Global Economic Crash Late July!

reply to post by Dubyakadubla

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Yes, that was a very official and unbiased source.

Evidence evil joos run the world.

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……

I heard the crash was supposed to be sudden. It's not exactly the end of July but I don't think people are bothered by those scare mongers anymore. It is important to be ready for anything. But I'm very certain that a crash is going to happen in my lifetime. But if you look at the stocks now, how close is close, from the markets going berserk and go down the drain?

If 2008 passes without a crash, what will 2009 look like?

Just like every other "date thread" on ATS, i just dont see this happeneing. Maybe i'll be wrong this time, but i seriously doubt it. I'll check back in August when nothing has happened...maybe even September.

According to different sources, there wil be market crash or worldwide economic crisis in September, wait and see

So now its been delayed from the end of July to September? How convenient. See ya in November when nothing has changed.

I live in Boise. All I can say is I'm not sure how it's all going to play out here in the coming weeks. Having lived here my entire life of 19 years, I can say the people, while diverse of course, seem to have their heads on their shoulders in terms of what's going on, and many have been preparing for some time. I think it will be relatively safe here when the poo hits the fan

You never know though.

Well, I gotta tell ya I'm relieved. Whew everything must be OK with the economy since Congress is having to give the Treasury secretary a blank check to shore up the two largest mortgage lenders on Earth, and the SEC implementing emergency rules that have limited the abillity to "short" certain financials and the two giant mortgage companies. Everything must be fine indeed.

Well here we go again. how many doom sayers are there on ATs. live one day at a time and don't worry about it.

I am awaiting next months GLOBAL ECONOMIC EXPLOSION! thread.

I am somewhat of a doomsayer on things economic. But these things arent red 'X' on a calender.

I think they will wait until after the new year and the elections.

I bet the Global E. are sitting back banking on the holiday season to help further the eleventh hour exit stradegies for the last minute bail outs.

I am banking on it any way. It feels to me like the theory which states that if you jump at the exact moment of impact in a falling elevator, you can be saved.

The hugest bummer is that bush has driven so many of us from a happy middle class existence to a real survival level month to month and year to year. That has blown my preparedness stradegy something fierce.

Appears that everything is starting to look up. Yea. I think people stopped being so spend happy and frivolous. Nothing makes people shape up and spend/save responsibly like hitting them with the realization that they might not have money or a job tomorow.

What doesn't kill us makes us stronger.

Early August and no Super-Crash...

Maybe it's still asleep...

If anything remotely similar occurs it would probably be next year...but those who know are the ones who will make it happen...lol

well it looks like once again the doomsayers with their mystery dates are...da da da da....
WRONG AGAIN

And don't forget something awful was supposed to happen on 08-08-08 and guess what? NOTHING....

Can't wait for 2012 to come and go and nothing happens

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.

you beat me to it - by like 2 weeks!!!

I love when these happen



[edit on 8/26/2008 by Andrew E. Wiggin]

I think the bottom line is, don't set dates or definatives.

Look, at least in this forum, something is coming that needs to be watched, but we don't know when or where, and it's not going to be one big explosive event, it's going to be a cumulative thing.

This post has way to many flags - lol. Everyone wants to catch the "final date". ATS is full of predictions, but if you go back and read the ones with specific dates/events, none of them have panned out. Be aware, be wary, but don't ever think you got the inside scoop on the real deal - not gonna happen.

reply to post by Relentless

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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 to post by behindthescenes

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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.