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-   -   6/13/07 - The Great Depression II has officially begun... (https://greekchat.com/gcforums/showthread.php?t=87998)

KAPital PHINUst 06-19-2007 09:22 AM
6/13/07 - The Great Depression II has officially begun...
 
...at least according to the Washington Post.

I have been watching for this historic moment since late '05/early '06 and I knew that this moment has been due for a long time coming: Brief article abstract as follows:

Quote:
by Richard C. Cook
Quote:
Global Research, June 14, 2007

It’s official. Mark your calendars. The crash of the U.S. economy has begun. It was announced the morning of Wednesday, June 13, 2007, by economic writers Steven Pearlstein and Robert Samuelson in the pages of the Washington Post, one of the foremost house organs of the U.S. monetary elite.

Pearlstein’s column was titled, “The Takeover Boom, About to Go Bust” and concerned the extraordinary amount of debt vs. operating profits of companies currently subject to leveraged buyouts.

In language remarkably alarmist for the usually ultra-bland pages of the Post, Pearlstein wrote, “It is impossible to predict when the magic moment will be reached and everyone finally realizes that the prices being paid for these companies, and the debt taken on to support the acquisitions, are unsustainable. When that happens, it won't be pretty. Across the board, stock prices and company valuations will fall. Banks will announce painful write-offs, some hedge funds will close their doors, and private-equity funds will report disappointing returns. Some companies will be forced into bankruptcy or restructuring.”
In laymen's terms:

"HEY [UNCLE] SAM! YOUR DEBT IS DUE, MUTHA[LOVER]!!

Rest of the article here

Still BLUTANG 06-19-2007 10:36 AM
as long as i don't see people jumping out of windows, i'll be o.k.

KAPital PHINUst 06-25-2007 06:47 PM
Quote:
Originally Posted by Still BLUTANG (Post 1469286)
as long as i don't see people jumping out of windows, i'll be o.k.
You might see just that before it's all over.

Another article about the Great Depression II (coincidence? I don't think so...)

Quote:

BIS warns of Great Depression dangers from credit spree

By Ambrose Evans-Pritchard

Last Updated: 9:02am BST 25/06/2007





The Bank for International Settlements, the world's most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.

Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and southeast Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a 'new era' had arrived", said the bank.

The BIS, the ultimate bank of central bankers, pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system.
"Behind each set of concerns lurks the common factor of highly accommodating financial conditions. Tail events affecting the global economy might at some point have much higher costs than is commonly supposed," it said.

The BIS said China may have repeated the disastrous errors made by Japan in the 1980s when Tokyo let rip with excess liquidity.
Rest of link here

KAPital PHINUst 06-25-2007 06:53 PM
Is the Malthusian catastrophe upon us? Will we soon be eating SOYLENT GREEN?
 
Quote:
The fight for the world's food

Population is growing. Supply is falling. Prices are rising. What will be the cost to the planet's poorest?

By Daniel Howden

Published: 23 June 2007



Most people in Britain won't have noticed. On the supermarket shelves the signs are still subtle. But the onset of a major change will be sitting in front of many people this morning in their breakfast bowl. The price of cereals in this country has jumped by 12 per cent in the past year. And the cost of milk on the global market has leapt by nearly 60 per cent. In short we may be reaching the end of cheap food.
Rest of link here

teena 06-26-2007 09:57 AM
off topic

i no likey your signature. I get it..i dont like it

DC_Zeta1920 06-26-2007 10:41 AM
Interesting read.....

KAPital PHINUst 06-26-2007 05:58 PM
Another economist/author discussing the Great Depression II
 
I stumbled across a blog of an author from Amazon.com who wrote a book on the back-then upcoming Great Depression II back in 2004 and his blogs give occasional updates on the accuracy of his predicting the Great Depression II. In short, his predictions from his book have been very much on point to date.

See, I am pulling data from a plethora of sources, so no once can say I am making this stuff up.

