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US economy on verge of 'Great Great Depression'?

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posted on Jun, 3 2011 @ 01:23 AM
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LOl jesus man! well sometimes you gotta be good too yourself lol. I work in retail management. 2 yeasr ago, this DM comes in, and got his friend a managers job. the guy had a mortage4 company that went under. Everyday, all he did was stay in hte dirty basement, move cases around, and wore a $20,000 watch..though it could have been more. creepy looking corporate guy. i wondered if he was crazy or something..a $20,000, in hte basement, 7-8 hours a dy and moved stuff around. he was let go..he wasnt a good manager.
i remember a while back, looking at fossil watches,.i like the name as a kid iwas VERY into dinosaurs. just to kow the time of day $250-$20,000 . When i was a kid, i had this cool Timex watch, had tritium in it!! That was mid to late 80's. i looked at timex watches few months ago, and coundt get over them being over $80 and much higher than that. if watches were that expensive, myabe its best to make your own tiny sundial witha strap, like the flintsones would do
of course you wouldnt be able to tell time at night..but hey! cant have everything ya know




posted on Jun, 3 2011 @ 01:26 AM
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Might as well use actual money as toilet paper too, like the super rich would
money to brun baby , in the fireplace...money to burn!!
thats making a point..its irresponable for how things are now. in the 80's, when i was a kid, it seemed everyone was happy..had jobs, knew the enighbors and watched out for eachother, toys and everything was made in USA
90's seemed sketchy and 2000 to now, outsourced, imported toxic plasticss to make toys, and its best to now know yuor neighbor, for whatever being sae reason that might be*
how times have changed



posted on Jun, 3 2011 @ 01:28 AM
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Originally posted by deltaboy
Thank God I hope it happens. That way other countries will be in an economic boom while the U.S. suffers. Just like the previous Great Depression.


Well, world is very different place than 80 years ago. World is now much more interconnected and interdependent. Everyone will take a fall this time, wait and see...



posted on Jun, 3 2011 @ 01:29 AM
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We're in the depression this is the verge of final collapse! But I get where your coming from. if you have a job and can pay your bills it's a recession. If your out of work losing your home and wondering where your next meal is coming from it is a full blown depression. The population is much larger today then in the 1930's so it has not hit critical mass yet. When it does that will be the tipping point and all bets are off. I believe I read somewhere there are 44 million Americans on foods stamps that does not include things like share and other welfare programs. Our state just cut a bunch of handicap folks on aid etc. Every town city and state is broke and living on credit. Cops are out in force trying to generate more revenue by extorting travellers etc... It can only end one place barring some divine intervention.



posted on Jun, 3 2011 @ 01:37 AM
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Originally posted by ziggy1706
ah the carbon credit scam...the funny thing is, for example, big oil makes alot of crabon i bet.businesses deforesting trees, automakers not allwoing us to have cleaner burning cars...and were responable??? what a lie
i saw documentary on this..apparently this is how carbon crediting works..you buy or invest in it, and kinda like a bank, you get interest* thats my understanding of it, though might be wrong..
why should anyone pay for damage(releasing of carbon) when big oil comapnys are charging an arm n leg at the pump, let alone home heating oil, and is known to let more carbon into the atmosphere than solar power? its all about profits $$$$$ f it wasnt involving $$$$$ they all would care less if we all choked to death form thier by product.





posted on Jun, 3 2011 @ 01:37 AM
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I wonder what is so importnat about INdia right now? i remember reading hee months ago, someone form INdia posted here, wanting to know if something was up..4 fo the big bad banmkers were coming into his city thier and developing* MY roomate now, he b/f is moving to a city near central India for 2 years bcuase of his job. she even told me, he told her thier puttting up buildingss thiers...
and since corporte america seems to favor outsourcing to India* i think India might be okay for a while..till the banks crash n dry htier citys up too. As for the rest of us...its like corporate america has abandoned us taxpayers, the oens who buy thier ctuff theyde be nothing without us* maybe we shold stop buying thier crap. maybee thats why thier was a seemingly 'monopoloation' going on..so were all forced to have to buy from one or 2 companys..they get $ and more powerful then. its shopping by force, not freedom of choice*



posted on Jun, 3 2011 @ 02:00 AM
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reply to post by JR MacBeth
 


You're 100% correct. They'll fix it, because without money, the political structure, statutory law enforcement and various other similar fictional things are baseless. So they loose control. A good sovereign/creditor is always in control



Black monday was the largest banking stress test ever, utillising the DTCC, the largest bank in the world that no one knows about. It was a clear demonstration the system can be restored from just about anything.



posted on Jun, 3 2011 @ 03:04 AM
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reply to post by GhostR1der
 


