Government Insider tells me Economic Collapse is Imminent.

I've never seen eye to eye with you before, OP. However, certain things I have seen felt in the past week while practicing introspective meditation, have lead me to question the situation we find ourselves in.

Did your, "man on the inside", provide you with any type of round about date? Just curious, of course.

If possible, please provide months and or days where we can expect to see these events begin to unfold.

Originally posted by Stovokor
So a CBS new link is your gun store government insider??

how old are you like 12? no the news story goes with the OP and i bet you did not read the news based on how fast you replyed back so that leads me to think your trolling my post.

if you have nothing good to say please leave

Thanks so much for the info Camaro... No matter what the nay-sayers are saying...

4 million homes, holy crap... And yeah like you said... those 4 mil homes are spending the money on the economy which they would be normally just wasting away paying off the bankers... so what happens when those families are forced out of their homes... where the hell are they going to go? If they couldnt pay mortage, they sure as hell arent going to be able to pay rent... Tent cities will be popping up everywhere...

I for one am ready for the system to reboot... Long overdue... We are just patching up the problems with paper(dollars)... not even using duct tape.. just paper... How long can that last

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

He got much more than that.

You are spreading the word.

THAT is what he intended to do. It's even more telling that he thought of speaking softly...as if that really mattered

I agree that families aren't paying their mortgages, and that many are being kicked out. I agree that another wave of foreclosures is on the way...It's just that this guy isn't a "government insider"..he was on a contract as a private company working for the government. It's totally different. Besides, you said he was probably just doing security for them.

I'm just saying...all you need to do is be a little more than brain dead to have heard that another wave of foreclosures is on the way, this late in the game.

I could be wrong!

Originally posted by TheOneElectric
I've never seen eye to eye with you before, OP. However, certain things I have seen felt in the past week while practicing introspective meditation, have lead me to question the situation we find ourselves in.

Did your, "man on the inside", provide you with any type of round about date? Just curious, of course.

If possible, please provide months and or days where we can expect to see these events begin to unfold.

no he just said They will be faced to clam there loses in the 3 quarter so I’m sure 3 months from now when 3 quarter ends.

It makes since. Do you know any banks that have written off there losses on the housing yet?

reply to post by camaro68ss

Your friend is very correct. There are many houses out there but the banks are holding them back due to worries of flooding the market. We had been looking at buying HUD houses, fixing them and renting because rentals are hot right now because no one can buy. The true standing of the country is very scary to me.

Originally posted by morder1
Thanks so much for the info Camaro... No matter what the nay-sayers are saying...

4 million homes, holy crap... And yeah like you said... those 4 mil homes are spending the money on the economy which they would be normally just wasting away paying off the bankers... so what happens when those families are forced out of their homes... where the hell are they going to go? If they couldnt pay mortage, they sure as hell arent going to be able to pay rent... Tent cities will be popping up everywhere...

I for one am ready for the system to reboot... Long overdue... We are just patching up the problems with paper(dollars)... not even using duct tape.. just paper... How long can that last

I fail to see how this reasoning is sound.

A mortgage note on a house is usually higher than renting an apartment, no?!

For instance, my mother is an EVP for a leasing agency, and her business has gone though the roof since the "recession" (depression) started. She's actually taking on a second job as an EVP again, for another company!!

I'm sorry... is this 'privileged' information, or something?!

I don't need an 'insider' or government official to know this. Really.

Originally posted by unityemissions

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

He got much more than that.

You are spreading the word.

THAT is what he intended to do. It's even more telling that he thought of speaking softly...as if that really mattered

I agree that families aren't paying their mortgages, and that many are being kicked out. I agree that another wave of foreclosures is on the way...It's just that this guy isn't a "government insider"..he was on a contract as a private company working for the government. It's totally different. Besides, you said he was probably just doing security for them.

I'm just saying...all you need to do is be a little more than brain dead to have heard that another wave of foreclosures is on the way, this late in the game.

I could be wrong!

well yeah anything is possible but this guy is not "Security" he body guards and if I did not think it was true i would not have posted it.

reply to post by camaro68ss


All signs point to something happening economically, and I'm pretty sure it's not good. I feel like I'm getting through day to day with the thought in the back of my mind that the rug will be pullled out from under me at any minute. The whole debt ceiling issue is finally in the MSM....although here on ATS we have been discussing it for months. The president threatening to end SS payments most certainly has people on edge and actually, I'm glad for it because now regular people are starting to have conversations about the reality of our economic situation. It takes a threat to get peoples' heads out of the sand it seems. Your conversation with the gun shop guy only shows that people from all walks of life are talking now. I find it credible that a gun dealer might have some inside info on government issues; I'm assuming there's a ton of red tape and government contacts to get licensed to have such a business. Anyway, information is always valuable so thanks for sharing.

Funnily enough I was talking to a housing appraiser who works with foreclosures at a big bank.

What he told me though was that the Banks have been told by the government not to foreclose on all these outstanding homes until they had sorted out the problems with the current foreclosures.

There are probably that many homes still to be foreclosed on and they are supposed to be done in the near future as it wont take so long to re-evaluate the existing ones.

