10/9/08 - FSME Denninger Special Report - IT'S HERE!, page 18

reply to post by Relentless

---

I think you are exaggerating this incredibly. Anyone who lived through 1973-1974 would tell you the same. They lost 45% of the stock value. This bear market is "worse" than the bear market of 1987 and after because its more drawn out of a beating.

Now, at no point am I saying its going to return to highs. There is no chance of that for MANY years. I am saying it is going to balance out. IMO it won't be another 15-20 years before we see highs like 2007. But we will start to see positive numbers again. Is it a major set back? Sure. Is it the meltdown you are talking about, no. Its normal. Its bad, but its normal.

I dont know if its the fact that people just didn't care when it happened before or what, but this percentage decline happened in 73-74, we had a worse single day percentage decline in 87, and we have seen our fair share of recessions.

The fact is, this crisis hasn't even taken form yet. Aside from the stock market, there is little to actually show, at this time, that a crisis has occured. Jobs are STARTING to be effected by hour cuts, less production, etc. but that happens during EVERY recession. Negative GDP is how you define a recession. If it were live as usual, it wouldn't be a recession.

Maybe last time your sector didnt get hit, so you didn't notice as much of a change.

There is still nothing to indication any imminent meltdown, or even a depression.

reply to post by Relentless

---

On a side note, if what you saying does come to existance monday and tuesday, some weeks worth of food won't make much a difference if you can't continue on after that. The kind of meltdown you are talking about isn't just a "catastrophe" that a month or two from then things will be back in order. Its a full blown destruction of the system. Martial Law would be put in place, thats an easy starting point.

I'm not an alarmist, and I dont believe that what you posted will come to be, but if it does, the american way of life is gone. Not just momentarily either. Our system of government and economic will be gone, indefinately. I won't have any trouble, since Im a survivalist, but many can't say the same.

Stocking up on food won't do much good. Either the government will take military control and continue to supply food, or there won't be anywhere to get food for months.

Relentless' reputation is not lost.

It just went through the roof:

IMF in Global 'Meltdown' Warning

Enough said.

reply to post by botiemaster

---

You know you can't take one line out of context like that The point in posting a quote is to encourage people to read the link. I defend the poster's use of the word in the contect of a credit freeze and it's repercussions. You can choose not to.

I hope I wake up Tuesday morning to the same world as I knew it (actually, that's not quite an accurate statement, because I've seen it in the toilet for a long time now, and I want better than that).

I just don't see how it can be anymore after the past two - three weeks, something has to give big time, and I'm not so sure ( in fact I'm fairly certain) the repercussions of the changes that have to be made over this weekend are not going to be pretty.

Did you read the reports coming in from all over the world the night the thread started? There were meltdowns flying all over the place. Have you looked at the links I've posted today to other threads here on ATS?

Here - try something new:

Lehman Bros Demise

Lehman Brothers, the bust investment bank, triggered one of the biggest corporate debt defaults in history yesterday as it emerged that the US Federal Reserve is harbouring grave concerns about whether Washington’s $700 billion (£413 billion) bailout fund will avert a financial meltdown.

Wait guys - in case you don't read the link, here's some really calming quotes.

Amid the mayhem across the world’s stock markets, senior Fed officials now doubt whether Washington’s bailout fund will work unless it is launched in some form in the next two weeks.

News flash! That is not in their time frame. Wait a minute - The Fed miscalculated again? (extreme sarcasm).

It is understood that the Fed believes that this will be too late to help the banks that are suffocating under market conditions. Credit markets have frozen up and many banks have been cut off from being able to borrow from one another.

Ahem - credit markets have frozen???? This article is dated today. This is EXACTLY what the original post Thursday night was warning of.

Sean Egan, of the Egan-Jones ratings agency, said: “This is a killer. Lehman said a month ago that it was in terrific shape and now you can’t even get ten cents on the dollar for its debt.

“It underscores the deep structural flaws in our financial system, knocks confidence in the financial markets and raises the cost of capital. It also demonstrates that we are experiencing not only a crisis of confidence, but a crisis.”

