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My only prediction.
I know the the US stock market will hit 14,000+ mark by the end of the year the market has no reason to be this high, so it will start to slowly fall by early 2008.
In 2008 we will see a massive worldwide economic scandle the started in the USA and will make the dollar crash, in turn the rest of the worlds financial systems will fail. There will be confusion for a few months but out of the ashes will come a new system that is not based on money. I am not sure what this will be but it will happen. I whole new paradigm will come by 2012 it will be in full effect, a golden age and a new way of life.
As the Wall Street bailout talks continue, a critical Congressman Dennis Kucinich (D-OH) is not confident that House will pass the legislation, as he told The Hill. "If the votes were there, this would be on the floor," he said. "The votes aren't there."
"Is this the United States Congress or the board of directors of Goldman Sachs?" Kucinich asked today. "Why aren't we helping homeowners directly with their debt burden? Why aren't we helping American families faced with bankruptcy. Why aren't we reducing debt for Main Street instead of Wall Street? Isn't it time for fundamental change in our debt-based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks?"
Kucinich attended a meeting of the "Skeptics Caucus," organized by Rep. Brad Sherman (D-CA) and consisting of House Democrats skeptical of the bailout effort. The meeting's speakers included economic professor James Galbraith of the University of Texas and former FDIC chairman William Isaac. Sherman called the legislation a Bush administration "power grab" and a handout to Wall Street. "This is greatest shift of power to the imperial presidency and the greatest shift of wealth to a still wealthy Wall Street that anyone could imagine," Sherman said.
"None of this has been subject to a critical analysis," charged Rep. Kucinich. "We haven't had access to the books to the people who are claiming they are going broke."
"They rushed this Congress into the Iraq resolution and look what happened," he added, comparing the rushed tone behind the bailout effort with the push to invade Iraq, "Catastrophe for this nation as well as for the people of Iraq."
"The $700 billion bailout for Wall Street is driven by fear, not fact," Kucinich said on the House floor Sunday. "This is too much money in too a short a time going to too few people while too many questions remain unanswered. Why aren't we having hearings on the plan we have just received? Why aren't we questioning the underlying premise of the need for a bailout with taxpayers' money? Why have we not considered any alternatives other than to give $700 billion to Wall Street? Why aren't we asking Wall Street to clean up its own mess? Why aren't we passing new laws to stop the speculation, which triggered this? Why aren't we putting up new regulatory structures to protect investors? How do we even value the $700 billion in toxic assets?"
ADDITIONAL CONTRACTING REQUIREMENTS.—In
9 any solicitation or contract where the Secretary has, pur10
suant to subsection (a), waived any provision of the Fed11
eral Acquisition Regulation pertaining to minority con12
tracting, the Secretary shall develop and implement stand13
ards and procedures to ensure, to the maximum extent
14 practicable, the inclusion and utilization of minorities (as
15 such term is defined in section 1204(c) of the Financial
16 Institutions Reform, Recovery, and Enforcement Act of
17 1989 (12 U.S.C. 1811 note)) and women, and minority18
and women-owned businesses (as such terms are defined
19 in section 21A(r)(4) of the Federal Home Loan Bank Act
20 (12 U.S.C. 1441a(r)(4)), in that solicitation or contract,
21 including contracts to asset managers, servicers, property
22 managers, and other service providers or expert consult23
Another group called...FINANCIAL STABILITY OVERSIGHT BOARD
And guess who runs that? The people that brought us to this crisis? Are they crazy?
Originally posted by DeadFlagBlues
reply to post by TH3ON3
There's no way to stave off a great depression at this point. If you want the dollar to nose dive, you'll be in this support of this bill. If they release this 700 billion as they plan to do with bull#ters for "oversight," you are ensuring the collapse of the dollar. The final nail in our collective monetary coffins.