I don't doubt the 4 million underwater guesstimate at all. That said, I don't think that your "source" has the full grasp of this. I think it is much more likely that the Federal Reserve is priming banks to drop this bombshell on the public in order to provide more excuse for QE3 to get underway.

Doing some quick math here, in May it was "good" news that the number of up-to-date mortgages (those that were not more than 30 days past due) had risen to just over 88% (up about a percentage point from the previous year). www.dailyfinance.com... Assuming somewhere around 50 million mortgages in the US, that equates to about 6 million mortgages in danger of being foreclosed on. In 2008-2009, a total of 4 million foreclosures occured, and that damn near crippled the economy... I'd guess another 4-6 million would do a good job of kicking the remaining leg right out from underneath what's left of the economy.

We won't see a economic collapse unless the population is reduced. They is just too many people to just let this happen without the banks getting over run. The banks know money is ficticious along with the interest. Its going to be about who holds commodities. They won't be anything to hold the people back from just going in and taking everything back. So unless we see a mass die off, you won't see a collaspe.

Great post OP

Whilst I cannot find anything to confirm this particular story, it does seem very plausible and I could possibly argue this is just the tip of a very big iceberg. If we take the financial issues the US are experiencing along with those that are currently going on in Europe (Italy have just joined the list of 'in trouble' countries, bringing the tally to 4 I believe) I do genuinely think that much is being kept from us.

I apologise if this is off topic, but it does smack of the alleged 'illuminati' plan to usher in the new world order.

Originally posted by Quovardis
Funnily enough I was talking to a housing appraiser who works with foreclosures at a big bank.

What he told me though was that the Banks have been told by the government not to foreclose on all these outstanding homes until they had sorted out the problems with the current foreclosures.

There are probably that many homes still to be foreclosed on and they are supposed to be done in the near future as it wont take so long to re-evaluate the existing ones.

if there foreclosing or not the point is there is a load of houses not being taken as a lose on the books and people are living for free and using that money to buy goods

reply to post by unityemissions


You may be right, im by far no expert on this... but when I was renting, it was 750$ a month for a 2 bedroom townhouse...

Ive seen mortages for 3 room 150,000$ houses around 800-850$ per month...

maybe things have changed, since this was around 08 when I was looking at the prices

The big bang. The housing BUBBLE IS ONLY THE TIP OF THE ICEBERG.

reply to post by unityemissions
It is not a wild rumor that the gun shop owner was telling. He is telling the truth. Speak to an assessor or mortgage company. It is the truth. There are many living in foreclosed houses that have yet to be removed. Also, there are houses that are available for short sale. I am not fluent on this but as I understand, you make an offer, if it is accepted (by the bank) you get the house and the banks get reimbursed for some of their loss from the gov't. The banks are flooded and the time to process foreclosure takes so long, of course the people stay.

I saw a news report this spring about a sheriff who foreclosed on an apartment building. The owner was collecting rent but not paying the mortgage. The sheriff refused to throw the tenants out because he has compassion.

Originally posted by unityemissions

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

He got much more than that.

You are spreading the word.

THAT is what he intended to do. It's even more telling that he thought of speaking softly...as if that really mattered

I agree that families aren't paying their mortgages, and that many are being kicked out. I agree that another wave of foreclosures is on the way...It's just that this guy isn't a "government insider"..he was on a contract as a private company working for the government. It's totally different. Besides, you said he was probably just doing security for them.

I'm just saying...all you need to do is be a little more than brain dead to have heard that another wave of foreclosures is on the way, this late in the game.

I could be wrong!

I think you are giving too little credit to Camaro for being able to decide if the story felt real or just a sales pitch, and I think you are giving too much credit to a gun store owner. The couple gun store owners I've met, always seemed to be straight shooters,(pun unintended) not manipulators and certainly not getting rich off anything I've ever said about them, which is nothing.

I believe there are people who hear insider info, and this guy was probably one of them. We all realize the economy is teetering, so I think the OP is pointing out to us, a possible straw that could break the camel's back.

I come to ATS for just this kind of info.

Originally posted by SunnyDee

Originally posted by unityemissions

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

He got much more than that.

You are spreading the word.

THAT is what he intended to do. It's even more telling that he thought of speaking softly...as if that really mattered

I agree that families aren't paying their mortgages, and that many are being kicked out. I agree that another wave of foreclosures is on the way...It's just that this guy isn't a "government insider"..he was on a contract as a private company working for the government. It's totally different. Besides, you said he was probably just doing security for them.

I'm just saying...all you need to do is be a little more than brain dead to have heard that another wave of foreclosures is on the way, this late in the game.

I could be wrong!

I think you are giving too little credit to Camaro for being able to decide if the story felt real or just a sales pitch, and I think you are giving too much credit to a gun store owner. The couple gun store owners I've met, always seemed to be straight shooters,(pun unintended) not manipulators and certainly not getting rich off anything I've ever said about them, which is nothing.

I believe there are people who hear insider info, and this guy was probably one of them. We all realize the economy is teetering, so I think the OP is pointing out to us, a possible straw that could break the camel's back.

I come to ATS for just this kind of info.

Im like you, i come here to hear what others hear around the nation. No one has to belive what i heard from this guy but this is what he said and there are numbers out there that will back up his story.

thanks for the support