It might be too late, but getting a bunch of common folks in government might help.
Consider the movement GOOOH trying to field responsible, average Americans to run for the House of Representatives.
I don't see how they could muck it up any worse. Shoot, they might actually have some good ideas outside of the lobbyists and the behind the scenes manipulators.
They might have to put their families into hiding but hey, that is what founding fathers had to do.
Well, they may not be saving. They may be paying down debt, and/or they may be helping family members that are living on nothing but food stamps. So more of people's money is going to support multiple people and at the same time bills are increasing at a very rapid rate.
NO MORE LIBERALS. THEY FUCKED UP THE USA. get back on the gold standard. I'm not worried about the terrorists. I'm worried about our leaders....they scare me. Spam up!
So thankful for movies like I.O.U.S.A. and channels like yours. It helps people understand the reality of the situation. But there are two main motivators for people, 1) They move toward pleasure, 2) They move away from pain. The former is what got us into trouble, the latter CAN get us out, if we respond in the right ways, and act quickly. Otherwise we'll simply be in pain forever (or a long time) C'mon people, let's tell our elected employers what they need to do to stay on the job.
I would renounce, therefore, the attempt to create heaven on earth, and focus instead on reducing the hell.
( A. Alan Borovoy )
It looks like the End Times, folks. The Hour of Evil Incarnated. Against the ascendancy of such Evil cum Evil, ordinary folk can only watch and pray, and refuse to participate in the evil empire unfolding.
Except when it comes to jobs and feeding times ! Run like hell when the culling starts !?
It's not peaceful nights for the sheep before NIBIRU Passover time
I'm not too sure about the ills of cutting government jobs. Most of those jobs do not produce anything and there are endless bureaucracies that could be trimmed.
Peaceful Demonstrations and anything else an intelligent human being can invent. Not too likely now that we're drowning in aspartame, fluoride, GM foods and chemtrails.
Not only useless, but most gov employees are the scourge of the earth from the pit of Hell and bound to return. Toss MDs, pharmacy co's/reps in with them.
Hey Vision Victory move here to Ontario, Canada. We got money still, although no industry left, but we're still better of than the US. Until of coarse our next election when dumb ass Liberals get voted in
i'll assume your canadian. so STFU!!!!!!!!!!!! Stephan Harper is smarter at economics than micheal ignatieff. and what makes the conservatives ignorant? nothing can be more ignorant than voting for Stephane Dion. You screwed up once youll do it again
do you even know what they are letting the lumber companies do? and how bad they are screwing up the environment. Maybe you should learn about what they are doing before you start saying that the conservatives are the best at economics. Just because they know how to make money for themselves doesn't mean that they know how to run a country. They have screwed up more of the environment than any other party in Canada.
IOUSA does the math and proves the point, but it totally ignores the truth. The FDR New Deal / LBJ Great Society programs are pyramid schemes
The only difference between what Ponzi & Madoff did, and these $53 Trillion (2007) government socialism shams, is the REGRESSIVE (poor pay more) FICA tax, & that we were FORCED to participate
(Note: Congress is EXEMPT from these programs. THEIR salaries do not pay into them)
A CONSTITUTIONALY RESTRAINED government doesn't have these problems
VisionVictory you are one of the very few people I have seen and heard that actually has an accurate understanding of the problem. Every point you made here is right on target. Obviously you have been paying attention. Now if we can only get 290 million more Americans to do the same, there might be a chance, but as you say, the solutions are there but they won't be used.
The old saying that people get the government they deserve was never more true than today.
the American and western economy is collapsing because u dumn asses americans support i$rail that took u to the Iraqi war ..................THANKS GOD FOR PUNSHIN THESE BAD TEREROSTS so no more wars..soon americans will have to go to Vietnam and Iraq to search for jobs over there.......hahahahahaha
Yes, and the united states is going to bankrupt also. Here is my opinion if you have a lot of money spend it because it doesn't do you any good to save it. Inflation will destroy its value anyway.
I knew about this in 1995. Read Larry Burkett's Comming Economic Earthquake. He prediced it would happen in 2000. He was off by 8 years. People where mocking him.
It has to go wrong. You are 50+ trillion in debt, which you need to pay back, but can't, see. If you don't, the world will take you over, and start having their way with you. Better practice bending over.
Obama killed the US already: The Nr 1 suggestion on chance gov was to legalese hemp. Hemp has thousands of applications, free source of food, plastic, oil, paper, rope, a way to enrich soil, to make oxygen, grows faster than any crop and requires little maintenance even in the desert. For a hundred thousand years people used it. In stead the US is spending flabbergasting sums to lock away a million additional people per year.
But I thought Bush had already killed the US before Obama came in. Maybe Bush almost killed it and Obama just came in and stretegically placed a knife where the carotid is and finished us.
It doesn't have to go wrong. Obama represents a small elite, of course the rest of the so called rich will cry like the spoiled children they are but things could improve a lot from it. Currently Warsington is playing the planetary petroleum police. There are hundreds of technologies that can replace oil, bubble fusion and cold fusion have been choked to death by the US but it can potentially power the world. The alternative is war. *shrug*
When people live by a LIE and continue to ignore the Corrupt politicians and corrupt Banking system what can you expect. A total revolution is what is required to fix the planet.
The solution that DOES work for for national debt in other countries is to literally bankrupt the country in order to start over. Or we can attempt to do what Japan does and decrease the value of the currency.
I think socialism is great. I hope your not trying to use socialism as an offensive word with a socialist?
Either way, if your more in debt then what you could possibly produce then do you actually think getting out of debt is supposed to be "fun"? It's fun running up debt, but to get out of it can cost big time, just like in real life.
We're already seeing many states who can't meet their own budgets and are asking for federal help. The huge decrease in consumer spending which is taking place, and will continue to take place will hurt corporate retailers badly. Profits will become huge losses and the stocks of these companies will fall. Foreclosures will become more widespread as people loose their corporate jobs across the country. You'll be seeing growh adults moving into their parents house and or vice versa.
IOUSA just came to (1) Theatre in my area (Des Moines, Iowa) a cityplex with over 500,000 people. I haven't seen it yet, but I can tell you one thing - we've seen the stock market drop from 14000 to 9000 in the past few months. The funny thing is, yes, consumers have cut some of their spending, but not nearly as much as they're going to cut in the next year. When the 1st quarter of 2009 retail sales begin coming in, the stock market is going to react with a huge fall.
Question: why are americans placing their trust in the good graces of people like the chinese, gulf arabs and russians??? Do you know that they are the ones providing most of your investment capital...are you nuts??
Wake up: they don't give a damn about you and won't come to your aid in your time of need. You've got to start saving enough to fund your own investment...and now.
My friend, you had it right the first time, the public is stupid, not ignorant. If the info is out there and you refuse to listen, that makes you stupid. If you spend on credit when you damn well know you should save, that makes you stupid. Like your channel. Subscribing.
YO! You right on Dude! F William Engdahl asked by Alex Jones when will da depression get here says, It's Here! It's HERE folks. YO! You right on Dude! F William Engdahl asked by Alex Jones when will da depression get here says, It's Here! It's HERE folks. F William Engdahl say IT IS HERE! DA D IS HERE! BUt da sheeple is still half asleep. When day wakes up an go to da store and find dey aint got nuff dinaro for some bread an milk...den dey WILL wake up. An den git ready cause sht hit da fan den.
i did cut back to the extremes. i live in a smaller home, my car is paid off (downgraded the suv to a corolla). i shop at goodwills or garage sells.i cook more instead of eating out.i dont use credit cards anymore.
I am so upset and depressed about the recent economic state of the USA....I am not sure what to do with the "cash" I have in the bank. I am afraid to buy gold at this point. I am thinking of just hiding it in treasury bills.
don't be sorry. the vast majority of us are stupid... ive been trying to get people to see that shits aobut to hit the fan for a coupel years now, but they would rather attack my character than listen to what i have to say. or will just say thats stupid and your wring without giving any information to the contrary... were gonna go thorugh it and i for wone am helpless being 21 with a job that rarely works me and noone around to lsiten and help prepare. guess im dying a slow painful death,oh well
Yeah. I'll be 21 this year as well and I'm stuck with a school job (they're about to cut back now) and tons of student loan debt as well as credit cards. It was a miracle that I stopped using credit a year ago and am on my way to being debt free.
