Government Insider tells me Economic Collapse is Imminent.

Originally posted by surrealist
Interesting thread OP and appreciate you sharing. Was going to post some thoughts and decided not to with all the criticism and mockery. Getting really sick of it.

im all ears, who cares what the others say

Originally posted by snowspirit

Originally posted by camaro68ss
There is so much going on right now. I don’t see any solution other than a utter collapse of the global markets.

Scary times we live in

edit on 13-7-2011 by camaro68ss because: (no reason given)

Probable QE3, default or debt ceiling raise, upcoming mortgage/housing crisis....
What next?

um mad max type event, everyone fighting for food and water. lol but really, possible

Interesting story. Thanks for sharing.

I can't say that you/he are wrong, and I can't say you're right. But I can say that without corroborating evidence this has all the earmarks of urban legend/conspiracy theory. It's probably best not to take the ammo clerk's story seriously.

We saw this coming here in Canada years ago and the Government refused to allow the "Big banks" to merge and guess what the banks said to our Government?

" You will be so sorry you did not approve our mergers"
LOL
Fracking Is allowed here so I say Fracking Banks.

In the long run if they were allowed to merge.... the evidence is there for all to see that we too would have been a "Bankers wet dream come true"!
Fracking Frackers..........Hang em High I say!

I hope you guys to the south of us get this stuff worked out.
I really mean that as we feel for you there and yes we are not in the best shape either here, but at least we are out of Afghanistan and hopefully out of all these stupid wars going on right now.
Regards, Iwinder

reply to post by Stovokor

Originally posted by Stovokor

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?

Ding ding ding...think we have a winner.

I've been a registered member for 7 months...been visiting this site for over a year...I've seen exactly 1,982,345 end of the USA/world forums....sooooo sad...not one has came true...

edit on 13-7-2011 by Stovokor because: (no reason given)

Well when it does happen you would have had 1,982,345 warnings that went unheeded. Don't say we didnt try.

I've been visiting this site for six years (not that it matters) and I can tell you with certitude that the U.S. economy is in collapse and has only been help up through QE (which has to stop eventually one way or another).

I do not doubt the OP's story for a few reasons:

1. U.S. housing now worse than the great depression

2. "Top Economist" Robert Schiller says: he wouldn't be surprised if housing prices dropped 10-25% by the end of the year

While it would be a surprise to see prices fall steeply, it’s possible for homes to lose more value if inflation picks up, Karl Case, co-founder of the index, said today.

Anyone want to bet on the chances of seeing high inflation? Well so far this year it is upwards of 8% and QE2 hasn't even settled yet.

3. If you have been paying attention, the store owner merely confirmed what many of us knew. The real crash is coming, and the FED could QE a quadrillion dollars and it would merely aggravate the situation.

edit to add: We really need a "block troll" button on this thread.....good job everyone in no getting derailed. Hopefully he goes back under his bridge.....

Originally posted by Stovokor
Yup...I get all my inside info from loonies at the local gun shop too...

edit on 13-7-2011 by Stovokor because: (no reason given)

That is your whole post?
You my friend are out of touch with today's happenings
You probably "Hi fived" everyone in the room many years ago when George Bush Junior went on TV and claimed " The Economy is just fine and here is money for you to shop till you drop"
Regards, Iwinder

OP your account sounds very realistic.

I know two families that both had to leave their homes that were underwater because jobs were completely gone in the state they lived in. Now they are renting and living in another part of the country. 16 months later and no foreclosure paperwork has been filed on their homes that they could no longer pay on.

Both are dealing with Bank of America and they would not make a deal for deed in lieu of foreclosure or agree to a short sale, because no matter what option they would be forced to show the loss on the books.

I have no doubt it is coming. Most people with a head on their shoulders can see it coming, few are in a position to do anything about it. Most are just trying to pay the rent and feed their families.

Originally posted by Ace High
OP your account sounds very realistic.

I know two families that both had to leave their homes that were underwater because jobs were completely gone in the state they lived in. Now they are renting and living in another part of the country. 16 months later and no foreclosure paperwork has been filed on their homes that they could no longer pay on.

Both are dealing with Bank of America and they would not make a deal for deed in lieu of foreclosure or agree to a short sale, because no matter what option they would be forced to show the loss on the books.

I have no doubt it is coming. Most people with a head on their shoulders can see it coming, few are in a position to do anything about it. Most are just trying to pay the rent and feed their families.

Thats what im say, its all around us and it has not hit the books yet and accounted for a lose.

off topic: im glad the smart replys are coming out and this post is not being derailed anymore

Originally posted by camaro68ss
Ding ding ding, there are millions of familys not paying there house payments and banks are not collecting because they will have to clam a lose. ding ding ding. use your head

I am using my head and this sentence above makes no sense to me at all in any way shape or form. Then again, I know collecting a payment puts me at less of a loss then not collecting one does. What did I miss?

Originally posted by inforeal
Why are you folks always so arrogant and disrespectful to people. The guy gives us some inside info and you know it all's mock him.

Well, the info to me makes sense and if folks knew anything about the economy they would understand that this OP is talking truth.

For two years economists have been warning us that there was going to be a second round of foreclosures on regular mortgages and now it seems to be coming.

Good OP!

So kudos to the OP for sharing "inside information" that you already knew?
Odd thread.

reply to post by burdman30ott6


I am one of those 4 million that has quit paying.
But, I can assure you, the money is not being put back into the economy, I am holding on to it.

