Umm..this video I faved 2 years ago seemed over the top..however..Weve heard about cutting SS..how many people would loose there lights, food meds..deaths will happen and this does not seem so urealistic now does it...
Ah the age old post revolution debate. I think this time the survivalists will be the laughing party (after being laughed at in Y2K). The fundamentals can be masked only for so long.
More and more Americans are waking up and taking the RED PILL! I am Canadian who is smart enough to realize that if the U.S. goes down so do we...so I watch and wait for the other shoe to drop and try and prepare myself and my family. Very difficult to get other Canadians to take the RED PILL right now but I will keep trying! As for people coming together...I don't see it in urban areas, but will probably happen in the rural towns.
Next depression will bring people together. Neighbors will start talking and helping each other. Money is not everything, love is. It is not going to be that bad, trust me. Americans are though motherfuckers. We are not Europeans.
What will people eat? Love is great but if there is no food we are mutually screwed.
You better prepare for yourself and your family and quit relying on everyone else's love to save you. They just might not have enough "love" to fill your belly.
Not to break up the love-fest but just think a bit. Go back and look at the news footage from Katrina when mothers ran frantically up and down the street looking for food and water while their poor baby's eyes were rolling back in their eye sockets.
Your comment is ironic but it also makes me feel a tinge of sadness for you, you say "money is not everything, love is" and within the same comment you disparage Europeans, not because of your perceptions about meeting all of us but because of what you have heard and read from other people who have clearly brain washed you.
at 7:22 he advocates commie china system for the U.S. LOL.
U.S.S.R. = United States Socialist Republic
what ever happen to the neo-con republicans who love milton friedman's economics? we will be like Hugo Chavez from Venezuela.
damn 5% of the world population consumes 50% of the world resources is over. i'm depressed already. in a sense, it is a good thing because it will spread resources evenly. the rich will not get richer and the poor will not get poorer.
The truly rich aren't going to loose a dime. The only people who're going to get shafted in this are the 99% of the people out there who aren't OBSCENELY wealthy.
I give the US about 3 month from the moment they cant import oil because the US cant afford to pay the price, there's a reason why the US went to Iraq and there is a reason why Russia is sending some ships to Venezuela! A desperate country will do desperate things! buy gold & a solar panel and find some relative with a big garden before it starts and $ are dumped on the international level!
During the great heave wave in France in 2003, we did not lose our electric power. What happened was about six to eight weeks of no rain and great heat, and a lot of people on pills keeled over. It was just as much young people as old, that is to say, 40 years old. It was hell and I don't want to go through that again. I am an American living in France because I couldn't get healthcare back in the States. Good video, keep posting. You are so spot on, God help us!
only thing I disagree with you on (although I understand your reasoning) I don't think the next president will say the 'depression' word. He will be advised that 90% of the economy is psychological, and therefore they will lie...of course that would depend on how quickly this plays out. I just don't see any upside for govt to admit the truth, nor do they have any track record of telling the truth. Everything else you're saying...could have been me saying it.
Paulson, Bernanke Seek Support for an Agency to Buy Bad Debt (Bloomberg) the Federal Reserve, which is getting $200bln in special funding from the Treasury this month, has the authority to take on a broader role. The Fed's role expanded further when the central bank agreed on Sep 14 to accept a broader range of collateral, including equity, in exchange for loans to investment banks. The central bank today said loans to securities firms soared to a record $59.8bln yesterday.
`the government would come first,'' he said. ``The government would get repaid before the others in the financial chain.'
H. Clinton proposed resurrecting a 1930s-era agency to stem foreclosures.
`Quarantining' Needed
``We need a modern day Home Owners' Loan Corporation,'' Clinton said in remarks at the Senate today. ``There will not be any semblance of a normal or orderly market'' without ``quarantining'' the devalued loans outstanding, she said.
The Fed will spray the dollars around the world via swap lines with other central banks, who can then auction them in their own markets. The ECB, Bank of England and Swiss National Bank offered a total of $90bln for one day yesterday.
Under the new arrangements, the ECB can now double its existing limit of dollars it gets from the Fed to $110bln and Switzerland's central bank can offer $27bln, an extra $15bln.
Fed almost quadrupled the amount of dollars central banks can auction around the world to US$247bln in worst crisis since the 1920s. The Fed increased the amount of dollars that the European Central Bank, Bank of Japan and other counterparts can offer from $67bln "to address the continued elevated pressures in US dollar short-term funding markets". The Bank of England, the Bank of Canada and the Swiss National Bank also participated.
Canada Joins Other Central Banks, Stocks More Dollars, said it will add C$2bln ($1.89bln) to the banking system tomorrow to keep credit markets working. Under the swap facility agreed to with the Fed, the Bank of Canada can use $10bln to inject liquidity into Canadian money markets. The Canadian dollar rose 1.1 percent after today's central-bank actions, strengthening to C$1.0620 per U.S. dollar.
Paulson, Bernanke met with Congress on Thursday night to discuss a range of possible solutions. Item One at the Thursday meeting was the illiquid assets that are at the underlying sources of the current stresses in our financial institutions and financial markets." Worldwide, financial companies have reported more than $500 billion in charges and losses stemming from the credit crisis — a figure that some specialists say could eventually exceed $1 trillion.
Bush could legally take office again.GOOGLE "The Bush administration has released a directive called the National Security and Homeland Security Presidential Directive." NSPD-51/ HSPD-20 " The language of the May 9 directive appears to negate any a requirement that the President submit to Congress a determination that a national emergency exists, suggesting instead that the powers of the executive order can be implemented without any congressional approval or oversight.
Ezekiel 7:19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
Japan, Australia Inject $33 Billion to Soothe Markets (Bloomberg)
Global central banks from Tokyo to Frankfurt have added more than $200 billion since the beginning of the week.
The U.S. Federal Reserve yesterday added $50 billion in temporary reserves to the banking system, while the European Central Bank awarded 70 billion euros ($99.8 billion) in a one- day money-market auction. The Bank of England pumped in 20 billion pounds ($36 billion).
Asian central banks spend billions to prevent crash (IHT)
Central banks tried to prevent the Wall Street upheaval from freezing the global financial system... The region's banks spent nearly $27 billion.
European central bankers inject cash into markets.(IHT)
The European Central Bank lent €30 billion, or $42.5 billion, to banks. The Bank of England said it will also lend £5 billion over the next three days at a 5 percent interest rate.
No offense, but this panic is worse than Y2K. With that said, buy lots of firearms, bury ammo, etc. : P
p.s. - EVERYONE has an agenda.
p.s.s. - This is all being done on purpose.
p.s.s.s. - The U.S. isn't even in the top 10 when it comes to national debt size. Also the U.S. isn't in the top 25 of countries when its comes to personal debt as a percetage of GDP. Which is good. Canada for example is #1.
Bottomline, the sky isn't falling. We all need to take a giant collective breath.
US Treasury Secretary Henry Paulson vowed Monday to take steps to maintain stability in US financial markets, as the failure of US banking titans sent global markets into a slump.
"I am committed to working with regulators and policymakers - including Congress - to take necessary and appropriate steps to maintain the stability and orderliness of our financial markets," Paulson said in a statement.
"And I will engage with regulators and policymakers around the world to that end," he said
About time for another change to the Constitution of the U.S., isn't it? (sarcasm)
What is it Barney Five says? NIP IT! NIP IT IN THE BUD!
I don't know about all the conspiracy stuff, but what I do know, is the facts, and what facts are showing, is some major corruption and it's got to stop!
i really think its time to stop looking at numbers...just prepare, prepare, prepare...their will be no easing down "soft landing"...its to our advantage though...we have longer to get ready...
its being reported on NPR that FEMA is not helping anyone who has not lost their homes in texas (Ike). that includes water and ice...guess they arent too big to fail
Lehman Lists Debts Of $613 Billion In Chapter 11 Filing Monday
Lehman Brothers Holdings Inc. (LEH) filed for Chapter 11 bankruptcy Monday in New York, listing debts of $613 billion and naming as unsecured creditors owed hundreds of millions of dollars banks from Tokyo, Hong Kong, New York, Singapore and Taipei, among others.
Government data show the nation's industrial output plunged in Aug by nearly four times the amount that had been expected. It's the worst performance since Hurricane Katrina devastated the Gulf Coast in 05.
The Federal Reserve reported Mon that industrial output dropped 1.1% last month, far worse than the 0.3 % decline that economists had been expecting.
The weakness was led by an 11.9% drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry.
So, the big question is this? HOW IN THE WORLD CAN B OF A take on MERRILL AFTER BUYING COUNTRYWIDE!!! The answer is they can't. TOO BIG TO FAIL is the BUSINESS PLAN FOR B OF A.
Well, they bought it ... obviously they must had looked at Merrill from all aspects and thought $50 billion is a bloody good bet.
So basically we have 3rd, 4th, 5th largest investment banks in USA went under this year so far. Then 2 largest GSEs .. WOW .. I was thinking Bush's PPT would try to postpone this till after election. What happened? Amazing, USD still goes up.
The liquidation of LEHs assets will force the other brokers to mark down their assets accordingly and therefore pressure all capital ratios. She adds, a propos of the steep decline of the stock futures markets in early trading Monday, that she expects financial markets to be under unprecedented strain over the next several days as players respond to outsized industry deleveraging.