I've come across the same reactions as you, and it's frustration to say the least. Especially when the people you're trying to help are the ones closest to you. :(
I am from the UK,i have been looking for videos and comments about this film,i am amazed at some of the video's,words like boring,boring,and,BORING,it is not supposed to be entertaining,WTF.
These Wall Street crooks rely on stoopid people. Stoopid people just allow the financial elites to use their retirement funds as their slush funds to get rich. This is all engineered. Washington and Wall Street heavyweights are getting their money now and then leaving all the stoopid people wondering where its all gone. Make no mistake - this is planned and pre meditated. Money doesn't disappear - it just goes from one place to another. And stoopid people like me just sit back and take it.
i want to know where the FED RES gets its money and lending power from. i assure you its not lying in gold bullion as the name "RESERVE" says it is. They lent 9+ trillion dollars to the US GOV, but still have money to pay out 85 billion for AIG??? This is a private company, not a US Gov run department. THEY CANNOT POSSIBLY HAVE THE MONEY, THEY HAVE A MONEY PRINTING LICENSE. ITS A COMPLETE FARSE
Trading deficiency 10x10^11$ not a unique problem of USA economy. There is more serious problem, quantity of monetary dollar weight at present already in four exceeds quantity of accessible goods & recourses on a planet, sooner or later, anyhow Russia & China will throw out all these dollars on wide market...
Can I ask you what was the critical point where you decided to post your videos, was it a slow decision or was there a critical point where you
felt compelled to educate and inform? When a group of my friends see me coming- a few of them immediately tell me they only want to hear positive things from me today. They don't know about F.Res., Fdic, any of the Mac's even though one lady said they had funds there but
And I hope you keep posting as long as possible to the bitter end.
I feel really badly for the next generation and their kids too. Me being a parent and many of my older friends just became grandparents. What a world to bring children into. Young people are forced to postpone their weddings.
Would you really like to be China. A country of over a billion people with only a $4 trillion dollar economy holding over a trillion in dollars. Where cheap energy is being depleted and you only have 60 million people doing well and another 200 million middle class while 800 million are living in abject poverty--under $2,500 a year. What happens when you bring another 100 million out of poverty expose them to freedom and then have a recession---might they revolt?
TGS, I mostly agree with what you say, but the reality is - Americans are getting poorer and poorer and the trend will not reverse. The standard of living in China and India is still lower that what US is and it is going to take quite some time to reach parity, if at all. It all comes down to population density, IMO I still think Canadians, Australians, the Icelanders and the Finnish are ahead of in terms of quaility of life.Too many people, too little resources.
>20. Don't ever doubt that it is going to happen. It might take a while or it might be tomorrow. The longer it takes, the worse things will get until something sets off a collapse. The trigger could be anything, natural disaster, civil riot, labor unrest, terrorist attack, but all at once the government will lose control. Quit worrying about it. Shut off the computer, go outside, breath the air, and enjoy how good we have it now.
Glad you liked my quote Tiff. I've got a million of 'em.
So glad you are posting here, people can learn from you or vice versa, or have a friendly trade of ideas. We're all waiting for vv's next vid.
Just came back from an upscale (beach area) flea market, I sold just enought to pay the rent and the commission for being out there from 7 am to 4: pm. So there seems to be more and more people entering the seller's market as there are people buying. It was neat to see people buying at the adjacent farmer's market.
Also it is for certain retail will continue to die down, as I've seen my own sales and other dealers' sales. More in/out turnaround at the antique mall as people desperately are trying to sell all the junk they have been collecting and trying to sell it for food, and necessities including me. Seems like all the
middle eastern people and the Chinese and Japanese are the only ones spending big bucks at the antiques/home furnishings venue.
How much evidence do we need? My judgement on us going overboard is that everyone should wait until Late spring of 09. Be patient, and live life. This to me is not a situation to make money, but a chance to preserve the money you have worked hard for. This economy is exactly like cancer- The patient may look fine on the outside, but one day his illness becomes known (the stage we are in) until finally the disease becomes more than the body can bear, and NO medication will cure him.
With the bailout of fannie and freddie looks like theyre trying to stall a collapse as long as they can. Even though I do believe it will happen, part of me wonders if it REALLY will happen, or are we all (including myself) just conspiracy nuts. And if it does happen, will it be years from now, or in a few months. Maybe it will just keep getting a little worse every week like weve all been seeing for many more years. Any comments intended to bring me back to reality are more than welcome.
The current administration will do whatever it can to avoid it happening on their watch. Unless of course they want it to happen on their watch in order to stay in office.
The next administration will start to talk down the economy and push recession/depression talk almost immediately after the election. The new administration will want this to explode as soon as possible.
I understand what your saying VV, but what would look better to voters? For the current party to look like ignorant fools for leting or making this all happen, or let Bush continue his dictatorship until we finally have an election whenever that would be. With a democratic congress I wonder if they would let him stall the elections, or impeach him?
I have read a little bit about almost all US Administrations. i have yet to hear of an administration come in and talk gloom and doom.---Carter talked about cutting back--see how well that worked for him. So no from a historical precedent the next president will be talking up the economy not down--favored supporters will be given priority to deploy resources which will in turn further a transition whereby non productive areas of the economy will wither and die as productive areas grow.
On the good note, there won't be any cause to have a run on banks yet. We have time. Maybe things will get better as most people don't know what this bail out really means, there will be a rally in the stock market for days before it comes down again.
taz you and many others have been saying that for some time now, but reality shows a different picture - one of people going about their normal daily business. There isn't any panic, no riots, no chaos. I don't see the ugly times you speak so much of.
see? the market is rallying right now as predicted. There is no run on banks. Actually bank stocks are up like crazy. There are so many people who are so stupid not really know what this bailout means to their pocket. This is why market rallies right now. But in the longer term it will come down again and drop hard and fast. I was asked if one should go to bank in the morning to get money and gold out from deposite box. I said NO, not yet. We have time.
The many start to panis as I speak. We have warned them and in their folly, did not listen. Too bad.
To the sons and daughters of the Republic:
We have spoken about the blindsided and the ignorant for months. The few, who have prepared, are now the wise. Take the knowledge, as the many need to be the guided now.
To those who have labored, that is you, the time of tears is upon us. As you all know, the Fed can print money all day long, every day, and can in no way support these insolvent businesses. Good luck and Godspeed.
So, to summarise, changed market conditions are to blame for the FRE FNM bailout. The GSEs were designed for 1930s market conditions. Congress have been given a year to redesign the GSE charters.
FRE FNM management are not liable for their use of creative accounting to paint a false picture of financial soundness.
Japan, China, Russia and other foreign creditors are screwed: if they become net sellers of US treasuries, the USD collapses and there is no alternative reserve currency.
It has been on a buying binge in the United States over the last seven years, snapping up roughly $1T worth of Treasury bonds and mortgage-backed debt issued by FNM and Fre.
Those investments have been declining sharply in value when converted from dollars into the strong yuan, casting a spotlight on the central bank's tiny capital base. The bank's capital, just $3.2B, has not grown during the buying spree, despite private warnings from the IMF.
WASHINGTON (AP) -- The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.
hey vision: a lot of decline even since you posted this vid 2 1/2 weeks ago. any chance of another vid` soon. dow at 11200, what is to say the big big slide hasnt begun. or is it just going to continue to be slow and painful, the epitome of deflation
Will try to post today, I've been out of town. I'm hitting as many vacations and family get togethers as possible I think it will be a slow decline until it hits the 9,000 range, then we could see some major moves down. I think were down to the last 6 months for the U.S. stock market dog and pony show. Once the markets collapse, what will follow weeks later is what really scares me.
I'd be curious to know what the 'under'employment stats say, if they have such. Being in the Real estate Business (appraiser) went from making decent 6 figures to - a LOT less, along with many in the business now working SH--TTy low paying jobs-Not unemployed. but may as well be. Im just hangin in their
what worries me is the increasing concern over deflation even amongst the gold bugs - a lot of good articles discussing it at marketoracle (dot) co (dot) uk - where do things stand in the inflation vs deflation debate and how will gold/silver fare in a deflationary environment..?
