Chance of DEPRESSION overshadows G20 summit!!, page 1

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Topic started on 10-11-2008 @ 08:16 AM by adrenochrome

The "D" word has crept into the debate ahead of the Washington G20 crisis summit.

Not Deflation, but Depression.

The result -- according to the thinking of some officials, advisors and strategists gathered at a meeting of the World Economic Forum in Dubai -- is that governments and central banks should throw caution to the wind and combat the crisis with every means available.

"There is a real possibility of a real, deep, international depression," said one senior monetary official, who spoke on the condition of anonymity, calling the crisis "the worst in 100 years".

www.guardian.co.uk...

they're finally "officially" talking about Depression?!

interestingly enough, this news comes from Dubai, one of the richest cities in the world...

i was looking for updates for my other thread, G20 meeting looks for overhaul of global financial architecture, when i came across this article...

does anyone think we'll have another Depression? ...or will the "new global currency" they're discussing "save us" from their meticulously calculated plan to dominate the world?!

"Ian McLean" posted this over at my other thread:

Originally posted by Ian McLean
reply to post by adrenochrome

Yea special meeting Nov 15th, but they just finished up their annual two-day meeting. Here's a communique:

www.bloomberg.com...

We welcomed that the Heads of G-20 countries will convene for a Leaders´ Summit on Financial Markets and the World Economy to be held on 15 November 2008 in Washington, noting that the global crisis requires global solutions and a common set of principles and that the forthcoming summit is an important step in enhancing international cooperation. We stand ready to urgently take forward work and actions agreed by our leaders to restore and maintain financial stability and support global growth.

A strange side-note:

We should ensure that all sectors of the financial industry, as appropriate, are regulated or subjected to oversight. We agreed that it is important to address the issue of pro-cyclicality in financial market regulations and supervisory systems.

What's 'pro-cyclicality'?

[edit on 10-11-2008 by adrenochrome]

reply posted on 10-11-2008 @ 09:49 AM by adrenochrome

also, i've seen this before here on ATS, but the article says it's from today:

Gordon Brown calls for new world order to beat recession

Mr Brown will call on fellow world leaders to use the current worldwide economic downturn as an opportunity to thoroughly reform international financial institutions and create a new "truly global society" with Britain, the US and Europe providing leadership.

His call comes ahead of an emergency summit of world leaders and finance ministers from 20 major countries, the G20, in Washington next weekend.

Mr Brown will say that the Washington meeting must establish a consensus on a new Bretton Woods-style framework for the international financial system, featuring a reformed International Monetary Fund which will act as a global early-warning system for financial problems.

what's everyone else's thoughts on this??

personally, i don't think it's good news at all!

reply posted on 10-11-2008 @ 10:50 AM by adrenochrome

As the financial crisis chokes the economy and lending to most corners of business remains all but stopped, economists have cut forecasts, with recession now a certainty in leading western economies and the likelihood increasing of deflation and even a global depression.

To put that in context, a depression is defined by some as a severe and long recession characterised by high unemployment, and by others as a 10 percent fall in output -- something that has not occurred globally since the 1930s.

"This financial crisis has now started to undermine the real economy in a very severe way," said a senior executive at a major international bank who plans to attend the Washington summit.

This week, the International Monetary Fund has warned the world's richest economies face their first year of contraction since World War II and leading central banks have resorted to drastic action.

But hopes are low that international policymakers gathered in Washington will fly back to their capitals on Nov. 15 with significant reforms, given competing agendas of those attending.

www.guardian.co.uk...

i guess we'll figure all of this out after the 15th...

reply posted on 10-11-2008 @ 10:59 AM by Vitchilo

Well! It just took a year and half before they admit it! This whole thing ``started`` in august 07. They've just come across the word ``recession`` in the last weeks... now they are already at depression.

What would cause a depression... would be to dump the US dollar as the international currency on november 15... which what they will probably do and they will say that it is a necessary evil to save the world in the long run or something like that.

reply posted on 10-11-2008 @ 11:01 AM by ghostlandseller

nice collection of articles. Yeah this does not surprise me at all. this has clearly been a lot more messy then they ever led it on to be.

They probably tried to downplay it hoping people would underestimate the amount of cr@p that needs to be flushed and then throw a little bail out at it hoping it would be ok, but then it did very little to combat the situation and now things are just spiraling out of control.

And now china just threw another $500 Billion at the mess and well, it looks like the market has already processed that in about 2 hours of trading, as at this moment we are officially down for the day on the US stock Market.

i have reason to believe things will get really messy after all the unemployment #s and retail sales come out after the holiday rush. It will be very negative. right now companies (especially retail) are hoping people will spend money in droves for the holidays like they always do but this is the situations that are the most likely to get cut back in everyday house hold spending and many companies in retail are really relying on the extra sales from this period to stay afloat.

anyways good and relevant post. i will be fallowing it.