VV, if you are able, please post an emergency video about the failure of LEH and the buyout of MER. I know alot of us are feeling like this will lead into the financial collapse.
VV, you mentioned foreign stocks as part of your diversity of wealth. Would you suggest two or three companies you're comfortable with presently, given our present circumstance.
Thanks for sharing your knowledge, experience and recommendations!
I'd hate to be a deflationist who bet on the strength of the dollar. Looks like the manipulation up of the dollar has run its course. Paint the tape and lead the hedge funds by the nose, tricking all the deflationists. Disinflation and deflation are not the same thing. Tough lesson to learn. How far is the real printing away?
back in july there were many predictions of 5 dollar gasoline by september. many of us who post here argued this...funny how it still came true even though oil has dropped significantly ...the die was cast i suppose...
What would you do if Jesus returned after September 08'?
Remember that Jesus said the last days would be like the days of Noah? (I think it would be better to emulate Noah to warn the people and prepare for the worst and hope for the best!)
Furthermore, he intimated (and I suspected that this was coming, although this wouldn't actually become law until Bush-Cheney was in office for second term one way or another) that the Bush-Cheney regime determines that the Gold Confiscation Act gives to Treasury the power for so-called forced disclosure of gold holdings.
This has happened this year, what else is fulfilled?
American International Group will announce an asset sale or capital injection as soon as tonight, or sometime tomorrow, CNBC has learned.
The insurance giant, which declined comment, is pursuing a three-part plan to raise $50 billion in liquidity. It is trying to raise billions from private equity firms, and is also in talks with Warren Buffett, CNBC has learned.
U.S. asset prices sank late Sunday as talks to sell Lehman Brothers faltered, with the first official transactions of a new business week pushing stock market futures sharply lower in New York and the U.S. dollar sinking in the opening salvos of currency dealing in New Zealand.
"The extraordinary trading session held today to facilitate a partial unwind of these positions saw very little trading -- perhaps $1 billion total -- but at much wider spread levels for corporate bonds," Gross said.
NEW YORK - Bank of America Corp. and Merrill Lynch & Co. are in talks about a possible combination of the two financial companies, according to an official with direct knowledge of the talks.
Get ready people it's all coming down hard! Stock up on supplies I can't stress this enough. It could be complete chaos in a few week we don't know. We Canadians should be ok for a bit longer but not much. This tsunami is going global, hang on folks!
Think about it people, Lehman not being bailed out. Who is begging uncle Ben next?
WaMu, GM, etc.. anymore bear market rallies spewed by the Talking heads or money honeys? I think not. Now it turns I predict get yourself prepared. I have silver, gold, cash, guns, gas, food, generators, and passports. still trying to sell off some of my investment assets to have more cash. But when the stock market tanks. I am outta here that instant. If they shut down borders immediatley then we shall see.
I hope you plan on having some platinum fashioned into beltbuckles and suitcase trim. Wealth will be likely confiscated at border (I heard something a month or so ago about trying to prevent wealth leaving country). Never can be too careful. Besides, nothing says cowboy like a 5 pound belt buckle that doubles as a dinner plate.
WELLINGTON (Reuters) - The U.S. dollar tumbled in early trade on Monday on increasing worries over the U.S. financial sector after talks to sell Lehman Brothers Holdings (LEH.N: Quote, Profile, Research, Stock Buzz) faltered over the weeken
"I think it is a significant challenge to guess at how the major paper currencies of the world will perform relative to one another in this environment. But I don't see how this performance is critical to a thesis of deflation. What is critical is that all paper will fall in value relative to physical goods. This implies price inflation at the same time as we have monetary deflation."
It is now clear that we are again as we were in mid- March at the time of the Bear Stearns collapse an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman
but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Mand ). Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Fri and again today to convince them not to pull
If you google Lehman Brothers blue pill (or blue pill) there are so many articles which refer to taking either of those colored pills, which goes to prove you were or are way before your time. You made that video re: Matrix months ago. I bet these commentators watched and learned from your videos way back when.
AIG, the world's largest insurer, will address Wall Street on Monday to allay fears about its future in a move that could involve the company using large asset sales to raise capital.
AIG's shares lost a third of their value in trading in New York on Friday after Standard & Poor's threatened to downgrade its debt. Robert Willumstad, the chief executive of AIG, is already scheduled to publish a trading statement for the insurer today. He is also expected to host a conference call for analyst.
Update. Reuters reports that Bank of America (NYSE: BAC), which had been considered the prime bidder for Lehman, has withdrawn its bid. "I've just heard from a person familiar with the negotiations that Bank of America is no longer in the bidding for Lehman Brothers,"
It looks like no one will take Lehman to the dance. Should be a fun day on wall st. tomorrow. Especially for day traders who are holding positions.
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
We are in the midst of a HyperDEFLATIONARY collapse. What the government does after that is up in the air but in the short to intermediate term we will experience nothing but a deflationary collapse. Buy all the gold you want but it will not protect you from a global deflationary collapse.
I think one could make a strong argument for hyperdeflation. BUT, the argument that the us dollar commands top respect as foreign lenders get their asses handed to them is tenuous. Your argument rests on a strong dollar. It also collapses under a debt default.
The dollar would collapse if the problem were confined to America but it is not. It is a global problem that needs global solutions. Take a look at the global markets and economies, they are all hurting. Globalization has left the world too interconnected just as all of the Wall St. Banks are. Thats why the government is trying to head off a problem by protecting banks with extreme counter party risk. Hopefully there will be more regulation in this area ALSO in the future.
If you don't quite get what I'm saying think of our nation as the richer people in the u.s. If we lower our conditions others will raise theirs and it may make a good balance, because face it, all this crap we have that we don't need can be sent to other people who do need it.
You know I live in the u.s. and I think, as bad as this could be, it will be a blessing in disguise for the rest of the world. If the u.s. doesn't consume all these recourses then other nations will be able to. I think that lower living conditions will cause an equilibrium. Our country has been hurting others with all this cheap labor being used to support our economy, and it has caught up. Think of it as a cleansing of living beyond our means.
NEW YORK - An emergency trading session has been opened between Wall Street dealers with Lehman Brothers counterparty risk.
The session will run from 2 p.m. to 4 p.m. and will involve credit, equity, rates, foreign exchange and commodity derivatives, the ISDA said in a statement.
"Trades are contingent on a bankruptcy filing at or before 11.59 p.m. New York time Sunday," said the statement. "If there is no filing, the trades cease to exist."
Sept. 14 (Bloomberg) -- Barclays Plc, the U.K.'s third- biggest bank, said it abandoned talks to buy Lehman Brothers Holdings Inc., contending it couldn't obtain guarantees to protect against potential losses at the U.S. securities firm.
In other words, if the US won't absorb the bad debt, then no deal.
The simple truth of the matter is that America is a plutocracy. One need only look at the recent history of corporate bailouts over the last 30 years. To suggest that Americans are free is as ridiculous as saying that they are homeowners when they have 30 years of payments left on their homes. At least share croppers got 40 acres and a mule. Today Americans owe their lives for .2 of an acre and a boat load of debt. Their future has been sold down the river by the wealthy.
sorry, you NEVER own property in the USA. Badnarick taught some courses on this (BTW, he is the biggest computer nerd you will ever know as he designed the code powering the Nuclear power plants).
Remember, emminent domain isn't just for 'government use' now. Hotels can take your property if they want it. Stop paying property taxes, and that $5,000 debt will cost you your $350,000 property.
Land of the Free?
Wealthy didn't sell us out. Our politicians like Woodrow Wilson did for nickels.
The problem is that the whole world system only works if numbers go higher. Any reduction in the size of the numbers will pretty much destroy the whole thing. That is what we are seeing.
In the past, numbers went up until there was no more money, somewhere in the late 70's. Since then, the whole system has been financed by imaginary money called debt. Now we can't even imagine ever being able to pay it back. Collapse, implosion, downfall, Hell coming to breakfast, you pick one Teller3448.
I think the word 'collapse' that is endlessly repeated is too strong.
You have to remember that Americans are living in a state of extreme excess compared with most of europe, and that a downturn of 30% will only bring them down to a sane adequate normality.
Paulson is former Chairman and CEO of GS and very close to the Chinese government. Don't believe those rumours that he designed the FRE FNM rescue to help his banking and Chinese friends at the expense of the American taxpayer. Don't believe those nasty rumours that he has abrogated federal accounting standards in order to deceive you, the trusting sheeple. Don't call or email your broker to close all positions in your portfolios. Trust us!
I did not comment on the ways he is going about doing his job, only that he is doing it. Bernanke and Paulson are faced with problems of the proportions we have not seen since the great depression! And you guys are going to sit here mocking and ridiculing them as if you know what the best solution would be for the American people? Give me a break.
And why are we facing problems we have not seen since the Great Depression? This financial system, this economy, that serves the upper quartile of the top 1% is a complete joke. Most of us here recognize it is going to go up in a puff of smoke despite what the Fed/Treasury does or doesn't do. Every action they take now only delays the final outcome. What is the best solution?
LET THEM ALL FAIL.
Oh that's right, it's socialism for the rich and free markets for the poor.
Union Busting helped to pave this path, IMO. Which is a big reason why Big Biz was so willing to rush to foreign manufacture - no labor laws, no bargaining issues.
The middle class lost its power at the free market table.