Remember, paper money is all about perception. The economy as we know it, is already crumbling. As consumers cut back, jobs will be lost and the doom will be set in. All the current dollar strength is based on false perception, the perception that the U.S. is in a recovery and that things are going to get better. The dollar will lose most or all of its value once the world markets realize the u.s. will never be able to pay it debts without debasing its currency.
In the end, gold and silver will hold real value as the dollar falls through the floor. The dollar is also rising because of the perception that foreign countries will also go in recession with the U.S., which isn't happening yet. Look at the retail sales for south east Asia and the south American nations. Yes, they may go into a severe recession as the world changes, but the fundamentals for their economies are strong. We have an economy that once down, will be down for a very long time.
The U.S. economy is one big giant bubble, based on constant credit expansion and consumers spending like crazy. That's over, and will not be able to be re-inflated since 70% of the jobs we have can not come back without people spending. People can't spend without good paying jobs or credit, so you can see the dilemma the U.S. is in. The U.S. will need a complete restructuring of its economy; the dollar strength will evaporate just like the shares in U.S. stocks.
Even a cursory look at the heavyweights around the world show major problems in every country. No one seriously believes the EU is in great shape nor Russia nor China India Japan on and on. And yes the list of troubled countries includes the US, you can even put them at the top if you like. It would be fair to say since WWII the USA outperformed most of the above listed--but moving forward there is no clear winner. Everyone has a morass of problems the world is interdependent.
I would much rather bet on the countries going into a financial depression that have production based economies. The consumer driven economy in the U.S. is going to need a total restructuring. Plus, the debt levels by our government and citizens is not going to help.
Like who. What's China's production capacity per capita, or India or Russia (Russia biggest export past resources is computer viruses and sex slaves--- How's Saudia Arabia, rich with resources, doing with their economy and people.. on and on and on.
The dollar is strengthening because everyone was on the short side of the dollar until Trichet folded and said the EU isn't going to raise rates—so everyone— unwound the short dollar long commodity trade. Couple the unwinding: short dollar long commodity trade with dollar destruction in the form of defaults, de leveraging and credit destruction there are less dollars in the system---we are talking $30 trillion less over the next several years. So the dollars that are left are worth more.
Using derivatives to temporarily remove large amounts of currency from circulation, temporarily, will manifest itself as a false reading on the M3 money supply, and that is exactly what we've seen, in some surveys this August. The reading is misleading. The money is only temporarily out of the system. It will shortly return, if it hasn't already, to generate inflation.
If you want to see an even better and FAR MORE INFORMATIVE movie then please watch "The Money Masters" on Google Video! There is a way out of all this and IOUSA's solution cannot work.
The only way out of this is for the US to go back to industrial production, accept a reduced standard of living and to have other countries free of the US dollar hegemony. When foreign producers can afford the fruits of their own labour and Americans earn what they consume then there will be a better balance globally. The free ride is over. Abolish the Fed.
I agree. We must eliminate the Federal Reserve Bank (which is not Federal but is a private bank), bring back debt-free dollars and get rid of Federal Reserve Notes and have the US government print its own money instead of private bankers.
Need help. Someone here posted a link to a site that has Financial commentary. I can't find the site anymore or remember what's called. When you get on that site, it has a calendar of the month on the right side. You can click on the date and see commentary on that day. I found it a great site and sure like to find that site again. Thanks.
That's funny. Comments with views contrary to the "collapse" are disappearing. You guys are just as stuck on only one side of the story getting out as you all accuse everyone else of being.
100% LIE - rharzzzy, you can say whatever you want about the economy, just ask TGS. But don't lie on this blog, I will cut you off for making false accusations about comments being removed. If you really read these blogs, you would know that opposing views NEVER get removed.
Then where'd they go? I'm not the only one who noticed that they were missing. Calling me a liar covers your seeming legitimacy, but it doesn't explain where my comments went.
Click view all, if there not there, then you never typed them. While your reading all the comments, you will see all the comments that oppose everything I'm saying.
Estimates are China has invested $1 trillion of its $1.8 trillion foreign exchange stockpile in U.S. securities. The yuan has appreciated about 21% since China dropped its fixed peg to the U.S. dollar in July 2005.
China is not going to be buying US debt? In fact they are now a net SELLER of treasuries. Nor will Russia. So, who is going to bail us out NOW? Anyone?
he People's Bank of China, China's central bank, has begun discussions with the finance ministry on ways to shore up its capital, The New York Times reported, citing three people familiar with the discussions.
The move could make it less likely that China will allow the yuan to continue rising against the dollar and accepting an injection of capital from the finance ministry could also reduce the independence of the central bank, the report said.
Halting the appreciation of the yuan could heighten trade tensions with the U.S., which has sought a stronger Chinese currency to reduce the competitiveness of Chinese goods and lower the U.S trade deficit, the report said.
The central bank is in need of capital because of its roughly $1 trillion purchase of U.S. Treasury bonds and Fannie Mae- and Freddie Mac-issued mortgage-backed debt.
They're known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to EXPLODE, according to a Fitch Ratings report issued Tuesday.
Option ARMs are loans that allow borrowers to make very low minimum payments that don't even cover the interest for the loans. The difference is then added to the mortgage balance, which grows every month.
Foreign central banks, particularly China's, have in recent years been among the biggest buyers of "agency" bonds, those issued by Fannie, Freddie and other government entities. But they've been backing away. Brad Setser, an economist at the Council on Foreign Relations, noted last month that Federal Reserve data showed foreign central banks were, for the first time in four years, net sellers of agency bonds.
The White House and the Treasury Dept. would not comment on the reports.
NEW YORK (Fortune) -- It took two months, but the bond market called Henry Paulson's bluff: The Treasury Secretary was widely expected this weekend to announce a plan to take Fannie Mae and Freddie Mac under government control.
News reports say the mortgage giants will be placed under a "conservatorship" of their new regulator, the Federal Housing Finance Agency.
Fannie and Freddie... Rescue Me Rescue me Oh take me in your arms Rescue me I want your tender charms 'Coz I'm lonely and I'm blue I need you and your love too Come on and rescue me Come on baby, take me baby, hold me baby, love me baby Can't you see that I need you baby Can't you see that I'm lonely Rescue me
secretorchid. This is Bob from Homeland Stupidity. I've got a post over there where we spoke before. It explains most of what's happening today in the context of a socialist Monopoly game. When you think about our economy today in that way, it starts to make sense.
I'm going to regret this. Had to give too much info to get on. VV is one of the good guys, I think, but the men in black will find me now.
I read your post with Glen from that site, am I the lady you were talking about to Gl? I am glad you started watching VV. It is easier to post here because for one thing you don't have to scroll down like 50 pages to post a comment. Believe me, your comments are welcome here, as you are so intelligent and are "salt of the earth". I am so happy to hear from you! Let's bring G and S and J over too.
but to stay current in the economy we are supposed to gain over 100,000 jobs a month. the news caster announced, " the government is saying we are still nowhere near a recession" .
99 cent store already raised prices above 99 cents and spokesman is supposed to publicly make the announcement Monday..it's like we are in an Ingmar Bergman movie. Surreal, scary but eerily compelling...
WASHINGTON (AP) -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.
Some of the details of the intervention, which could cost taxpayers billions, were not yet available, but are expected to include the departure of Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron, according to the source, who asked not to be named because the plan was yet to be announced.
Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and James Lockhart, the companies' chief regulator, met Friday afternoon with the top executives from the mortgage companies and informed them of the government's plan to put the troubled companies into a conservatorship.
More than one out of 10 borrowers with a prime adjustable-rate loan is now delinquent or in foreclosure. That portion, 11.3 percent, was up from 9.7 percent in the first quarter and is expected to continue to rise as more homeowners see their monthly payments spike.
The federal government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, several newspapers reported Friday night.
These guys are pulling an ENRON on the entire f'n country. Sadly, the sheep won't know what hit them until their bank cards stop working. By next year the top songs on billboard will be, "Nobody knows the trouble I've seen." And, "Ain't got the change of a nickel."
