How bad will it get?
offigo
Posts: 81
A guy at work and a few reads on the internet are saying that this is it for the US, basically. He suggests that we collect non-perishables, keep any cash we can and get something to protect my self. The idea is that the Banks will collapse by the beginning of next year then all hell will break loose. I thought I was getting paranoid about going through "The great depression" (which of course I am) but these new rumors are freaking me out. Has any one heard these things, do you believe it is possible.
"Really don't mind if you sit this one out.
My words but a whisper -- your deafness a SHOUT.
I may make you feel but I can't make you think."
My words but a whisper -- your deafness a SHOUT.
I may make you feel but I can't make you think."
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Geez---bad timing for me to have 2 kids in college next year
Where I'm not ugly and you're lookin' at me
http://heyokamagazine.com/heyoka.20.geraldcelente.htm
ouch...
and reveling in it's loyalty. It's made by forming coalitions
over specific principles, goals, and policies.
http://i36.tinypic.com/66j31x.jpg
(\__/)
( o.O)
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they said the same shit about y2k.
the more things change, the more they stay the same.
Y2K wasn't linked to a legitimate, and tangible, financial crisis by the FED printing money out of thin air which devalues the currency. TO boot each dollar has immediate debt attached to it BY the Fed.
Here...pay us back with a less purchasing power on money we pulled out of our asses.
You follow that trend of stealing, and there is no question it's coming.
and reveling in it's loyalty. It's made by forming coalitions
over specific principles, goals, and policies.
http://i36.tinypic.com/66j31x.jpg
(\__/)
( o.O)
(")_(")
I just committed suicide to avoid the HORROR!!!!!!
1. State and local municiple insolvency
Somewhere around 3\5ths of the states in the US are finding themselves in budget shortfall scenarios , whereby they will not have enough money to meet budgeted expenses by year end. I'm not sure what the dollar value total of these shortfalls is, but given the current credit\lending environment, this portends very poorly for general government solvency. It also has some negative implications on law and order. Schools, courts, fire & rescue, police departments, CPS, etc ... all depend to some extend on state and municiple resources.
To compound matters here, much of this revenue for the municipalities is dependent on property taxes (and to a lesser extent, income taxes) ... as housing values continue to plumit (and people continue to be laid off) this situation deteriorates even further.
2. Foreign government bailouts\insolvency, US Treasuries, Interest Rates, and the US Housing Market
All these things are also tied together in a horrible negative feedback cycle.
There are now indications that we could be facing a SERIOUS crisis because of it.
CNBC is now talking openly about China specificaly being in a position of needing a bailout. The problem here is that the United States, through the magic of its dollar hegemony, is able to bailout US banks. However, China is NOT in so "envious" a position, and must come up with some OTHER creative means of financing a bailout of ITs banks.
HOW WILL CHINA ACCOMPLISH THIS?
BY SELLING UNITED STATES TREASURY SECURITIES.
BIG PROBLEM!
Here is a horrible viscious cycle getting ready to set up,
and it could pull EVERYTHING down with it.
1. Foreign governments (like China) have MASSIVE investments in the US housing market (and often through highly leveraged derivatives) which are performing VERY POORLY
2. As the value of US housing declines and as foreclosures rise, the value of these foreign owned securities plumits.
3. As the value of the housing securities owned by China (and others) plumits, THEIR banking system is put under massive strain.
4. When the foreign banks can no longer stay afloat, China must bail them out.
5. To do this, China must sell US Treasuries
6. Selling US Treasuries RAISES THE MARKET INTERST RATE, and LOWERS THE MARKET SECURITY VALUE
7. This can actually through treasuries in to a negative feedback loop, whereby large institutions dump their treasuries en masse, looking to hedge against inflation by buying inflationary commodities (oil, gold, etc)
8. As the US treasury market gets flooded with sales, interest rates on home mortgages skyrocket
9. High mortgage rates put massive negative pressure on the housing market
10. The housing market slumps even further, and owners unable to refinance at affordable rates get foreclosed upon.
11. Go back to step 2 and repeat, while US treasuries contine to sink, and rates continue to rise, like in the 70's.
THIS IS A MAJOR CONCERN AT THIS POINT.