[edit on 10-11-2008 by ghostlandseller]

reply posted on 10-11-2008 @ 11:08 AM by ghostlandseller

reply to post by ghostlandseller

Also not like this is a shock to anyone, haha but circuit city has filed for chapter 11 protection.

Just a little slice of things to come. They will be closing a large portion of their stores. This will become more and more prevalent as the crisis continues to trickle to the everyday person.

reply posted on 10-11-2008 @ 12:04 PM by whiterabbit85

I think the idea of an NWO is exactly what the human race needs right now. People talk about freedoms and rights but noone knows what they're talking about. Given freedom humans breed Anarchy, and nothing productive ever takes hold. We need a world government so we cans top fighting amongst ourselves and unite as a planet to work together to not only save our planet, but aspire to move to others. If we don't blow up this planet, we'll certainly outgrow it soon enough. It's time to stop dwelling on the past and obsessing about the present. It's time to finally dare to think about the future.

reply posted on 10-11-2008 @ 03:38 PM by adrenochrome

reply to post by whiterabbit85

well as for that, i think mankind would be just fine without any government, and if everything was free, there'd be no anarchy... how can evil exist when man becomes spiritually in-tune, and desires nothing more than to help out his fellow man? it's ALL about Service-to-Others, and gaining pleasure from helping and giving!

if TPTB stopped suppressing knowledge, and if all that the government's hiding was common knowledge, then there'd be no reason for dissention! it's time the wolves became responsible for THEIR own actions - and the same could go for any other person on this planet, too, for that matter...

i kind of agree with what you're saying, in that we need to unite ourselves, but when you have a small few on top of the government, and yes, above the law, then you have unequality, and a recipe that's worked in holding back mankind for thousands of years! not only are our (mis)leaders holding us back, but they're entirely sending us off in the wrong direction!!

we do NOT need a "New World Order", as humanity can take care of itself just fine without the wolves feeding off the sheep...

have you seen the NWO's "Georgia Guidestones" yet?

...they really don't care about us! as long as they're getting their money from our slave-labor, then all is in order for them...

"the best slave is the slave who thinks he is free" - and if you don't believe that, then they're laughing in your face... don't worry, they're laughing in my face, too..

oh, and welcome to ATS!!

reply posted on 10-11-2008 @ 03:50 PM by adrenochrome

reply to post by ghostlandseller

"SILENCE IS CONSENT!"

...they know it, and they count on it, for steering their corporate ship right into the damn ground...

apparently we all wanted a New World Order, because it's too late now to speak up on what everyone thought was some "wacky" conspiracy theory! ...which is now turning out to be the death of our freedoms. America was never a free country - we were just freer than all the rest...

[edit on 10-11-2008 by adrenochrome]

reply posted on 10-11-2008 @ 04:30 PM by All Seeing Eye

Does anyone here live in the town called "Global"? Does anyone buy gas, or food, or clothing in the town called "Global"? Sure, you might once in awhile visit there, but you always seem to come home. I live in the United States of America, and that is what I concern myself with. The people of Global", can start fending for themselves for a change. We here in the Good old US, need to stop worrying about that town called "Global", and start caring for the folks around the corner.

We need to start caring about our own depression. Once we become stable again, then and only then, can we start to help others. Global is just a illusion, it doesn't really exist. Just a bunch of people who wish it existed. Global is the bankers trying to frighten you into accepting there monetary system, and if you don't know what depression is before that, you sure will afterwards.

You know how we can solve Global depression? Throw the Globalist UN and Globalist banks out of here! What do we really need them for? Can we not talk care of our own?

reply posted on 10-11-2008 @ 04:53 PM by David9176

What is weird to me is that this has really been done with imaginary money. People saying they swapped this and that...basically economy is going to hell because of IOU's.

In the words of Jim Carrey in the movie Dumb and Dumber.

We got no food, we got no jobs, our pets' heads are fallin' off!!

Ah i needed a laugh sorry.

Edit for grammar

[edit on 10-11-2008 by David9176]

reply posted on 10-11-2008 @ 06:03 PM by DimensionalDetective

reply to post by David9176

Absolutely correct. The entire monetary system is the biggest sham EVER propegated on the masses. Wothless I.O.U.s that they don't even have anything of actual value to back up with. And they have sold it to the populace hook, line and sinker for ages, and turned them all into slaves for buying into it. It is a total scam and a fraudulent system. How it ever lasted this long is beyond me, but this house of cards is about to come crashing down, and unfortunately it's taking us all with it...

reply posted on 10-11-2008 @ 06:27 PM by gypsy1035

There is no money.... it is all imaginary. Iou's everywhere.