Quoting unidentified sources, the Post said that the companies would be placed under a conservatorship and that the value of the companies' common stock would be diluted but not wiped out, while other securities, including preferred shares, would be protected by the government.
The govt. is, in effect, bailing out sovereign well funds and banks who own the preferred stock. Several banks own some 40 BILLION of PREFERRED stock in BOTH entities.
Aug . 22 (Bloomberg) — A failure of US mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank.
"If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic," Yu said . "If it is not the end of the world, it is the end of the current international financial system."
Freddie, Fannie Failure Could Be World `Catastrophe,' Yu Says
A failure of U.S. mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank.
``If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,'' Yu said in e-mailed answers to questions yesterday. `
Top execs would be dismissed and common stock diluted under federal plan
The federal government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, several news
outlets reported Friday night.
AND THE DOLLAR IS RALLYING? HAH! The inept, wasteful, govt just added 6 TRILLION TO THEIR BOOKS> Market action should get very interesting over the next 2 months.
If feds shore up Fannie and Freddie, what happens to the lesser mortals ( Merryl and Lehman for example ..LOL ).The execs will still make it good with their golden parachutes.
It could be curtains for the banking industry, unless the Feds get really bold and decide to pump in trillions and we have a few wars to destabilize the globe - which is good for the dollar.
As of now dollar is still the reserve currency and it is all about flight to safety. Euro could very well be the reserve currency, but that is a couple of years away.But the folks at the congress will make sure they have a few guns pointed where it is required.
Yeah but another war is just too much for the USD. Everything has a limit. The dollar is rising now but trends can and do change quickly. A real flight to safety is gold, something not created in greater quantities because of gov't needs during war.
The american people received nothing for the debt, we should not have to pay.
wolftreetree 11 months ago
If this movie troubles demand fiasco
avmsf 1 year ago
It might be too late, but getting a bunch of common folks in government might help.
Consider the movement GOOOH trying to field responsible, average Americans to run for the House of Representatives.
I don't see how they could muck it up any worse. Shoot, they might actually have some good ideas outside of the lobbyists and the behind the scenes manipulators.
They might have to put their families into hiding but hey, that is what founding fathers had to do.
I sent an application, so can you.
minddbendder 2 years ago
term limits?
HarrySeeword 2 years ago
It seems to me that people have not voluntarily cut back on spending.
If they had, the value of savings would be going up.
What has happened is simply Americans have less TO spend.
minddbendder 2 years ago
Well, they may not be saving. They may be paying down debt, and/or they may be helping family members that are living on nothing but food stamps. So more of people's money is going to support multiple people and at the same time bills are increasing at a very rapid rate.
kevin10987 2 years ago
NO MORE LIBERALS. THEY FUCKED UP THE USA. get back on the gold standard. I'm not worried about the terrorists. I'm worried about our leaders....they scare me. Spam up!
MrGreatLakesBuffalo 2 years ago
So thankful for movies like I.O.U.S.A. and channels like yours. It helps people understand the reality of the situation. But there are two main motivators for people, 1) They move toward pleasure, 2) They move away from pain. The former is what got us into trouble, the latter CAN get us out, if we respond in the right ways, and act quickly. Otherwise we'll simply be in pain forever (or a long time) C'mon people, let's tell our elected employers what they need to do to stay on the job.
owningyourfinances 2 years ago
Forget Jesus. He is the SUN. The orb of day personified. He rises everyday. He comes in the clouds. He is the lamp at my feet. He fights darkness.
Comeon - wake the hell up. You don't need that fake Zodiac cross/crutch crap do you?
Noisycowonline 2 years ago
This comment has received too many negative votes show
ron paul supporter are annoying
leftFRENZY187 2 years ago
I would renounce, therefore, the attempt to create heaven on earth, and focus instead on reducing the hell.
( A. Alan Borovoy )
It looks like the End Times, folks. The Hour of Evil Incarnated. Against the ascendancy of such Evil cum Evil, ordinary folk can only watch and pray, and refuse to participate in the evil empire unfolding.
Except when it comes to jobs and feeding times ! Run like hell when the culling starts !?
It's not peaceful nights for the sheep before NIBIRU Passover time
CommanderUTube 2 years ago
I'm not too sure about the ills of cutting government jobs. Most of those jobs do not produce anything and there are endless bureaucracies that could be trimmed.
esalian9 2 years ago 3
@esalian9: Wake up. The shadow government has been leading our country for years. Just how wood you reduce the size of the government? Be specific.
Crickettedog 2 years ago
Peaceful Demonstrations and anything else an intelligent human being can invent. Not too likely now that we're drowning in aspartame, fluoride, GM foods and chemtrails.
cusanusnicolas 2 years ago
Not only useless, but most gov employees are the scourge of the earth from the pit of Hell and bound to return. Toss MDs, pharmacy co's/reps in with them.
cusanusnicolas 2 years ago
Hey Vision Victory move here to Ontario, Canada. We got money still, although no industry left, but we're still better of than the US. Until of coarse our next election when dumb ass Liberals get voted in
rianpop 2 years ago
well anything is better than the ignorant conservatives
Leifegreens 2 years ago
i'll assume your canadian. so STFU!!!!!!!!!!!! Stephan Harper is smarter at economics than micheal ignatieff. and what makes the conservatives ignorant? nothing can be more ignorant than voting for Stephane Dion. You screwed up once youll do it again
rianpop 2 years ago
do you even know what they are letting the lumber companies do? and how bad they are screwing up the environment. Maybe you should learn about what they are doing before you start saying that the conservatives are the best at economics. Just because they know how to make money for themselves doesn't mean that they know how to run a country. They have screwed up more of the environment than any other party in Canada.
Leifegreens 2 years ago 3
Comment removed
Leifegreens 2 years ago
IOUSA does the math and proves the point, but it totally ignores the truth. The FDR New Deal / LBJ Great Society programs are pyramid schemes
The only difference between what Ponzi & Madoff did, and these $53 Trillion (2007) government socialism shams, is the REGRESSIVE (poor pay more) FICA tax, & that we were FORCED to participate
(Note: Congress is EXEMPT from these programs. THEIR salaries do not pay into them)
A CONSTITUTIONALY RESTRAINED government doesn't have these problems
mredstriumph 2 years ago
well at least you know what is going on
theantirobot & marcus are a couple of idiots
cds052 2 years ago
VisionVictory you are one of the very few people I have seen and heard that actually has an accurate understanding of the problem. Every point you made here is right on target. Obviously you have been paying attention. Now if we can only get 290 million more Americans to do the same, there might be a chance, but as you say, the solutions are there but they won't be used.
The old saying that people get the government they deserve was never more true than today.
Keep your ammo dry. - FF
FedFarmer 2 years ago
the American and western economy is collapsing because u dumn asses americans support i$rail that took u to the Iraqi war ..................THANKS GOD FOR PUNSHIN THESE BAD TEREROSTS so no more wars..soon americans will have to go to Vietnam and Iraq to search for jobs over there.......hahahahahaha
Alilibya4466 3 years ago
Is it true California is about to go effectively bankrupt?
eplfootiefan 3 years ago
Yes, and the united states is going to bankrupt also. Here is my opinion if you have a lot of money spend it because it doesn't do you any good to save it. Inflation will destroy its value anyway.
moniequa 3 years ago 2
Comment removed
Leifegreens 2 years ago
The thing about IOUSA is it was done before the credit crunch,they should make a new one with the new financial reality as it stands in 2009.
eplfootiefan 3 years ago
the new reality would be worse..
iousa was a great movie.. about the truth
cds052 2 years ago
I knew about this in 1995. Read Larry Burkett's Comming Economic Earthquake. He prediced it would happen in 2000. He was off by 8 years. People where mocking him.
jingling30 3 years ago
8 years is a long time, so yes he was wrong.
moniequa 2 years ago
This has been flagged as spam show
We all know SOMETHING is coming... and that the worst may be yet to come...
If you're wondering how to PREPARE FOR and GAIN FROM it check out:
(3W.) prepareforandgainfrom (dot) (com)
PFandGF 3 years ago
they are stupid
morons
brain washed sheep
dotn be sory
u rule man
ABOSOLUTEKNOWLEDGE 3 years ago
it's the same in the uk as wall
genebeards12212012 3 years ago
good vid many truths gabydewilde
genebeards12212012 3 years ago
"It doesn't have to go wrong."
