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Is this finally the economic collapse?

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posted on Aug, 13 2010 @ 08:00 AM

"Is this finally the economic collapse?"

"On July 2nd, we cut both our third quarter 2010 and full year 2011 GDP estimates for the US to 1.7%. At the time, the consensus around US economic growth estimates was about 3%. Now we're starting to see both big brokerage analysts and the Federal Reserve gradually cut their GDP estimates, but not by enough. Even our estimate for 2011 is still too high.
With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what's left if (or when) QE2 doesn't kick start GDP growth? Should we start begging for QE3? Should we cancel the bomb of the National Association of Realtors' existing home sales report, scheduled for public release on August 24th? Or should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?"
"Lest our doom and gloom seem built entirely on technical measurements, what they boil down to is actually quite simple -- an idea about our country which dates back to 1835. Alexis De Tocqueville, author of Democracy in America, which was published that year, seemed to warn of this day when he wrote: "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

Well folks for the past few weeks I have tried really, really, hard to keep a positive out look for our economy. I was thinking or at least hoping that we just might be turning a corner and that things might be improving.
I just cant do it anymore. Things are fundamentally, F’d up. All signs point south and there doesn’t appear to be any thing that can’t prevent it from happening.
Well the scary truth is that we shouldn’t be trying to stop it from collapsing. The fed is holding up an anvil of debit with a leaf blower filled with monopoly money. When the money runs out the anvil will fall. Just don’t be under it when it lands.

I don’t know anything for sure, but I got a bad feeling about this one. I hope I’m wrong.

[edit on 13-8-2010 by murfdog]

posted on Aug, 13 2010 @ 09:11 AM
reply to post by murfdog

This economic pit that some of our past presidents purposely dug, is very much like the Weimer Republic, just deeper.
I hate to say it, but Gleen Beck maybe right on this.
Woodrow Wilson, a Democrap, started the Fed Res and regretted it.. Kennedy, a Democrat, was going to eliminate it with the printing of the Silver Certificates. He was assassinated. Johnson, Bush, Clinton and Obama, have all contributed to the destruction of our country.
And the sheeple bleet; Bhaaa, baaaa, baaah.

posted on Aug, 13 2010 @ 09:28 AM
this might be better called the long-economic-Slide (a generational collapse that should be likened to the Japan economic slide)

whats it all about:

i would suggest a 10 minute read from this link:

all in all... the corporate beast has sabotaged the USA industrial/commercial/R&D portions of the vital economic engine...
like traitors the 'Legally' sold off the strategic backbone of a vibrant economic system for their elite-ist Profits & bonuses.

Greensppan head the list of criminals, followed closely by the current sociopaths, Geithner, Bernanke, Paulson, Rubin & the host of traitors during the Reagan & Clinton regimes who dismanteled the protections created after the great depression & allowed the casino market to replace basic banking systems.

read the link, not my rant to get a better picture of the situation, thanks

posted on Aug, 13 2010 @ 09:46 AM
I do think that the economic collapse is imminent. Unemployment is at staggering levels while job growth has slown to a crawl. I fear the printing presses will be our demise as was in Germany. I think Beck is right on because I have been looking into this myself for about 4 to 5 years now and I come to the same conclusion. The Fed reserve was made to fail and to bankrupt and leave countries dependant on banks. Nobody owns anything anymore, it's all banks. I don't see a good ending in all this...

posted on Aug, 13 2010 @ 03:02 PM
Well lets just hope we have all gotten this entire socialistic BS out of are systems now. It didn’t work for the soviets, it left Cubans still driving cars made in the fifties, and it won’t work here.
It may be hard for this administration to rap there heads around this thought, but guess what... We’re capitalists and we like being capitalists. We like working hard and being rewarded for it, not punished through excessive taxation to support the non productive portion of are population.
Some one has to tell Washington to stop helping us before they kill us.

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