Wall Street fears for next Great Depression

Originally posted by Quantum_Squirrel
ok .. when this group of elitist have destroyed the U.S.A what then ? why destroy your base of operations?

They're all moving to Dubai.

The comming world government will be controlled from there.

reply to post by CyberTruth


I remember seeing that story, but I never offically read it when it first popped up. I should have, but I didn't. Thank you for the link. After reading through part of it (The first page rather a few comments into it) It's rather sad to see how far we have fallen...And the thing is, our media apparently doesn't want to portray it to show we are slumping is what gets me the most about that.

Those prices are just outrageous. Thankfully I don't have to much to pay for yet, but I'm sure whoever goes to the super market must be cringing at the prices. Even at wal-greens I heard some guy who was shopping had a whole basket of stuff, sat it down and went back for milk. Soon as he picked up the basket he just ran out the door (Without paying for any of it.) I don't know if they got him or not, but once I found that out I knew those tough times were coming. How much have prices gone up over there? Since every state has different gas prices, there must be different prices for groceries as well.

reply to post by CyberTruth


CT, I've started to freak out too. I bought a lot of canned foods that were on sale this weekend. I don't know why. I just have this weird feeling that I need to be prepared for something. I even bought a crank radio today.

I am going into quick and heavy Forex trading tomorrow, but I bought a few hundred Euros today at Travelex. Does that sound weird to you? I did it just in case the banks fail. It would horrifies me to think that all of my money would be locked in a bank that I would have no access to in case everything fails. Does that sound crazy to everyone else, or are my fears and actions justified?

We have to trust our instincts. It's what makes the animals run when disaster is about to come. We have those instincts too, but we are taught not to acknowledge them. I've tried to put off converting my US dollars to other currencies, but every time I sleep and wake up, I wake up with this incredible urge to bail out! And now I'm watching CNBC World, and all of the experts on the shows are telling me just that, bail out of the dollar.

I wonder what's going to happen tomorrow morning. We can't be the only ones who feels this way.

Leviatano that is a horribly negative signature you have about the world ending in 28 days. Cheer up sunshine. Problems come and eventually they do go or get better. Life goes on.

TheMillersdaughter:

I'm glad I'm not rich! Maybe this is the silver lining

Well sounds like all the rich will be pitching tents nearby very soon. Owning your own freehold property will make you rich beyond belief very shortly.

xxpigxx, Yes do blame Bush & co because they allowed a corrupt situation to reign unchecked and now the half wit has no clue how to fix it so he just says he will leave it alone to correct itself.

That's the dead cat bounce theory...

The theory is that if you drop a dead cat from high enough even that will bounce back.

The problem is that Bush allowed a banking system which could create more money than the assets/equity backing which was actually held on account with the banks.

Banks were freed from the requirement to keep a ratio of funds to lending, by their ability to move liabilities off their books, bundle them up as securities and sell them on to other agencies.

The securities they sold were bad loans. That is what caused the so called sub prime collapse.

Numerous banks have almost no deposit backing for their lendings and that is the problem.

The problem was caused not by people who borrowed easy credit dangled in front of them.

The problem was those who knowingly dangled money which had no real asset backing. Bush and his government allowed banks to effectively print their own money by unconstrained creation of counterfeit credit.

This disaster has been brought to the United States by the greed of corporate America and the Republicans in power who allowed this to happen.



[edit on 16-3-2008 by sy.gunson]

[edit on 16-3-2008 by sy.gunson]

Originally posted by sy.gunson
Leviatano that is a horribly negative signature you have about the world ending in 28 days. Cheer up sunshine. Problems come and eventually they do go or get better. Life goes on.

Its from the movie Donnie Darko I just found that quote to be interesting that's all. Since it was played out well in the movie. . Now that I think about it though, Maybe I should mix up quotes so people don't think I'm a downer perhaps.

reply to post by CyberTruth
I've noticed the big increase in the cost of groceries myself. I shop about twice a month, and the price goes up a dime to tenty cents on practically everything each visit. It won't be too long before people on a tight budgets will have a hard time just buying the bare necessities. You're buying power is less and less everytime you go shopping nowadays..

