Tonights Town Hall Debate Discussion, page 5

I won't even watch the debate. That's why I logged onto ATS.
Neither one of these candidates is going to do any good. As a result of the farce of a "Bailout Bill" got passed, despite 90% of the American public being against it, I am completely convinced that what we want, say or vote for, don't mean a thing to them. Their agenda is not our agenda.

For those that have 401K or 403B retirement plans, take a look at it tomorrow, not tonight, or you won't sleep. If you have the typical "diversified" portfolio, it will be down between 30% and 40% over the last few months. Much of that loss is permanent. I could go into the explanation, but that would be about 30 pages, and I don't have the heart to.

We are going into what the MSM refuses to call a Depression, but that is what it will be. It is beyond stopping at this point. McCain can't stop it, Obama can't stop it. Paulson can't stop it.

My advice to all of you, is to stop ALL unnecessary spending now, tonight, not tomorrow. Immediately, Unfortunately, about 10% of you will be losing your jobs within the next year. I hope I am wrong, but it doesn't take a financial expert to connect the dots. Companies are losing capital at an alarming rate, When that happens, the first thing companies do is layoff. In addition, several large companies have failed, and more are to come. The "experts" will tell you to stay calm, don't worry. They want you to continue spending to feed this economy. They will tell you that by not spending, you are risking your job. I hate to say this, but they already have been put at risk, and more spending, will NOT help at this point. It is too late.

Compare the prelude to the Great Depression that was kicked off by the events of October 29, 1929. This road has been traveled before, and unfortunately, we are making many of the same mistakes.
The only difference was that the Stock Market Crash of 29 was exacerbated by the low margin requirements in effect for market trades. Today, the crisis started because of the low margin requirements (that is, down payments) of mortgages. It is now expanded to encompass every aspect of our economy, and every aspect of the world economy.

I know this is not a pleasant post, but those of you that know me, understand that I say what I believe, and if you go back to posts that I made in February, you can see that I warned what would happen:
www.abovetopsecret.com...

The private banks (The Federal Reserve) have precipitated this. Not only is it destroying American homes and families and our economy, it will bring down the entire global economy.
(a little further down in the thread, I stated):

I do believe that Ron Paul was right about the Fed. I believe that Greenspan and Bernacke greased the skids for this crisis, and if one were suspicious, I might say that they did this to drive the market down, to a point where they and their cohorts could then step in and buy cheap. In the stock market, it's called manipulating the market, and it's illegal. In banking, it's called ... well, I can't say that here, or it would be censored.

Note I made this statement in the OP on February 12th:
it will bring down the entire global economy.

It has now come to pass.