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Financial Crisis Unprecedented Since 1930s

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posted on Jun, 23 2009 @ 12:13 AM
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Financial Crisis Unprecedented Since 1930s


www.ipsnews.net

UNITED NATIONS, Jun 22 (IPS) - Since the Great Depression of the 1930s, there have been more than 100 crises worldwide, says the secretary-general of the U.N. Conference on Trade and Development.


But many are saying the current global financial crisis is something "the likes of which we have not seen for 70 years or more."

And the scale of the crisis is "unprecedented" because of its impact worldwide, said Supachai, who heads an inter-governmental body that is the primary U.N. organ dealing with trade, investment and development issues.

Asked whether the U.N. summit on the glo
(visit the link for the full news article)




posted on Jun, 23 2009 @ 12:13 AM
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Well we’ve all been hearing the words Great Depression. Now we hear it from the UN. I think most of us agree we are in for Historical times. Things we could never imagine in 2007! It seems they’re doing away with the Bretton Woods. There goes the Capitalist system. He goes on to say that This crisis has a leveling effect; it is of a systemic nature. It does not belong to any single part of the world. Unlike the Asian crisis of 1997, this one is global in nature. I for one have heard these words more than I care to admit. So we are sunk? When the UN speaks I listen. We also knows this information comes from the G20. Maybe that’s why Hillary is backing out of the meeting. What ever the scenario may be I take this as the end and a new beginning. Most of us will not like the outcome. On the other hand what if were being set up to fail? History has shown the method of this administration has failed in the past. Has the government thought about our children’s future? Maybe they’ll be the only one making money in the Obama Civilian Security Force. The G20 definitely has a backup plan but what? We are all left here to wonder if doomsday is around the corner. I think we should stick all our money in a pot and rename it “The peoples bank”. Any suggestions or are we all left in the dust?

www.ipsnews.net
(visit the link for the full news article)



posted on Jun, 23 2009 @ 12:24 AM
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reply to post by wonderworld
 


I think it will all come to a boil this fall. Right now they have us distracted, looking at North Korea for nukes, looking at Iran for a revolution, looking out for the swine flu..... meanwhile, the economy is not improving. I really think that this fall we won't be able to ignore it any longer. It will come to a head and we will be in for some rough times.



posted on Jun, 23 2009 @ 12:35 AM
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reply to post by wonderworld
 


Your OP said :
Financial Crisis Unprecedented Since 1930s

This really isn't news at all ...


Greenspan: Economy in 'once-in-a-century' crisis

In an interview Sunday, the former Federal Reserve chairman said that more financial firms will fail and that housing won't stabilize until 2009.
September 14, 2008: 1:08 PM EDT

WASHINGTON (CNN) -- The U.S. credit squeeze has brought on a "once-in-a-century" financial crisis that is likely to claim more big firms before it eases, former Federal Reserve chief Alan Greenspan said Sunday.

Greenspan told ABC's "This Week" that the situation "is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go."

"Indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes," Greenspan said. He predicted that would not happen until early 2009, and said the odds of U.S. recession have gone up in recent months.

"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring," he said.

Source : CNNMoney.com



posted on Jun, 23 2009 @ 12:40 AM
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I'm truly tired of hearing this Great Dpression talk. Have you noticed the main stream media will not say these words.

I'm angry they can give sound advice. Were left for the wolves, as the rich cover their @$$.

We all know news media's love to put out the negative. Why hide this? They are ALL censored? I searched for knowledge but I'm not happy with what I have found.

Homeland Security is on alert, FEMA is waitingin line. They tell us the worse is over. Doesnt it make you wonder why? It seems like we could demand Freedon of speach on our news stations.

We are big girls and boys. We can handle the truth. Are they afraid they will make us panic and make bank runs? When the truth comes out I guess things will never be the same.

The posperous days of the economy are over but the PLAN isnt ready yet. Somm we will be imune from the Depression and slaowly adjust. I'm sure this is only a fraction of the plan


A Simple Theory of the Financial Crisis


Nouriel Roubini (“Dr. Doom”) and the late Hyman Minsky are often heralded as the economic prophets of the current financial crisis. But there are also connections between recent events and the work of Fischer Black (1938-1995). Best known for his seminal work in option-pricing theory, Black also wrote extensively on monetary economics and business cycles


The Financial Crisis: One Possible Scenario


Fundamentally, the current financial crisis is not about the bursting of a real estate bubble. Although housing and subprime loans were the proverbial canary in the coal mine, the real problem was that investors chose too many risky assets of many different kinds. Nor is the financial crisis about mistakes in the banking sector, although many such mistakes were made. At bottom, the financial crisis has been a story of how poorly suited we are at handling unexpected systemic risks, especially those that stem from the so-called real economy. In essence, the story of the current financial crisis can be told in three broad chapters: (1) the growth of wealth, (2) the decision to opt for risky investments, and (3) the underestimation of a new source of systemic risk.