One thing I'm wondering about is the US has a holiday on Monday not celebrated in the rest of the world (Columbus Day). I'm pretty sure our markets are closed since the banks and post office is. So we get a preview from the rest of the world beofre our markets open on Tuesday? Lucky us.

reply to post by Mainer

---

He who hesitates loses. Ha! That is exactly the mentality that major investors had at the cusp of this collapse. They though, "Screw everybody else! I'm getting MY money!" and now everyone has to suffer. (I understand that this is not the cause of the problem)

And granted, the banks may fail completely, in which case everyone will lose, and it would have been better to withdraw. But we are trying to prevent such an occurance.

reply to post by redhatty

---

The problem is governments, or at least those in the know in governments, were complacent in allowing this to happen. The US government has the best economists in the world following their markets, there is no way they were not aware of the bubble of non-existent money major banks were passing around.

Originally posted by Relentless

One thing I'm wondering about is the US has a holiday on Monday not celebrated in the rest of the world (Columbus Day). I'm pretty sure our markets are closed since the banks and post office is.

The Googles know all. Markets open, banks closed.

Say, if you were going to pick the best day to detonate the market...

Originally posted by The_Modulus
reply to post by redhatty

---

The problem is governments, or at least those in the know in governments, were complacent in allowing this to happen. The US government has the best economists in the world following their markets, there is no way they were not aware of the bubble of non-existent money major banks were passing around.

Of course the BEST Economists were aware, but the ones that are part of the Talking Heads on the MSM are not the "Best".

The Best economics have been screaming from the rooftops for a long time now, but their voices have been suppressed by the MSM and ignored by CONgress.

The average Joe 6 Pack doesn't even know who the real economic experts are, they are following the very un-sage advice of the MSM talking heads.

But that still doesn't answer the question? If the Big Bankers are the ones pulling the strings and We The People cause them to crash, who really loses?

Originally posted by pause4thought
Relentless' reputation is not lost.

It just went through the roof:

IMF in Global 'Meltdown' Warning

Enough said.

I thought part of these guys jobs were to overstate positives and understate negatives?

Originally posted by Mainer
The Googles know all. Markets open, banks closed.

Say, if you were going to pick the best day to detonate the market...

OHMYFREAKINGOSH!

Thanks Mainer - the thought never even occurred to me, at least it's cocktail hour.

reply to post by Mainer

---

You speak the unfortunate truth...

Relentless:

I know you said nothing about bank runs, and I understand your alarmist tone completely, the fact is, it is an alarming situation! And I, like you, am near breaking point with the corrupt 'system' and what it has caused. This should not be happening.

I also just picked up that article pause4thought refers... scary BBC Meltdown Article. This may well come true.

Originally posted by Mainer

Originally posted by pause4thought
Relentless' reputation is not lost.

It just went through the roof:

IMF in Global 'Meltdown' Warning

Enough said.

I thought part of these guys jobs were to overstate positives and understate negatives?

True. But we just reached that point where it's staring everyone in the face to such a degree they either admit it or end up sounding like Chemical Ali.

USDA Forces Whole Foods To Accept Monsanto
  Posted 11 days ago with 99 member flags

Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 12 days ago with 78 member flags

The Collapse of The American Dream Explained in Animation
  Posted 19 days ago with 53 member flags

Proponents of Gold Standard May Be Violent Extremists; Report ALL Suspicious Activity To the FBI
  Posted 4 days ago with 44 member flags

Obama on the verge of a deal with the banks
  Posted 17 days ago with 23 member flags

EU financial dictatorship agreed to by EU ministers last night
  Posted 19 days ago with 17 member flags

Bankers requesting that Greece become their debt slaves
  Posted 15 days ago with 15 member flags

We’re on the brink, warns Greece ahead of summit
  Posted 13 days ago with 15 member flags

Newest topics, updated in real-time:

Newest topics getting flags, in real-time:

Newest topics getting replies, in real-time: