I got to 3:45 and realized this guy was not going to explain what a 'paper economy' is. Instead you talked about how depressing life should be given the circumstances. Well I guess if you are depressed you feel you should depress others.Typical. I will carry on my search else were for knowledge of what a paper economy is.
I wonder what it is going to be like come fall 2009.........
everything todays seems like we are getting better.. yet we all know this is not real... I think when the market drops this time it is going to be a long time until it recovers
There is nobody alive today who was significantly invested in October 1929. We've lost any Human Experiential Knowledge of the factors involved in the *follow-up* fall after the Crash. In 1929 the Dow plummeted, then recovered. On Oct 30, 1929 people woke up and still had jobs, mortgages, stores were still open. It took 3 years for everything to collapse, and 8 years to recover. We're into this thing only 10 months. Lots of life to live.
Our gov' t SOLD out our manufacturing base. Our ecomoy relies on US to buy 75% of our own products and we are supposed to happily be going into deeper debt to prop up our own economy. Wall street and the politicians who are employed back and forth between the two, bailed each other out and stuck us with the bill.
As long as our consumer economy continues to undermine itself with Globalization we will continue this downward slide. We either compartmentalize and give more power to smaller groups such as states or we keep things open and global and end up with an economic osmosis. If we wait until we reach ecoomic equilibrium with India and China then we have a long way to go.
this guy is a bad anylist, watch Tech Ticker on yahoo, im not saying hes wrong or right im saying he uses little stories about bushiness he knows, not really using strong data
Agreed. This uptick in the stock market is being caused by the fed's flood of cash into the economy. The quants are unloading back into the stock market for better returns and this is driving the market up. But insiders are selling their stocks into this upturning market. Not a good sign. This upturn will peter out and when it does your predictions will prove accurate.
Our economy is based on continual growth. If it does not grow we are in trouble. Common sense tells us that we can't continue to spend more than we make. Can't be done. No system can continue to make it if it is based on continually more consumption.
Holland Michigan has terrible unemployment, my company makes 30 to 60 ft yachts and half of our company 800 employees in early2008 has been laid off permanently the other half including me are laid off on and off so far.
Thanks for the videos Daniel I agree with you on everything.
Daniel, thanks for another terrific video. This one was particularly eye-opening for me, and I liked the way you put a human element into the explanation. ("behind each default there is a family") The news has all been so positive lately that, I must admit, I've started doubting whether a collapse will come. You put me back on track with your thorough explanation of "why" and "when", and you give good reasons to back it up. Many thanks!
these evils of the open pandora box are nothing compare with the new evils of the box,the viruses and diaseses.Hope is in the bottom of the box.Let's see the end
Japan is the first country to face a shrinking workforce in absolute terms, crossing the dreaded line in 2005. Its army of pensioners is dipping into the collective coffers. Japan's savings rate has fallen from 14pc of GDP to 2pc since 1990. Such a fate looms for Germany, Italy, Korea, Eastern Europe, and eventually China as well.
Japan's $1.5 trillion state pension fund the world's biggest dropped a bombshell this month. It will start selling holdings of Japanese state bonds this year to cover a $40bn shortfall on its books. So how is the Ministry of Finance going to fund a sovereign debt expected to reach 200pc of GDP by 2010 also the world's biggest even assuming that Japan's industry recovers from its 38pc crash?
kenandjasha, could it be they are so strapped for cash, they are awaiting tax payments or even stimulus money to use for refunds? I have heard of some states using stimulus cash to fund their overspending, and suspect all heck will break loose in a year or two when the well runs dry!
Hayman Advisers is betting on the biggest wave of state bankruptcies and restructurings since 1934.
The worst profiles are almost all in Europe the epicentre of leverage, and denial. As the IMF said last week, Europe's banks have written down 17pc of their losses American banks have swallowed half.
"We have spent six months combing through the world's sovereign balance sheets to understand how much leverage we are dealing with.......
I have been waiting 2.5 months now for my 1700 state of Alabama refund... When I fill out the online status form it informs me that my refund has been approved and will be deposited when they get funds? I for one, am not suprised.
