2009 Depression Validated

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posted on Feb, 7 2009 @ 07:16 PM
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Here's the Validation you've all been waiting for. The Citizens of the World have seen this coming for quite awhile now.


Worst has yet to come: IMF chief

RISK:: Governments should be ready for ‘full-fledged’ intervention and to act quickly in selling or winding up insolvent lenders, Dominique Strauss-Kahn said

www.bloomberg.com...

IMF Says Advanced Economies Already in Depression (Update1)

Feb. 7 (Bloomberg) -- Advanced economies are already in a "depression" and the financial crisis may deepen unless the banking system is fixed, International Monetary Fund Managing Director Dominique Strauss-Kahn said.

“The worst cannot be ruled out,” Strauss-Kahn said in Kuala Lumpur, where he was attending a gathering of central bankers from Southeast Asia. “There’s a lot of downside risk.”

Ten days ago, the IMF cut its world-growth estimate for this year to 0.5 percent, the weakest pace since World War II. Stimulus packages alone won’t succeed in dragging the global economy out of recession unless confidence is restored in the banking system, Strauss-Kahn said today.

“All this will work if, and only if, the different countries are likely to do what they have to do in terms of restructuring the banking sector,” he said. “And today it’s not done.”

The U.S. economy has lost 3.57 million jobs since a recession started in December 2007, its biggest employment slump of any economic contraction in the postwar period as companies from Macy’s Inc. to Caterpillar Inc. cut costs. The U.K. economy will shrink this year by the most since 1946, the IMF forecasts.

“There is hope that the fiscal and monetary stimulus measures being implemented around the world can help turn things around,” said David Cohen, Singapore-based director of Asian economic forecasting at Action Economics. “But there is still the risk it can be short-circuited by further financial turmoil.”


[edit on 2/7/2009 by Hx3_1963]




posted on Feb, 7 2009 @ 07:28 PM
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A Brief Glance of Headlines for February 07 2009

Fed's Yellen sees dynamics similar to Depression
www.cnbc.com...

States to Congress: Send money fast
Governors and mayors nationwide are hungry for billions from the economic rescue plan to create jobs and fill budget gaps.
money.cnn.com...

What got cut from the stimulus bill:
• $40 billion for state fiscal stabilization (includes $7.5 billion of state incentive grants) •

The rise and (almost) fall of America's banks
www.cnbc.com...

State regulators close three banks
FirstBank Financial Services of Georgia and Alliance Bank and County Bank of California become latest victims of banking crisis; nine banks have failed in 2009.
money.cnn.com...

Fed Calls Consultants to Treat AIG, Stricken Markets (Update1)
www.bloomberg.com...

Job loss: Worst in 34 years
Employers slashed 598,000 more jobs in January as unemployment rate climbed to 7.6%.
money.cnn.com...

Consumer credit: Third straight monthly drop
The Federal Reserve says borrowing by consumers sank by $6.6 billion in December, nearly twice the expected drop.
money.cnn.com...

U.S. consumers missing more debt payments
www.cnbc.com...

Listening to CNN Saturday 02-07 I've heard Economists/Reports moving back their "Recovery" Predictions anywhere from 2010 to 2012 now...

What got cut from the stimulus bill
www.cnn.com...



[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 7 2009 @ 11:39 PM
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Financial Crisis “Has Destroyed 40 Percent of World Wealth”
www.prisonplanet.com...

IMF says it may need more funds to face global financial crisis
news.xinhuanet.com...

IMF Says 2009 World Growth to be Slowest in 60 Years
www.voanews.com...

U.K. Recession Deepened in Quarter Through January, Niesr Says
www.bloomberg.com...

BOJ Governor: Big Problems Mounting for Economy
www.cnbc.com...

IMF sees grim GDP outlook for Italy, banks solid
www.forbes.com...

IMF says Turkish economy will shrink by 1.5 percent in 2009
www.hurriyet.com.tr...