Quote:
Warren Brussee's Blog
Mid-June, 2007, Update of “The Second Great Depression”
12:30 PM PDT, June 17, 2007


Many people have requested that I do my updates more than once per month. Although I was hesitant to do this because so much government data is monthly, I will try this for a while to see how it goes. Also, thanks for all the positive feedback. I only asked for a yes/no reply, but many people took the time to write a more detailed response. This has influenced my decision to try a bimonthly update.

First, I believe that a very important economic change happened last week, which was bond yields increasing to a 5-year high. More important than the increase was the cause. The Chinese have begun to sell their Treasury Securities, and they have reduced their Treasury Security purchases. Since they hold over 400 billion dollars worth, if this continues they will put huge pressure on the US. Since we NEED other countries’ money to keep financing our deficit, we are forced to pay whatever is needed to borrow these funds. (Page 52 in my book.) Cheney might find out that deficits DO matter!

The second thing of importance is that gas inventories are low and refinery utilization (page 39 in my book) is down. Even without a severe hurricane (which is not unlikely), gas shortages are likely this summer.

The third thing of importance is inflation; NOT core inflation, but the 0.7% increase in total inflation in May. The average for the last three months, on an annual basis, is 7%. Note that these numbers are not hidden. It is just that the government, press, and investors have chosen to only look at core inflation, which was only 0.1%. But the consumer is affected by the 7% total inflation, and so is the economy (Page 67 in my book).
If China cashes in our trillion dollar debt (which they have been doing as of recently), between all the other events transpiring, it's game over for our economy--the US will drop from a 1st world to a 3rd world nation almost overnight.

Rest of link here

KAPital PHINUst 06-30-2007 04:50 PM
US Banking Collapse ‘Imminent’ Warns French Banking Giant
 
Americans are soooooo asleep at the wheel. If we don't act now, we can't say we didn't know it was going to happen:

Quote:
US Banking Collapse ‘Imminent’ Warns French Banking Giant
By: Sorcha Faal, and as reported to her Western Subscribers
French banking giant Société Générale Group, through its subsidiary SG CIB, the 3rd largest corporate and investment bank in the Euro zone, has warned today in a confidential report that the American banking system is in danger of ‘imminent collapse’ due to the hedge fund failures at US banking giant Bear Stearns, a fear that is also being voiced in America, and as we can read as reported by the New York Times News Service:

"The two big Bear Stearns hedge funds that neared collapse last week were full of tricky investments tied to subprime mortgages. To try to ensure that hundreds of billions of dollars worth of similar investments don’t also plummet, endangering the financial system, Congress may finally have to do more to help lower-end borrowers. That, in turn, would prop up the investments based on their mortgages."

Though the United States Securities and Exchange Commission has opened an ‘informal’ investigation into the collapse of the Bear Stearns hedge funds, SG CIB warns in their report that a ‘series of cascading events’ leading to the ‘insolvency’ of the American banking system is now being ‘unleashed’, and as confirmed by Britain’s Telegraph News Service:


Rest of link (with lots of other links within) here

Jody 07-06-2007 08:25 PM
I don't know what expertise a frenchman (coming from an economy that has almost a 70% governmental tax rate) has regardubg a capatalistic monetary system...

I personally think it's thei backhanded way of inferring that the war is wrecking havoc on our economy...

KAPital PHINUst 08-17-2007 12:51 PM
With the shutdown of several major hedge funds, and the closing of American Home Mortgage (and now the possibility of Countrywide Home Mortgage shutting down as well), the economic outlook does not look good at all. Add to that the central banks of many countries (U.S., Canada, the EU, Japan, and Australia, to name a few) pumping in billions of dollars/euros/yen into their local markets each and every day to keep the economy afloat only compounds this.

Here is an eye-opening article:

Quote:

Economic Expert: We Are Already In An Engineered Recession
50% chance there is going to be a 1929 style economic depression as pretext for regionalization, globalist interests
Steve WatsonInfowars.net
August 15, 2007


Alex Jones was joined on air yesterday by investigative journalist, economic expert and Harvard Doctor of Political Science Jerome Corsi for an in depth discussion on the state of the economy and the engineered decline towards regionalization and a globalized monetary system.
Corsi warned that the crisis in the stock market we are currently witnessing is simply the tip of the iceberg and part of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.

“We’re gonna go through Stagflation, which is basically stagnation and inflation. We are already in a recession, it just hasn’t been publicly declared yet. I think it will deepen through the rest of 2007 into 2008. Corsi stated.

“It’s going to last several years, it’s largely because we’ve lost so much of the manufacturing to China, even when our currency tanks, there are no exports we are producing anymore that will gain. The currency is gone, it is being sold off very quietly, worldwide, by the oil producing states, by China, the Euro is increasingly becoming our foreign exchange reserve currency.

The primary indices of inflation have been taken out of the indexes, food is not in and neither is energy prices. These two are going up hugely right now and are going to continue to go up.”



Corsi warned that this is going to be the formula for producing the Amero, a continental solution to the tanking of the Dollar.

Listen to the entire eye opening interview here.


Link to rest of article here

KAPital PHINUst 10-28-2007 11:32 PM
Quote:
Originally Posted by Still BLUTANG (Post 1469286)
as long as i don't see people jumping out of windows, i'll be o.k.
While this article doesn't exactly involved someone jumping out of a window, its net effect is still the same. I just hope that it doesn't trigger a domino effect for others in the months ahead.

Quote:
Lengthy SWAT Standoff Over Foreclosure Ends in Suicide
Published on Saturday, October 27, 2007.

A 12-hour standoff ended this morning with a north Houston man lobbing Molotov cocktails at Houston Police before taking his own life rather than vacate a home he'd lost to foreclosure.
James Hahn, a chemist, had told police he would not be taken from the home alive, said Capt. Bruce Williams, an HPD spokesman.
" 'You know what I do for a living and you know what I am capable of,' " said Williams, recalling one of the conversations police had with the man on Wednesday.
Rest of article here

KAPital PHINUst 09-15-2008 05:47 PM
Bump for the acquisition of Fannie Mae and Freddie Mac by the federal government,the bankruptcy of Lehman Brothers and the sale of Merrill Lynch to BoA, and the possible future fate of AIG.

You heard it here first.

Honeykiss1974 09-15-2008 06:45 PM
I'm not surprised at all.

Not to mention that the Bible tells of this....yeah, I went there. lol

Tin foil hat with matching vest. :)

AlphaFrog 09-15-2008 06:53 PM
You predict something long enough, and eventually it will come true.

I predict that one day cars will fly. Can I come back and quote this post when it happens and say told ya so??

KAPital PHINUst 09-15-2008 09:28 PM
Quote:
Originally Posted by AlphaFrog (Post 1718247)
I predict that one day cars will fly.
Your prediction is actually 70 years too late. It has already been done, thanks to Glenn Curtiss' aviation protege Waldo Waterman, whose flying car the Waterman Aerobile successfully took flight in 1937. Subsequently, several other flying cars came into existence including the most successful to date, the 1949 Aerocar, which is still flying to this day.

(dang, after 20 years, that ROTC Aviation History class I took in high school have finally paid off). :p

Quote:
Can I come back and quote this post when it happens and say told ya so??
*shrugs* Do you.

mccoyred 09-16-2008 02:01 PM
"The fundamentals of our economy are strong." John S McCain

AlphaFrog 10-05-2008 12:24 PM
Quote:
Originally Posted by KAPital PHINUst (Post 1718319)
Your prediction is actually 70 years too late. It has already been done, thanks to Glenn Curtiss' aviation protege Waldo Waterman, whose flying car the Waterman Aerobile successfully took flight in 1937. Subsequently, several other flying cars came into existence including the most successful to date, the 1949 Aerocar, which is still flying to this day.