"the problem is not sub-prime, or Alt-A mortgage loans, or this or that bank. Governments around the world allowed their banking systems to grow unchecked, in some cases growing into an untenable liability for the host country,"
A disturbing number of states look like Iceland once you dig into the entrails, and most are in Europe where liabilities average 4.2 times GDP, compared with 2pc for the US. "There could be a cluster of defaults over the next three years, possibly sooner,"
British recession deepens and fiscal worries mount Britain's first-quarter economy shrank at the fastest pace since 1979, adding to worries about a sharp increase in government debt.
First-quarter gross domestic product contracted 1.9% from fourth-quarter 2008, the Office for National Statistics reported Friday, in its first estimate of the economy's quarterly performance. That's the steepest fall since the third quarter of 1979.
Are these the glimmers of HOPE we keep on hearing about!
Spain's first quarter unemployment jumps to 17.4%
Unemployment in Spain jumped to 17.4% in the first quarter of 2009, bringing the total number of unemployed to 4,010,700, the National Statistics Institute reported on Friday. In the fourth quarter of last year, Spain recorded an unemployment rate of 13.9%.
My real estate teacher sold for a cool million in 06. I called her in 07 to hear her laughing while renting. She new ahead of time this was coming as she predits to buy back in 2010. Exampe: TRUST NO ONE!
Daniel, you've been nothing less than spot on with prior forecasts, I can sense that the SWHTF around your present timeline. Without the obscene amounts of money thrown at the economy Dow would have been at 100. Thanks again comrade.
Nova scotia now reports 4 cases of Swine flu. Based of the WHO pandemic alert level it seems obvious that human to human transmission is accelerating. Now, the issue that most concerns me and the one that we are not being told the truth about, is how lethal this flu really is. I've read reports that FAR MORE PEOPLE ARE DYING THAN IS BEING REPORTED IN MEXICO.
SEE LINK...
news . bb c. c o . u k/2/hi/talking_point/8018428. s t m
The PANDEMIC AGENDA is to start the elimination of the population who will not find work. The philosophy is if you cant use them anymore get rid of them. Since the stock market is based on CATTLE originally the timing of CASHING in on the CATTLE means to SLAUGHTER your inventory. The STOCK MARKET DECLINE is basically the FALL of HUMANITY no longer being needed. WE ARE IN BIG TROUBLE WHEN YOU THINK ABOUT THE TIMING OF 2012 means POPULATION REDUCTION!!
Astrocreep said: "There are an estimated 600 Trillion in troubled off the books derivatives out there."
I'll try once more. Where do you get this 600 Trillion figure from?
It seems unimaginable. How could such a high number of of derivatives have been generated? Also, doesn't Denninger estimate it to be more like 30 Trillion?
lisaj4liberty there is an article"tim geithner's dirty little secret" by william engdahl; it tells alot about this the cds's. it comes from a report from a fed agency the comptroller of the currency. art is dated 33009, this 1 art. is a real eye opener
i sat down with a bank of america supervisor last night, and i was letting it swing about how the banks have stolen the people dry, destroyed peoples' lives through corruption and greed, manipulation. I told him how a large share of bank of america is owned by the evil CCP. I told him about talking to Hal turner about the leaked stress tests, that confirms 16-19 are "technically" insolvent.
I told him that the entire Federal Banking system will topple over and collapse and will send the economy into spiral, and told him that it does not matter to pay back loans, and nor am i going to pay back sh*t.
Thanks for that reference Watcher. It seems Engdahl is saying the major banks hold 200 trillion in CDS obligations according to the comptroller. ?? Why isn't this front page news?
200 trillion is a crushing sum, and one has to ask the obvious question: how can that sort of money ever be paid back? That sort of balance-sheet debt will be a permenent back hole to our economy. If "we" are on the hook for this money via endless bailouts, we are all ultimately going to be living in caves.
that # is 5 us banks,it is probably larger for the rest of the global finacial parasite as it fed globaly. the tone of engdalhs article is that the present admin is not doing what should be done and in my opinion is sacrificing the entire economy and structure for the new world order coming along. the restructuring is moving along and we reading the signs see change but little hope. but that is in the natural and when we don't understand or have not considered true prophecy. much more. peace
China bought / stocked up gold from 600 tons (2003) to 1000 tons of gold (2009)
they are investing in OIL & Metals long term in a big way. Its the exact opersite to what Wallstreet is telling you to do, they are getting themseves ready for the great collaps comming between now and 2015.