Bernanke and Paulsen sprung a trap, how many took the bait and bought into commodities just before they tanked. These guys are good. They are the "big boys"
Are you kidding me? Bernanke and Paulsen have FAR more to worry about on their plate to spring traps for foolish investors. SURPRISE! There is actually a whole lot of complication in the world of global finance and Bernanke and Paulsen both have their hands full to have the time to "spring traps". Get with the picture.
The Washington Post: 'The White House budget office said yesterday that it has decided not to incorporate mortgage-finance giants Fannie Mae and Freddie Mac into the federal budget, citing the temporary nature of the Treasury Department's takeover and "the level of federal ownership" of the firms.' What a bunch of crooks. This is akin to having a secret credit card with a $1 Trillion balance.
IMHO, I afraid it is worse than that, as ""it has not "actually" borrowed..."since" March"". This means they have borrowed (how much?, who knows) and yet have stopped borrowing since March. This begs the question: why? One answer would be that the decision makers concluded that it would not have made any difference. That begs a further question, why then stop borrowing if Leh would tank? Mitigate the consequence...less people get indicted for fraud. Again, IMHO.
The New York Times: "Lehman has had the power to plug any cash shortfalls by borrowing from the Fed, though it has not actually borrowed any money from the program since March." WHAT?! They had access to basically free money and didn't take it?!! HUH? It's like they want to fail, like that was the plan all along...
This is not so much the fall of the US as it is the rise of China and other creditor countries. Remember, all countries are inextricably tied to the US economy. The saying "The US sneezes and the rest of the world catches pneumonia" is true.
Countries that are creditors have tried to inoculated themselves against the US downfall but the situation is so complicated predicting the future becomes a crap shoot.
The government will go to great lengths to "pace" the inflation. Too fast will kill
Your doomsday words have been way over the top and can rightly be labelled incorrect.
Now I may be wrong but I think a continued slowdown will occur which will be tempered with the stimulus (its not all spent). Hyperinflation will not occur.
I haven't watched your videos for a while, but it was this one that clued me into what a nutcase you are.
You are KIDDING yourself! First, take a look at the picture of that woman on your Canadian Bills... Then, please recall that GB has entered into the Eureopean Union and IS using Euros as we speak.
This has NOTHING to do with "Government" and EVERYTHING to do with who PRINTS your Cash! THEY are the Real owners of your currency! Why do you think Canada and GB sent troops to Iraq "in solidarity" with the U.S.? There are bigger forces at play here.
Canada???? Canada is not a big player at all, the only reason they entered Iraq was they were forced to by the US. Since we buy all of Canada's oil,they were obligated to conform.
HEY! Heres a conspiracy theory that actually makes sense. Hyperdeflation sets in, Everyone defaults and the banks own everything. After the banks own and get back every thing thats physical Hyperinflation sets in to pay off the government debt. Its a win-win situation for the super elite and makes a shit ton more sense than hyperinflation right off the bat which would allow every indebted American to own everything they dont and shouldnt. Let me know what you think.
Ouirallwun I reached the same conclusion after countless weeks of analytical study and observation.. it is diabolical and very clean checkmate endgame move.
Ouirallwun - HyperDeflation causing default? Are you speaking specifically about the housing market? (As I understand it, hyperinflation means you are paying off debt with cheaper dollars - that is, if you have them.) Please explain?
Yes, Hyperdeflation ala the Great Depression. Extreme Unemployment. Credit money dissappears, bank runs happen, people have practically no money. This chronically credited populace defaults on everything they own on credit (including houses on mortgage). So practically no one has anything. After the banks get all of this back then the government defaults on its debt and hyperinflates the currency so that its the worst of both worlds for the people.
except the goverment and banks better get some chinese military folks in here asap...because their will be a civil war...or revolution...deposess 100 million people and see if they dont pick up guns and matches....
WASHINGTON (AP) -- The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers.
Looks like Paulsons bazooka is getting plenty of use.
Use caution. Don't try to time the collapse. Even without all the economic data, Revelations talks about the great tribulation, so it's a guaranteed event, we just don't know when. When you see a pregnant woman, you don't know exactly what day she will give birth, but you know from the signs when it will be approximately. Same here. Economic data shows soon could be real, but 20 years from now isn't impossible either. Just be prepared as best you can. Reduce how much you will suffer.
Small relation(lol). Another thing I find interesting is I have a friend former Army buddy of mine. His wife is in nursing school and she is expecting to make between 60-85,000 a year starting out, so they are not worried about the coming events because they are "safe" from the fall out. Nobody has touched on the fact that we will not have enough money to even pay the medical industry, they are overpriced already with bloated salaries, what happens when the fall out comes?
If any of you got Peter Schiffs latest email, he says that we would be in real big trouble financially if the Fed didn't bail out Fannie and Freddie. The Fed is simply delaying the worst case possible.
Oh yeah, I agree but the reserves we have left are becoming harder and harder to access and someday, maybe in a hundred years or less, it will run out. When you really think about it, there is nothing else to replace it.
To manufacture any kind of substite in the quantities that we will need will take massive amounts of energy. Hydrogen is a possibility, but we can't make roads, roofs, plastics synthetic rubbers and all the other good stuff out of hydrogen. Solar won't run a jet or train.
I had always thought that it was the Industrial Revolution that had led to our population explosion. I never realized that the Industrial Revolution never would have happened if it hadn't been for oil and coal.
Without oil, the planet simply can't support six and a half billion people.
It's a sobering thought. Fighting over oil isn't about money and big business, it's about survival.
The general populous can't live without oil. The world economy is based on oilhe , but small rural communities can survive without it. Life is much harder but possible (just ask the Amish). Have a look at the website or google "post caron institute" they discuss how people can survive in the absence of oil and form alliances in small communities and cities to help each other out when the time comes.
i live in the rural south...and have menonites in our community...those god fearing folks who wont drive a car because its a sin but dont mind riding in yours and encouraging you to do what they believe is a sin...but anyhow...they use plenty of oil...fertilzer, pesticides, herbicides..and other farm products, textiles they buy from walmart that was transported from china..and dozens of things you dont think about..they are not the wholesome people you might think..nor are they environmentalist
You got that right I see the menonites (Dutch ancestry) Northen Mexico ones at the dealer auctions here in texas. Also one was beheaded in Merida (Cancun)area by rival drug cartels. Yep real God fearing folks.. Gimme a break.
I read an article by some guy the other day that is giving me a whole new way of looking at things. He said that there is only one thing that has allowed our population to reach over 6 billion on this planet.
Oil.
We use it for everything. Roads, roofing, plastics, industry, mining and smelting metals, agriculture, transportation and on and on.
There really is no realistic alternative. It's not just about gas at the pumps. We're running out. It's only going to get worse. When it's gone?
I suggest checking out Lindsay Williams videos on you tube, he says we are not running out of oil, there are massive reserves wich will soon be opened, oil will drop to 50$ a barrel.
I saw and heard the Lindsey williams Video's with the $50 oil- I'm not buying it, he has had some accurate predictions, but also some BS-He spends more time tellin Alex J about how he cant tell him whats gonna happen- as he's telling it- or they will "kill' him- then he goes on telling AJ everything- Nonsense- But lindsey does have interesting theories, but Not buyin it. He couldnt tell this stuff if it were true. Unless he's dead, but he's not
There are massive reserves, but not compared to how much we use, We consume 31 billion barrels a year,Brazil just found that much last year, So its 1 yr extra supply,Anwar has 15 billion, But producing these fields will only prop up production while others decline,
Strange, Storm hasn't even hit and there is a shortage. Prices jump. People are scared.
If we don't get a gov't that will take a stand on this stuff, It will get get worse. Prepare People, we are all we have, help the elderly and the very poor.
Let's begin with the timeliest release out Thursday, which is first time claims for unemployment benefits. New applications for jobless benefits filed the week ended Sept. 6 slipped marginally to 445,000, from 451,000 the previous week. This is the eighth consecutive week new applications exceeded 400,000, which is the range typically associated with recessions.
Washington - Has the US entered a new era of government bailouts for business?
First, Uncle Sam intervened to rescue investment bank Bear Stearns. Then last week the government took over failing mortgage giants Fannie Mae and Freddie Mac.
Now Lehman Brothers is tottering raising the prospect of another US salvage operation. And the Big Three automakers are in Washington this week with hats in hand, asking for loans to finance development of more fuel-efficient vehicles.
ive been trying to brains torm what i could do if i lose my job. there is a great youtube video on how to build your own wind generator, if shtf maybe i can build them for my neighborhood in exchange for food or services. i am looking for suggestions or ideas that anyone else might have for being productive in the future economy, other than farming of course. I was also thinking of stocking up on alcohol and cigarettes, they would be a powerfull currency as valuble to the addict as gold or food.
Good plan with the booze and cigarettes. I also never pass up a chance to buy Bic lighters when they are on sale. Coffee and tea are good ones. Salt, spices, toothpicks, toilet paper is bulky but if you have room, it would be a nice treat for somebody who didn't have any. Knives, nylon cord can be used for anything including shoelaces, rope, gloves, and so on. We take a lot of little things for granted.
You might make a living as a small scale general store. Trade and barter. No tax.
Coffee is a great one. I could live without, but sure love my coffee! LOL And headaches if you go cold turkey. Thanks goodness to VV, because I stocked up on coffee months ago when started to read his vids, and already had to dig into that supply.
