Government Insider tells me Economic Collapse is Imminent.

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posted on Jul, 14 2011 @ 09:55 PM
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Originally posted by jondave
I can tell you Canada is about to loose out in Real Estate values too. They do not pay entitlments such as welfare unless nessesary and taxes are high because of medicare and government waste. Guns virtualy do not exsist. Which makes Me wonder why Americans are preparing for a depression by buying guns. You cant eat a gun.


you buy guns to protect those you love and the food you have. you buy seeds and cattle to plant food once your dry goods are gone. the guns are there to pretect your livestock, crops and family.

Guns are for protection




posted on Jul, 14 2011 @ 10:21 PM
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Originally posted by unityemissions
Not saying you got conned, but doesn't it make sense for the owner of a gun store to spread panic by starting rumors of collapse...for increased sales?


ehmm... no



posted on Jul, 14 2011 @ 11:27 PM
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The economic collapse has been "imminent" for the past 3 years. Define "imminent" in terms of this guy's claim.



posted on Jul, 15 2011 @ 12:11 AM
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Originally posted by camaro68ss

Originally posted by unityemissions
Not saying you got conned, but doesn't it make sense for the owner of a gun store to spread panic by starting rumors of collapse...for increased sales?



well i guess you can say that but look around at all the familys not paying there house payments. living at home for free.

and all he got from me was a box of ammo. Long story for a box of ammo


I'm not usually one to be a grammar nazi, but.... *I, families, their, and many others.* Seriously, not trying to be a jerk here but it'll help you out in the long run, because you look a lot more intelligent when you take the type to type correctly.



posted on Jul, 15 2011 @ 12:26 AM
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reply to post by Celtickid
 


so from reading that OP, THAT'S what you get out of it?
some spelling mistakes? not the fact that the US is in dire straits and one bad presidential/congressional decision from becoming a 3rd world country and starting a devastating domino effect on economies around the world?



posted on Jul, 15 2011 @ 01:45 AM
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Originally posted by camaro68ss
so basicly the story is banks are yet to account for the losses on homes in there books yet.


Yup... and even without these losses the big boys needed a bailout already.

1.2 trillion more or less, doesn't matter in the USA as longs as the presses are printing right...?

can "you" PLEASE stop destroying your own economy and dragging the world along with you? (working as intended i guess but it's getting frustrating to watch)



posted on Jul, 15 2011 @ 02:11 AM
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reply to post by camaro68ss
 


Interesting note...the general idea is seemingly plausible. However, every story has circumstantial evidence which much be divulged to extrapolate consequences with accuracy. The final question I have is: How will families claiming bankruptcy affect the FDIC in terms of bankrupting our economy? As in, there must be some derivatives tied to the real estate which can refinance these shortcomings as a temporary solution. Just food for thought.

Also...banks generally scale loans out on a 10:1 basis, not 100:1.



posted on Jul, 15 2011 @ 02:56 AM
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So what if it happens? As a human you should be able to break out 'a BB gun and shoot some squirrels, bird's and rodents? ?. Are you able to grow your own vegetables year round? yeah?....Sorry I was being sarcastic. Ha ha.



posted on Jul, 15 2011 @ 03:04 AM
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I would agree with the OP entirely with only one minor issue, as I estimate the actual number of homeowners who have defaulted over 90 days or more would be closer to 8 million or higher.

What is of even bigger concern is when the day comes that all of these banks and investment firms have to scrape all of the defaults on the empty commercial space that is sitting in every city and town of the US with nobody making the payments. Huge amounts of commercial and industrial space that has gone into default, massive amounts of write off's.

The commercial defaults will make the residential defaults look puny by comparison.

And I work in the finance and mortgage industry, so Im not making any of this up.



posted on Jul, 15 2011 @ 03:35 AM
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reply to post by camaro68ss
 


I get my insider info from the Paper Shop but
This sounds a bit like BOA

But my Insider says, the Government is going to force them to take money
to delay the Foreclosures Again.



posted on Jul, 15 2011 @ 04:21 AM
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if/when the US goes belly up and has to, for all intents and purposes, file bankruptcy....are individuals personal debits going to be forgiven as well? will everyone start with a clean slate? cuz i have some student loans and if the govt wipes its debit out, do i still technically owe them anything?



posted on Jul, 15 2011 @ 05:06 AM
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Originally posted by iNkGeEk
cuz i have some student loans and if the govt wipes its debit out, do i still technically owe them anything?


Yeah, but I would imagine that the resulting hyperinflation of the dollar will allow more than a few folks to pay off their student loans pretty quickly. Assuming there isn't some sort of hidden mechanism within the student loan program that allows them to suddenly refuse US dollars and if your rate is locked in, the real world value of what you owe will crash alongside the real world value of the dollar.