It is mathematically impossible to restore the system. the massive bailouts only prolonged the crash but will make it worse when it does crash. You can only blow a bubble up and deflate it so many times. No Fiat system in history has ever lasted more then about 40 years or so and they have all ended in disaster. This one is no different it is on its last legs since it begin in 1972. They are just playing with the last 5-10% of the bubble till it collapses and this is the largest bubble in known history 100 times larger at least then the 1933 bubble. So the consequences of the crash will be that much greater. We are in uncharted territory in terms of how bad it will get. They just do more of what caused the problem to supposedly fix it. It is essentially like living on an almost credit card and just borrowing more to make the payments eventually the credit runs out and your life style collapses.
edit on 3-6-2011 by hawkiye because: (no reason given)



posted on Jun, 3 2011 @ 05:58 AM
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I think this it guys. No more fixing and saving the people. The NWO wants to get rid of the middle class and turn everyone into their slaves. Whoo hoo! Go Amerika!



posted on Jun, 3 2011 @ 06:02 AM
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reply to post by hawkiye
 


You are also correct in principle (I used to share an identical view). USA has been through 2 central banks so far, however this current global system is completely fictional, not gold backed, which has its drawbacks and benefits. When they took our gold, they had to give us something just as good if not better, or it's theft. They gave us unlimited abundance, although we usually are unaware of this.

Don't overlook the principles of commercial balance - charge and discharge. Asset/ledger. Zero.. balance. The system can be fixed using this principle and run in balance as a finely oiled machine. You are right in the way that the system is out of balance at the moment (too many debtors), however in time this will change, it is very slowly happening. If it doesn't change in time before the USD becomes comparible to the Zimbabwean currency, they will simply replace the affected currencies... not like commerce will suddently just stop. People need to buy food. Bankers need power and always seek control. Foreclosures are simply a way to own more of the earth, it is in their best interests, they don't 'loose' money when this happens as we are taught. Their game is control and money is the playing board.

The 'NWO' has been in power for thousands of years. Their ingenious code forms the very fabric of commerce, it is based on the same ancient principles as common law (originally from the bible) and to be in ignorance of it makes living challenging, just like almost everyone in this commercial world.

edit: quadrillion dollar derivatives bubble though... eeek. Out of sight and out of mind for most. It'll most likely be the straw that finishes the USD.
edit on 3/6/11 by GhostR1der because: (no reason given)



posted on Jun, 3 2011 @ 08:25 AM
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reply to post by sonofliberty1776
 


That's something that really bothers me, the whole 'double-dip recession' farce! Double-dip recession = Depression. Though the MSM won't call it that, because of the connotations of the word.

According to the Kondratiev wave, economic performance is cyclic - i.e. it follows a pattern of prosperity, recession, depression, recovery - ok this is a little inflexible.. but surely in line with this theory (and with a little bit of common sense - I mean really.. where's the line between double-dip recession and depression?), we have entered (naturally) another depression - ok cool, it'll pass. But whilst everyones losing their houses and livelihoods, at least have the decency to call it what it is rather than protecting the elite from accountability!

Grr..



edit on 3-6-2011 by arollingstone because: punctuation



posted on Jun, 3 2011 @ 09:21 AM
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Thuis game called homefront shows the fall of the US through an economic depression. However at the same time North Korea became a mighty superpower who invaded a now Vulnerable United States. Can this happen in real life?



posted on Jun, 3 2011 @ 09:54 AM
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May jobs report: Hiring slows, unemployment rises




NEW YORK (CNNMoney) -- In yet another alarm bell of a weakening U.S. economy, the job market took a disappointing turn in May.

The economy gained a mere 54,000 jobs in the month, a significant slowdown from 232,000 jobs added to payrolls in April, the government reported Friday.

"It is now pretty clear that the economy ran into a brick wall last month," said Paul Ashworth, chief U.S. economist for Capital Economics, in a research note. "The extent of this slowdown is becoming a big concern."


money.cnn.com...

"Slowdown"...what a lovely word...



posted on Jun, 3 2011 @ 10:13 AM
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Originally posted by GhostR1der
reply to post by JR MacBeth
 


You're 100% correct. They'll fix it, because without money, the political structure, statutory law enforcement and various other similar fictional things are baseless. So they loose control. A good sovereign/creditor is always in control



Black monday was the largest banking stress test ever, utillising the DTCC, the largest bank in the world that no one knows about. It was a clear demonstration the system can be restored from just about anything.


A lot of doom and gloom, but more is under control than is generally appreciated, on so many levels. You're one of the level-headed ones I see, who sees the bigger picture.

Usually, the "fix" is well under way by the time the poo is really hitting the fan. In this case, we already know that gold has been a component of SDR's for a while. What the real "plan" is, we don't usually know, until it's fully rolled out.