[edit on 3/16/08 by LLoyd45]

I just did a small amount of research of the Great Depression of the 1930’s. It seemed it effected quite a few nations and when things became desperate that people started believing in desperate solutions. For example the German regime at the time under Hitler and the invasion of China by Japan to start mines in Manchuria to supposedly bring the world out of the economical collapse.

Another worrisome thing is that what actually did spur the economy after the collapse was the mass production of arms throughout America and other war government funded contracts.

If America does go into another similar depression like the one in 1930 I hope we don’t go into another World War. I’m really over all of this war in the Middle East as it is.

Time will tell, I'm not going to get freaky until I see something more concrete, I might be wrong , but I do remember new years eve 1999, all my friends were bunkered down and I was having a drink and watching the ball drop. That doesn't mean nothing will happen now, but if it does, i have a few goats , a few rabbits , a few chickens , a good garden , and a good rifle, not to mention a pretty defensible position as long as a few neighbors don't mind setting up crossfire at the access areas good to go

Originally posted by In nothing we trust

Originally posted by Quantum_Squirrel
ok .. when this group of elitist have destroyed the U.S.A what then ? why destroy your base of operations?

They're all moving to Dubai.

The comming world government will be controlled from there.

It will be ironic when the rising sea levels flood their ritzy globe shaped islands. Dubai is going to have a problem with the behaviours of the elite jet set. Can't see that working out too good.

[edit on 16-3-2008 by stikkinikki]

reply to post by stikkinikki

If Al Gore and his bunch will cease with the hot air , we wont have to worry about the sea levels rising much more than they have

Originally posted by DwnitsDwn
reply to post by stikkinikki

 

If Al Gore and his bunch will cease with the hot air , we wont have to worry about the sea levels rising much more than they have

I am not about to stick my head in the sand on that issue. I like Al Gore and I happen to agree with him on alot of what he has to say, although I have not kept track of everything that he has said.

I would be delighted to find out that the Global Dimming afffect from CO2 particulates was made up and was not artifically cooling off the planet by blocking UV rays.

I would be delighted to find that the polar ice caps and high mountain glaciers are not melting at alarming rates all over the world (except for one).

I would be plenty delighted if my refund checks were already here so I could pay my bills off on time and not wonder where next months mortgage is coming from.

Here's to St. Patrick: may he show up tomorrow to chase the bipedal parasitic snakes out of this world.

I just did a small amount of research of the Great Depression of the 1930’s. It seemed it effected quite a few nations and when things became desperate that people started believing in desperate solutions. For example the German regime at the time under Hitler and the invasion of China by Japan to start mines in Manchuria to supposedly bring the world out of the economical collapse.

The great German hyperinflation was well before the 1929 depression commonly called the 1930s depression.

In Germany it was caused by impossible war reparations payments demanded from the victorious WW1 allies (treaty of Versailles)

In Germany it was so bad that people with wheelbarrows full of cash could not buy bread.

Zimbabwe under Mugabe has the same Hyperinflation right now.

This current crash could unless Bush pulls finger and does something real become every bit as bad as the great depression of 1929.

Yes it did affect the world outside USA, but now because oil is traded in US dollars and everything in commerce is so interconnected, there is a real risk it will drag down all western economies.

Even China is so exposed that it will even affect them.

reply to post by windwaker


I have been in this mode for a few months now, my instincts kicked in after a dream ( I have premonitional dreams, but that's another story) and since then I started stockpiling foods, canned only, we bought lots of seed and have started our garden early, I don't use a bank account (yeah I am one of the little people) after losing several thousand dollars in one, my checkbook was stolen from my mail and they let a person come into the bank and withdraw my money, then continue to write bad checks for 2 years which I got arrested for every time one hit the court, the bank failed to report each time that they were reported stolen, and FDIC did not cover one red penny . Anyway, I don't make enough to save a bunch of cash, but if my dream is correct it wouldn't do you any good to have it. You would be much richer with food. I am a smoker, but am cutting back with intention to quit,so cold turkey won't be something I have to do when we can't just go buy a pack. I think everyone should be gearing up to take care of themselves NOW. We can never say a depression won't happen because it already has once and we are well underway to another. I think most people can feel it coming even if they don't watch the news. I have also been saving silver ever since it shot up before ( what was it, in the late 70's?) I remember selling a ring and getting 400.00 for it, and it only cost like 12 dollars the year before, so I have a large supply of silver products, old rings, coins, a few ingots, borken jewelry, ect. Just waiting for the right moment to sell and go spend the money on supplies.

