30 reasons for Great Depression 2 by 2011

[arnold]

hi did you read the article “30 'leading edge' indicators of the coming Great Depression 2” by Paul B. Farrell , in the most of the case I agree with him, what do you think?


you may check this, here is the link,

http://www.marketwatch.com/news/story/well-great-depession-2-2011/story.aspx?guid=%7BB28B49B5-EFD1-4941-B57E-A2BA1545BA09%7D&siteid=yahoomy

[New-born baby]

Yes, I see a Greater Depression than the Great Depression, and I see it before 2011.
This is the beginning right before your very eyes. People just don't seem to understand that everything costs something. They want it free. But in order to get it free someone(s) have to produce the product so the gov't can take it away from the producer and give it to the non-producer. It is completely immoral (that means it is against the teaching of the Bible) and completely insane (all sin is insanity). Keyesianism and Socialism do not work; never have; never will. What you are watching is the complete economic and probably the complete political collapse of the USA. Next up: a dictator to put a stop to this insanity. Do you see anyone taking any real action to stop this craziness? All I see are our politicians moving to insure their wealth as the entire system collapses. There are no patriots that I see.

And please do not suggest I am all Doom and Gloom: I am simply stating the facts of reality. Those who suggest that this downturn is temporary, or that more socialism and more gov't spending (Obama) will solve the problem are in a complete denial of reality.

Here's the 30 reasons it can't go on:
1.America's credit rating may soon be downgraded below AAA
2.Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"
3.Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse
4.King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
5.Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year
6.AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers
7.American Express joins Goldman, Morgan as bank holding firms, looking for Fed money
8.Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
9.State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt
10.State, municipal, corporate pensions lost hundreds of billions on derivative swaps
11.Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up
12.Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
13.Fed also plans to provide billions to $3.6 trillion money-market fund industry
14.Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars
15.Washington manipulating data: War not $600 billion but estimates actually $3 trillion
16.Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs
17.Commodities down, resource exporters and currencies dropping, triggering a global meltdown
18.Big three automakers near bankruptcy; unions, workers, retirees will suffer
19.Corporate bond market, both junk and top-rated, slumps more than 25%
20.Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall
21.Unemployment heading toward 8% plus; more 1930's photos of soup lines
22.Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists
23.China's sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai
24.Despite global recession, U.S. trade deficit continues, now at $650 billion
25.The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities
26.Now 46 million uninsured as medical, drug costs explode
27.New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt
28.Outgoing leaders handicapping new administration with huge liabilities
29.The "antitaxes" message is a new bubble, a new version of the American dream offering a free lunch, no sacrifices, exposing us to more false promises

Will the next meltdown, the third of the 21st Century, trigger a second Great Depression? Or will the 2007-08 crisis simply morph into a painful extension of today's mess to 2011 and beyond, with no new bull market, no economic recovery as our new president hopes?
Perhaps some of the first 29 problems may be solved separately, but collectively, after building on a failed ideology, they spell disaster. So listen closely to "leading indicator" No. 30:

30.At a recent Reuters Global Finance Summit former Goldman Sachs chairman John Whitehead was interviewed. He was also Ronald Reagan's Deputy Secretary of State and a former chairman of the N.Y. Fed. He says America's problems will take years and will burn trillions.
He sees "nothing but large increases in the deficit ... I think it would be worse than the depression. ... Before I go to sleep at night, I wonder if tomorrow is the day Moody's and S&P will announce a downgrade of U.S. government bonds." It'll get worse because "the public is not prepared to increase taxes. Both parties were for reducing taxes, reducing income to government, and both parties favored a number of new programs, all very costly and all done by the government."
Reuters concludes: "Whitehead said he is speaking out on this topic because he is concerned no lawmakers are against these new spending programs and none will stand up and call for higher taxes. 'I just want to get people thinking about this, and to realize this is a road to disaster,' said Whitehead. 'I've always been a positive person and optimistic, but I don't see a solution here.'"

We see the Great Depression 2. Why? Wall Street's self-interested greed. They are their own worst enemy ... and America's too.

[Peter Hansen]

Is the Government beginning to limit our freedoms?, is the One World Order coming to pass? ..who knows ....but there are many onimous signs on the horizon.
The following piece may have some chilling answers!
http://www.wnd.com/index.php?fa=PAGE.view&pageId=88218

[New-born baby]

Is the Government beginning to limit our freedoms?, is the One World Order coming to pass? ..who knows ....but there are many onimous signs on the horizon.
The following piece may have some chilling answers!
http://www.wnd.com/index.php?fa=PAGE.view&pageId=88218


A vert interesting article, and it informed me of a movement of which I was totally unaware. I agree: the Federal gov't has way too much power.