In the vid I posted on the previous page, this is exactly what Ron Paul is complaining about. He tells the Fed point-blank that they're planning on something, and that not even Congress has a right to know what they're up to.

Of course, the plan wouldn't work well otherwise. They are inherently "surprises", to some extent, otherwise the market might "anticipate" so much that they could undermine the plan.

But the market does sem to be "anticipating" something, with gold singing like the canary in the coal mine.

The PTB understand the game quite well. Yes, they can create havoc at will, implode systems, create order out of the chaos they caused to begin with, and each time, get immensely more wealthy, and powerful, in the process.

Centuries ago, humanity reached a tipping point, but hardly anyone noticed. Wealth had concentrated into the hands of a few enough to create something of a perpetual motion "machine", as they manipulated economies and peoples, always accumulating ever more. Always the next generation was more powerful than the previous.

JR
edit on 3-6-2011 by JR MacBeth because: (no reason given)



posted on Jun, 3 2011 @ 10:23 AM
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Originally posted by Illusionsaregrander
Recession= economy takes a step back. Depression= its a really big step back and it lasts for a long time.

Collapse= our currency is worthless, and our national creditors are banging on the door.


I agree, we're not heading for a depression, we're already in one. We're heading for a total collapse. The amount of debt we've accumulated is stunning, including personal and government debt every household in America has a total debt of 675,000.00. And no, I didn't accidentally add zeroes to that, every family owes an average of 675 THOUSAND dollars. Source. It should be obvious to anyone that we can never recover from this, it's out of the question. We cannot pay back debt that amounts to 675k per family, it's impossible. So what will happen? At some point borrowers are going to realize how high the risk of loaning us money has become, and they will slow and eventually stop the loans. Then we will no longer have the ability to repay debts because in essence we're currently paying debts via borrowed money. We will default on our debts. At that point entitities like China that are holding our debt are going to try to collect what they can, they will attempt to cash out. So there will be a run on our reserves. We will print more money to pay the debts which will of course devalue the dollar. Next stop- Argentina.

America has proven to be very resilient in the past, and will survive this as well. But forget about the America you know now, it's days are limited. We'll be much leaner, much less prosperous (what folly to base prosperity on borrowed money anyway), much less powerful in the world. But we'll survive.



posted on Jun, 3 2011 @ 10:28 AM
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The title should read:

The government finally admits to Americans that we are in a Great Depression.

The government, in essence, took out cash advances to pay the minimums on our credit cards. Anybody that has attempted this realizes that it works for awhile, right up until the snowball gets so big it consumes everything in it's path.

You can not recover economically without real estate. You can not have a viable real estate market if nobody is working. You can not continue to extend payments to the unemployed when the number of employed continues to shrink and the number receiving benefits continues to grow. You can not recover financially if you continue to grow your debt but lessen your profit. You can not sell off all of your assets, then spend that, and wonder why you have no collateral left. You can not spend a $1.17 for every dollar you receive in taxes and not realize you are going to run out of money. You can not raise taxes to recoup your losses and still spend more.

The truth is that we didn't hit bottom hard enough for the vast majority of people to make the tough choices. Just when we were about to sink, the government cast a net and "rescued" us. The ones holding the net are the taxpayers. As more and more taxpayers lose hold, and fall into the net, there are less people holding it up.



posted on Jun, 3 2011 @ 10:45 AM
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Originally posted by deltaboy
reply to post by ziggy1706
 


I want to get my hands on a new black Fossil watch that is 250 bucks. As well as a new Louis Vuitton long wallet which is 525 bucks. Thats my recession.


I really hope this is sarcasm....



posted on Jun, 3 2011 @ 10:59 AM
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I've been expecting this economic collapse for awhile now.
When executives fired the middle class and they were losing their homes, I laughed as those same executives said it was because of sub-prime loans.
It's the same reason why the economy is broken. Consumer/workers aren't paid what they are worth so they have no buying power.

I knew it was because of job cuts and slimming wages. I was working at the bank at the time.

The government can create a temporary jobs program and put people to work who want to work.
The government can raise the minimum wage.
Nah, too late.

This is what you do. You get defense. You get people together who think like you. You start to farm land for vegetables. Prepare for the split of the Union. It's coming. I've seen the future.



posted on Jun, 3 2011 @ 11:17 AM
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wont matter really... when nibiru and elenin and whatever else is coming from outer space, now will it....


The time is nigh the time is nigh.....


gotta go to the bottom before you can get to the top.



posted on Jun, 3 2011 @ 12:03 PM
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Another doomer thread ?

The US is not on the verge of another great depression. The economy and the stock market go up and they go down. UP and down. The overall trend is positive. This is just a little bump in an over all recovering economy.



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