The Greatest Depression of 2009... It is Time

Yeah it's going to get worse but at least it's gone down pretty quick and may bottom out this year or the next. I agree with others about a post Inauguration rally but we are set up for some really abysmal numbers so watch out.

I don't think the USA is going anywhere, I just think a lot of people are buying into fear mongering about Obama. If Obama began rolling back some of Bush's worst policies right away I think people would be more willing to give him a chance. I lived through 8 years of Bush/cheney/condi/rumsfeld etc etc and Obama is different. He is not perfect but he is better than what we are used to. Too bad he gets stuck with the worst handoff ever.

What a mess. How low will she go?

reply to post by stikkinikki


Releasing the rest of the TARP funds and requesting 825+ billion dollars for a "stimulus" package.

Doesn't sound much like change to me. Also increased spending.

There really isn't much difference between them. I don't know how long it is going to take you to realize this.

The Economy will be very volatile the next few months, We'll see what the market does tomorrow before during and after the inauguration.

How low does it go. I wonder if Pady's in Ireland is taking bets on when the market will crash.

This is an old video, not new information. This show aired October 6th 2008.

www.msnbc.msn.com...

Originally posted by Hastobemoretolife
reply to post by stikkinikki

 

Releasing the rest of the TARP funds and requesting 825+ billion dollars for a "stimulus" package.

Doesn't sound much like change to me. Also increased spending.

There really isn't much difference between them. I don't know how long it is going to take you to realize this.

The Economy will be very volatile the next few months, We'll see what the market does tomorrow before during and after the inauguration.

How low does it go. I wonder if Pady's in Ireland is taking bets on when the market will crash.

Great to see someone else on this forum is on the same wavelength as me in terms of seeing his policies of over spending as the eventual destroyer.

And the bookies would defintely make enough money because all those ignorant people out there won't take off the blindfold

reply to post by Portugoal

"The economy is going to hell and we can all see it coming. Lift the blindfolds"

My apologies if most ppl have already seen me post this, but I really
want ppl to know how much worse it is than they are telling you.

&print=true&dist=pr intTop]100's of trillions in derivates set to fall

The mainstream alludes to what could happen, they don't explain why.

This guys does:

100's of trillions powder keg set to blow

For those who have read this already, skip this, for those who have not
here it is for you all to read and consider.

They took their bad debt, and used creative accounting like Enron
did with their 700+ shell corps in the Caymans, and transferred it
to a thing called a derivative on the OTC market.

The OTC market is unregulated and unlisted, thus no SEC over sight.

And bingo, their books look good and so their stock is not really
what it appears to be and it is all smoke and mirrors.

How many companies got involved in thise shell game is unknown.

But as I am sure you have heard of Madoff you see the game.

The old switch-a-roo is alive and well, and the pensions and retirement
accounts are about to go up in smoke.

This will be the largest theft in the history of the planet.

Good Luck to you all !

Originally posted by amatrine
California is broke. They will give them California

They already gave the port of Long Beach to Cosco, guess they
can just expand from there.

reply to post by Portugoal


Most def.

All his other policies are going to run into major republican road blocks when it comes to legislating most of his other policies he wants to enact.

Pelosi rewriting the house rules to cut out the republicans from making any legislative changes is really shooting the dems in the foot.

Another thing is that Obama's greatest enemy isn't the republicans it's his own party.

Spending is going to be the death of us There really isn't another country on earth that could invade us with all the gun owners in the country, besides I think a lot of them have an itchy trigger finger with everything that is going on.

On the other hand the unemployment rate that they say we are at now isn't anything new Bush I was at the same level, Regan was at the same level.

The only thing that is certain though is the fact that if the gov't doesn't stop spending then we are screwed.

Originally posted by Angry Potato
Don't worry, we all deserve it.

The ppl that are not in debt to the gills do not deserve it.

I live a meager life, and have no debt.

My junk house and junk cars are paid for.

Why should I work hard to pay for slackers to live large ?

Thus I have decided to work part time and pay as little as possible.

I will not bail out millionaires, I will not bail out ppl who will not
work and want hand outs.

I will not bail out companies that have sucked billions out of the
american ppl and shipped most of their jobs overseas.

I will not pay corporate welfare for for suits that attend million
dollar parties.

I am going to live on a small enough amount so that I don't pay
anymore to these thieving bastards, and work part time to get
in under the minimum deduction.

This is my boycott of the evil they are doing to those who built
this country from the ground up.

I served my time in the military as did my father and his father
before him so do not question my patriotism or some other lame
excuse for thinking they need their hand in my wallet.

The only ppl that deserve this coming mess are the lazy and
the corrupt bastards that caused it.

The robber barons ride again.

I'm an avid Jim Cramer fan and this man knows his stuff. He's been wrong on a few small occassions but he nails the stuff that really matters. Just as Cramer I would advise everyone to take out their stock if they have any. Many people are saying 2009 will be bad and then bottom out come Q1 of 2010. Hopefully this is the case, however we could be in for the long haul.

I think everyone saying to stock up on neccessities and acting like China will be the new superpower overnight need to relax a little. Don't get me wrong this recession is going to get bad and feel worse to us than it did back in the Great Depression. Only because so many people have luxury goods that they don't really need and then they will start to complain when they can't get them anymore. These kind of people will say they are poor, but the ones who were already poor are the ones I feel sorry for.

The end won't be near, America won't fade away, and China won't be the next superpower (just yet). Of course problems aren't going to be fixed overnight and it will get a lot worse before it gets better. I just can't believe all the Obama bashing already when he hasn't even been sworn in yet. I know people are fed up with the last administration, but give Obama chance.

Be skeptical. But also have an open mind.

Change We can Believe In

Just had to get that in there

i agree with the OP .....here's some usual drivel from me (But first a good link on why "why we are so afraid to fix banks the right way"

clusterstock.alleyinsider.com... (hint because some big wigs w/ political connections in washington would take big hits as preferred equity & debt holders as part of the fix

now to my drivel;

I believe Obama's charisma and hope generating speeches will be beneficial to quell the rising social unrest that america will experience over the next couple years.

I agree with some posters that for all that he is portrayed as....he is still a politician in a corrupt game that is bigger than him.

There appears to be a rising threat of a severe global recession at minimum by the spring.......and possibly a wide spread depression.......lead by destruction of demand for goods in america and falling asset prices and basically insolvent banks....even state's with huge issues...take California for example....they are issuing IOU's because they can't pay people their tax refunds and such.....poor people that can't meet their basic needs.......become desperate.....desperate people break the law to meet their basic needs. The unemployment picture is getting worse by the week.....unemployment measured ( read U6 in unemployment date at gov sites) is in the TEENS! U6 was the formula used to report unemployment before the definitions were changed by the reagan and clinton administrations.....so the unemployment area is much worse than widely reported........Obama's plan takes TIME to create jobs......look at history as a guide as far as how long Economy's are "successful" when they have FIAT money (not backed by gold and silver)........27 years and counting is a record.......(since nixon took us off a semblance of a gold standard) .......gov't bonds will eventually tank when the demand destruction reaches beyond basic consumer consumption and into gov't treasury bond auctions....then the fed will print the money to buy the bond's....(as other country's will do as well) .and all currency's will fall at various speeds against GOLD!!! when money moves from the gov't treasury market (trillions more than the stock market) into a smaller MKT (gold) watch what happens to the price.

Right now there is a preservation mechanism that i believe is going on within the wealthy class.....the class with the most leverage and influence in the judiciary branch....this is also known as CLASS WARFARE....They are trying desperately to maintain there wealth and they are bleeding the tax payers dry.......I think we are facing the potential as Michael hudson (historican....economist says)

"You have to realize that what they’re (the fed reserve/elite class) trying to do is to roll back the Enlightenment, roll back the moral philosophy and social values of classical political economy and its culmination in Progressive Era legislation, as well as the New Deal institutions. They’re not trying to make the economy more equal, and they’re not trying to share power. Their greed is (as Aristotle noted) infinite. So what you find to be a violation of traditional values is a re-assertion of pre-industrial, feudal values. The economy is being set back on the road to debt peonage. The Road to Serfdom is not government sponsorship of economic progress and rising living standards; it’s the dismantling of government, the dissolution of regulatory agencies, to create a new feudal-type elite.

now i don't think they are evil in doing this...per se...it's just that debt based economy's depending on fraction reserve central bank lending are not that sustainable and when they teeter on the brink from PEAK DEBT....human nature and history dictates that the upper class try's to sustain there wealth AND POWER and usually this is at the expense of the middle and lower classes and can result in lower standards of living, less freedoms, and World regulatory bodies.......like the Bilderberg/Trilateral organization have been anticipating for decades.

[edit on 20-1-2009 by cpdaman]

reply to post by Agit8dChop


Here is Wall Street's answer to that:

Stocks tumble on fresh worries about banks: Wall Street tumbles on concerns about banking sector; bank shares plunge; Dow falls 332



[edit on 20-1-2009 by loam]

I'm not going to call you a pessimist. A lot of things you have been saying are true. I would never have known about most of these things if it weren't for this site. A big thank you from me!!

Originally posted by withpride09
I'm not going to call you a pessimist. A lot of things you have been saying are true. I would never have known about most of these things if it weren't for this site. A big thank you from me!!

I just posted that disclaimer because there are always those who are too ignorant to realize what is happening and is going to happen in REALITY, not some Obamaville where everything is sweet and smells like roses.

The problem with Obama is, if he's not spending, people will say he's not doing anything so why did we elect him again. And the country will probably still go to (the dumps ). When he does spend, the country will go to...(the dumps).

It's a lose, lose situation but Obama's policies are going to make the American economy worthless on the international stage That is of course if the country remains intact after all the riots.

Am I really the only one that can't picture the Red Army on my door step? Seriously; I mean...personally and many others I know, just because the government screwed it up doesn't mean were just going to sit by and let it slap us around, same goes for the so-called 'elite'.

While I agree the worlds about to enter a # storm; I'm about as worried as...I was yesterday. Whatever the goods may be that we won't have available, I don't see one country invading another in this day in age. And if for some reason, someone thought that it was something to do.

I personally know many NRA members, with life long love of the outdoors and chemists, as well as Anarchysts as well as my own fascination with the Molotov cocktail. In the end, the U.S. government may have failed the people, but the people won't fail their Country. Oh and by the way I'm a Citizen, who was originally an Immigrant and who is very successfull in the corporate world. Just because we are 'comfortable' doesn't mean we won't turn to arms and fight to take back what was almost lost.

As far as the debt that is owed to China, 'Tough'. The same thing that Europe told the U.S. when they didn't pay back their rebuilding debt, my history may be wrong and if it is someone correct me but I believe the debts are still outstanding. Just because we are down doesn't mean another Country has the right to take advantage of that and try to overtake a people who are supposed to be 'Trade partners'.

The U.S. will Rebuild; all the debts will be paid but all in their good time and we'll come out of it stronger and closer. I'm not a mind reader but I do know what I've seen with my own eyes and what the American people can build is beyond what a 'few' can destroy. Mark my words.

reply to post by Riviera


Very optimistic

I'd just like to remind you that invasion in this day and age is very very very possible (See Afghanistan, Iraq, Lebanon, Georgia). It definetly can happen.

And I'm definitely not saying invasion is in the cards but I do believe that America is going to fall...hard. If you realize to which degree I think the depression will go, you'd understand why I say that America is not going to be a superpower again, ever. And I highly doubt that if America were to collapse, the people alone (I'm guessing a militia deal with hunting rifles) won't be able to stop any real power from invading (once again before I get flamed I'm not saying it's going to happen but it's possible).

Come on!
The first thing that absolutely has to be done tomorrow is for Obama to end the business tax breaks for shipping American jobs overseas and begin rebuilding the U.S. manufacturing base. Without that happening we have zero chance of stabilizing the economy. It plain and simple. End the economic suicide attempt tomorrow.
Public works are nice but you can't rebuild an economy expanding government employment.

In his speech today he said that he will spend wisely and in the light of day. We shall see.

Originally posted by Portugoal

Originally posted by downtown436
reply to post by Agit8dChop

 

That is my thought exactly. Next week after we see a little Obamic rally, I'm going to short the Dow, DXD, and I'm going to short the financials, SKF.

I see a bumpy ride over the next several years, but within the next 4-12 weeks we will see economic turmoil, and devastation never before seen by modern man.

We should probably throw a huge party to Inagaurate the beginning of the End for America at this time

See you all there

Come prepared though the crowd may not be as delusional or happy as they will be tomorrow

Keep on laughing it up at our expense Mr. Toronto.

If you honestly believe that your nation is safe from this disaster you are sadly and horribly naive and mistaken.

I hate to be the one to break it to you...but this is a world wide down turn, and no country is going to escape without taking a beating. That includes Canada.

[edit on 1/20/09 by BlackOps719]

Originally posted by BlackOps719


Keep on laughing it up at our expense Mr. Toronto.

If you honestly believe that your nation is safe from this disaster you are sadly and horribly naive and mistaken.

I hate to be the one to break it to you...but this is a world wide down turn, and no country is going to escape without taking a beating. That includes Canada.

[edit on 1/20/09 by BlackOps719]

HAHA

If you read the entire thread you would know that I realize that the world is going to go through a huge depression as well and Canada, being an economic power in the world and not just America's baby sister, is going to be hurt as much as the next guy and possibly more since we depend on America so much.

The fact of the matter remains that America's economy is in shambles whereas Canada has the best banking system in the world (but you wouldn't know that because ignorant Americans don't know a thing about Canada and do not care). I just think it's going to be a very ironic time when America begins to collapse while the younger sister lives on, being the quiet, friendly economic power it has always been.

The people of my country aren't safe. I realize that. But we are much better prepared for what's coming. And on top of that, we have a Parliament here, not one ruler that can make decisions. Heck, even our Prime Minister isn't the Head of Government. To make such decisions on spending and taxes in Canada (with a minority government- which it will be for the foreseeable future) would require a majority vote in Parliament and the Parties are at eachothers throats and will strike everything down.

Therefore our inaction will probably help us.

reply to post by Portugoal




We shall see. Hopefully you are right


Nothing wrong with a healthy sense of optimism, even if the house is burning down around you.

(BTW thanks for that ignorant American jab...I can never hear that one enough times


Stay classy

[edit on 1/20/09 by BlackOps719]