They are working their plan for a nwo and to do away with the dollar.

It is not good and I feel it will only get worse.

reply posted on 10-11-2008 @ 06:56 PM by DangerDeath

Homo Erecti need protocols, while Homo Sapiens has ethics.

Murder, rape and extortion are the trademark of governments. They are the true anti-anarchists. And yes, they fear anarchy, which is the opposite to what they do. Anarchy is about sharing.
(btw, most torrent sites have been closed - a real early symptom of the "stabilization". I hope they all get richer after this.)

The ongoing "bail out" is a systematic extortion of all reserves people have and that is the goal of the "change" that is happening.

Everything is under control. They know what they are doing.
Depression is not meant for them.

The only means of and reason for depression is - oppression.

reply posted on 10-11-2008 @ 09:11 PM by open_eyeballs

reply to post by adrenochrome

whoa whoa who whoa whoa!

didnt you here?

Cramer took the "D" word off the table...

reply posted on 10-11-2008 @ 10:34 PM by Growling Lion

What really is a depression? During "The Great Depression" we had many failures that include the following:

1. Restriction in the money supply - this is an obvious problem that we are having now. However, the Fed countered by lowering the Fed funds rate to an all-time low of 1.0%. This lowering will allow businesses to borrow money at a fair rate for activities like expansion, and operation expenses.

2. High unemployment - unemployment before the crash during 1923-29 averaged 3.3%. For four years after the crash we increased every year till we reached a whopping 24.9%. Currently, we are at 6.5%. We seem to be good now, but we should note that during the Depression the rate kept increasing for four years and we just got into this mess heavily this year.

3. Crash of the market - In three years time the market lost 89% in roughly three years. The Dow's current peak was at like 14,500. If it loses 89% it would be around 1595 - that would be scary. Currently, we are at 8870, which is a decline of nearly 40%. An interim bottom occured on November 14th 1929 - this date is uncanny. The interim bottom was around 40% just like we are currently. From there it was downhill for the next 4 years.

4. Bank runs - Back then deposits were not insured. Currently, they are insured up to $250,000.

To conclude, we are going to see higher unemployment for sure next year. I doubt we will reach the 25% level though. With money flowing it shouldn't go that high. Deposits are also guaranteed where before they weren't.

It is hard to disregard the similarities of the stock market. If the market keeps declining many companies will go under causing major unemployment. Therefore, it hard to completely deny ignorance on this article.

www.newyorkfed.org...

www.bls.gov...

en.wikipedia.org...

www.bls.gov...

reply posted on 10-11-2008 @ 10:36 PM by gordonwest

reply to post by adrenochrome

Chance of DEPRESSION overshadows G20 summit!!

The ONLY time when the depression is in the G20, is when Kevin07 talks to Mr Bush. (Joke)

reply posted on 10-11-2008 @ 11:23 PM by Simplynoone

Originally posted by DimensionalDetective
reply to post by David9176

Absolutely correct. The entire monetary system is the biggest sham EVER propegated on the masses. Wothless I.O.U.s that they don't even have anything of actual value to back up with. And they have sold it to the populace hook, line and sinker for ages, and turned them all into slaves for buying into it. It is a total scam and a fraudulent system. How it ever lasted this long is beyond me, but this house of cards is about to come crashing down, and unfortunately it's taking us all with it...

LOL what more is there to say ....except HERE HERE

Great Post Adreno ..thanks for the info ..

I dont know what I think about it ...everything is happening so fast my head is spinning ....but I could see it coming (like all of us have who have paid attention) ......
I am kinda surprised at who the big three are though
{with Britain, the US and Europe providing leadership. }
When did they get to be such buddies ? (with the EU)

reply posted on 11-11-2008 @ 04:32 PM by adrenochrome

reply to post by Simplynoone

when did who get to be such buddies with the EU - the U.S.? if that's what you meant, then you should know that the British-Israel Empire has existed for quite some time now...

the phrase "Ordo ab Chao" comes to mind, with this whole "global economic 'crisis'"...

reply posted on 11-11-2008 @ 04:58 PM by anachryon

Originally posted by Growling Lion
2. High unemployment - unemployment before the crash during 1923-29 averaged 3.3%. For four years after the crash we increased every year till we reached a whopping 24.9%. Currently, we are at 6.5%. We seem to be good now, but we should note that during the Depression the rate kept increasing for four years and we just got into this mess heavily this year.

If unemployment were measured today using the same factors used prior to JFK's Presidency, our current unemployment rate would be 11.8%. The Birth/Death Model was also not used in estimating unemployment numbers prior to 2000.

Historical comparisons should be made using the same (or as close to the same as possible) criteria.