There are several other rather unfortunate problems facing us, but the above two, imho, have to be the most disturbing.
Also, we have a manufacturing sector (autos in particular) which is about to go broke, causing massive layoffs, a decrease in GDP, and a further widening of our trade imbalance.
We have a retail sector that is so strained, that we will probably start seeing more than a few large retailers go bankrupt.
All of these consumer sectors will put negative pressure on the employment rate.
I dunno.
There are MANY good reasons to expect that things could get VERY ugly in the next year or so.
Do NOT get confused and think we are out of the woods, or that the worst is behind us.
We have a LOT more to scrape through, and the situation is still quite precarious.
It's hard to see how we get out of this with out some serious restructuring, and the possibility of some governments imploding, or becoming highly militant in order to survive.
:sigh:
If I opened it now would you not understand?
Video
The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions - all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012.
Gerald Celente, the CEO of Trends Research Institute, is renowned for his accuracy in predicting future world and economic events, which will send a chill down your spine considering what he told Fox News this week.
Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.
“We’re going to see the end of the retail Christmas….we’re going to see a fundamental shift take place….putting food on the table is going to be more important that putting gifts under the Christmas tree,” said Celente, adding that the situation would be “worse than the great depression”.
“America’s going to go through a transition the likes of which no one is prepared for,” said Celente, noting that people’s refusal to acknowledge that America was even in a recession highlights how big a problem denial is in being ready for the true scale of the crisis.
Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.
Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November last year that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others. He also said that the dollar would eventually be devalued by as much as 90 per cent.
The consequence of what we have seen unfold this year would lead to a lowering in living standards, Celente predicted a year ago, which is also being borne out by plummeting retail sales figures.
The prospect of revolution was a concept echoed by a British Ministry of Defence report last year, which predicted that within 30 years, the growing gap between the super rich and the middle class, along with an urban underclass threatening social order would mean, “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest,” and that, “The middle classes could become a revolutionary class.”
In a separate recent interview, Celente went further on the subject of revolution in America.
“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.”
“The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.”
“It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.”
“We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension.”
The George Washington blog has compiled a list of quotes attesting to Celente’s accuracy as a trend forecaster.
“When CNN wants to know about the Top Trends, we ask Gerald Celente.”
— CNN Headline News
“A network of 25 experts whose range of specialties would rival many university faculties.”
— The Economist
“Gerald Celente has a knack for getting the zeitgeist right.”
— USA Today
“There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about.”
- CNBC
“Those who take their predictions seriously … consider the Trends Research Institute.”
— The Wall Street Journal
“Gerald Celente is always ahead of the curve on trends and uncannily on the mark … he’s one of the most accurate forecasters around.”
— The Atlanta Journal-Constitution
“Mr. Celente tracks the world’s social, economic and business trends for corporate clients.”
— The New York Times
“Mr. Celente is a very intelligent guy. We are able to learn about trends from an authority.”
— 48 Hours, CBS News
“Gerald Celente has a solid track record. He has predicted everything from the 1987 stock market crash and the demise of the Soviet Union to green marketing and corporate downsizing.”
— The Detroit News
“Gerald Celente forecast the 1987 stock market crash, ‘green marketing,’ and the boom in gourmet coffees.”
— Chicago Tribune
“The Trends Research Institute is the Standard and Poors of Popular Culture.”
— The Los Angeles Times
“If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.”
— New York Post
So there you have it - hardly a nutjob conspiracy theorist blowhard now is he? The price of not heeding his warnings will be far greater than the cost of preparing for the future now. Storable food and gold are two good places to make a start.
If I opened it now would you not understand?
My words but a whisper -- your deafness a SHOUT.
I may make you feel but I can't make you think."
Only out of excitment, but then again, I am the laughing prophet of doom. This is all just part of the prophecy...
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It would probably be more beneficial to be more critical of govt spending policies, and the Federal reserve
and reveling in it's loyalty. It's made by forming coalitions
over specific principles, goals, and policies.
http://i36.tinypic.com/66j31x.jpg
(\__/)
( o.O)
(")_(")
(Based this statement on an email I got before he was elected)
I won't deny that the worst concerns me, and that poverty destroys spirit of the individual. However, within the collective human spirit is a fighting spirit. It will be time of collaboration.