I work as a resident doctor in one of the biggest hospitals in Mexico City and sadly, the situation is far from "under control". As a doctor, I realise that the media does not report the truth. Authorities distributed vaccines among all the medical personnel with no results, because two of my partners who worked in this hospital (interns) were killed by this new virus in less than six days even though they were vaccinated as all of us were.
The official number of deaths is 20, nevertheless, the true number of victims are more than 200. I understand that we must avoid to panic, but telling the truth it might be better now to prevent and avoid more deaths.
Yeny Gregorio Dávila, Mexico City
news . bbc . c o. u k /2/hi/talking_point/8018428. s t m
Hey, if you want to strengthen your immunity. super silver, or collidal silver. and a daily vitamin, will fight any influensa. keep your hands clean and away from your mouth, and DO NOT TAKE THE VACCINE. Do your research!
I have an awesome vid I shot today, they are demolitions model/new homes in southern CA because they cant sell them. Amazing footage of something that is unthinkable.
V V: "I have an awesome vid I shot today, they are demolitions model/new homes in southern CA because they cant sell them. Amazing footage of something that is unthinkable."
Can't wait to see that!
Just a note V V, the housing market isn't nearly as bad in most of the country as you are reporting in Southern California. Isolated places yes, but others are holding up much better. A friend just bought in Austin tx and the average time on the market for homes is 26 days.
I realize that, but 1/3rd of GDP comes from CA. And when you take all the states where home prices are crashing, they account for about 80% of our population in this nation.
MEXICO CITY (Reuters) - Mexican President Felipe Calderon issued an emergency decree on Saturday giving the government special powers to run tests on sick people and order them isolated to fight the deadly flu crisis.
Saturday's decree, published in Mexico's official journal, gives the government power to isolate sick people, enter homes or workplaces and regulate air, sea and land transportation to try to stop further infection.
Will New York shut down public school and other events in light of the confirmed flu cases? What about L A? You've got to wonder given that Mexico has taken such extreme measures. I'd hate to be holding longs right now. We could see a severe gap down, but then again, given our state run markets, it may gap up 2 percent!
New flu has spread widely, cannot be contained-CDC
An unusual new flu virus has spread widely and cannot be contained, the U.S. Centers for Disease Control and Prevention confirmed on Saturday.
"It is clear that this is widespread. And that is why we have let you know that we cannot contain the spread of this virus," the CDC's Dr. Anne Schuchat told reporters on a conference call.
Good question ,the fiscal earning or loss reports for wall street companies always come out the month of september and october,so they can lie all year about earnings till then ....... you will expect SURPRIZES
well what will happen when all of the stimulus money runs out? how can a nation spend and print more money to devalue our dollar? How can a nation survie with all this debt we have created? look up the videos crash course by chris marten. its not paranoia and its not right wing or left wing. its how can we survive as a nation. china is bying up alot of precious metals like copper,gold,silver etc. look up the derivative bubble also.
our debt is too big and it will get bigger. we are printing money like its no tommrow. how will we pay for this? china is buying up gold , silver and many precious. they are going to leave the dollar because we are printing too much money. our dollar is not based on the gold standard anymore so we have fake money. the comercial real esate bubble is about to pop. many nations are going to leave the dollar in the future. this rally u see is a head fake.
So, at what point will "2009" be a repeat of 2008? And why the prediction for the "October" thru to December period? Why does he "implosion" happen there?
all bad news is ignored because of the fall recovery that everyone is expecting. When it doesn't come and they realize just how bad thing are, the dow will play catch up with the real economy.
collateralized debt obligation... trillions of dollars of exposure (number unknown?) ... part of the economic house of cards... i can't explain it here or understand it that well.... google:)
I know this is dumb, but the Mayan calendar says that in November of 2009, we will enter into the stage of the "6th night", so I am predicting that you won't really see things get bad until after November.
we are currently in the 6th Day - which means things 'feel' generally good, or positive, even though that doesn't necessarily make it so.
So, I believe you are more or less correct VV, but I would push back the negative trend until Nov/Dec of 2009.