It has to go wrong. You are 50+ trillion in debt, which you need to pay back, but can't, see. If you don't, the world will take you over, and start having their way with you. Better practice bending over.
UseSumLogic 3 years ago
Obama killed the US already: The Nr 1 suggestion on chance gov was to legalese hemp. Hemp has thousands of applications, free source of food, plastic, oil, paper, rope, a way to enrich soil, to make oxygen, grows faster than any crop and requires little maintenance even in the desert. For a hundred thousand years people used it. In stead the US is spending flabbergasting sums to lock away a million additional people per year.
Obama acted dumb about it, he killed the US
change = death
gabydewilde 3 years ago
But I thought Bush had already killed the US before Obama came in. Maybe Bush almost killed it and Obama just came in and stretegically placed a knife where the carotid is and finished us.
moniequa 3 years ago
THERE SHEEPLE!
johnny9148 3 years ago
remember that after the 1929 depression, it was followed by WWII. Do we see a higher potential for another world war?
homer30 3 years ago 4
It doesn't have to go wrong. Obama represents a small elite, of course the rest of the so called rich will cry like the spoiled children they are but things could improve a lot from it. Currently Warsington is playing the planetary petroleum police. There are hundreds of technologies that can replace oil, bubble fusion and cold fusion have been choked to death by the US but it can potentially power the world. The alternative is war. *shrug*
gabydewilde 3 years ago
But won't the elite be safe? And the common people will be the ones to suffer?
sugarbrownrabbit 3 years ago
When people live by a LIE and continue to ignore the Corrupt politicians and corrupt Banking system what can you expect. A total revolution is what is required to fix the planet.
Easydollars 3 years ago
The solution that DOES work for for national debt in other countries is to literally bankrupt the country in order to start over. Or we can attempt to do what Japan does and decrease the value of the currency.
blasphimus 3 years ago
wtf...Germany went bankrupt and the socialist party had taken over. Insolvency has a heavy price.
DATDUDE1979 3 years ago
Not just Germany Venezuela did it too.
I think socialism is great. I hope your not trying to use socialism as an offensive word with a socialist?
Either way, if your more in debt then what you could possibly produce then do you actually think getting out of debt is supposed to be "fun"? It's fun running up debt, but to get out of it can cost big time, just like in real life.
blasphimus 3 years ago
We're already seeing many states who can't meet their own budgets and are asking for federal help. The huge decrease in consumer spending which is taking place, and will continue to take place will hurt corporate retailers badly. Profits will become huge losses and the stocks of these companies will fall. Foreclosures will become more widespread as people loose their corporate jobs across the country. You'll be seeing growh adults moving into their parents house and or vice versa.
mycatisromeo 3 years ago
IOUSA just came to (1) Theatre in my area (Des Moines, Iowa) a cityplex with over 500,000 people. I haven't seen it yet, but I can tell you one thing - we've seen the stock market drop from 14000 to 9000 in the past few months. The funny thing is, yes, consumers have cut some of their spending, but not nearly as much as they're going to cut in the next year. When the 1st quarter of 2009 retail sales begin coming in, the stock market is going to react with a huge fall.
mycatisromeo 3 years ago
Question: why are americans placing their trust in the good graces of people like the chinese, gulf arabs and russians??? Do you know that they are the ones providing most of your investment capital...are you nuts??
Wake up: they don't give a damn about you and won't come to your aid in your time of need. You've got to start saving enough to fund your own investment...and now.
cannuckistan 3 years ago
My friend, you had it right the first time, the public is stupid, not ignorant. If the info is out there and you refuse to listen, that makes you stupid. If you spend on credit when you damn well know you should save, that makes you stupid. Like your channel. Subscribing.
newutubejunkie 3 years ago
eeeeeeeeeeeeeee mmmmmmmmmmmmmmaaaaaaaaaaaaaarrrrrrrrrrrkkkkkkkk
dieoblue 3 years ago
YO! You right on Dude! F William Engdahl asked by Alex Jones when will da depression get here says, It's Here! It's HERE folks. YO! You right on Dude! F William Engdahl asked by Alex Jones when will da depression get here says, It's Here! It's HERE folks. F William Engdahl say IT IS HERE! DA D IS HERE! BUt da sheeple is still half asleep. When day wakes up an go to da store and find dey aint got nuff dinaro for some bread an milk...den dey WILL wake up. An den git ready cause sht hit da fan den.
kt10585 3 years ago
Nurse: "But doc, he's been dead for 5 hours, does he really need another shot of adrenaline?"
Doc: "We just need to pump another gallon into him and I'm sure he will come around...."
AllahConsciousness 3 years ago
This has been flagged as spam show
MSG me on MSN. ID is in my profile. if u wanna watch me on cam W
camputito 3 years ago
"Americans are too stupid and too consumed." i believe that. u hit on the nail.
KhmerD0g 3 years ago
i did cut back to the extremes. i live in a smaller home, my car is paid off (downgraded the suv to a corolla). i shop at goodwills or garage sells.i cook more instead of eating out.i dont use credit cards anymore.
Phreestylgurl 3 years ago
I am so upset and depressed about the recent economic state of the USA....I am not sure what to do with the "cash" I have in the bank. I am afraid to buy gold at this point. I am thinking of just hiding it in treasury bills.
inkey2 3 years ago
greedy boys now no jobs great ,.ha ha so funny
hujjesb 3 years ago
don't be sorry. the vast majority of us are stupid... ive been trying to get people to see that shits aobut to hit the fan for a coupel years now, but they would rather attack my character than listen to what i have to say. or will just say thats stupid and your wring without giving any information to the contrary... were gonna go thorugh it and i for wone am helpless being 21 with a job that rarely works me and noone around to lsiten and help prepare. guess im dying a slow painful death,oh well
DamienScott20 3 years ago 2
If it makes you feel any better, I'm 37 with very little savings (all 401K - wonder when that's going to tank) and a bunch of debt (school/car loan).
meganmcdonald2006 3 years ago
Hey Obama is going to make it so you can spend your 401k tax free - even less saving...lol
lordgaladedrid 3 years ago
Yeah. I'll be 21 this year as well and I'm stuck with a school job (they're about to cut back now) and tons of student loan debt as well as credit cards. It was a miracle that I stopped using credit a year ago and am on my way to being debt free.
I've come across the same reactions as you, and it's frustration to say the least. Especially when the people you're trying to help are the ones closest to you. :(
lavinder11 3 years ago
I am from the UK,i have been looking for videos and comments about this film,i am amazed at some of the video's,words like boring,boring,and,BORING,it is not supposed to be entertaining,WTF.
MagnaCartaFreedom 3 years ago 3
These Wall Street crooks rely on stoopid people. Stoopid people just allow the financial elites to use their retirement funds as their slush funds to get rich. This is all engineered. Washington and Wall Street heavyweights are getting their money now and then leaving all the stoopid people wondering where its all gone. Make no mistake - this is planned and pre meditated. Money doesn't disappear - it just goes from one place to another. And stoopid people like me just sit back and take it.
kickittome70 3 years ago 5
LOL at kickittome70....."stoopid"....that "was" a joke, right?
inkey2 3 years ago
Looting of America is well under way.
More like the final blatant stages of the ROUT.
Wall street crooks and the government = fully connected to this.
Taking all the cash out of America.
Liquidate.
Corporate thugs.
We should kill them!
cosmicwoman 3 years ago 2
i want to know where the FED RES gets its money and lending power from. i assure you its not lying in gold bullion as the name "RESERVE" says it is. They lent 9+ trillion dollars to the US GOV, but still have money to pay out 85 billion for AIG??? This is a private company, not a US Gov run department. THEY CANNOT POSSIBLY HAVE THE MONEY, THEY HAVE A MONEY PRINTING LICENSE. ITS A COMPLETE FARSE
Anuerism28 3 years ago
I assume the government will just run the printing presses overtime and churn out more paper dollars
inkey2 3 years ago
China will Use its dollars to BUY USA, farms,realestate once its cheap.
keithholden 3 years ago
China having huge dollar reserves, use only their small part. If they thrown suddenly out them on world market - will be collapse & dollar default.