Bought the alcohol and the MYO ciggy machine - got tobaccy & tubes! Yeah, I agree, toilet paper and sanitary pads will be huge (no joke!) - add drawstring trash bags, candles and batteries to that barter list and you could own the neighborhood by the time it's over.
Washington Mutual was downgraded to below investment-grade status by Moody's Investors Service, after the largest U.S. savings and loan projected a $4.5 billion third-quarter increase in reserves for bad loans but said it has more than enough capital.
I cant believ everyone is still bent on precious metals (you cant eat or drink them). It is the skilled labor that could benefit from this down fall on a barter system. I am working on a barter blog to match skills with needs and vice versa. Network will be the way too survival , not hording shinny metals that go up and down everyday in value. Get out of any major by at least 30 miles, if you are looking for safer places to go (MN,WI,OR,WA,ID,MT,ND).
Knoxville-area drivers are seeing more bags on gasoline pumps today as a petroleum shortage spreading throughout the Southeast hits local gas stations, groceries and convenience stores.
"We're working around the clock hunting. We're not even asking the price. It doesn't matter right now," Weigel said about his staff's efforts to locate supplies. "There is just no gasoline."
All the world economies will collapse at the same time, the united nations will be given great power as all the nations come together, the complete collapse will be very short lived for good reason, the outcome will be peace and prosparity at last. It all will happen very quickly once it starts. If its not resolved quickly millions of people will easily die and that will not be allowed.
And George Bush understands what the American people are going though and care dearly about the 1 Million innocent Iraqies. Also Freddie and Fannie CEOs will give back their golden parachutes of 14 million. People who committed massive corporate fraud will be jailed and the Comex futures scam will be relieved and it's regulators jailed. Then we will all sing Christmas corrals and live happily ever after.
I just received a text from a co-worker. Gas shortage in Alabama (Gadsden, Birmingham are the two cities I know for sure right now). Signs posted on the pumps...10 gallon limit!
Umm..this video I faved 2 years ago seemed over the top..however..Weve heard about cutting SS..how many people would loose there lights, food meds..deaths will happen and this does not seem so urealistic now does it...
myworldmyboys 5 months ago
Ah the age old post revolution debate. I think this time the survivalists will be the laughing party (after being laughed at in Y2K). The fundamentals can be masked only for so long.
lcbaudar 3 years ago
More and more Americans are waking up and taking the RED PILL! I am Canadian who is smart enough to realize that if the U.S. goes down so do we...so I watch and wait for the other shoe to drop and try and prepare myself and my family. Very difficult to get other Canadians to take the RED PILL right now but I will keep trying! As for people coming together...I don't see it in urban areas, but will probably happen in the rural towns.
1stCorinthians13 3 years ago
Next depression will bring people together. Neighbors will start talking and helping each other. Money is not everything, love is. It is not going to be that bad, trust me. Americans are though motherfuckers. We are not Europeans.
Sypress11 3 years ago
What will people eat? Love is great but if there is no food we are mutually screwed.
You better prepare for yourself and your family and quit relying on everyone else's love to save you. They just might not have enough "love" to fill your belly.
Not to break up the love-fest but just think a bit. Go back and look at the news footage from Katrina when mothers ran frantically up and down the street looking for food and water while their poor baby's eyes were rolling back in their eye sockets.
kuernodechivo 3 years ago
Your comment is ironic but it also makes me feel a tinge of sadness for you, you say "money is not everything, love is" and within the same comment you disparage Europeans, not because of your perceptions about meeting all of us but because of what you have heard and read from other people who have clearly brain washed you.
saurik1234 2 years ago
at 7:22 he advocates commie china system for the U.S. LOL.
U.S.S.R. = United States Socialist Republic
what ever happen to the neo-con republicans who love milton friedman's economics? we will be like Hugo Chavez from Venezuela.
damn 5% of the world population consumes 50% of the world resources is over. i'm depressed already. in a sense, it is a good thing because it will spread resources evenly. the rich will not get richer and the poor will not get poorer.
KhmerD0g 3 years ago
The truly rich aren't going to loose a dime. The only people who're going to get shafted in this are the 99% of the people out there who aren't OBSCENELY wealthy.
Bluedragon094 3 years ago
ther will be a new cold war its the plan,but this time it will go fast and all the way
shooterwall 3 years ago
I give the US about 3 month from the moment they cant import oil because the US cant afford to pay the price, there's a reason why the US went to Iraq and there is a reason why Russia is sending some ships to Venezuela! A desperate country will do desperate things! buy gold & a solar panel and find some relative with a big garden before it starts and $ are dumped on the international level!
SCTV 3 years ago
During the great heave wave in France in 2003, we did not lose our electric power. What happened was about six to eight weeks of no rain and great heat, and a lot of people on pills keeled over. It was just as much young people as old, that is to say, 40 years old. It was hell and I don't want to go through that again. I am an American living in France because I couldn't get healthcare back in the States. Good video, keep posting. You are so spot on, God help us!
slobomotion 3 years ago
you live in socialist france. lucky you.
KhmerD0g 3 years ago
only thing I disagree with you on (although I understand your reasoning) I don't think the next president will say the 'depression' word. He will be advised that 90% of the economy is psychological, and therefore they will lie...of course that would depend on how quickly this plays out. I just don't see any upside for govt to admit the truth, nor do they have any track record of telling the truth. Everything else you're saying...could have been me saying it.
OptikNerv1138 3 years ago
Your thoughts are very interesting. Let's see what happens. Let's see what "the men behind the curtain" next move is. Godspeed.
uea978 3 years ago 2
Paulson, Bernanke Seek Support for an Agency to Buy Bad Debt (Bloomberg) the Federal Reserve, which is getting $200bln in special funding from the Treasury this month, has the authority to take on a broader role. The Fed's role expanded further when the central bank agreed on Sep 14 to accept a broader range of collateral, including equity, in exchange for loans to investment banks. The central bank today said loans to securities firms soared to a record $59.8bln yesterday.
hoktula 3 years ago
`the government would come first,'' he said. ``The government would get repaid before the others in the financial chain.'
H. Clinton proposed resurrecting a 1930s-era agency to stem foreclosures.
`Quarantining' Needed
``We need a modern day Home Owners' Loan Corporation,'' Clinton said in remarks at the Senate today. ``There will not be any semblance of a normal or orderly market'' without ``quarantining'' the devalued loans outstanding, she said.
hoktula 3 years ago
The Fed will spray the dollars around the world via swap lines with other central banks, who can then auction them in their own markets. The ECB, Bank of England and Swiss National Bank offered a total of $90bln for one day yesterday.
Under the new arrangements, the ECB can now double its existing limit of dollars it gets from the Fed to $110bln and Switzerland's central bank can offer $27bln, an extra $15bln.
hoktula 3 years ago
Fed almost quadrupled the amount of dollars central banks can auction around the world to US$247bln in worst crisis since the 1920s. The Fed increased the amount of dollars that the European Central Bank, Bank of Japan and other counterparts can offer from $67bln "to address the continued elevated pressures in US dollar short-term funding markets". The Bank of England, the Bank of Canada and the Swiss National Bank also participated.
hoktula 3 years ago
Canada Joins Other Central Banks, Stocks More Dollars, said it will add C$2bln ($1.89bln) to the banking system tomorrow to keep credit markets working. Under the swap facility agreed to with the Fed, the Bank of Canada can use $10bln to inject liquidity into Canadian money markets. The Canadian dollar rose 1.1 percent after today's central-bank actions, strengthening to C$1.0620 per U.S. dollar.
hoktula 3 years ago
Paulson, Bernanke met with Congress on Thursday night to discuss a range of possible solutions. Item One at the Thursday meeting was the illiquid assets that are at the underlying sources of the current stresses in our financial institutions and financial markets." Worldwide, financial companies have reported more than $500 billion in charges and losses stemming from the credit crisis — a figure that some specialists say could eventually exceed $1 trillion.
hoktula 3 years ago
Bush could legally take office again.GOOGLE "The Bush administration has released a directive called the National Security and Homeland Security Presidential Directive." NSPD-51/ HSPD-20 " The language of the May 9 directive appears to negate any a requirement that the President submit to Congress a determination that a national emergency exists, suggesting instead that the powers of the executive order can be implemented without any congressional approval or oversight.
SilverWealth23 3 years ago 2
Ezekiel 7:19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
octdavian 3 years ago 2
Another nightmare on Wall Street: Dow down 450
(AP) About $700 billion in investments vanished.
hoktula 3 years ago
Japan, Australia Inject $33 Billion to Soothe Markets (Bloomberg)
Global central banks from Tokyo to Frankfurt have added more than $200 billion since the beginning of the week.
The U.S. Federal Reserve yesterday added $50 billion in temporary reserves to the banking system, while the European Central Bank awarded 70 billion euros ($99.8 billion) in a one- day money-market auction. The Bank of England pumped in 20 billion pounds ($36 billion).
hoktula 3 years ago
Asian central banks spend billions to prevent crash (IHT)
Central banks tried to prevent the Wall Street upheaval from freezing the global financial system... The region's banks spent nearly $27 billion.
