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Originally posted by Battleline
I read all the posts and you are all very smart it would seem,at least as fare as you all are concerened,but where are the solutions?
What good is knowing whats going to happen if you just become a part of it and have no idea what to do once it happens?
I believe that there is an end-game in play.
... there is going to be a major debt crisis.
With the cost of living going up, and interest rates preventing borrowing, cash strapped consumers cease to buy big ticket items. As the crisis deepens there will be massive defaults and bankruptcies leading to a banking crisis.
...
Nothing will be solved until we hit the wall (peak oil, climate change, collapse of economic system etc.).
The only thing to do is prepare yourself mentally for the outcome. Move beyond fear and towards acceptance/preparation.
Right now the economy is a revved up sports car heading for a brick wall, and the passengers are arguing about which radio station to listen to.
Heads up! There's trouble ahead. Get out of DEBT as FAST as you can!
No matter how liquid your assets are if you are over leveraged you will go bankrupt when the tide turns negative. Derivatives traders are about to learn that lesson all over again.
...
The next step will be the FED buying up all the bad loans in order to "save" us.
The end effect will be a good chunk of the nation's real estate wealth ending up in the hands of the cartel. Economic serfdom has such a nice ring to it doesn't it?
...
When the central bank cartel wants to cause (yes I said cause) a recession, they tighten credit. Refusing to lend to each other or to "mom and pop" shops has a clear consequence known to all. Whatever pathetic excuse they use to justify the contraction of lending activity, I submit "they" know full well what they are doing.
Originally posted by dreamingtree
I'm sorry, but ANYONE who wanted to do their research could have seen this coming. ANYONE. You make it sound like the economy only goes into recession once every 100 years. We were in recession in 2001, the 80's/early 90's, part of the 70's and so on. Go look at graphs of our economy and how it works. You will see a trend. Sure maybe recession now is much worse than it was in 2001, but still you guys make it sound like this should not be happening.
Originally posted by Battleline
I read all the posts and you are all very smart it would seem,at least as fare as you all are concerened,but where are the solutions?
Our economy is healthy and vigorous, and growing faster than other major industrialized nations.
The foundation of our economy is solid, and it's strong.
As a participant in financial markets for more than 30 years, I say with confidence that over the last couple of years, the world economy has been stronger than I have ever seen it.
The U.S. economy is fundamentally strong, diverse and resilient...
Much necessary economic and financial adjustment has already taken place, and monetary and fiscal policies are in train [sic] that should support a return to growth in the second half of this year and next year.
Originally posted by LowLevelMason
Snip/ Has there ever been a time when it wasn't being predicted? Like a broken clock, if you predict something long enough YOU WILL BE CORRECT eventually.
Originally posted by LowLevelMason
This has got to be the funniest thread on ATS. ATS members have been declaring the next recession/depression forever. Has there ever been a time when it wasn't being predicted? Like a broken clock, if you predict something long enough YOU WILL BE CORRECT eventually. ATS members remind me of Peter Schiff. Schiff's clients have lost tons of money over the years because the man has predicted utter economic catastrophes since the 1980s. Over the last year they have FINALLY made some money because he finally got it right. Everyone ignores that he was consistently wrong before and focuses only on the fact that he got something right recently, as if this erased the past 20 years of completely wrong predictions
If I predict that the economy will go up every day from now until it happens - and it will happen eventually - will I also be worshipped for my utter brilliance?
By the way, I notice how everyone is ignoring all the posts I found when I looked this up on "$200 oil" and $2,000" gold. How convenient
[edit on 2-12-2008 by LowLevelMason]
www.abovetopsecret.com...
People watch the price of Gold, Silver, palladium rise now in response to this...infact if I was looking for an investment over the next ten years, it would be these items
www.abovetopsecret.com...
TRUST ME AS I PROVED IT 3 YEARS AGO OIL WILL BE AT OVER $200 DOLLARS A BARREL WITHIN 3 MONTHS IF NOT BY JAN 09 AT THE LATEST.
Originally posted by LowLevelMason
reply to post by MischeviousElf
On dear, its the MicheviousTroll again. You have, as usual, utterly failed to answer the question: when has some horrible economic event not been predicted by the majority of ATS members?
Predicting that things will be horrible 100% of the time does not make you a prophet, it makes you a consistent pessimist. Oh goody, you predicted things would be horrible in 2005 - and we went through 2 years of things being just fine - what good is your prediction then? Its worthless without dates, and so far things have been fine for a longer period than they have been bad.
If someone on ATS predicted "Starting in December of 2007 we will have a recession which will last through 2008" - then they deserve accolades. However, instead what we have is a bunch of people predicting economic depressions, catastrophes, disasters, and everything else every month of every year since ATS has been in existence. We've seen people predicting $200 and $300 barrels of oils and $2000, $2,500 gold. Given that this is a recession, and so far its not even close to being global, they have been quite wrong. And the people predicting the commodities were 100% wrong.
But I'll let you continue to congratulate yourself if it makes you feel better. ATS is showing yet again how wrong it is. I don't have to do anything but sit back and laugh. Food riots, $200 oil, $2,000 gold, economic depressions, wars...were all predicted. What did we get? A recession in the US and a few other countries. Right on target!
[edit on 2-12-2008 by LowLevelMason]
There was a chart i saw that showed the amount of excess reserves banks have rose from 2 billion in early september to 600 billion now, yet the big banks are not lending it out. They don't trust the ability of the corporations or the borrowers to pay it back, plus they know more write downs are coming. This unwillingness for banks to lend even when the fed creates alot of new "money" for them to do so.......sort of STOPS Inflationary fears for the short term. On the flip side, Thankfully lots of the smaller regional banks are still lending at a healthy clip.
It's true value is actually more along the lines of $40-$45 a barrel.
Originally posted by Battleline
I read all the posts and you are all very smart it would seem,at least as fare as you all are concerened,but where are the solutions?
What good is knowing whats going to happen if you just become a part of it and have no idea what to do once it happens?
Originally posted by mybigunit
reply to post by Rockpuck
That was the point of my very first thread that I posted on ATS. The heading is "Economy Sinking and Government Lying About It" People called me a liar for calling the government a liar. Our government lies. I do not trust the crooks in Washington.