Economic `Armageddon' predicted

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..

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....

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!"