European central bankers inject cash into markets.(IHT)
The European Central Bank lent €30 billion, or $42.5 billion, to banks. The Bank of England said it will also lend £5 billion over the next three days at a 5 percent interest rate.
hoktula 3 years ago
iht. com/articles/ap/2008/09/16/business/NA-US-Mortgage-Giants-Foreign-Lending. php
"in July, the U.S. actually saw more foreign capital flowing out than in... Foreigners sold $25.6bln of U.S. long-term securities...
foreign central banks dumped $50bln in Fannie, Freddie securities...
Fannie & Freddie own or guarantee about $5trln in mortgages, about half the nation's total.
$1.5trln of the $7trln in debt issued by Fannie, Freddie is held overseas
hoktula 3 years ago
No offense, but this panic is worse than Y2K. With that said, buy lots of firearms, bury ammo, etc. : P
p.s. - EVERYONE has an agenda.
p.s.s. - This is all being done on purpose.
p.s.s.s. - The U.S. isn't even in the top 10 when it comes to national debt size. Also the U.S. isn't in the top 25 of countries when its comes to personal debt as a percetage of GDP. Which is good. Canada for example is #1.
Bottomline, the sky isn't falling. We all need to take a giant collective breath.
myhalo123 3 years ago
myhalo123
look on WIki "List of countries by external debt" ;) USA #1 with $13.8 trillions !
"'External debt' is defined as the total public and private debt owed to nonresidents repayable in foreign currency, goods, or services"
Total U.S. household debt, including mortgage loan and consumer debt, was $11.4 trillion in 2005.
hoktula 3 years ago
I looked online too, except my numbers were from 2007. Thanks.
myhalo123 3 years ago
US Treasury Secretary Henry Paulson vowed Monday to take steps to maintain stability in US financial markets, as the failure of US banking titans sent global markets into a slump.
"I am committed to working with regulators and policymakers - including Congress - to take necessary and appropriate steps to maintain the stability and orderliness of our financial markets," Paulson said in a statement.
"And I will engage with regulators and policymakers around the world to that end," he said
coultrane 3 years ago
Maria Bartiromo
"Your money is protected, you should have no fear."
Jim Cramer
"If you have any money run toward the panic."
coultrane 3 years ago
About time for another change to the Constitution of the U.S., isn't it? (sarcasm)
What is it Barney Five says? NIP IT! NIP IT IN THE BUD!
I don't know about all the conspiracy stuff, but what I do know, is the facts, and what facts are showing, is some major corruption and it's got to stop!
KMSbear 3 years ago 2
Everyone should already be stocked up on food and ammo, if not GET YOUR ASS MOVIN AND STOCK UP YOUR PANTRY AND AMMO ASAP!!!
lostinthemix 3 years ago 3
Unfortunately, lostinthemix, I agree with you.
BTW All, SPOT SILVER IS UP TODAY, hitting $11.16 at 11:52 A.M., EDT
MzProgressive 3 years ago
i really think its time to stop looking at numbers...just prepare, prepare, prepare...their will be no easing down "soft landing"...its to our advantage though...we have longer to get ready...
centervilletn 3 years ago 2
Argh! Play me a durge, Matey!
Duhh duh duh-duhh, duhh duh duhh duh duhh duh duhh
And prayers for all those struggling, out of power, broke, sick, away from their homes...
KMSbear 3 years ago 3
its being reported on NPR that FEMA is not helping anyone who has not lost their homes in texas (Ike). that includes water and ice...guess they arent too big to fail
centervilletn 3 years ago
from Biz section on NY Times:
"2 Wall St. Banks Falter; Markets Shaken"
Firms to watch on Wall Street for 15 September:
American International Group (AIG) - seeks $40 billion from Federal Reserve
Washington Mutual - believed to be at risk
(from: Monday, September 15, 2008
Black Monday 2008 , Jotman blog)
hoktula 3 years ago
Lehman Lists Debts Of $613 Billion In Chapter 11 Filing Monday
Lehman Brothers Holdings Inc. (LEH) filed for Chapter 11 bankruptcy Monday in New York, listing debts of $613 billion and naming as unsecured creditors owed hundreds of millions of dollars banks from Tokyo, Hong Kong, New York, Singapore and Taipei, among others.
coultrane 3 years ago
Government data show the nation's industrial output plunged in Aug by nearly four times the amount that had been expected. It's the worst performance since Hurricane Katrina devastated the Gulf Coast in 05.
The Federal Reserve reported Mon that industrial output dropped 1.1% last month, far worse than the 0.3 % decline that economists had been expecting.
The weakness was led by an 11.9% drop in production of motor vehicles and parts, reflecting the hard times facing the U.S. auto industry.
coultrane 3 years ago
So, the big question is this? HOW IN THE WORLD CAN B OF A take on MERRILL AFTER BUYING COUNTRYWIDE!!! The answer is they can't. TOO BIG TO FAIL is the BUSINESS PLAN FOR B OF A.
coultrane 3 years ago
Well, they bought it ... obviously they must had looked at Merrill from all aspects and thought $50 billion is a bloody good bet.
So basically we have 3rd, 4th, 5th largest investment banks in USA went under this year so far. Then 2 largest GSEs .. WOW .. I was thinking Bush's PPT would try to postpone this till after election. What happened? Amazing, USD still goes up.
Kelvin701Lakeland 3 years ago
The liquidation of LEHs assets will force the other brokers to mark down their assets accordingly and therefore pressure all capital ratios. She adds, a propos of the steep decline of the stock futures markets in early trading Monday, that she expects financial markets to be under unprecedented strain over the next several days as players respond to outsized industry deleveraging.
coultrane 3 years ago
Washington Mutual is toast. The vultures are waiting on the sidelines, eg jp morgan.
China's central bank announced Monday a cut in a key interest rate aimed at stimulating growth amid easing inflation.
The bank said it was lowering the rate on one-year yuan-denominated loans by 0.27 percent.
The People's Bank of China also cut the share of deposits that banks must hold in reserve by 1 percentage point starting from Sept. 25.
coultrane 3 years ago
"It's clear we're one step away from a financial meltdown," said Nouriel Roubini, chairman of the consulting firm RGE Monitor.
sbmillionair 3 years ago
VV, if you are able, please post an emergency video about the failure of LEH and the buyout of MER. I know alot of us are feeling like this will lead into the financial collapse.
SlyJunt 3 years ago
youtube. com/watch?v=ZM2QXmeRGcA
sbmillionair 3 years ago
VV, you mentioned foreign stocks as part of your diversity of wealth. Would you suggest two or three companies you're comfortable with presently, given our present circumstance.
Thanks for sharing your knowledge, experience and recommendations!
richintucson 3 years ago
tomorrow could go down in the history books, buckle your seat belts.
sbmillionair 3 years ago
I'd hate to be a deflationist who bet on the strength of the dollar. Looks like the manipulation up of the dollar has run its course. Paint the tape and lead the hedge funds by the nose, tricking all the deflationists. Disinflation and deflation are not the same thing. Tough lesson to learn. How far is the real printing away?
mr1fed 3 years ago
back in july there were many predictions of 5 dollar gasoline by september. many of us who post here argued this...funny how it still came true even though oil has dropped significantly ...the die was cast i suppose...
centervilletn 3 years ago
Bank of America just bought Meryill Lynch. Huge impending job losses fo Meryill.
kidbilly1970 3 years ago
I think we're gonna see the return of Jesus Christ before the end of September 08'
Mojopokey 3 years ago
What would you do if Jesus returned after September 08'?
Remember that Jesus said the last days would be like the days of Noah? (I think it would be better to emulate Noah to warn the people and prepare for the worst and hope for the best!)
Peace!
yinghonghaohan319 3 years ago
Japan, Hong Kong, China and South Korea. These markets will reopen Tuesday. They are closed for holiday.
Someone is pulling a fast one.
coultrane 3 years ago
perfect timing for the gov to enact the 6900 protocols ....
centervilletn 3 years ago
I didn't know what 6900 protocols was and had to look it up.
Here it is for anyone else in the dark:
rense. com/general80/protc. htm
jcwitness 3 years ago
Sweet niblets.
I just read the entire article I had posted.
It is BAD, folks. (and was written 6 years ago).
quote...
Furthermore, he intimated (and I suspected that this was coming, although this wouldn't actually become law until Bush-Cheney was in office for second term one way or another) that the Bush-Cheney regime determines that the Gold Confiscation Act gives to Treasury the power for so-called forced disclosure of gold holdings.
This has happened this year, what else is fulfilled?
jcwitness 3 years ago
American International Group will announce an asset sale or capital injection as soon as tonight, or sometime tomorrow, CNBC has learned.
The insurance giant, which declined comment, is pursuing a three-part plan to raise $50 billion in liquidity. It is trying to raise billions from private equity firms, and is also in talks with Warren Buffett, CNBC has learned.
coultrane 3 years ago
Lehman is done (CNBC)
SilverWealth23 3 years ago
Yup....They're toast.
Mojopokey 3 years ago
U.S. asset prices sank late Sunday as talks to sell Lehman Brothers faltered, with the first official transactions of a new business week pushing stock market futures sharply lower in New York and the U.S. dollar sinking in the opening salvos of currency dealing in New Zealand.