It is always a very slow process so the public will think it won't / can't happen to them, it only happens to the fool that didn't play his cards well. Education and healthcare will become rapidly pressed issues. Reeducation is critical to the acceptance of the new direction, and healthcare is necessary because of the new levels of poverty. A slow, individual, one by one slide into poverty.
Cites will increase in collections of fees, permits, traffic tickets, and create any quick cash events. New obscure taxes will be created to cover all governmental loss, and one by one the public will slowly fall into poverty. And here's the kicker, you won't care because it will be your neighbor first, and you won't think it can happen to you. It won't come in one BIG BANG
Agree, I noticed it when I lived in Central London,when the Olympics were announced to be coming in 2012 the local government went into overdrive raising revenues,as a motorist it was almost impossible not to receive a ticket for some minor misdemeanor every week.If not paid promptly this would escalate quickly 5 fold.I now live in the country and can't say I miss the influence of Big brother with all the spy cameras and the mini jobsworths who can't wait to spoil your day.Viva la Revolution!
The collapse has occurred; the fallout is now being felt. The decline will be slow, and the desensitizing of the public to the truth is in full swing. Social engineering is the next phase. Dividing neighbor against neighbor, elimination of public unity, so no real or agreed upon (public) solution can be found, therefore, you will accept government direction. Shops will close one by one, not being replaced, all types of inventories will become lower, and lower.
I live in Bellevue, Washington and we have high-rises going up all over the place. Mostly for Microsoft. I spoke with a builder a few months ago. I asked him why he was building at during these economic times. He said it was because of the cheap cost of labor and materials.
The doctors will give them trillions of units of blood, and work into the late hours trying to reattach this arm. Some others arrive at the hospital who are also victims of the same crash, but triage detemines they are not worth saving. Not enough blood for all. In the end our armless individual lives, but the arm could'nt be saved after all that work and blood used. Crash = Economy Collapse. Doctors=Feds. Blood = Stimulus/Tarp $. Victim = You.
The collapse happened. People that do not recognize this are like individuals who have been in a transportaion accident. They are out walking around in shock not knowing the extent of their injuries. Crash? What crash? Oh I seem to have lost an arm. Funny I did not notice that it was gone. Has anyone seen my arm?
When they arrive at hospital, doctors will work in vain trying to sew it back on, and give them units of blood.
As for building, in Austin (an apparently unaffected economy) the cranes on top of the buildings haven't been moving at all for, what, over a year now. They were building all kinds of new downtown condos...we'll see if they get completed.
What is so shocking about this videos is that you are right and the MSM has abdicated like some whacked out druggie its responsibilty to tell the truth and express the angst of America and the world.Has the corporate occupation of MSM and government suceeded so well that we are now inebriated in lies?Thank you for the painful honesty though how long you will be allowed to do so is anyones guess.
Great video! The further descent will start mid to end of the summer. If you factor in tourism, fuel cost, dining and etc. Alot of business rely on the summer season to hold them over. PPl are starting to lose everything. Crime is up! Shootings, Robberies, Murders. Catastrophic job loss. I try to warn people and they dont want to hear it. Put it this way I spoke to some older folks that lived thru this before and it came to this Food/guns/gold and trusted people. Older europeans understood!!!!
Trillions of tons of non biodegradable pollution, trillions more cubic meters of carbon emissions, wasted rainforests, out of control Human population, poisoned oceans, toxic food supply we're headed for Soylent Green world. The Earth is turning into the Grey Marble and you're happy about solar panels?!!
I've been shouting from the rooftops about the fallacy of a service/consumer economy, but anyone who said that 20 years ago was considered a kook. Now as V V and many of his subscribers know it's all a house of cards. The really sad thing is the de-industrialization of America was acomplished by design.
Just to let you guys know, they are reducing your lines of credit and giving that to the emerging middle class in Asian countries. I'm here in the Philippines and your tax money that paid for the bailout is being used to open up new credit cards for Filipino consumers. I'm not liking that one bit. The middle class here saves more than they consume, and this will turn that tradition around.
wow.. very interesting.... Thanks for sharing this info...
This is actually the beginning of the realization of Peter Schiff's predictions on Asian (and particularly Chinese) standard of living going up quickly as the US is dwindling...