How Were All These Systematic Errors Possible?


The obvious question is, How were so many unsound decisions in so many countries made? A number of specific answers can be given, ranging among hypotheses about home prices, the weak transparency of mortgage securities, corporate malgovernance, excess subsidies to housing, and excessively loose monetary policy. Although these answers may have merit in explaining particular aspects of the crisis—given that bubbles have burst in just about every asset market and in many countries—they do not seem sufficiently fundamental.



Where Did We End Up?


Subprime loans collapsed primarily because those investments were most dependent on relatively poor borrowers. But subprime loans are not essential to the basic story of the current crisis. Subprime borrowers simply ran out of money first and were least able to cover up their mistakes. The market for contemporary art, which depends almost exclusively on wealthy buyers, was one of the last markets to plummet, but we must not be misled by this difference in timing. The collapse of both markets stemmed from the same underlying forces, namely, unwise investment in risky assets and an excessive degree of trust in the judgments of others.

At the same time, the U.S. economy needs to undergo significant sectoral shifts. Resources need to be moved out of finance, out of construction, out of luxury goods, out of big-box retail, out of domestic auto production, and out of many economic activities sustained by bubble-driven borrowing. Arguably, large adjustments are also needed in the energy and health care sectors. All these changes represent an unprecedented level of required sectoral shifts. But it is difficult for an economy to make those adjustments when uncertainty is so high, when finance is so dysfunctional, and when price signals are so drained of value.


www.hk.morningstar.com...



posted on Jun, 23 2009 @ 12:44 AM
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reply to post by visible_villain
 


I only posted this article because it came out today. The words 1930's hit a nerve.

It will be more severe than the 29's and 30's. I expect hyperinflation. No lie!

We've been slowly being programed sine December 2007 to hear and compare the 30's Depresioon. We all know it hasnt happened before. No charts to compare.



posted on Jun, 23 2009 @ 12:47 AM
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well well no wonder, we are in a world of hurt this last roughly at least 50 more years, and why is that ?? the world economy is Based on the us dollar, and why is that so? does persons who wanted it so said its the most stable money back then. the reasons why it has crashed there is many , Invasion of Iraq and afgahnistan, the crisis in Palestien made by Isreal "little america" now how about Putting some money where its needed instead of MILITARY ALL THE TIME!!!!!!!!

[edit on 23-6-2009 by Watchdog-Finland]



posted on Jun, 23 2009 @ 12:48 AM
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reply to post by Karlhungis
 


I'm with you on that one. They think we are distracted and most of the general poplulation is.

This fall, the llast day of September is the last day of the 3rd fiscal quarter. It also corelates with the next G20 Summit. It's no coincidence.

All Hell will break loose. I believe this is why Obama has Homeland Security on call and ready to go, when the banks and grocery stores close.



posted on Jun, 23 2009 @ 12:53 AM
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Originally posted by Watchdog-Finland
well well no wonder, we are in a world of hurt this last roughly at least 50 more years, and why is that ?? the world economy is Based on the us dollar, and why is that so? does persons who wanted it so said its the most stable money back then. the reasons why it has crashed there is many , Invasion of Iraq and afgahnistan, the crisis in Palestien made by Isreal "little america" now how about Putting some money where its needed instead of MILITARY ALL THE TIME!!!!!!!!

[edit on 23-6-2009 by Watchdog-Finland]


It was based on the US dollar after World War 2. Not any more. The UN, will adress Bretten Woods in July. I think we know what that means.

Here comes a new global currnecy. I think we should still be allowed to vote on the Global Flag. Everytime I put this out of my head it slaps me in the face. I'm wide awake.

Thanks.



posted on Jun, 23 2009 @ 12:55 AM
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Originally posted by wonderworld
reply to post by visible_villain
 


I only posted this article because it came out today. The words 1930's hit a nerve.

It will be more severe than the 29's and 30's. I expect hyperinflation. No lie!

We've been slowly being programed sine December 2007 to hear and compare the 30's Depresioon. We all know it hasnt happened before. No charts to compare.


I think it is quite telling that Greenspan says, "worst crisis in 100 years," since the Great Depression was only about 80 years ago ...

Ergo - Greenspan 'announced' in the MSM this one is going to be worse than the great depression ...

These guys 'know everything' ... they have 'all the data' and very sophisticated computer models of the economy very 'well tweaked' over the last 50 years ...