"The extraordinary trading session held today to facilitate a partial unwind of these positions saw very little trading -- perhaps $1 billion total -- but at much wider spread levels for corporate bonds," Gross said.
coultrane 3 years ago
NEW YORK - Bank of America Corp. and Merrill Lynch & Co. are in talks about a possible combination of the two financial companies, according to an official with direct knowledge of the talks.
coultrane 3 years ago
barclays pulled out holy shit!!!!!!!!! dude-just saw it on yahoo news -what does mean-
mjc1377 3 years ago
Get ready people it's all coming down hard! Stock up on supplies I can't stress this enough. It could be complete chaos in a few week we don't know. We Canadians should be ok for a bit longer but not much. This tsunami is going global, hang on folks!
lyradguitar 3 years ago 2
Think about it people, Lehman not being bailed out. Who is begging uncle Ben next?
WaMu, GM, etc.. anymore bear market rallies spewed by the Talking heads or money honeys? I think not. Now it turns I predict get yourself prepared. I have silver, gold, cash, guns, gas, food, generators, and passports. still trying to sell off some of my investment assets to have more cash. But when the stock market tanks. I am outta here that instant. If they shut down borders immediatley then we shall see.
Repomex01 3 years ago
I hope you plan on having some platinum fashioned into beltbuckles and suitcase trim. Wealth will be likely confiscated at border (I heard something a month or so ago about trying to prevent wealth leaving country). Never can be too careful. Besides, nothing says cowboy like a 5 pound belt buckle that doubles as a dinner plate.
jcwitness 3 years ago
"Lehman, Bank of America, Merrill and Idiot Nation": watch?v=dDMce1USTB4
livefree1789 3 years ago
Keep an eye on Asia and Europe. Barring some unforeseen event or a massive attempt by the PPT we could see 500 pt drop or more.
coultrane 3 years ago
watch?v=4wxeBBYE8pk
BendoverBernanke 3 years ago
Dollar tumbles after Lehman talks falter
WELLINGTON (Reuters) - The U.S. dollar tumbled in early trade on Monday on increasing worries over the U.S. financial sector after talks to sell Lehman Brothers Holdings (LEH.N: Quote, Profile, Research, Stock Buzz) faltered over the weeken
coultrane 3 years ago
"I think it is a significant challenge to guess at how the major paper currencies of the world will perform relative to one another in this environment. But I don't see how this performance is critical to a thesis of deflation. What is critical is that all paper will fall in value relative to physical goods. This implies price inflation at the same time as we have monetary deflation."
Ricks Picks January 13 2006
BendoverBernanke 3 years ago
It is now clear that we are again as we were in mid- March at the time of the Bear Stearns collapse an epsilon away from a generalized run on most of the shadow banking system, especially the other major independent broker dealers (Lehman, Merrill Lynch, Morgan Stanley, Goldman Sachs). If Lehman does not find a buyer over the weekend and the counterparties of Lehman withdraw their credit lines on Monday (as they all will in the absence of a deal) you will have not only a collapse of Lehman
coultrane 3 years ago
but also the beginning of a run on the other independent broker dealers (Merrill Lynch first but also in sequence Goldman Sachs and Morgan Stanley and possibly even those broker dealers that are part of a larger commercial bank, I.e. JP Mand ). Then this run would lead to a massive systemic meltdown of the financial system. That is the reason why the Fed has convened in emergency meetings the heads of all major Wall Street firms on Fri and again today to convince them not to pull
coultrane 3 years ago
the plug on Leh and maintain their exposure to this distressed broker dealer.
Nouriel Roubini
China opens in a couple of hours. Traders stuck in bad positions may get obliterated
coultrane 3 years ago
Hi vision,
If you google Lehman Brothers blue pill (or blue pill) there are so many articles which refer to taking either of those colored pills, which goes to prove you were or are way before your time. You made that video re: Matrix months ago. I bet these commentators watched and learned from your videos way back when.
Any chance of a new video tonite?
secretorchid 3 years ago
If Lehman collapses expect a run on all of the other broker dealers and the collapse of the shadow banking system
Nouriel Roubini | Sep 13, 2008
coultrane 3 years ago
AIG, the world's largest insurer, will address Wall Street on Monday to allay fears about its future in a move that could involve the company using large asset sales to raise capital.
AIG's shares lost a third of their value in trading in New York on Friday after Standard & Poor's threatened to downgrade its debt. Robert Willumstad, the chief executive of AIG, is already scheduled to publish a trading statement for the insurer today. He is also expected to host a conference call for analyst.
coultrane 3 years ago
Update. Reuters reports that Bank of America (NYSE: BAC), which had been considered the prime bidder for Lehman, has withdrawn its bid. "I've just heard from a person familiar with the negotiations that Bank of America is no longer in the bidding for Lehman Brothers,"
It looks like no one will take Lehman to the dance. Should be a fun day on wall st. tomorrow. Especially for day traders who are holding positions.
coultrane 3 years ago
hey guys, we have a new subscriber :)
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
visionvictory 3 years ago
Hilarious...
Greenspan is proving himself to be quite the pragmatist.
coultrane 3 years ago
We are in the midst of a HyperDEFLATIONARY collapse. What the government does after that is up in the air but in the short to intermediate term we will experience nothing but a deflationary collapse. Buy all the gold you want but it will not protect you from a global deflationary collapse.
Ouirallwun 3 years ago
I think one could make a strong argument for hyperdeflation. BUT, the argument that the us dollar commands top respect as foreign lenders get their asses handed to them is tenuous. Your argument rests on a strong dollar. It also collapses under a debt default.
coultrane 3 years ago
The dollar would collapse if the problem were confined to America but it is not. It is a global problem that needs global solutions. Take a look at the global markets and economies, they are all hurting. Globalization has left the world too interconnected just as all of the Wall St. Banks are. Thats why the government is trying to head off a problem by protecting banks with extreme counter party risk. Hopefully there will be more regulation in this area ALSO in the future.
Ouirallwun 3 years ago
my small wealth roulette table hedge 1/2 metals 1/2 cash unless you can come up with a better option?
Repomex01 3 years ago
Finally someone who doesn't see gold as the saviour.
Quantrill71 3 years ago
You sound just as dogmatic as the gold bugs. Let us agree on one thing, there will be a flight to safety.
coultrane 3 years ago
If you don't quite get what I'm saying think of our nation as the richer people in the u.s. If we lower our conditions others will raise theirs and it may make a good balance, because face it, all this crap we have that we don't need can be sent to other people who do need it.
djpoppyt 3 years ago
You know I live in the u.s. and I think, as bad as this could be, it will be a blessing in disguise for the rest of the world. If the u.s. doesn't consume all these recourses then other nations will be able to. I think that lower living conditions will cause an equilibrium. Our country has been hurting others with all this cheap labor being used to support our economy, and it has caught up. Think of it as a cleansing of living beyond our means.
djpoppyt 3 years ago
NEW YORK - An emergency trading session has been opened between Wall Street dealers with Lehman Brothers counterparty risk.
The session will run from 2 p.m. to 4 p.m. and will involve credit, equity, rates, foreign exchange and commodity derivatives, the ISDA said in a statement.
"Trades are contingent on a bankruptcy filing at or before 11.59 p.m. New York time Sunday," said the statement. "If there is no filing, the trades cease to exist."
BendoverBernanke 3 years ago
This has been flagged as spam show
Still no resolution to the Lehman brothers bailout as Barclays passes on buying "good assets" from Lehman. Check out the article. (REMOVE THE SPACES)
money . cnn . com/2008/09/14/news/companies/lehman_brothers/index . htm
markymarkuss777 3 years ago
Sept. 14 (Bloomberg) -- Barclays Plc, the U.K.'s third- biggest bank, said it abandoned talks to buy Lehman Brothers Holdings Inc., contending it couldn't obtain guarantees to protect against potential losses at the U.S. securities firm.
In other words, if the US won't absorb the bad debt, then no deal.
Free Market capitalism at its best.
coultrane 3 years ago
Wow, even Greenspan is stumped
ww w. bloomberg. com/apps/news?pid=20601087&sid=abW44c_UeuH8&refer=home
hunt1803 3 years ago
The simple truth of the matter is that America is a plutocracy. One need only look at the recent history of corporate bailouts over the last 30 years. To suggest that Americans are free is as ridiculous as saying that they are homeowners when they have 30 years of payments left on their homes. At least share croppers got 40 acres and a mule. Today Americans owe their lives for .2 of an acre and a boat load of debt. Their future has been sold down the river by the wealthy.
coultrane 3 years ago 3
sorry, you NEVER own property in the USA. Badnarick taught some courses on this (BTW, he is the biggest computer nerd you will ever know as he designed the code powering the Nuclear power plants).
Remember, emminent domain isn't just for 'government use' now. Hotels can take your property if they want it. Stop paying property taxes, and that $5,000 debt will cost you your $350,000 property.
Land of the Free?
Wealthy didn't sell us out. Our politicians like Woodrow Wilson did for nickels.
jcwitness 3 years ago 2
The problem is that the whole world system only works if numbers go higher. Any reduction in the size of the numbers will pretty much destroy the whole thing. That is what we are seeing.
In the past, numbers went up until there was no more money, somewhere in the late 70's. Since then, the whole system has been financed by imaginary money called debt. Now we can't even imagine ever being able to pay it back. Collapse, implosion, downfall, Hell coming to breakfast, you pick one Teller3448.
1693B 3 years ago
I think the word 'collapse' that is endlessly repeated is too strong.
You have to remember that Americans are living in a state of extreme excess compared with most of europe, and that a downturn of 30% will only bring them down to a sane adequate normality.