Thats correct. Actually a year ago only foreigners were seen with cards having a visa or mastercard logo on them. Now almost every bank atm card has a visa logo on it. In one years time the landscape of consumption has changed.
So the credit driven consumer economy in America is collapsing...that means the state and federal taxes are collapsing...that means America's ability to borrow is collapsing...that means...?
I have experienced the same thing. I have lost over $50,000 worth of credit in the last year. Also not getting credit card offers in the mail everyday. At least that is good for the environment. The funny part is I thought the Govt gave the banks money to lend, but it seems they are doing just the opposite. VV made a great point about the banks' profit. Who can't make a profit with money that has a zero cost?
China has quietly almost doubled its gold reserves to become the worlds fifth-biggest holder of the precious metal, it emerged on Friday, in a move that signals the revival of bullion after years of fading importance.
No, i'm not, and thats just a short term bottom. I believe the final bottom we will see in the dow will be below 1,500 some time in 2011. PE ratios put the dow at 1,500 today if wall street had any integrity.
I see global protectionist agenda by all the big economies. I see mass devaluation of all currencies. Tariffs are possible, similar to Hawley-Smoot, but not yet. The dollar will stay strong, relative to every other currency it is measured against.
Outside of a new global "supercurrency" there is no other possible reserve currencies.
Look at the global currencies 1 by 1...
EURO: doomed, PIGS nations and western European banks are exposed to eastern European deleveraging/
RENMINBI: China has already been actively devaluing it to protect their exports.
FRANK: The Swiss are just starting to be exposed via UBS.
You see, the hundreds of billions of treasuries that the fed is buying up will not do anything substantial to the Dollar. Why?
There are an estimated 600 Trillion in troubled off the books derivatives out there. Add the reverse multiplier effect to the mix.... Massive Deflation ahead for years.
6-12 years from now, when everything is finished unwinding and the global economy (China+Europe) starts to get in its feet.... This is when a US dollar collapse could be a real possibility.
The Debt to GDP ratio will be astronomical in a couple years, think about 8 years from now!
This is when Schiff may be correct about a currency crisis...
However, this is when the FED steps in and raises interest rates to save their only hope, their treasuries...
My timing is different than yours, I just don't see how the dollar is going to make it another 6 years. I think once the world acknowledges a Depression in the U.S. later this year or early 2010 it will put the U.S. dollar in a free fall. We'll see :)
Either way, I'm glad were all preparing no matter what are time frame is.
astrocreep69.. our economy is caught in a deflationary spiral.. assets... commodities shrinking market liquidty all loosing value.. as will the money .. there are only two ways to devalue a currency... one is inflation the other is collapse chose your posion.. woof..
astrocreep69.. our economy is caught in a deflationary spiral.. assets... commodities shrinking market liquidty all loosing value.. as will the money .. there are only two ways to devalue a currency... one is inflation the other is collapse chose your posion.. woof..
During the big recession around 1990, half the small companies in NYC closed down, including mine. It was so nuts -- you'd drop off your clothes at the cleaners and at the end of the day they'd be gone, closed down, and you didn't get your clothes back.
I am so glad I left the USA 15 years ago. I'm helping people who want to move to Europe. But we are having the recession here, too, and it is hard. Be frugal and prepare.
I believe most people will remain with the thinking that were about to turn the corner on this recession/depression until the military comes down the avenue, and even then they'll be happy because at least their bringing us bread, milk and water. they'll just remain in denial, keep watching American Idol and they will drown in their own ignorance.
A strain of flu never seen before has killed up to 60 people in Mexico and also appeared in the United States, where eight people were infected but recovered, health officials said on Friday.
Close analysis showed the disease is a mixture of swine, human and avian viruses, according to the CDC.
Most of the dead were aged between 25 and 45, a health official said. It was a worrying sign as seasonal flu can be more deadly among the very young and the very old but a hallmark of pandemics is that they affect healthy young adults.
Authorities closed schools, museums, libraries and theaters in the capital, Mexico City, to try to contain any possible outbreak. Many people in the capital were wearing face masks while in public. Authorities say 1,000 people have become ill.