[Peter Hansen]

I have not read this book ......but the author is not to optimistic about the US Economy!

http://www.amazon.com/exec/obidos/ASIN/047031043X/ctoc

[Peter Hansen]

The folllowing was taken from the Free "Coast Newsletter", and according to Mike Pazner , we could be in for a rough ride ......but "What Me Worry?" Of course not ..........great money will be made ......by using double and triple beta ETF Shorts....... I am not going into a fetal position watching the market collapse around me ......the shorts mentioned above will help me make gobs of money .....Depression, recession........Bring in On.... I am Ready!

February 21, 2009 www.coasttocoastam.com

Streamlink Audio
Economic Downturn:

Art Bell was joined by Wall St. insider Michael J. Panzner, who discussed the dire economic circumstances in America and around the globe. According to Panzner, the U.S. is not in a typical recession. Instead, he believes the crisis more closely resembles a depression, in which we can expect an extended period of economic contraction accompanied by deflation.



Panzner said the largest players in our banking system are insolvent. He suggested their current situation was brought on by a combination of factors, including exposure to trillions of dollars of mortgage backed securities, derivatives, and default swaps, and suggested that bailouts and stimulus packages will only postpone the inevitable, not resolve the nation's financial troubles. "What got us here, decades of excesses, decades of imbalances, you can't just stop them by saying, 'OK, we're determined and we're going to think positive,'" Panzner remarked.

What does Panzner see on the horizon then? Our currency will continue to be devalued by the ongoing 'printing press' policies of our government, he said, and we can expect an inflationary environment. Real estate prices will fall even further, perhaps not reaching final lows until 2012 at the earliest. There will be multiple "lurches down" in the stock market, Panzner continued, noting the DOW might fall by as much as 75% from its current level. The retail sector could be wiped out as the "religion of consumerism seems to be dying," he said. At the extreme, Panzner foresees the U.S. breaking apart, conflict with Mexico, and perhaps another world war.

Parts of the country will become "suburban wastelands" due to water and energy issues, Panzner further speculated. He exhorted listeners to adjust their attitudes and lifestyles accordingly, and to accept the reality that the current economic downturn is not short term -- it's the new norm. He recommended people pay down debt and live within their means, and advised investors to look at precious metals like gold, silver, and platinum.

[New-born baby]

Pete,
USA is in horrible shape, thanks to insane banking policies. Did you know that there is 19.5 sq. ft. of retail space for every man, woman, child, and illegal alien in this nation? That means, whoa!, we are way over built! There will be lots of empty malls an stores.

[New-born baby]

Are we experiencing deflation? The 15 conditions of a deflation (16 if you count bank failures) are all true today. See chart below.

http://img14.imageshack.us/img14/7748/34901489.png (http://imageshack.us)
http://img14.imageshack.us/img14/34901489.png/1/w839.png (http://g.imageshack.us/img14/34901489.png/1/)

[mrmarket]

I think we came pretty darn close...hopefully we are out of the woods~!

[peanuts]

I think we came pretty darn close...hopefully we are out of the woods~!

It will be interesting to see how the new money trickles its way into the hands of the people. First used to prop up the banks and other TBTF institutions, it will have to be put to work in the private sector in order for us to truly get out of the woods. One thing is for sure... Dr. Copper is predicting a recovery.

[Websman]

Maybe Newborn Baby is hiding in a fallout shelter somewhere and doesn't realize that the world hasn't came to an end yet. The economy does suck though.

[mrmarket]

Maybe Newborn Baby is hiding in a fallout shelter somewhere and doesn't realize that the world hasn't came to an end yet. The economy does suck though.


I miss NBB...one of the finest minds we've had on here. Along with Skiracer, Stenzrob and Spikefader.

[Websman]

I miss NBB...one of the finest minds we've had on here. Along with Skiracer, Stenzrob and Spikefader.

IIC is a heck of a trader as well.

[mrmarket]

IIC is a heck of a trader as well.


of course...but he's still here...I was referring to the departed souls.

[Websman]

of course...but he's still here...I was referring to the departed souls.

Ohhhh...brain fart I guess.

[ninner]

DOES anyone know what happpaned to nbb.....im believe we are in a new bull market that is going to last for years to come......naz to 2400 then onto 3000 u heard it here first