Teller3448 3 years ago 2
check out this link about what will happen if Lehman Brothers fails (REMOVE THE SPACES)
forbes . com / reuters/feeds/reuters/2008/09/13/2008-09-14T004831 Z_01_N13304110_RTRIDST_0_LEHMAN-WRAPUP-3 . html
markymarkuss777 3 years ago
Obedient citizens! Why so much pessimism?
Paulson is former Chairman and CEO of GS and very close to the Chinese government. Don't believe those rumours that he designed the FRE FNM rescue to help his banking and Chinese friends at the expense of the American taxpayer. Don't believe those nasty rumours that he has abrogated federal accounting standards in order to deceive you, the trusting sheeple. Don't call or email your broker to close all positions in your portfolios. Trust us!
lc501 3 years ago
I did not comment on the ways he is going about doing his job, only that he is doing it. Bernanke and Paulson are faced with problems of the proportions we have not seen since the great depression! And you guys are going to sit here mocking and ridiculing them as if you know what the best solution would be for the American people? Give me a break.
Ouirallwun 3 years ago
And why are we facing problems we have not seen since the Great Depression? This financial system, this economy, that serves the upper quartile of the top 1% is a complete joke. Most of us here recognize it is going to go up in a puff of smoke despite what the Fed/Treasury does or doesn't do. Every action they take now only delays the final outcome. What is the best solution?
LET THEM ALL FAIL.
Oh that's right, it's socialism for the rich and free markets for the poor.
Trazom24 3 years ago
Union Busting helped to pave this path, IMO. Which is a big reason why Big Biz was so willing to rush to foreign manufacture - no labor laws, no bargaining issues.
The middle class lost its power at the free market table.
MzProgressive 3 years ago
I agree with you we are headed for some kind of doom scenario.
jannonymous 3 years ago
Bernanke and Paulsen sprung a trap, how many took the bait and bought into commodities just before they tanked. These guys are good. They are the "big boys"
mikemb123 3 years ago
Are you kidding me? Bernanke and Paulsen have FAR more to worry about on their plate to spring traps for foolish investors. SURPRISE! There is actually a whole lot of complication in the world of global finance and Bernanke and Paulsen both have their hands full to have the time to "spring traps". Get with the picture.
Ouirallwun 3 years ago
I agree.
Besides, as far as "commodities tanking" - that game is far from over.
MzProgressive 3 years ago
The Washington Post: 'The White House budget office said yesterday that it has decided not to incorporate mortgage-finance giants Fannie Mae and Freddie Mac into the federal budget, citing the temporary nature of the Treasury Department's takeover and "the level of federal ownership" of the firms.' What a bunch of crooks. This is akin to having a secret credit card with a $1 Trillion balance.
livefree1789 3 years ago
livefree-
IMHO, I afraid it is worse than that, as ""it has not "actually" borrowed..."since" March"". This means they have borrowed (how much?, who knows) and yet have stopped borrowing since March. This begs the question: why? One answer would be that the decision makers concluded that it would not have made any difference. That begs a further question, why then stop borrowing if Leh would tank? Mitigate the consequence...less people get indicted for fraud. Again, IMHO.
txnc65 3 years ago
The New York Times: "Lehman has had the power to plug any cash shortfalls by borrowing from the Fed, though it has not actually borrowed any money from the program since March." WHAT?! They had access to basically free money and didn't take it?!! HUH? It's like they want to fail, like that was the plan all along...
livefree1789 3 years ago
The Amero will not happen.
I like alot of your videos and much of your other predictions but this one is just plain wrong. Canada will not agree to it.
The US dollar will lose much value- true. But because all the other countries will lose also the RELATIVE difference will be muted.
updownleftrightinout 3 years ago
This is not so much the fall of the US as it is the rise of China and other creditor countries. Remember, all countries are inextricably tied to the US economy. The saying "The US sneezes and the rest of the world catches pneumonia" is true.
Countries that are creditors have tried to inoculated themselves against the US downfall but the situation is so complicated predicting the future becomes a crap shoot.
The government will go to great lengths to "pace" the inflation. Too fast will kill
updownleftrightinout 3 years ago
Looks like I'm right and you are wrong so far.
Your doomsday words have been way over the top and can rightly be labelled incorrect.
Now I may be wrong but I think a continued slowdown will occur which will be tempered with the stimulus (its not all spent). Hyperinflation will not occur.
I haven't watched your videos for a while, but it was this one that clued me into what a nutcase you are.
updownleftrightinout 2 years ago
updownleftrightinout -
You are KIDDING yourself! First, take a look at the picture of that woman on your Canadian Bills... Then, please recall that GB has entered into the Eureopean Union and IS using Euros as we speak.
This has NOTHING to do with "Government" and EVERYTHING to do with who PRINTS your Cash! THEY are the Real owners of your currency! Why do you think Canada and GB sent troops to Iraq "in solidarity" with the U.S.? There are bigger forces at play here.
MzProgressive 3 years ago
Canada???? Canada is not a big player at all, the only reason they entered Iraq was they were forced to by the US. Since we buy all of Canada's oil,they were obligated to conform.
Quantrill71 3 years ago
Canada?? We don't have troops in Iraq!!!
Thiswasjustyourlife 3 years ago
You have it completely backwards. Go to this link and note the date is from 1999. This has been on the table in Canada for well over a decade.
fraserinstitute. org/ Commerce. web/ publication_ details. aspx? pubID= 2512
mr1fed 3 years ago
JUST BOUGHT SOME SILVER-
mjc1377 3 years ago
mjc1377 -
What was the surcharge, if any? Also, general location where purchased? If you don't mind sharing?
MzProgressive 3 years ago
please share were and how much. Thanks.
davincij15 3 years ago
HEY! Heres a conspiracy theory that actually makes sense. Hyperdeflation sets in, Everyone defaults and the banks own everything. After the banks own and get back every thing thats physical Hyperinflation sets in to pay off the government debt. Its a win-win situation for the super elite and makes a shit ton more sense than hyperinflation right off the bat which would allow every indebted American to own everything they dont and shouldnt. Let me know what you think.
Ouirallwun 3 years ago
Ouirallwun I reached the same conclusion after countless weeks of analytical study and observation.. it is diabolical and very clean checkmate endgame move.
Repomex01 3 years ago
Ouirallwun - HyperDeflation causing default? Are you speaking specifically about the housing market? (As I understand it, hyperinflation means you are paying off debt with cheaper dollars - that is, if you have them.) Please explain?
MzProgressive 3 years ago
Yes, Hyperdeflation ala the Great Depression. Extreme Unemployment. Credit money dissappears, bank runs happen, people have practically no money. This chronically credited populace defaults on everything they own on credit (including houses on mortgage). So practically no one has anything. After the banks get all of this back then the government defaults on its debt and hyperinflates the currency so that its the worst of both worlds for the people.
Ouirallwun 3 years ago
except the goverment and banks better get some chinese military folks in here asap...because their will be a civil war...or revolution...deposess 100 million people and see if they dont pick up guns and matches....
centervilletn 3 years ago
Emergency meeting held to discuss Lehman Brothers
WASHINGTON (AP) -- The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers.
Looks like Paulsons bazooka is getting plenty of use.
coultrane 3 years ago
Yep I remember you saying between September and February 2009...Another awesome video...
pookiroo 3 years ago
Use caution. Don't try to time the collapse. Even without all the economic data, Revelations talks about the great tribulation, so it's a guaranteed event, we just don't know when. When you see a pregnant woman, you don't know exactly what day she will give birth, but you know from the signs when it will be approximately. Same here. Economic data shows soon could be real, but 20 years from now isn't impossible either. Just be prepared as best you can. Reduce how much you will suffer.
elpilotoazul 3 years ago
Small relation(lol). Another thing I find interesting is I have a friend former Army buddy of mine. His wife is in nursing school and she is expecting to make between 60-85,000 a year starting out, so they are not worried about the coming events because they are "safe" from the fall out. Nobody has touched on the fact that we will not have enough money to even pay the medical industry, they are overpriced already with bloated salaries, what happens when the fall out comes?
Quantrill71 3 years ago
Quantrill71. Any relation to Quantrill of the Civil War South?
I 100% agree that people can survive on this planet without oil. Just not all of us. Only about 1/3 of us.
That's the part that has me twitchy.
1693B 3 years ago
If any of you got Peter Schiffs latest email, he says that we would be in real big trouble financially if the Fed didn't bail out Fannie and Freddie. The Fed is simply delaying the worst case possible.
gmoney415 3 years ago 2
Oh yeah, I agree but the reserves we have left are becoming harder and harder to access and someday, maybe in a hundred years or less, it will run out. When you really think about it, there is nothing else to replace it.
To manufacture any kind of substite in the quantities that we will need will take massive amounts of energy. Hydrogen is a possibility, but we can't make roads, roofs, plastics synthetic rubbers and all the other good stuff out of hydrogen. Solar won't run a jet or train.
1693B 3 years ago
I had always thought that it was the Industrial Revolution that had led to our population explosion. I never realized that the Industrial Revolution never would have happened if it hadn't been for oil and coal.
Without oil, the planet simply can't support six and a half billion people.
It's a sobering thought. Fighting over oil isn't about money and big business, it's about survival.
I just never looked at it like that before.
Can anybody think of a rebuttle for this idea?
It worries me.