They know exactly what's coming, and that it's not going to be pretty ...



posted on Jun, 23 2009 @ 12:57 AM
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reply to post by wonderworld
 

awwwwwww i didnt mean to offend u or slap you, it was just addressed to does war mongeling SOBS out there who says its their right to attack other nations, i didnt say u was one


Ive just had enough that ppl whine about other contries and then invade em, not solving their domestic problems, thats one big reason why the world econmy has collapased totaly, the funny thing is ive foreseen this about 2 years ago i was like OMG..... where #t



posted on Jun, 23 2009 @ 01:04 AM
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Originally posted by visible_villain

Originally posted by wonderworld
reply to post by visible_villain
 


I only posted this article because it came out today. The words 1930's hit a nerve.

It will be more severe than the 29's and 30's. I expect hyperinflation. No lie!

We've been slowly being programed sine December 2007 to hear and compare the 30's Depresioon. We all know it hasnt happened before. No charts to compare.


I think it is quite telling that Greenspan says, "worst crisis in 100 years," since the Great Depression was only about 80 years ago ...

Ergo - Greenspan 'announced' in the MSM this one is going to be worse than the great depression ...

These guys 'know everything' ... they have 'all the data' and very sophisticated computer models of the economy very 'well tweaked' over the last 50 years ...

They know exactly what's coming, and that it's not going to be pretty ...


Greenspan acted surprised, as well. Many wanted to act but were afraid to put an end to the weath and prosperity. I can take one look at the stock maket chart over a year year period and tell gravity would soon kick in. what goes up must come down. The chart also shows an unusually high peak prior to Dec. 2007. Seems like a hedge scam, as well as public and private greed.

If stopped when Greenspan was in office it wouldnt have gotten this far. we're talking trillions. Of course we would have had a crash but not as much money would have traded hands.

Wall street was never intended to keep the ecomony afloat but it did; therefore Main street wer also victims, unless they were smart enoght to live within their means.



posted on Jun, 23 2009 @ 01:08 AM
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reply to post by Watchdog-Finland
 


Thanks O.K, I didnt take it personal.

Yes many saw it coming in 2007 and were laughed off of CNBC and Fox business news. I made reference to Dr Doom. He knew, as well.

Greed gets the best of many to often. Keeping up with the jones was the number one mistake. some are still doing it, rather than saving it! Unreal. They dont see the effects yet but by 2010 it will be clear and possibly before then. Fall is appropriate but just the tip of the iceberg.



posted on Jun, 23 2009 @ 01:41 AM
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Here are a few charts













Amother important link. It adds up www.abovetopsecret.com...

www.abovetopsecret.com...



posted on Jun, 23 2009 @ 03:53 AM
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reply to post by wonderworld
 


Those are some depressing charts. This isn't going to end well.



posted on Jun, 23 2009 @ 04:01 AM
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I dont even dare to look at my countys charts, what i know is that the unemplyment rate is now about 24% and we are only 5.5million in finland, i dont dare to even think how #t we are, lucky we have the euro, or i wonder could it be worse if we would not had been forcefully joined to EU and then forcefully had to accept the euro as our currency??? I dont know, but it looks so bad for all not just USA



posted on Jun, 23 2009 @ 04:14 AM
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Originally posted by wonderworld
I think most of us agree we are in for Historical times. Things we could never imagine in 2007!


I did. Heh, I imagined such things back in 2003. In 2005, I took myself out of the markets. By 2007, I was advising my friends and family that they should be pulling out of whatever markets they were invested in and covert to "real" savings.

I just made some decent coin over the last couple months by betting on the sucker's rally, but I've again pulled out and put my money into savings.

Buckle up folks, 'cause this ride ain't done yet. We're facing years of recovery *after* we really manage to stabilize, which we haven't even begun to.

What's worse, no one is talking about doing anything to really fix the problems. Hell, people aren't even *talking* about what the real problems ARE!

A few bad apples?

Umm... how about a system that not only encourages, but thrives on capital abuse, corruption, and good old fashion greed.

We need to not only alter the way the system works, but we need to accept that we are living way beyond our means. We need to stop buying things we can't afford. We need to start paying the real value for things like Gas and food. We need to grow up and end our value system that only measures an individual's worth by their toys and bling.

We need to Adapt.
Or die.
That works too.



posted on Jun, 23 2009 @ 10:24 AM
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reply to post by BitRaiser
 


Well it's not greed that is the issue..


We need to incentivize greed to be the engine of what it is we really want.

However, you can't let the fox guard the hen house and expect to have any chickens left...

So there's a simple regulatory rule....

Never remove the controls from the markets which are the foundation of an economy...



posted on Jun, 23 2009 @ 10:29 AM
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off-topic post removed to prevent thread-drift


 



posted on Jun, 23 2009 @ 01:04 PM
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I wouldn't be surprised if everyone in the White House had a one-way ticket out of the states just sitting in their drawer............


So the loop of history was paused when you were born? N..sorry not a chance..you will witness the loop of civilization and your children will also...




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