I was considering running with my own thread on this, but I think it fits nicely here.

I subscribe to the free "Emergency & Wireless Network". Typically my average alert will have something to do with the local weather. On a very rare occasion maybe a terrorist alert. But not today. Today I got this.

U.S. Financial Markets in Turmoil - Federal Reserve holds EMERGENCY Weekend Meeting

FIRST EMERGENCY WEEKEND MEETING IN 30 YEARS

www.emergencyemail.org...

If you still believe that the economy is in good shape and is going to bounce back, you are quite frankly delusional.

I implore you to prepare best you can for an economic crisis the likes of which has never been seen. Consider your families and what best you can do for them in preparation.

Portable wealth is a must. Please heed the warning of those who want to help.

Do not think about it, Do it. Prepare yourself at the bare minimum a supply of food. Get precious metal if you can. Keep the tank filled. and most important of all obtain and retain a firearm.

Those unprepared will have to attempt to feed off those prepared.

God bless you all.





[edit on 17-3-2008 by KMFNWO]

reply to post by DwnitsDwn



I guess "all his bunch" includes all those hot air balloons that awarded him the Nobel Peace Prize?

What a bunch of loonies, huh?

reply to post by KMFNWO


i am in the U.K and i am also stocking up on the tined food.. our government is actually comming on TV here and telling us that the world economy is in trouble .. but britain is well placed to deal with it ...YEAH RIGHT..

I'll keep stocking up ty very much ..just in case

GLOBAL STOCK PLUMMET

Global stocks fell sharply and the dollar tumbled on Monday as a fire sale of Bear Stearns and an emergency Federal Reserve cut of a key lending rate sparked fears that a worldwide credit crisis will claim more casualties.

The dollar hit new lows against the euro and a basket six of major currencies. Oil hit a new high of nearly $112 a barrel on the weaker dollar.

Traders reported that money markets were near standstill with banks increasingly wary of lending to each other.

an so it continues.. wont be long now.. everyone with anything left is pumping it into gold as a backup.. good luck to us all!!

Investing into gold is too late. It's already way too high and it will stop soon around 1100USD. So, you would not win anything with it. Invest into food would be better. Canned ones. Maybe invest into jewels is the second best option.

As I see, it will not take too long to see a mighty collapse. At least I was already prepared for it. So I have nothing to loose.

Market slumps of Bank Worries.

More from BBC regarding the market slump.

Markets from New York to Tokyo have recorded heavy losses in reaction to the emergency bailout of US investment bank Bear Stearns over the weekend.

Investors are worried that the collapse of Bear Stearns, one of Wall Street's biggest names, is a sign that the credit crunch is getting worse and lending might seize up.


US President George Bush attempted to reassure investors on Monday.
"We are in challenging times," Mr Bush said at a press conference.

But he added that the US authorities were "on top of the situation" but "when need be, will act decisively, in a way that continues to bring order to the financial markets."

"In the long run, our economy is going to be fine".

What I'd like to know is, just what does he mean by "when need be, will act decisively?"

What can the US government do that the federal bank isn't already poised to do?

... other than an Atlas Shrugged scenario.

[edit on 17-3-2008 by johnsky]

I was just wondering.. If the economy collapses and we sink into another great depression, who exactly will be accepting gold for payment or exchanging it for usable currency?

I'd think the banks would close their doors like they did in the 30's, the FDIC will not have the funds to backup their gaurantees on anything, and people with gold will be in the same boat as people with valueless US dollars.

Who would be willing to trade valuable commodities like food, medicines or services for it? I guess if they believed things would right themselves quickly they might, but the depression lasted 10 years 1929-1939. What will these people do in the meantime to survive?

Maybe I just don't understand how the buy gold thing works.. Can somebody explain it to me please?