1693B 3 years ago
The general populous can't live without oil. The world economy is based on oilhe , but small rural communities can survive without it. Life is much harder but possible (just ask the Amish). Have a look at the website or google "post caron institute" they discuss how people can survive in the absence of oil and form alliances in small communities and cities to help each other out when the time comes.
Quantrill71 3 years ago
i live in the rural south...and have menonites in our community...those god fearing folks who wont drive a car because its a sin but dont mind riding in yours and encouraging you to do what they believe is a sin...but anyhow...they use plenty of oil...fertilzer, pesticides, herbicides..and other farm products, textiles they buy from walmart that was transported from china..and dozens of things you dont think about..they are not the wholesome people you might think..nor are they environmentalist
centervilletn 3 years ago
You got that right I see the menonites (Dutch ancestry) Northen Mexico ones at the dealer auctions here in texas. Also one was beheaded in Merida (Cancun)area by rival drug cartels. Yep real God fearing folks.. Gimme a break.
Repomex01 3 years ago
Mennonites almost always drive cars (and Beechy Mennonites drive only black cars).
I think you are referring to the Amish.
They actually forked off the Mennonite church because the Mennonites were not conservative enough.
Some sects allow computers, fax machines and electricity..as long as it stays in the barn and NOT in the HOUSE.
I know their communities and culture quite well. It took me years to realize that they are not anti-technology, but anti-SYSTEM...
jcwitness 3 years ago
Then we will be back in the days of "Little House on the Prairie"
sthrnynk 3 years ago
I read an article by some guy the other day that is giving me a whole new way of looking at things. He said that there is only one thing that has allowed our population to reach over 6 billion on this planet.
Oil.
We use it for everything. Roads, roofing, plastics, industry, mining and smelting metals, agriculture, transportation and on and on.
There really is no realistic alternative. It's not just about gas at the pumps. We're running out. It's only going to get worse. When it's gone?
1693B 3 years ago
I suggest checking out Lindsay Williams videos on you tube, he says we are not running out of oil, there are massive reserves wich will soon be opened, oil will drop to 50$ a barrel.
mikemb123 3 years ago
You know....I'm not a conspiracy guy or anything but this whole idea of $50 oil doens't seem too far fetched with oil dropping in price.
gmoney415 3 years ago
I saw and heard the Lindsey williams Video's with the $50 oil- I'm not buying it, he has had some accurate predictions, but also some BS-He spends more time tellin Alex J about how he cant tell him whats gonna happen- as he's telling it- or they will "kill' him- then he goes on telling AJ everything- Nonsense- But lindsey does have interesting theories, but Not buyin it. He couldnt tell this stuff if it were true. Unless he's dead, but he's not
chromedreamz 3 years ago
There are massive reserves, but not compared to how much we use, We consume 31 billion barrels a year,Brazil just found that much last year, So its 1 yr extra supply,Anwar has 15 billion, But producing these fields will only prop up production while others decline,
keithholden 3 years ago
We were told by a customer that several stations were already out of gas.
sthrnynk 3 years ago
Gas at 8:50am (ct) 3.59 at 10:00am 3.99 at 5:30 pm 4.19 So glad I'm only 3 miles from work!
sthrnynk 3 years ago
Strange, Storm hasn't even hit and there is a shortage. Prices jump. People are scared.
If we don't get a gov't that will take a stand on this stuff, It will get get worse. Prepare People, we are all we have, help the elderly and the very poor.
Rev. Lonnie
rlmccullough 3 years ago 2
Word up, folks.
THERE WILL BE GAS SHORTAGES. RATION WILL TAKE PLACE. THIS WILL HAVE AN ENORMOUS IMPACT ON AN ALREADY FRAGILE ECONOMY.
PLAN NOW!!!
coultrane 3 years ago 2
Sputtering Economy May Prompt Rate Cut
Let's begin with the timeliest release out Thursday, which is first time claims for unemployment benefits. New applications for jobless benefits filed the week ended Sept. 6 slipped marginally to 445,000, from 451,000 the previous week. This is the eighth consecutive week new applications exceeded 400,000, which is the range typically associated with recessions.
coultrane 3 years ago
Washington - Has the US entered a new era of government bailouts for business?
First, Uncle Sam intervened to rescue investment bank Bear Stearns. Then last week the government took over failing mortgage giants Fannie Mae and Freddie Mac.
Now Lehman Brothers is tottering raising the prospect of another US salvage operation. And the Big Three automakers are in Washington this week with hats in hand, asking for loans to finance development of more fuel-efficient vehicles.
ONE WORD BULLSHIT
coultrane 3 years ago
they won't sale the newest car they have to usa!they will sale it in the uk though! 65 mpg
rlmccullough 3 years ago
Pretty sad, the market is down to only being able to rally off of bail outs and rumors of bail outs. ROFL
Everything is down, but the dollar, this is better than going to the improv on a first date. LOL
visionvictory 3 years ago
In North Carolina:
Silver American Eagles, $5.00 over spot (take it or leave it.)
txnc65 3 years ago
$5.50 over spot in Metro New York - try to talk you out of taking it!
MzProgressive 3 years ago
gold and silver will be used, but this is there planed opportunity to introduce the Amero. DON'T FALL FOR THE SAME PROBLEM!
nasanction 3 years ago 2
ive been trying to brains torm what i could do if i lose my job. there is a great youtube video on how to build your own wind generator, if shtf maybe i can build them for my neighborhood in exchange for food or services. i am looking for suggestions or ideas that anyone else might have for being productive in the future economy, other than farming of course. I was also thinking of stocking up on alcohol and cigarettes, they would be a powerfull currency as valuble to the addict as gold or food.
jlmiller77 3 years ago
Good plan with the booze and cigarettes. I also never pass up a chance to buy Bic lighters when they are on sale. Coffee and tea are good ones. Salt, spices, toothpicks, toilet paper is bulky but if you have room, it would be a nice treat for somebody who didn't have any. Knives, nylon cord can be used for anything including shoelaces, rope, gloves, and so on. We take a lot of little things for granted.
You might make a living as a small scale general store. Trade and barter. No tax.
1693B 3 years ago 4
Coffee is a great one. I could live without, but sure love my coffee! LOL And headaches if you go cold turkey. Thanks goodness to VV, because I stocked up on coffee months ago when started to read his vids, and already had to dig into that supply.
KMSbear 3 years ago
Bought the alcohol and the MYO ciggy machine - got tobaccy & tubes! Yeah, I agree, toilet paper and sanitary pads will be huge (no joke!) - add drawstring trash bags, candles and batteries to that barter list and you could own the neighborhood by the time it's over.
MzProgressive 3 years ago
WM downgraded to junk status.
Washington Mutual was downgraded to below investment-grade status by Moody's Investors Service, after the largest U.S. savings and loan projected a $4.5 billion third-quarter increase in reserves for bad loans but said it has more than enough capital.
coultrane 3 years ago
CNBC POLL
Should the government take over Lehman Brothers?
Yes
No
Don't Know
This is a real poll, folks.
coultrane 3 years ago
My guess, is that Lehman will be taken over this Sunday. Just a guess, we'll see. :)
visionvictory 3 years ago
Wamu announced today they have sufficient liquidity to continue operations.
In other words, they are toast.
coultrane 3 years ago
Sounds like Bear Sterns 2 days before the big bail out. lol
visionvictory 3 years ago
I cant believ everyone is still bent on precious metals (you cant eat or drink them). It is the skilled labor that could benefit from this down fall on a barter system. I am working on a barter blog to match skills with needs and vice versa. Network will be the way too survival , not hording shinny metals that go up and down everyday in value. Get out of any major by at least 30 miles, if you are looking for safer places to go (MN,WI,OR,WA,ID,MT,ND).
Quantrill71 3 years ago
you can eat both gold and silver, or you can drink them in a tincture, many medicinal properties in both.
mikemb123 3 years ago
How come there is a shortage?
dbztiki 3 years ago
They said this morning that it's because of the hurricane Ike, but they haven't done this before, that I recall.
sthrnynk 3 years ago
Knoxville-area drivers are seeing more bags on gasoline pumps today as a petroleum shortage spreading throughout the Southeast hits local gas stations, groceries and convenience stores.
"We're working around the clock hunting. We're not even asking the price. It doesn't matter right now," Weigel said about his staff's efforts to locate supplies. "There is just no gasoline."
coultrane 3 years ago
All the world economies will collapse at the same time, the united nations will be given great power as all the nations come together, the complete collapse will be very short lived for good reason, the outcome will be peace and prosparity at last. It all will happen very quickly once it starts. If its not resolved quickly millions of people will easily die and that will not be allowed.
FXNorm 3 years ago
okely dokely then.
mr1fed 3 years ago
And George Bush understands what the American people are going though and care dearly about the 1 Million innocent Iraqies. Also Freddie and Fannie CEOs will give back their golden parachutes of 14 million. People who committed massive corporate fraud will be jailed and the Comex futures scam will be relieved and it's regulators jailed. Then we will all sing Christmas corrals and live happily ever after.
In other word nice dream.
davincij15 3 years ago
It sounds like this winter will be bad for all, to say the least.
sthrnynk 3 years ago
I just received a text from a co-worker. Gas shortage in Alabama (Gadsden, Birmingham are the two cities I know for sure right now). Signs posted on the pumps...10 gallon limit!
sthrnynk 3 ye