[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 7 2009 @ 11:41 PM
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If we hold to the behavior and protocol of the past eight years, then this depression is the fault of Obama.

Everything else on Bush's watch was his fault, so this downturn must fall on the shoulders of Obama.

His turn!



posted on Feb, 7 2009 @ 11:44 PM
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Originally posted by Hx3_1963


“There is hope that the fiscal and monetary stimulus measures being implemented around the world can help turn things around,” said David Cohen, Singapore-based director of Asian economic forecasting at Action Economics. “But there is still the risk it can be short-circuited by further financial turmoil.”


I'm starting to wonder how this will play out if everybody is pushing for some sort of stimulus exactly how long will it take. I mean if everybody and their brother is trying to pump money into the global Economy it should not take as long as 10 years. :bnghd:



posted on Feb, 7 2009 @ 11:46 PM
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It's not going to matter. We're toast either way. Stimulus makes it worse though.

No matter what they try to do it won't change the fact that we are a debtor nation.

Our debt will continue to rise along with inflation.

We cannot survive this way and nothing is being done to change that. NOTHING.

Our time at the top is almost over and the rest of the world knows it.



posted on Feb, 8 2009 @ 12:00 AM
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reply to post by David9176
 


I agree...Peter Schiff, Ron Paul & Dr Doom sound correct. We just can't sustain this credit based life style. unless the COMPLETE system is overhauled or we just let it run it's course without interference it's soon to be over.


[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 12:00 AM
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Originally posted by dooper
If we hold to the behavior and protocol of the past eight years, then this depression is the fault of Obama.

Everything else on Bush's watch was his fault, so this downturn must fall on the shoulders of Obama.

His turn!


Really? Seriously? The destruction was in place long before now. A complete economic meltdown and depression doesn't take place within 2 weeks of someone taking office.... does it?



posted on Feb, 8 2009 @ 12:03 AM
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If you need to pump money into the economy quickly, you can either print more, which makes it all nearly useless, or you cut taxes and withholding, which immediately pumps money into the economy, by putting more cash in the hands of the people.

For every dollar returned to the people, it churns and churns throughout the economy, often seven or eight fold.

In such a manner, the economy is radically stimulated, and inflation is held at bay.



posted on Feb, 8 2009 @ 12:07 AM
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reply to post by SLAYER69
 


It won't matter...they'll have to pump in up to $60 Trillion to convince the CDO/CDS holders (Shadow Bankers) that it's safe to come out and play again. The clock is ticking...interest payments on Commercial/Municipal bonds are coming due...businesses/states are broke...banks can't keep enough capitol to cover their future losses and won't lend (insolvent). I'm afraid you can't get credit at any price...even if ya could afford it you would soon be to poor to pay on it once again at this rate.


[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 12:46 AM
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A most obvious statement by my economics professor:

"SPENDING MONEY MAKES YOU POORER!"

Guess who's money they're spending, and who will get poorer. This is the most blatent act of grand theft from taxpayers ever. The banks are stealing taxpayer money, and each congressman and both administrations are partners in the crime.

Let me rephrase what the professor said:

"SPENDING TAXPAYER MONEY MAKES THE TAXPAYER POORER!"



posted on Feb, 8 2009 @ 12:59 AM
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Originally posted by dooper
If you need to pump money into the economy quickly, you can either print more, which makes it all nearly useless, or you cut taxes and withholding, which immediately pumps money into the economy, by putting more cash in the hands of the people.

For every dollar returned to the people, it churns and churns throughout the economy, often seven or eight fold.

In such a manner, the economy is radically stimulated, and inflation is held at bay.


Normally I would agree with this statement.

But the problem is that when that money is returned to the economy via tax cuts, it will just all go to foreign lands with our huge trade deficits.

Either way the money disappears.

Our government spends money like the people who voted for them. Whether it is by accident or is manipulated, is another story.