Imagine this (EXTREME example, highly exxagerated) if you owe $40,000 in loans, and a loaf of bread right now costs $5, then your total payments could be explained in loaves of bread... meaning you owe the equivalent of 8,000 loaves to pay off those loans. However, if we see mad hyperinflation following a collapse, let's say it suddenly costs $500 for a loaf of bread, now your loan is worth only 80 loaves of bread! The lower the dollar's value goes, the less that loan becomes worth in terms of real world buying power. If we reach Zimbabwe levels of hyperinflation, those student loans will be worth about as much as a "slightly used" toothbrush in the nickel section of Goodwill. (Brush my teeth with a tootbrush that has somebody else's popcorn hulls stuck to it, or pay off my student loans? Hmmmmm..... tough call.)



posted on Jul, 15 2011 @ 05:19 AM
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reply to post by burdman30ott6
 


awesome! an upside!!



posted on Jul, 15 2011 @ 07:46 AM
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Originally posted by AwakeinNM
The economic collapse has been "imminent" for the past 3 years. Define "imminent" in terms of this guy's claim.


Economic collapse has been 'imminent' since people were encouraged to spend beyond their means. That isn't in the last 3 years although I know you would love to blame your current president for this. It's been a long time in the making and I don't think it's down to the mythical P's that B, it's down to greed at an individual level. If you promise to pay more than you can realistically afford to then this is going to happen - this isn't said from an ivory tower perspective, I've been as stupid as a lot of people have and am now paying for my younger selfs rash decisions.



posted on Jul, 15 2011 @ 09:41 AM
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Most of you won't have a choice. You'll need to go to Canada.



posted on Jul, 15 2011 @ 09:46 AM
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People really haven't been living beyond their means. I also used to work for a Credit Collection agency.
People were spending their credit cards on food and gas after they lost their high paying jobs during the outsourcing .

I would stock up on weapons. If riots and pillaging start to happen, get your family to Canada and start living off the wilderness up there. It will be warmer in the near future.



posted on Jul, 15 2011 @ 10:07 AM
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Originally posted by ren1999
People really haven't been living beyond their means. I also used to work for a Credit Collection agency.
People were spending their credit cards on food and gas after they lost their high paying jobs during the outsourcing .

I would stock up on weapons. If riots and pillaging start to happen, get your family to Canada and start living off the wilderness up there. It will be warmer in the near future.

If you are using your credit card to pay for food, you don't think that is spending beyond your means? Why is Canada going to get warmer in the future?



posted on Jul, 15 2011 @ 10:22 AM
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edit on 15-7-2011 by camaro68ss because: (no reason given)



posted on Jul, 15 2011 @ 11:37 AM
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I'm from the future.

I can tell you what is just about to happen and how to survive this.



posted on Jul, 15 2011 @ 12:03 PM
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reply to post by something wicked
 


If you have to charge food, yes, you're living beyond your means. But is it morally, ethically or financially irresponsibile?

It depends upon whether you're buying caviar, champagne, and filet mignon or bread, milk and hot dogs.

A parent's first duty is to their children's welfare, not a bank's, nor a society's. Hell, a person's first duty is to their family, not an economy's. If the managers of the economy screw it up to the point that a person can't find a way to support even a minimal lifestyle in a legal manner that ensures no hunger or homelessness, then people are under absolutely NO moral or ethical obligation to support either the managers or their economy or to abide by the incompetent managers' legalisms.

The conservatives have basically said it's every man for himself, but then demand that those for whom they will not provide jobs, food, or shelter simply go quietly starve in the corner in a law-abiding manner so that they, the conservatives, can watch their net worth grow.

That's not going to happen, never has in history. When a society can no longer provide for the basic needs of it's members, it falls apart. If it is truly "every man for himself", then don't be surprised when the rules go out the window and people take what they need from the corporate giants: food on credit cards that won't be paid for is a simple direct expression of this. In different times the food would be taken by force, now it is easier to charge it and then delay paying or never pay.

But that option is starting to close because of the the greed and mismanagement of those who have usurped the controls of our society to promote their own narrow interests over all else.

Basically, I view pretty much everyone who refuses to consider tax hikes on the wealthiest as traitor to the nation, putting selfish interests ahead of the very idea of nationhood. They deserve banishment from society, if not death.

Sadly though, the selfish sociopaths are in ascendancy and will prevail, I think.

Stick a fork in it:

The US is as done as the USSR.

edit on 15-7-2011 by apacheman because: sp and clarity
edit on 15-7-2011 by apacheman because: (no reason given)
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