The risk I took was calculated, but man, am I bad at math - The Mincing Mockingbird
i do not like this post. :(
i am in no way disagreeing with it's content, i just completely dislike what it is saying! ugh. 2012...not too far away, but sure as hell enough to fuck up all our lives if true, and yes...i'm not getting any younger.
Let's just breathe...
I am myself like you somehow
My words but a whisper -- your deafness a SHOUT.
I may make you feel but I can't make you think."
Many paint gloom and doom scenarios. I don't see it that way at all. For the most part, there may be major sweeping financial problems. Are you someone who is overly dependent on these systems?
Everything you do now is going to determine your experience of anything that happens. If you are caught up in your ego, and denial, and in keeping the status quo at all costs, 'banking' so to speak, on these precarious man-made systems, you very likely will end up mortified and shocked in the next few years. If you are semi-awake, and are willing to listen to your intuition and discern things from day to day and do what's necessary to adapt to what is really happening, you'll have the foresight to keep your balance.
Oh,...it's of paramount importance that we feel our fears, fully. Let them move through us, and give us the emotional message of alarm, and then let them go. That way we use our emotional intelligence. And once we process our fears, we'll receive the wisdom of this integration. And once we let the emotion move through and let it dissipate, let it go, we'll be able to see clearly again, with inSight.
The vast majority are in denial, and are out of touch with their emotional intelligence. It is these people who are out of touch with what is really going on, and therefore are not able to adapt effectively in each day, and will experience the fall-out the heaviest.
You create your reality. You have the power. By being aligned within, you can be one of those who is in the "right" place at the "right" time. You can be of those who will do fine, and even thrive. It's a matter of individual attunement, my friend. Peace.
http://www.myspace.com/illuminatta
Rhinocerous Surprise '08!!!
You work with Drifting?
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
You're going to be ok. Banks will collapse. They collapsed yesterday. You're not a bank.
The collapse is literally a case of tens of trillions of dollars of the world's money being thrown into a furnace and disappearing forever.
That's the same thing as half of our economy just disappearing as though it never existed in the first place.
But, in situations like this, it's important to remember the very basics of how an economy survives: resources.
The United States is still a nation of vast resources and infrastructure. Without those two components, no economy can survive.
We've allowed our corporations to take their operations overseas, and before we knew it, we all became services providers instead of factory workers.
Other nations ended up with those jobs, and so their economies expanded, but their economies would not exist without American consumerism.
And that's why when all is said and done, it's going to come down to who's got more resources and more infrastructure.
http://forums.pearljam.com/showthread.php?t=272825
....You post a source that no one can refute, and I ask you to comment on McKenna....I'm not cointel, I swear
(maybe coulda been a pm, but I thought I'd give offigo a lil somethin more to chew on
"...a shaman is someone who has seen the end, and therefore is a trickster, because you don't worry if you've seen the end. If you know how it comes out you go back and you take your place in the play, and you let it all roll on without anxiety. " ~ Terrance McKenna
And this video is a great representation of what is to be for those of us who are aligned and in the moment, outside of the false structures (including time, itself):
http://www.youtube.com/watch?v=57xGN0bGkhk
http://www.myspace.com/illuminatta
Rhinocerous Surprise '08!!!
He always seemed (edited tense :( ) to try to portray his interpretation of what's to come in a positive light.
here comes the heavy....real change...yes we can
I better get my ass aligned.
I like to think that most people are no different, and may even in fact be even more enthusiastic about tolerance, self-sacrifice and a disregard for excess, but I have to wonder sometimes.
http://forums.pearljam.com/showthread.php?t=272825
Peace
http://www.myspace.com/illuminatta
Rhinocerous Surprise '08!!!
Humour aside, you are right on, bro.
http://www.myspace.com/illuminatta
Rhinocerous Surprise '08!!!
Nope. It will not happen. The economy will come back in a few months, it just takes some healing first.
-Reagan