BTW the thing about blaming Obama for the current mess, Bush was blamed for the Dot Com recession even before he was sworn in so taking shots at Obama is fair.



posted on Feb, 8 2009 @ 01:37 AM
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US Auto Sales Plummet to Near 27-Year Low
www.cnbc.com...

The Real Crisis In The Auto Industry
www.cnbc.com...

GM May Cut Thousands of Salaried Workers: Report
www.cnbc.com...

Chrysler to Idle Four Plants, Seeks to Curb Production
www.cnbc.com...

Toyota Sees Losses Mounting as Sales Slide
www.cnbc.com...

Ford sees more failures among parts suppliers
www.cnbc.com...

Auto Suppliers Request $20.5 Billion Bailout: Report
www.cnbc.com...

BTW: On a Related Subject

If you're getting behind NH, MO, OK, and WA in their stand against the Federal gov't, Arizona is now on board, too!
www.abovetopsecret.com...


[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 01:31 PM
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Originally posted by dooper
If we hold to the behavior and protocol of the past eight years, then this depression is the fault of Obama.

Everything else on Bush's watch was his fault, so this downturn must fall on the shoulders of Obama.

His turn!


I do not support Neocons or the Liberals.

What has been built over the last several years I fully blame
on those that created the mess.

The true disaster waiting in the shadows is the derivatives debacle
that we were warned about almost a year ago by warren buffett.

100's of trillions in derivatives set to collapse

Yes, that is Trillions with a T, not Billions with a B.

I am beginning to believe they are holding it off til a preplanned
time for maximum destruction.

I think the Made-off scandal was just a small leak of the sinking ship.

So while it is debatable as if we are in a depression yet, when this
mess lets loose there will be no doubt in most ppls mind.

As I often say, make some very cheap preparations for hard times
such as heirloom seeds and a basic bugout bag, and if you can
afford it some kind of self defense items.

Good Luck to you all !

[edit on 8-2-2009 by Ex_MislTech]



posted on Feb, 8 2009 @ 02:20 PM
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A Brief Glance of Headlines for February 08 2009

Grim results predicted for UBS, Credit Suisse
www.reuters.com...

This also is another bad sign as these are big overseas financial firms with ties to US firms.

All this is a giant shell game being played with toilet paper (fiat currencys), notice how when you plug one leak, another springs up somewhere else.

The Titanic is sinking...the Engineers are running to and fro plugging evermore leaks, the Band is playing and the Senior Staff are rearranging the Deck Chairs...


Feb. 7 (Bloomberg)

Job losses in the last 13 months totaled 3.6 million, the most since 1945, the government said last week. Job losses have fueled record foreclosures. There were 2.22 million new foreclosures in 2008, an average of 6,090 a day, according to Washington-based Hope Now Alliance.

Retail Sales Probably Slumped in January: U.S. Economy Preview
www.bloomberg.com...

Updates:
White House: Stimulus Battle Not Over
www.cbsnews.com...

Stimulus will lead to 'disaster,' Republican warns
www.cnn.com...

Stimulus Battle May Signal Tough Sell for Bank Rescue (Update1)
www.bloomberg.com...

Bank Rescues Raise Threat of Financial Protectionism, Yam Says
www.bloomberg.com...

Fed’s Yellen Says Bad-Asset Removal Is Needed to Revive Banks
www.bloomberg.com...


The economy is “severely depressed,” and the U.S. faces “horrific” deficits over the long term, Yellen said in response to audience questions.

“We are not in a depression,” she told reporters after the speech, noting that unemployment hasn’t risen to levels associated with the term.

“Where we are now and where most forecasters expect the economy to go would not qualify this episode as a depression,” she said. “But I think we do have the same type of dynamics taking place that do happen in a depression.”

IMHO the only thing Differentiating this "Recession" from a "Depression" is the Unemployment numbers they've cooked up. If 25% of 123 Million in 1930's were Unemployed Vs 7.6%-17% (Depends who you consider Uncounted/Under/Un Employed) of 330 Million today that equates to 30.75 Million back then to 25.8-56.1 Million today...makes ya think?

