6/13/07 - The Great Depression II has officially begun...

[teena]

off topic

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

[DC_Zeta1920]

Interesting read.....

[KAPital PHINUst]

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.

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]

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:

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]

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]

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:

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