SaakashWilly 3 years ago
Trading deficiency 10x10^11$ not a unique problem of USA economy. There is more serious problem, quantity of monetary dollar weight at present already in four exceeds quantity of accessible goods & recourses on a planet, sooner or later, anyhow Russia & China will throw out all these dollars on wide market...
SaakashWilly 3 years ago
Today another Lehmann Brothers statement for bankruptcy has submitted...
USA as fact bankrupt.
Incompetent management of USA is unprofitable to Russia.
Elections in USA it's a farce.
Bring up serious question means to put end to career...
SaakashWilly 3 years ago
Just posted a new vid, should show up in a few minutes.
visionvictory 3 years ago
Hey vv,
Can I ask you what was the critical point where you decided to post your videos, was it a slow decision or was there a critical point where you
felt compelled to educate and inform? When a group of my friends see me coming- a few of them immediately tell me they only want to hear positive things from me today. They don't know about F.Res., Fdic, any of the Mac's even though one lady said they had funds there but
hubby's handling it. Ignorance is bliss.
secretorchid 3 years ago
Yes, once I realized it was going to happen within a year.
Originally I thought it would happen closer to 2010-2014.
thx for the comments
visionvictory 3 years ago
Thanks vv,
And I hope you keep posting as long as possible to the bitter end.
I feel really badly for the next generation and their kids too. Me being a parent and many of my older friends just became grandparents. What a world to bring children into. Young people are forced to postpone their weddings.
secretorchid 3 years ago
Would you really like to be China. A country of over a billion people with only a $4 trillion dollar economy holding over a trillion in dollars. Where cheap energy is being depleted and you only have 60 million people doing well and another 200 million middle class while 800 million are living in abject poverty--under $2,500 a year. What happens when you bring another 100 million out of poverty expose them to freedom and then have a recession---might they revolt?
TGSIII 3 years ago
TGS, I mostly agree with what you say, but the reality is - Americans are getting poorer and poorer and the trend will not reverse. The standard of living in China and India is still lower that what US is and it is going to take quite some time to reach parity, if at all. It all comes down to population density, IMO I still think Canadians, Australians, the Icelanders and the Finnish are ahead of in terms of quaility of life.Too many people, too little resources.
gods2fight 3 years ago
Man, this is bad. biggest bail out in the history of the world, correct?
sbmillionair 3 years ago 3
Interesting. The government takes over Freddie and Fannie and the price of gold is up on the Asia/Europe Market(google 'live market quotes').
livefree1789 3 years ago
>20. Don't ever doubt that it is going to happen. It might take a while or it might be tomorrow. The longer it takes, the worse things will get until something sets off a collapse. The trigger could be anything, natural disaster, civil riot, labor unrest, terrorist attack, but all at once the government will lose control. Quit worrying about it. Shut off the computer, go outside, breath the air, and enjoy how good we have it now.
Glad you liked my quote Tiff. I've got a million of 'em.
1693B 3 years ago 2
Hi 1693B!
So glad you are posting here, people can learn from you or vice versa, or have a friendly trade of ideas. We're all waiting for vv's next vid.
Just came back from an upscale (beach area) flea market, I sold just enought to pay the rent and the commission for being out there from 7 am to 4: pm. So there seems to be more and more people entering the seller's market as there are people buying. It was neat to see people buying at the adjacent farmer's market.
Back to grass roots.
secretorchid 3 years ago
Also it is for certain retail will continue to die down, as I've seen my own sales and other dealers' sales. More in/out turnaround at the antique mall as people desperately are trying to sell all the junk they have been collecting and trying to sell it for food, and necessities including me. Seems like all the
middle eastern people and the Chinese and Japanese are the only ones spending big bucks at the antiques/home furnishings venue.
secretorchid 3 years ago
How much evidence do we need? My judgement on us going overboard is that everyone should wait until Late spring of 09. Be patient, and live life. This to me is not a situation to make money, but a chance to preserve the money you have worked hard for. This economy is exactly like cancer- The patient may look fine on the outside, but one day his illness becomes known (the stage we are in) until finally the disease becomes more than the body can bear, and NO medication will cure him.
BendoverBernanke 3 years ago
With the bailout of fannie and freddie looks like theyre trying to stall a collapse as long as they can. Even though I do believe it will happen, part of me wonders if it REALLY will happen, or are we all (including myself) just conspiracy nuts. And if it does happen, will it be years from now, or in a few months. Maybe it will just keep getting a little worse every week like weve all been seeing for many more years. Any comments intended to bring me back to reality are more than welcome.
morethan20 3 years ago
The current administration will do whatever it can to avoid it happening on their watch. Unless of course they want it to happen on their watch in order to stay in office.
The next administration will start to talk down the economy and push recession/depression talk almost immediately after the election. The new administration will want this to explode as soon as possible.
visionvictory 3 years ago
I understand what your saying VV, but what would look better to voters? For the current party to look like ignorant fools for leting or making this all happen, or let Bush continue his dictatorship until we finally have an election whenever that would be. With a democratic congress I wonder if they would let him stall the elections, or impeach him?
morethan20 3 years ago
I have read a little bit about almost all US Administrations. i have yet to hear of an administration come in and talk gloom and doom.---Carter talked about cutting back--see how well that worked for him. So no from a historical precedent the next president will be talking up the economy not down--favored supporters will be given priority to deploy resources which will in turn further a transition whereby non productive areas of the economy will wither and die as productive areas grow.
TGSIII 3 years ago
watch?v=PNxbBg1BNT0
BendoverBernanke 3 years ago
Did the government just bail Freddie and Fannie out or was it bailed out by China and otehr countries. America is broke and soon will fall.
Hopefl1 3 years ago
Interesting article
Google " The Great Dollar Pump of 2008: A Doomed Central Bank Intervention"
01Jan1978 3 years ago
On the good note, there won't be any cause to have a run on banks yet. We have time. Maybe things will get better as most people don't know what this bail out really means, there will be a rally in the stock market for days before it comes down again.
Kelvin701Lakeland 3 years ago
Sorry Kev,
Have to disagree with you, as many are "left holding the bag".
The market may rally, but all for naught, as we, the taxpayers will be "flipping" the bill.
The many will realize this soon, as their portfolios will tell them. Times will be very ugly my friend.
taznruby 3 years ago
taz you and many others have been saying that for some time now, but reality shows a different picture - one of people going about their normal daily business. There isn't any panic, no riots, no chaos. I don't see the ugly times you speak so much of.
tonjg 3 years ago
see? the market is rallying right now as predicted. There is no run on banks. Actually bank stocks are up like crazy. There are so many people who are so stupid not really know what this bailout means to their pocket. This is why market rallies right now. But in the longer term it will come down again and drop hard and fast. I was asked if one should go to bank in the morning to get money and gold out from deposite box. I said NO, not yet. We have time.
Kelvin701Lakeland 3 years ago
Treasury has finally seized FRE and FNM. I'd love to hear your take on this.
SlyJunt 3 years ago
I come to this thread to confirm.
The many start to panis as I speak. We have warned them and in their folly, did not listen. Too bad.
To the sons and daughters of the Republic:
We have spoken about the blindsided and the ignorant for months. The few, who have prepared, are now the wise. Take the knowledge, as the many need to be the guided now.
taznruby 3 years ago
To all:
The end of fannie/ freddie is here.
To those who have labored, that is you, the time of tears is upon us. As you all know, the Fed can print money all day long, every day, and can in no way support these insolvent businesses. Good luck and Godspeed.
taznruby 3 years ago
watch?v=bmVVYcMsDlU
BendoverBernanke 3 years ago
So, to summarise, changed market conditions are to blame for the FRE FNM bailout. The GSEs were designed for 1930s market conditions. Congress have been given a year to redesign the GSE charters.
FRE FNM management are not liable for their use of creative accounting to paint a false picture of financial soundness.
Japan, China, Russia and other foreign creditors are screwed: if they become net sellers of US treasuries, the USD collapses and there is no alternative reserve currency.
lc501 3 years ago
HONG KONG China's central bank is in a bind.
