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Originally posted by pai mei
People are losing their homes and living in tent cities : because there are too many homes.
All these problems are on paper. Forget the money creators and money itself, form something new. Of course the money creators do not want this. They want to enslave the world with their pieces of paper.
Originally posted by dolphinfan
I don't see the FDIC failing because that would cause exactly the opposite outcome than what is needed to correct this problem and that is the flow of credit.
Originally posted by Rocketgirl
reply to post by Genfinity
Because of the state of things, I believe what you have stated will happen sooner then within six months. I think it will happen within four months.
But I think that may be changing as well. A bill just introduced in the Senate by Chris Dodd (D-Conn) and Mike Crapo (R-Idaho) would allow the FDIC to borrow some 500 billion dollars from the Treasury to replenish the fund it uses to take over "troubled" financial banking institutions. The bill already has as many as four Republican Senators on board.
Originally posted by Genfinity
The head of the FDIC is officially on record saying the FDIC will be out of money in six months.
What happens after that is impossible to forecast.
I work for a bank. I live in Houston. I was here for Ike. We did not hesitate to restrict withdraws leading up to Ike's landfall.
If you plan on having easy access to your money after the FDIC apocalypse, start making withdraw arrangements now. (Some of my customers already are.)
And you better not tell a living soul. Don't tell anyone who doesn't need to know. Your family's safety depends on it.
Or learn the hard way.
It won't matter if the feds bail out the FDIC or not. Once the FDIC crashes, this year, it will be a brave new world.
Peace until war.
Originally posted by Iamonlyhuman
Originally posted by ominous
I don't think this is true, I'm in Thailand and been in China and you don't see the financial crises like you do in the US, large dept stores boarded up, massive forclosures and housing tracks falling into ruin, tent cities..there has been alot of layoffs in Asia because that massive consumer market the US can no longer afford to buy factory made things, so laid off workers go back to their villages or find some other lowpaying job.. this 'global finincial crises' is actually just an american problem that drags other countries down but not out.. in the long run it is the american financial system that is bankrupt, america is maintaining a standard of living based on borrwing money and that system is going bankrupt, and al this idiot Obusha can do is borrow more money and send more troops to afghanistan.
Originally posted by dolphinfan
2. The rest of the world is in worse shape than the US. There is a race to the bottom going on right now where the last thing much of the world wants is a strong US recovery. Gordon Brown is not the only leader calling out for a global new deal. Much of the world would love to tie up to the US right now because we are in better shape than they are and will keep them afloat.
Who's telling you "large dept stores boarded up, massive forclosures and housing tracks falling into ruin, tent cities"? Not like that at all where I live at least. I'm not saying that it couldn't get that way but I'm just wondering what kind of propaganda's being spread in Thailand and China about this whole thing.
[edit on 7/3/2009 by Iamonlyhuman]