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Economic `Armageddon' predicted

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posted on Nov, 24 2004 @ 09:12 AM
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at the point of time, could it bre a deliberate paln by the powers to be to instigate a financial crisis? I dunno how many will have remembered before Bush came in office, before, way before elkections: He said that he felt a recession coming on. And that's was way before the bottom fell out the market? Right now no one knows really how will it pan out. My best suggestion to ppl is not to rely on your boss, your college degree, your contacts, the government to get through the coming economic storm. It seems that we will have to go back way before the INDUSTRIAL REVOLUTION. Where people tending to own self. and rely on themselves as sources of income. In the hard times , it all comes what skills you have and what available ca$h,gold, land in hand that counts..




posted on Nov, 24 2004 @ 01:44 PM
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Originally posted by DeltaChaos
Our internal national debt is also not owed to American financial institutions. Our loans are drawn mainly on Chinese and Japanese banks. When previous leadership was confronted about the problem of debt, they could easily dismiss that it was a problem by pointing out that our debt was drawn on our banking system, and that the interest we paid was paid back to ourselves, and therefore only strengthened our own economy. Now, we are paying interest to and investing in other countries, many of whom are potential enemies.


Most of our national debt is owed to AMERICANS, about 20-25% is foreign owned, thats around 2 trillion....



posted on Nov, 24 2004 @ 02:37 PM
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1. I will make money, regardless; my personal concerns are always with how to first keep the most of it, then how to increase that multi-fold.

2. Morgan Stanley has been a client for over 10 years. They've built their rep & wealth on stellar advice & researched information, as well as being a theiving bunch of bastards that require you to count your fingers after you shake hands with them. But, that's a comment on the breed as a whole; you will find the same at every boutique investment house as well as the big boys.

3. The US economy is soley maintained by consumer spending, with it ( consumer discretionary income ) being at direct odds & severe detriment with all of Bush's policies. The resulting skyrocket of interests rates will decimate one of the toothpicks that have propped our economy - new home construction. We are entering BLACK FRIDAY in the US, the day after Thanksgiving which starts the Xmas shopping frenzy. People will be putting both Xmas presents AND gorceries on that same Visa card. Higher interest rates? A stone cold killer to that income strata.

4. 40% of our debt is froreign owned; there was as earlier quote at half of that.

5. Bush is an idiot ( A given ) and will take as what he interprets to be "political capital" and further cut taxes for the upper economic classes while trying to privatize Social Security. Given a gerrymandered Congress, he'll have another Republican rubber stamp hastening the Armegeddon.

6. The Director of the National Economic Council just resigned! And in typical Bush fashion, they're not looking to get a brain trust established as the replacement, a person of reason who can assess &give honest recommendations for course correction. Here's wht they're going for in a replacement : "Tim Adams, a former Treasury Department chief of staff and policy director of Bush's reelection campaign, had been favored in the days after the election."
They will put someone in the role who can push their agenda, not do the job as a subject matter expert.

In closing, you do have the Idiot's version of a Perfect Storm: a Meglomaniac who thinks he has a mandate, a party with no ballz to oppose his mad musings yet with 3 branch control, policies designed to shift all the burden to the middle, and a US economy being carried by that same middle via consumer spending.

It brings to mind that Irishman's quote from Braveheart: " I've been speaking with God & he says I'm ok but you're fooked!"



posted on Nov, 24 2004 @ 04:03 PM
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Debt = bonds, most in the hands of speculators that trade these things daily in vast quantities. Some are owned by foreign countries but we do not "borrow" with foreign banks. They buy our debt paper as do many people. The currency problem is now that the EU is picking up steam, people are buying into that currency and buying their paper and selling ours. Not a bad thing, just a new reality of the changing global economy.

Now, we could be out of debt as country overnight if we printed up enough money and devalued our currency. See, our debt is backed by the "full faith and credit of the US Government" and is denominated in dollars. Print enough and buy back all the paper as a buck is still a buck at that point. Problems do however occur and would ripple through the economy as we would have trouble buying good from oversees. Then again, US companies would sell more exports as our products would be cheaper. Tough hole to dig out of if you go down this path. Easier to stimulate economy, get tax revenue up and buy back paper....

Now, our debt as a percentage of GDP is actually rather low and lower than most countries on the planet. They have bigger problems than we do on that account. Also, as for investment, where would you rather buy vacation property - Vail or Beijing??!! Lot's of foreign investment in the US and it's been steady and growing and is likely to continue to. For all of our problems, we are still a great place to live, work(invest) and play....



posted on Nov, 24 2004 @ 05:00 PM
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Originally posted by Bout Time

2. Morgan Stanley has been a client for over 10 years. They've built their rep & wealth on stellar advice & researched information, as well as being a theiving bunch of bastards that require you to count your fingers after you shake hands with them. But, that's a comment on the breed as a whole; you will find the same at every boutique investment house as well as the big boys.



The new Block Transfer rule is the most irritating thing in the world, if they can make up their mind how they want to enforce it.



posted on Nov, 24 2004 @ 07:58 PM
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Originally posted by UofCinLA
Now, our debt as a percentage of GDP is actually rather low and lower than most countries on the planet. They have bigger problems than we do on that account. Also, as for investment, where would you rather buy vacation property - Vail or Beijing??!! Lot's of foreign investment in the US and it's been steady and growing and is likely to continue to. For all of our problems, we are still a great place to live, work(invest) and play....


That is one of the smartest posts I have seen in a while, you have a good grasp of things m8!



posted on Nov, 24 2004 @ 08:18 PM
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Originally posted by edsinger

Originally posted by UofCinLA
Also, as for investment, where would you rather buy vacation property - Vail or Beijing??!!