It has been on a buying binge in the United States over the last seven years, snapping up roughly $1T worth of Treasury bonds and mortgage-backed debt issued by FNM and Fre.
Those investments have been declining sharply in value when converted from dollars into the strong yuan, casting a spotlight on the central bank's tiny capital base. The bank's capital, just $3.2B, has not grown during the buying spree, despite private warnings from the IMF.
coultrane 3 years ago
mr1fed: market-ticker . denninger . net/
Kelvin701Lakeland 3 years ago
Thanks, I'll check it out.
mr1fed 3 years ago
WASHINGTON (AP) -- The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.
bdc03 3 years ago
"Inertia", means overall trend of dollar falling cannot be stopped.
mikemb123 3 years ago
Congratulations! Fannie and Freddie have been taken over.
Who's next? Detroit's Big Three? The entire Wall Street?
"Too big to fail"... Yeah right. I say "too stupid to nationalise".
Nassos1983 3 years ago
hey vision: a lot of decline even since you posted this vid 2 1/2 weeks ago. any chance of another vid` soon. dow at 11200, what is to say the big big slide hasnt begun. or is it just going to continue to be slow and painful, the epitome of deflation
marcusguernsey 3 years ago
Will try to post today, I've been out of town. I'm hitting as many vacations and family get togethers as possible I think it will be a slow decline until it hits the 9,000 range, then we could see some major moves down. I think were down to the last 6 months for the U.S. stock market dog and pony show. Once the markets collapse, what will follow weeks later is what really scares me.
thx for the comments
visionvictory 3 years ago
I'd be curious to know what the 'under'employment stats say, if they have such. Being in the Real estate Business (appraiser) went from making decent 6 figures to - a LOT less, along with many in the business now working SH--TTy low paying jobs-Not unemployed. but may as well be. Im just hangin in their
chromedreamz 3 years ago
what worries me is the increasing concern over deflation even amongst the gold bugs - a lot of good articles discussing it at marketoracle (dot) co (dot) uk - where do things stand in the inflation vs deflation debate and how will gold/silver fare in a deflationary environment..?
florgat91 3 years ago
Remember, paper money is all about perception. The economy as we know it, is already crumbling. As consumers cut back, jobs will be lost and the doom will be set in. All the current dollar strength is based on false perception, the perception that the U.S. is in a recovery and that things are going to get better. The dollar will lose most or all of its value once the world markets realize the u.s. will never be able to pay it debts without debasing its currency.
visionvictory 3 years ago
In the end, gold and silver will hold real value as the dollar falls through the floor. The dollar is also rising because of the perception that foreign countries will also go in recession with the U.S., which isn't happening yet. Look at the retail sales for south east Asia and the south American nations. Yes, they may go into a severe recession as the world changes, but the fundamentals for their economies are strong. We have an economy that once down, will be down for a very long time.
visionvictory 3 years ago
The U.S. economy is one big giant bubble, based on constant credit expansion and consumers spending like crazy. That's over, and will not be able to be re-inflated since 70% of the jobs we have can not come back without people spending. People can't spend without good paying jobs or credit, so you can see the dilemma the U.S. is in. The U.S. will need a complete restructuring of its economy; the dollar strength will evaporate just like the shares in U.S. stocks.
visionvictory 3 years ago
Even a cursory look at the heavyweights around the world show major problems in every country. No one seriously believes the EU is in great shape nor Russia nor China India Japan on and on. And yes the list of troubled countries includes the US, you can even put them at the top if you like. It would be fair to say since WWII the USA outperformed most of the above listed--but moving forward there is no clear winner. Everyone has a morass of problems the world is interdependent.
TGSIII 3 years ago
I would much rather bet on the countries going into a financial depression that have production based economies. The consumer driven economy in the U.S. is going to need a total restructuring. Plus, the debt levels by our government and citizens is not going to help.
visionvictory 3 years ago
Like who. What's China's production capacity per capita, or India or Russia (Russia biggest export past resources is computer viruses and sex slaves--- How's Saudia Arabia, rich with resources, doing with their economy and people.. on and on and on.
TGSIII 3 years ago
The dollar is strengthening because everyone was on the short side of the dollar until Trichet folded and said the EU isn't going to raise rates—so everyone— unwound the short dollar long commodity trade. Couple the unwinding: short dollar long commodity trade with dollar destruction in the form of defaults, de leveraging and credit destruction there are less dollars in the system---we are talking $30 trillion less over the next several years. So the dollars that are left are worth more.
TGSIII 3 years ago
Using derivatives to temporarily remove large amounts of currency from circulation, temporarily, will manifest itself as a false reading on the M3 money supply, and that is exactly what we've seen, in some surveys this August. The reading is misleading. The money is only temporarily out of the system. It will shortly return, if it hasn't already, to generate inflation.
From "The Great Dollar Pump of 2008"
BendoverBernanke 3 years ago
federal highway department,there broke to,begging for operating money this past friday.
jttt5 3 years ago
fdic has reserves of 40 billion,over 4 trillion in deposits,anyone know the outcome of this?
jttt5 3 years ago
Yep.
philby247 3 years ago
What happens now that Fred & Fannie are being bailed?
dojufitz 3 years ago
Fannie and Freddie got taken over by the US gov on Friday whats your take on what soon will come ?
krazykobe8 3 years ago
I wonder what happened to the gal from CNBC who argued with Jim Rogers on Fannie and Freddie. LOL
watch?v=rcIBFLSmVGA
See the 4th minute
gods2fight 3 years ago
If you want to see an even better and FAR MORE INFORMATIVE movie then please watch "The Money Masters" on Google Video! There is a way out of all this and IOUSA's solution cannot work.
LethalKillingMachine 3 years ago
The only way out of this is for the US to go back to industrial production, accept a reduced standard of living and to have other countries free of the US dollar hegemony. When foreign producers can afford the fruits of their own labour and Americans earn what they consume then there will be a better balance globally. The free ride is over. Abolish the Fed.
mr1fed 3 years ago
By the way, I agree whole heartily that The Money Masters is an excellent video.
mr1fed 3 years ago
I agree. We must eliminate the Federal Reserve Bank (which is not Federal but is a private bank), bring back debt-free dollars and get rid of Federal Reserve Notes and have the US government print its own money instead of private bankers.
LethalKillingMachine 3 years ago
Need help. Someone here posted a link to a site that has Financial commentary. I can't find the site anymore or remember what's called. When you get on that site, it has a calendar of the month on the right side. You can click on the date and see commentary on that day. I found it a great site and sure like to find that site again. Thanks.
Kelvin701Lakeland 3 years ago
never mind, found it. :)
Kelvin701Lakeland 3 years ago
What's the name of the site Kelvin?
mr1fed 3 years ago
That's funny. Comments with views contrary to the "collapse" are disappearing. You guys are just as stuck on only one side of the story getting out as you all accuse everyone else of being.
rharzzzy 3 years ago
100% LIE - rharzzzy, you can say whatever you want about the economy, just ask TGS. But don't lie on this blog, I will cut you off for making false accusations about comments being removed. If you really read these blogs, you would know that opposing views NEVER get removed.
visionvictory 3 years ago
Then where'd they go? I'm not the only one who noticed that they were missing. Calling me a liar covers your seeming legitimacy, but it doesn't explain where my comments went.
rharzzzy 3 years ago
Click view all, if there not there, then you never typed them. While your reading all the comments, you will see all the comments that oppose everything I'm saying.
visionvictory 3 years ago
Estimates are China has invested $1 trillion of its $1.8 trillion foreign exchange stockpile in U.S. securities. The yuan has appreciated about 21% since China dropped its fixed peg to the U.S. dollar in July 2005.
China is not going to be buying US debt? In fact they are now a net SELLER of treasuries. Nor will Russia. So, who is going to bail us out NOW? Anyone?
coultrane 3 years ago 2
anyone keeping up with the webbot predictions? anything new from the bots?
centervilletn 3 years ago
China central bank may need government bailout
he People's Bank of China, China's central bank, has begun discussions with the finance ministry on ways to shore up its capital, The New York Times reported, citing three people familiar with the discussions.