I wonder how much longer I have and I do not really care. I do have a job, so that is a plus.

Originally posted by Kitilani

Originally posted by camaro68ss
Ding ding ding, there are millions of familys not paying there house payments and banks are not collecting because they will have to clam a lose. ding ding ding. use your head

I am using my head and this sentence above makes no sense to me at all in any way shape or form. Then again, I know collecting a payment puts me at less of a loss then not collecting one does. What did I miss?

1. familys are not paying for there house anymore so they use that extra money to buy goods

2 banks are not getting payed for the house yet they are not declearing forclosure, there are 4.1 million homes like this.

3. when 3rd Quarter comes rolling around per this insider. banks need to forclose, take the lose and kick the familys out.

4 familys stop spending extra money on goods and now must find a place to rent and now dont have all that extra income

5 banks take a $1.2 trillion loss thats leveraged

6 hope this helped alittle

Originally posted by Kitilani

Originally posted by inforeal
Why are you folks always so arrogant and disrespectful to people. The guy gives us some inside info and you know it all's mock him.

Well, the info to me makes sense and if folks knew anything about the economy they would understand that this OP is talking truth.

For two years economists have been warning us that there was going to be a second round of foreclosures on regular mortgages and now it seems to be coming.

Good OP!

So kudos to the OP for sharing "inside information" that you already knew?
Odd thread.

you must not read the OP, the OP is in regards to a deadline and a ticking time bomb

Originally posted by Skewed
reply to post by burdman30ott6

 

I am one of those 4 million that has quit paying.
But, I can assure you, the money is not being put back into the economy, I am holding on to it.

I wonder how much longer I have and I do not really care. I do have a job, so that is a plus.

if i was you i would not pay eather, lucky you get to live in a house for free for the time being

I do believe the OP, I have so many thoughts and so many words and I typed out two full pages of ideas but I just keep coming back and deleting what I wrote.

It is OK! Let the bubble burst!

However, I do so love how the OP uses the word "clam" for the word "claim", it is cute and funny and it tickles my tummy! LOL

It brings a slight bit of satire to an already scary world. Besides, everyone knows that the original money in the world was "clams". Let's hope we can all start growing farms again across America and take back what was rightfully ours, the way of the Mom and Pop farmer is gone and it should not be that way.

Fresh eggs, fresh milk, wholesome foods and Family! Communities! Villages! Compassion and Charity!

Monsanto and all the Agri-Grow Industries need to lay down and die! Banks need to belly up!

Let's see those Clams!

A friend of mine is another one who is no longer paying. He tried, and tried to renegotiate his mortgage with the bank. The bank refused to work with him. He tried for 6 months to get someone, anyone to work with him...never got anywhere. He had bought his house back when the market was very high. Even if he sold his home today (like most Americans), he wouldn't even begin to get back what he paid for that home. It wouldn't even pay off what he still owes on his mortgage. Seems like they (the banks) are making it impossible for most Americans to keep their homes if they refuse to work with them. I can't blame most of them for defaulting. Especially if they tried to work with the banks and hit a brick wall like my friend did. They are in the court process of eviction. Wont be long now....

Originally posted by summer5
A friend of mine is another one who is no longer paying. He tried, and tried to renegotiate his mortgage with the bank. The bank refused to work with him. He tried for 6 months to get someone, anyone to work with him...never got anywhere. He had bought his house back when the market was very high. Even if he sold his home today (like most Americans), he wouldn't even begin to get back what he paid for that home. It wouldn't even pay off what he still owes on his mortgage. Seems like they (the banks) are making it impossible for most Americans to keep their homes if they refuse to work with them. I can't blame most of them for defaulting. Especially if they tried to work with the banks and hit a brick wall like my friend did. They are in the court process of eviction. Wont be long now....

That is so sad to hear, our thoughts go out to that family.
Regards, Iwinder

Another rumor is that banks haven't been taking people's cars back. The people that filed bankruptcy or lossed their jobs and couldn't make car payments....they'be been calling the banks to take back the cars but the banks aren't taking them.

-already is a glut of used cars on the market and dumping 10 million repo'd cars on the market would decimate their value.


....so the banks actually are letting people keep driving their new cars even though they aren't paying for them. What happens when everyone else just quits paying since Bobby Joe across the road is driving his new Dodge Challenger RT and not paying for it....why should you pay for your new Ford Fiesta and suffer eating Ramen noodles when that guys eating Lobster and driving a Challenger...for free?


It all started going South in 2000 when GMAC started giving auto loans to illegal immigrants....they got new vehicles for little down and a utility bill then FLED America with their new $40,000 SUV....never to pay for them. This sent GMAC into bankruptcy....

In 2005 illegal immigrants started getting mortages....15 million have walked away from their mortgages. They bought and sold homes between themselves and fled America with TRILLIONS! Hence why Mexico and everyone south of there has been BOOMING!

With the Trillions they stole from the US.

Originally posted by camaro68ss
Thats what im say, its all around us and it has not hit the books yet and accounted for a lose.

The losses are so huge it is amazing. I think I was born in the wrong generation. This is going to be real bad real soon.

reply to post by Ace High


No no you have it all wrong.....you were born in the perfect generation.

Although it is scary, we are living in one of the most unique times in the Earth;s history. From now until 2030 will be quite a tale