(dang, after 20 years, that ROTC Aviation History class I took in high school have finally paid off). :p



*shrugs* Do you.
Forest for the trees, dude.

mccoyred 10-05-2008 09:51 PM
Folks fell for the okeydoke in 2000 and 2004, I PRAY that the time has finally come for people to WAKE UP! The country needs a steady, mature hand to guide it through these tough and tumultuous times and not some hot-headed erratic maniac with his finger on the button and his head in the sand backed up by some power hungry nutjob who can't wait for him to kick the bucket.


Obama-Biden '08

BlessedOne04 10-05-2008 11:40 PM
Quote:
Originally Posted by mccoyred (Post 1718656)
"The fundamentals of our economy are strong." John S McCain
ROTFL!!!!! :D

cheerfulgreek 10-05-2008 11:47 PM
Quote:
Originally Posted by mccoyred (Post 1718656)
"The fundamentals of our economy are strong." John S McCain
lol I know, tell me about it. If he wins this election, I'm moving to another country.

KAPital PHINUst 10-07-2008 09:05 PM
Quote:
Originally Posted by mccoyred (Post 1727526)
The country needs a steady, mature hand to guide it through these tough and tumultuous times...
We had a candidate who met this criteria perfectly. Unfortunately, Americans fell for the "okey doke" and decided to treat their ballots like bet slips by allowing their perceived sense of probability of a candidate winning supercede whether or not they felt that candidate was the most qualified for the position.

christiangirl 10-07-2008 11:39 PM
Quote:
Originally Posted by cheerfulgreek (Post 1727572)
lol I know, tell me about it. If he wins this election, I'm moving to another country.
I said this four years ago, but thought I might miss my family too much. I do, however, know someone who actually transfered to the University of Toronto. She totally followed through on the threat.

TotallyWicked 10-08-2008 01:39 PM
am i the only one perturbed at bush's comments about believing that the economy will bounce back?

"those who do not believe that we will eventually get back on our feet, don't believe in the American spirit"

muhfugga I'm worried 'bout my money! I don't really have time to believe right about now!

srmom 10-08-2008 02:01 PM
Well you better, cuz there isn't anything else to do at this point. And, the economy WILL bounce back, history has shown that to be the case over and over again.

Just keep putting one foot in front of the other, doing the best job you can (while trying to cut down expenses and debt load). Sitting around bitching won't change anything, it will just be uselessly spent energy.

mccoyred 02-08-2009 01:09 PM
As the debate over the stimulus package rages, take a look at how the new head of the RNC is reacting. http://www.huffingtonpost.com/2009/0..._n_164991.html This is a sad commentary on a bankrupt philosophy....

KAPital PHINUst 05-22-2010 08:31 PM
Total collapse imminent by end of 2010
 
Last update (from me, anyway):

I leave you with this article from 24 different sources warning of total economic collapse by end of 2010; I don't think they can all be wrong.

Personally, I hold economic expert Gerald Celente in high regard as his predictions have a shockingly high accuracy, and has been doing this for 30 years: www.trendsresearch.com.

I will not get into a debate or pissing match, you will either accept it or reject it; the consequences of which will ultimately be on you.

There are quite a few things I need to do to prep for this, and there isn't much time left, so with that said, I bid you farewell, and may God bless you in your future endeavors.

To the Kappas: YO NUPE, and Phi V.

Take care.

DrPhil 05-22-2010 08:35 PM
Quote:
Originally Posted by KAPital PHINUst (Post 1932929)
Last update (from me, anyway):


I will not get into a debate or pissing match, you will either accept it or reject it; the consequences of which will ultimately be on you.

There are quite a few things I need to do to prep for this, and there isn't much time left, so with that said, I bid you farewell, and may God bless you in your future endeavors.

To the Kappas: YO NUPE, and Phi V.

Take care.
uh...ok...thanks for announcing whatever you're announcing in a dormant thread.....

Drolefille 05-22-2010 08:45 PM
It's theeeee End of the World as We Know It!

And I feel fine!