The move could make it less likely that China will allow the yuan to continue rising against the dollar and accepting an injection of capital from the finance ministry could also reduce the independence of the central bank, the report said.
coultrane 3 years ago
Halting the appreciation of the yuan could heighten trade tensions with the U.S., which has sought a stronger Chinese currency to reduce the competitiveness of Chinese goods and lower the U.S trade deficit, the report said.
The central bank is in need of capital because of its roughly $1 trillion purchase of U.S. Treasury bonds and Fannie Mae- and Freddie Mac-issued mortgage-backed debt.
coultrane 3 years ago
Metals about to rebound.
sbmillionair 3 years ago
Fannie and Freddie to be bailed out? This is Terrible
sbmillionair 3 years ago
Pick-a-payment loans turn poisonous
They're known as "pick-a-payment" mortgages or option ARMs, but their detractors call them pure poison. Now their default rates, which are already high, are about to EXPLODE, according to a Fitch Ratings report issued Tuesday.
Option ARMs are loans that allow borrowers to make very low minimum payments that don't even cover the interest for the loans. The difference is then added to the mortgage balance, which grows every month.
coultrane 3 years ago
Foreign central banks, particularly China's, have in recent years been among the biggest buyers of "agency" bonds, those issued by Fannie, Freddie and other government entities. But they've been backing away. Brad Setser, an economist at the Council on Foreign Relations, noted last month that Federal Reserve data showed foreign central banks were, for the first time in four years, net sellers of agency bonds.
The White House and the Treasury Dept. would not comment on the reports.
Dollar rally?
coultrane 3 years ago
Paulson readies the 'bazooka'
NEW YORK (Fortune) -- It took two months, but the bond market called Henry Paulson's bluff: The Treasury Secretary was widely expected this weekend to announce a plan to take Fannie Mae and Freddie Mac under government control.
News reports say the mortgage giants will be placed under a "conservatorship" of their new regulator, the Federal Housing Finance Agency.
coultrane 3 years ago
how low will gold and silver fall on monday and tuesday based on the FNM and FRE news?
huskie767 3 years ago
bdc03 3 years ago
So is this bailout the endgame then? Like that's it, the start of the next Great Depression?
purenirvana 3 years ago
This is too hard to call, we don't know what psyops and concealed interventions are being planned to keep the USD up and the bond markets liquid.
Assuming, of course, that they announce the FRE FNM bailout on Sunday afternoon before the Asia Pacific markets open.
lc501 3 years ago
secretorchid. This is Bob from Homeland Stupidity. I've got a post over there where we spoke before. It explains most of what's happening today in the context of a socialist Monopoly game. When you think about our economy today in that way, it starts to make sense.
I'm going to regret this. Had to give too much info to get on. VV is one of the good guys, I think, but the men in black will find me now.
1693B 3 years ago
Hi Bob!!
I read your post with Glen from that site, am I the lady you were talking about to Gl? I am glad you started watching VV. It is easier to post here because for one thing you don't have to scroll down like 50 pages to post a comment. Believe me, your comments are welcome here, as you are so intelligent and are "salt of the earth". I am so happy to hear from you! Let's bring G and S and J over too.
secretorchid 3 years ago
Bob--
Your comment" when social order breaks down, what you have will only be worth what it costs someone to take it from you "
Again, another brilliant thought. Bob you should really write a nonfiction book , you would really make the best seller list!! Plus
you would be helping people. I often go back
and re-read your laws of nature. I know you said they're not your laws, you just write them down. But they are 'Bob's rules of order in my book'.
secretorchid 3 years ago
Thank you guys for posting the news.
dbztiki 3 years ago
News is showing 64,000 jobs were lost in august,
but to stay current in the economy we are supposed to gain over 100,000 jobs a month. the news caster announced, " the government is saying we are still nowhere near a recession" .
99 cent store already raised prices above 99 cents and spokesman is supposed to publicly make the announcement Monday..it's like we are in an Ingmar Bergman movie. Surreal, scary but eerily compelling...
secretorchid 3 years ago 4
WASHINGTON (AP) -- The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.
bdc03 3 years ago
Some of the details of the intervention, which could cost taxpayers billions, were not yet available, but are expected to include the departure of Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron, according to the source, who asked not to be named because the plan was yet to be announced.
bdc03 3 years ago
Federal Reserve Chairman Ben Bernanke, Treasury Secretary Henry Paulson and James Lockhart, the companies' chief regulator, met Friday afternoon with the top executives from the mortgage companies and informed them of the government's plan to put the troubled companies into a conservatorship.
bdc03 3 years ago
More than one out of 10 borrowers with a prime adjustable-rate loan is now delinquent or in foreclosure. That portion, 11.3 percent, was up from 9.7 percent in the first quarter and is expected to continue to rise as more homeowners see their monthly payments spike.
Repomex01 3 years ago
The federal government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, several newspapers reported Friday night.
Repomex01 3 years ago
We either have the biggest fools running this country or a calculated transfer of wealth leading to a "new world" for our "homeland".
Makes me frickin sick
BendoverBernanke 3 years ago 3
These guys are pulling an ENRON on the entire f'n country. Sadly, the sheep won't know what hit them until their bank cards stop working. By next year the top songs on billboard will be, "Nobody knows the trouble I've seen." And, "Ain't got the change of a nickel."
coultrane 3 years ago
remake of billy joel's allentown will be number 1
bdc03 3 years ago
The Ponzi Scheme is up... For the people holding the pensions, social security, and crummy us currency, well, you've been taken. GOOD LUCK!
coultrane 3 years ago
The simple question every American needs to ask is- where exactly is this bailout money coming from?
BendoverBernanke 3 years ago
TOO BIG TO FAIL
Mark these words, because it will probably be the headline of the second GREAT DEPRESSION.
coultrane 3 years ago 2
Quoting unidentified sources, the Post said that the companies would be placed under a conservatorship and that the value of the companies' common stock would be diluted but not wiped out, while other securities, including preferred shares, would be protected by the government.
The govt. is, in effect, bailing out sovereign well funds and banks who own the preferred stock. Several banks own some 40 BILLION of PREFERRED stock in BOTH entities.
THERE YA HAVE IT FOLKS. DONE DEAL. EAT IT!
coultrane 3 years ago
Aug . 22 (Bloomberg) — A failure of US mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank.
"If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic," Yu said . "If it is not the end of the world, it is the end of the current international financial system."
gods2fight 3 years ago
Does it make sense to protect SWFs and preferred share holders? It does. Otherwise you may see those textbook "dumping of dollars".
Americans are at the bottom of the food chain, at this point.
gods2fight 3 years ago
Freddie, Fannie Failure Could Be World `Catastrophe,' Yu Says
A failure of U.S. mortgage finance companies Fannie Mae and Freddie Mac could be a catastrophe for the global financial system, said Yu Yongding, a former adviser to China's central bank.
``If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,'' Yu said in e-mailed answers to questions yesterday. `
coultrane 3 years ago
Reports: Fannie Mae, Freddie Mac takeover set
Top execs would be dismissed and common stock diluted under federal plan
The federal government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, several news
outlets reported Friday night.
AND THE DOLLAR IS RALLYING? HAH! The inept, wasteful, govt just added 6 TRILLION TO THEIR BOOKS> Market action should get very interesting over the next 2 months.
coultrane 3 years ago
If feds shore up Fannie and Freddie, what happens to the lesser mortals ( Merryl and Lehman for example ..LOL ).The execs will still make it good with their golden parachutes.
It could be curtains for the banking industry, unless the Feds get really bold and decide to pump in trillions and we have a few wars to destabilize the globe - which is good for the dollar.
gods2fight 3 years ago
"and we have a few wars to destabilize the globe - which is good for the dollar."
Ummm. Chaos and War would be very bad for the dollar. You want $250 oil and $2,000 gold, that's what would happen in WWIII.
rseveran 3 years ago
As of now dollar is still the reserve currency and it is all about flight to safety. Euro could very well be the reserve currency, but that is a couple of years away.But the folks at the congress will make sure they have a few guns pointed where it is required.
gods2fight 3 years ago
Yeah but another war is just too much for the USD. Everything has a limit. The dollar is rising now but trends can and do change quickly. A real flight to safety is gold, something not created in greater quantities because of gov't needs during war.
rseveran 3 years ago