Geithner Delays Bank-Rescue Speech to Keep Focus on Stimulus
www.bloomberg.com...

Merkel, Sarkozy Seek EU-Wide Plan to Combat Crisis (Update1)
www.bloomberg.com...

EU Pressured by Banks for East Europe Financial Aid (Update2)
www.bloomberg.com...

Fed Assets Shrink to $1.85 Trillion as Currency Swaps Decline
www.bloomberg.com...

Now this is something to really watch! How is the Fed going to put $1.5 Trillion into the Financial Sector with a Balance Sheet like that?


Feb. 5 (Bloomberg)

The Fed said the M2 money supply rose by $19.8 billion in the week ended Jan. 26. That left M2 growing at an annual rate of 9.3 percent for the past 52 weeks, above the target of 5 percent the Fed once set for maximum growth. The Fed no longer has a formal target.

The central bank reports two measures of the money supply each week. M1 includes all currency held by consumers and companies for spending, money held in checking accounts and travelers checks. M2, the more widely followed, adds savings and private holdings in money market mutual funds.

During the latest reporting week, M1 fell by $1.5 billion. Over the past 52 weeks, M1 rose 14.5 percent. The Fed no longer publishes figures for M3.

Fed Steps Back From February Plan to Start TALF Loans (Update1)
www.bloomberg.com...

Japan December current account surplus drops 92.1% on-year
www.marketwatch.com... =rss

BOJ Should Channel Cash to Companies, Government Economist Says
www.bloomberg.com...

China’s Exports May Fall by Most in Decade as Demand Dries Up
www.bloomberg.com...

China Trade Collapse Weakens Taiwan Dollar, Ringgit (Update1)
www.bloomberg.com...

Norway Will Set Up Funds Worth $14.8 Billion to Unlock Lending
www.bloomberg.com...

[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 04:13 PM
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Now here's something I hadn't seen before. Explanation starts around 2:20 point.

www.infowars.com...

Rep. Kanjorski: $550 Billion Disappeared in “Electronic Run On the Banks”

This is pretty disturbing. I just wondering why THIS hasn't been mentioned by other Government Officials? So much for Transparency...

And here's something from Glen Beck showing what's happened since then.

www.youtube.com...



[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 05:20 PM
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This news broke saturday and sunday on bloomberg...I wonder how the markets will take it on monday....maybe R is indeed right...

[edit on 8-2-2009 by tjeffersonsghost]



posted on Feb, 8 2009 @ 05:28 PM
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It appears the "higher Ups" have been sitting on this information for some time and for some reason this Rep. blurted it out in frustation. I do indeed wonder how this will play out in the coming week. I wonder if anyone has passed this to the MSM? I doubt they'd give it any coverage, probley under some Gov/Fed "blackout" mandate.


[edit on 2/8/2009 by Hx3_1963]



posted on Feb, 8 2009 @ 05:46 PM
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Originally posted by Hx3_1963
reply to post by tjeffersonsghost
 


It appears the "higher Ups" have been sitting on this information for some time and for some reason this Rep. blurted it out in frustation. I do indeed wonder how this will play out in the coming week. I wonder if anyone has passed this to the MSM? I doubt they'd give it any coverage, probley under some Gov/Fed "blackout" mandate.


[edit on 2/8/2009 by Hx3_1963]


Bloomberg is pretty mainstream. If it isnt shown on other networks that is 100% by their choice and not because they havent heard this news. Wouldnt be the first time the MSM has intentionally hidden news.....



posted on Feb, 8 2009 @ 05:55 PM
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Here's something from the big economic shindig held in Europe last week.

Davos Delegates in ‘Denial’ as $25 Trillion of Wealth Vanishes
www.bloomberg.com...

[edit on 2/8/2009 by Hx3_1963]



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