ETA: When the world doesn't collapse will he come back again in a year?

RU OX Alum 05-22-2010 08:50 PM
Quote:
Originally Posted by Drolefille (Post 1932931)
It's theeeee End of the World as We Know It!

And I feel fine!

ETA: When the world doesn't collapse will he come back again in a year?
I was listening to this song earlier. For realsies.

BluPhire 05-22-2010 09:37 PM
Quote:
I will not get into a debate or pissing match, you will either accept it or reject it; the consequences of which will ultimately be on you.

There are quite a few things I need to do to prep for this, and there isn't much time left, so with that said, I bid you farewell, and may God bless you in your future endeavors.
Don't want to get into a debate or pissing match yet you post this? In other words you like being the center of attention.

Also the jokes on you. If this is truly a global collapse like they say it is, there isn't any prepping you can do. Just live your life man.

DrPhil 05-22-2010 09:39 PM
Quote:
Originally Posted by BluPhire (Post 1932949)
In other words you like being the center of attention.
All hail to the GCers who see the humor of this statement. :) This is not a reference to you, BluPhire.

Drolefille 05-22-2010 09:48 PM
He didn't even post an article. :(

KAPital PHINUst 05-23-2010 12:27 AM
Quote:
Originally Posted by Drolefille (Post 1932954)
He didn't even post an article. :(
http://www.morningliberty.com/2010/0...2010-meltdown/

Drolefille 05-23-2010 12:37 AM
Quote:
Originally Posted by KAPital PHINUst (Post 1933009)
WHOA WHOA WHOA, how do you have time to come back here?

Shouldn't you be preparing for doomsday?

(also, find a better source than a radio talk show host)

NiaX 05-23-2010 02:55 AM
Quote:
Originally Posted by Drolefille (Post 1932931)
It's theeeee End of the World as We Know It!

And I feel fine!

ETA: When the world doesn't collapse will he come back again in a year?
if my senior prom ('98) didn't have this as a theme I wouldn't have known it was a song...

Now what was the point of him coming in to post and revive an old thread?

Drolefille 05-23-2010 11:05 AM
Quote:
Originally Posted by NiaX (Post 1933031)
if my senior prom ('98) didn't have this as a theme I wouldn't have known it was a song...

Now what was the point of him coming in to post and revive an old thread?
Warning us all of the end times?

And really? Anytime someone says "End of the World" my brain trips onto the song involuntarily.

RU OX Alum 05-23-2010 04:54 PM
Point?

mccoyred 05-24-2010 01:10 AM
Quote:
Originally Posted by KAPital PHINUst (Post 1933009)
This crap has no links to ANY sources, just words on a screen.

BTW, what's with some of these topic areas on this site like:

Barry Soetero
child abuse
illegal aliens
satan worship
UFOs
vatican

Sorry, but this site is wwaayyy short of being even remotely credible.

KAPital PHINUst 05-24-2010 04:04 AM
Quote:
Originally Posted by mccoyred (Post 1933486)
This crap has no links to ANY sources, just words on a screen.
http://doctorbulldog.wordpress.com/2...pse-this-year/

(links included)

Drolefille 05-24-2010 01:34 PM
Quote:
Originally Posted by mccoyred (Post 1933486)
This crap has no links to ANY sources, just words on a screen.

BTW, what's with some of these topic areas on this site like:

Barry Soetero
child abuse
illegal aliens
satan worship
UFOs
vatican

Sorry, but this site is wwaayyy short of being even remotely credible.
Barack Obama was adopted and became Barry Soetero after child abuse by illegal aliens (from UFOS!). These aliens worshiped satan from the vatican.


Also LOL at the next link, even they put experts in quotes.

And they're nothing but Nostradamus style predictions. "July onwards, things get strange, Revolution." Yeah I think that's strange buddy.

and several of those predictions is from February and has likely already been proven wrong.


Oh noes look at the food panic and how our savings has been wiped out *runs away*:eek:


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