampant, unemployment up, foreclosures up, food banks can't keep up with demand, and now credit delinquencies outside of housing (auto loans, credit cards) are rising rapidly. If your bank foreclosed right now on all their delinquencies are they in the black? (While a mortgage is not foreclosed on it stays on the books at the value of the loan document. When they foreclose it has to be booked at current market value.) Then there's the rash of REALLY big banks flat out being sued by State AG's over abuses. There's a lot more that could be added to this list, but I think you get the idea.

Meanwhile the government is spending money they don't have trying to shore up the situation as long as they can, at least for the banks, corporate america, etc., cause they haven't bailed out us. This can't go on forever. It's like a glass about to hit the floor and shatter and somehow it's been freeze framed, but eventually it's going to have to fall. We just don't know when.

If anyone disagrees, please make me feel better and tell me how on earth this is all going to resolve when even Freddie/Fannie aren't solvent, except for the recent bailout bill.


reply posted on 27-8-2008 @ 10:44 PM by Andrew E. Wiggin
reply to post by Relentless


I would not disagree with the notion that "something is coming"

Im just whole heartedly against anyone who "sets a date" or "knows when its coming"

Be it a religious cult talking about the meteor shower bringing the mother ship

or a financial conspiracy theorist who "Knows" when doom is coming.

Expect the best, plan for the worst. I agree

But one should not take themselves so seriously that they can "predict the date" its coming.

Because in the example of this thread - you are left with a complete mockery and debauchery of a financial conspiracy its self

Basically - "miss cleo" predictions give all conspiracy theorists a bad name.
Period.


And i dont like being called bad names


reply posted on 28-8-2008 @ 09:03 AM by behindthescenes
Originally posted by Andrew E. Wiggin
reply to post by Relentless


I would not disagree with the notion that "something is coming"

Im just whole heartedly against anyone who "sets a date" or "knows when its coming"

Be it a religious cult talking about the meteor shower bringing the mother ship

or a financial conspiracy theorist who "Knows" when doom is coming.

Expect the best, plan for the worst. I agree

But one should not take themselves so seriously that they can "predict the date" its coming.

Because in the example of this thread - you are left with a complete mockery and debauchery of a financial conspiracy its self

Basically - "miss cleo" predictions give all conspiracy theorists a bad name.
Period.


And i dont like being called bad names


I'm going to have to counter this "I told you so" b.s. my thread is getting hit with.

Unlike a lot of prediction threads on ATS, this was based on sound economic reasoning -- and not Biblical prophecy or alien brain implant impulses, or Mayan stone tablets or some guy who was having a nice little end-of-the-world chat with some "really high up" official at his deathbed.

Now, do we pigeonhold ourselves by naming a date? Yes, we do. But in this case, the RBS analyst's prediction, this was based on his fear that the inflation data would force the Fed to ratchet up rates, thereby exaserbating the credit crunch into a full-blown depression. And while July has come and gone, and no depression has materialized, this credit crunch continues to get worse.

Maybe it's a testament to America's free market economy that we can weather so much, but there will be a straw that breaks the camels back, that I believe. And like other posters say, it probably won't be one big thing (although an armed incident involving NATO and Russia could trigger a short-term market collapse), but a series of events and the lack of confidence spreading across all sectors.

We are due for -- at the very least and best scenario -- a severe recession, if not outright depression. I know too many people losing jobs -- friends who have been in the newspaper industry for decades now, or believed their bank job was as secure as a tenured teacher -- and see enough homes, even in my own neighborhood, with bank-listed for-sale signs (i.e. foreclosure) for our economy to bump along happily.

Look around you, people! Quit staring up into the sky for big-eyed Grays to come down from their mothership. Quit trying to decipher old stone tablets predicting who-knows-what made by people who are probably getting a good laugh at us in Heaven right now. Stop wasting your mental energies on trying to prove or disprove if our government used holograms of airplanes on 9/11 to coverup a nuclear bomb.

Look around at your neighbors, your friends, and God forbid, your own economic situation, and realize something is coming down. Something that could change the fabric of this country, and that I would argue has already created irrepriable harm.

Wake up! This won't be solved by voting in Obama or McCain. This won't be solved by wishing it away. Good old Econ 101 must take its course. What goes up must come down.

That's what I've been saying. That's what these few, some would say "alarmist" economists have been warning about. The question isn't if, but when and how deep. So, I'm sorry if I subscribe to the idea that the economy would tank in July. I was partially wrong; we managed to break out of it.

But remember the old adage: When your friend loses a job, you're in a recession. When you lose the job, you're in a depression.

An unemployment rate (as of now) spiking above 6.5% is really nothing. There's still a lot of fat on the bones that needs to be cut -- especially given how difficult it is for companies to raise capital or get bank credit to keep growing. This is far from over.


[edit on 8/28/2008 by behindthescenes]


reply posted on 28-8-2008 @ 09:10 AM by kosmicjack
reply to post by behindthescenes


Exactly. It's all just a big shell game or ponzi scheme. The banksters will do whatever it takes to prop it up and keep it going, but eventually the bill will come due. July...August...September, the point is the game is up.
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