That is one of the smartest posts I have seen in a while, you have a good grasp of things m8!


The problem wth it is we spent so long hating them, that now they don't want to come here. Why should Europeans buy vacation property here when we spent the majority of the last 4 years thumbing our nose at them?

America as a Superpower is a glass cannon. Powerful, but fragile. When we throw our weight around too much, we run the risk of alienating the guys in second place. The Iraq war, whether we agree or disagree, was disasterous for us on the global stage.

The bottom line: You can't have it both ways. You can't claim American independence when we're so heavily indepted to foriegn investment. You can't preach nationalism one minute and then expect foriegn cooperation the next. You can't bully the world, and then expect them to play with us.



posted on Nov, 25 2004 @ 06:47 AM
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with the debt to hit 8.2 trillion on monday,one wonders if america's economic is about to collapse? maybe not now,maybe a few years like 2006?? one wonders,what chaos the world will be in. Is this afulfilment of prophecy?



posted on Nov, 25 2004 @ 07:32 AM
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Originally posted by moxyone
Roach doesn't know what he is talking about.

He's an overpaid buffoon.


And you are an underpaid Buffoon. Roach is wrong I will agree with you there. I did not read beyond the first 1/2 page of this post for it was ignorant.
This administration has successfully embroiled us in a unnecessary war, sent our National Guard to die slowly, pitted American against American, exported all our jobs overseas for corporate benefit, increased our trade deficit to where Germany is now the worlds largest exporter, [btw Germany is where skull and bones originated, not that their is a connection, buffoon] bankrupted our Nation, failed in negotiation with China and Japan to de-value their currency to prop the dollar [they called his bluff, told him to ES+D]] our economy is toast. Six months at most to pull a rabbit out of the hat. Good luck Cheney, invest your Haliburton Bucks.
The American worker is dead meat he has been sold down the river. You are and have been successfully screwed. Dufus!



posted on Nov, 25 2004 @ 07:55 AM
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its difficult to say when/if the US economi is going to collaps, nobody can say for sure when the ballon is gonna blow( thoose who study history may know what happend on wall street in 1929
) invest in gold & other valuable metals. even thoug the euro is stronger than $ now, its gonna take a punch in the belly if the us economy collapsed



posted on Nov, 25 2004 @ 08:32 AM
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Indeed the world economy will suffer all nations. #1 they suffer better than we do #2 they will hold the high ground and scream, 'we told you so' #3 communism will bound back long before we do. They are in position. We are their third world country. Not the 2 to4 % THAT CONTROL THE WEALTH but the rest of us hard working Americans. Do not worry your precious Administration will be fine. Carlyle, Halliburton, Dynacorp, Bechtel, will all do fine. Condi, Cheney, Bush Dynasty, Baker, they will all be fine and happy. The cream of the crop will be fine, do not worry, America. Your chosen are set.



posted on Nov, 26 2004 @ 12:46 AM
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.
Haven't you seen those cartoons of the little old man holding a sign saying "The world will end tommorrow".

Armegedon? probably not.

But there are some seriously worrying economic things in the works.
Americans are living on credit that is lent to this nation from China and other foreigners. If they pull the rug even by accident it could be pretty bad for this nation.

Social security is essentially bankrupt and most of us late babyboomers very probably won't get much from it. Privatizing it will add one or two trillion to the bill. If they pay benefits it will probably cause extreme inflation. If they reduce payments and extend the initial claims age it could cause political instability.

The government's pension plan guarantee program has taken over enough failed businesses plans to total 50 billion now. This will probably grow.

The government is running record deficits, fighting a war (which is always expensive), and the economy even at record low interest rates is still not robust (or creating good paying jobs).

The low interest rates have fueled a huge housing boom, but if there is a rise in rates combined with some economic instability, it could be if you save some money now you could pick up a home quite cheaply in the next few years. **note: my economic predictions are more often than not wrong. *shrug*

I personally don't have much faith in this (Washington) government of ours, so I am acting economically defensively. But that's not to say things won't turn out all right. I personally believe someone who was inspiring and forward thinking would do wonders for this nation's economy, but squelching scientific voices and pretending that creationism is science looks like a dead-end to me.
.



posted on Nov, 26 2004 @ 06:03 PM
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The dollar's decline lifted gold prices above 455 dollars an ounce for the first time in 16 years.

The latest blow to the dollar came from a report in the Shanghai-based China Business News that China had cut the size of its US Treasury bond holdings in its foreign exchange reserves.

Although the report was later denied, it fanned concerns that central banks in Asia, Russia and the Middle East would continue switching their foreign currency reserves from dollars into euros.

"With dollar sentiment so dire this will serve as another reason to continue pushing the current foreign exchange trend," said Derek Halpenny, economist at The Bank of Tokyo-Mitsubishi.

The dollar's decline cast a shadow over stock markets in Europe and Asia.


uk.news.yahoo.com...

This could be considered a feint By China. To probe reaction or to threaten action. Ah the inscrutable Oriental mind. At any rate the rumor was China was going to sell all holdings of American investment except for 180 billion dollars. How much dollars they have is unknown. The rumor was enough to send a shudder.
Let's hope our administration is real adept at poker. It is gambling with our economy and savings. And he wants to privatize social security and play with your money in his high stakes game.
Eh! whatever


Polar Bear



posted on Nov, 26 2004 @ 11:17 PM
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I believe that a large scale terrorist attack on america with a video saying there will be future attacks will hurt the american economy enough so that their are massive layoffs, no consumer confidence, rising interest rates, and then after a few months the entire world stops buying our debt and the govt defaults on its payments.

The Republic is gone...The 2nd Great Depression Started and America on the verge of Civil War.



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