Mexico's Health Minister, Jose Angel Cordoba, says the new influenza mutated from pigs to humans and is now considered a "respiratory outbreak." This, he says, is why the Health Ministry in Mexico City is recommending that people avoid crowded places.
Possible Swine Flu Outbreak At NYC Prep School... Most fatal flu victims aged between 25-45... Swine flu could infect trade and travel... Schwarzenegger has 'rigorous' plan... The mysterious respiratory illness... CDC says too late to contain... 60 DEAD: Mexico City launches huge vaccination campaign... CLOSE TO 1,000 SUSPECTED CASES... Heighten Risk of Pandemic... Concerns in California, Texas... Mutated from pigs, transmitted to humans... Mexico has not suffered serious flu epidemic before..
It just goes to show you the power of marketing. It seems only a few of us are interested in the fine print. People buying into this market now are the same type of fools who bought into housing at the peak basing their decisions on overly optimistic projections. The surprise is always how far to the extreme it seems to go before reality sets in. You would think the lesson would be fresh in everyones mind but I guess there will always be optimism that you can sell to a more optimistic fool.
I think---think---there is about $11 trillion held in level 3 with the big banks.
So; as a thought exercise: maybe; the $11 trillion held in level 3 is only worth say $7 trillion.
Who here would pay face value for level 3 assets? Some level 3 has been sold for close to a nickel.
So $7 trillion could be worth $1 trillion? ....could be
---off topic-------Astro points out 'off balance sheet'---this is a big; big; big; deal---trust me--they ain't hiding the good stuff off balance sheet.
It should be noted that most deflation and hyper-inflation guys describe the same forecast. Peter Schiff describes a scenario where everything goes down/dollar collapse and then hyper-inflation. Robert Prechter describes almost the same scenario. Its just that Peter focuses on the currency collapse and Prechter focuses on the mother of all contractions.
Nicely put mate. If you extend this to energy and water you consume as well as products you buy you see that someone somewhere else must be producing lots and lots of them for everyone else. How is this being paid for ???
Even here in Ireland we've a massively fertile country but a lot of our fruit / veg is imported. However, we
DO produce tons of cows if you check out worldmapperDOTorg for stats.
I've a feeling there's a huge imbalance between East and West though that's gonna break ...
Sometime ago, you predicted the Amero coming in about 2010, 2011. If we're invested overseas, and we bring our profits home to the US with the Amero in place, what happens to that money? (We have to bring home the profits to live on sooner or later). What would you do?
this is the worse data ever to come out about the American economy, and in the world, get ready for a mega crash and it is sad to see how many people have been sucked into this rally
Simple and to the point equals effective. Thank you. My WAG (Wild A.. Guess) was Feb 2010.
The usual weakening of the markets in late summer will break this already weak bear rally down hard .
With things seemingly stabilized, the economy is destined to die a slow death, yet when is comes, attitudes will change rapidly and the end will come swiftly. The market is in big part about psychology. We can't count on it to react to numbers, but we can count on it to react when panic strikes
32 million on food stamps, can you imagine them lined up for hand outs at food banks? Or Great Depression 1 soup kitchens. This is all "hidden" from everyone by the use of debit cards for food and unemployment. The debit cards are just electronic transfers, they don't even print the money anymor. Printing bills and coin is too expensive, just key strokes on the computer now.
Get your silver now, it is still really cheap. Water, food, shelter, first aid and the means to defend it.
so let us do a little math 1) US GDP $14 trillion 2). US money supply $15 trillion 3). The GDP of the entire world $45 trillion 4). World real estate market $65 trillion. 5). The world stock and bond markets are $70 trillion. 6). Derivatives worldwide $200 trillion more like $500 but anyway 7) World population 6.8 billion So add this up and you get$409 trillion. now let's suppose there is a worldwide haircut of 10% of wealth—too many got too drunk. That is over $40 trillion gone.
I see your deflation argument, but as a tool & die maker (originally) seeing all of our manufacturing leave, as I see idle farmland here in Oregon because it's cheaper to import and the tax situation is c*ap, I believe we are in for shortages and price inflation. Also, because my social security MUST be inflated away by Uncle Sam. I am among the first of those damned baby boomers.
Nah, the idiots here make a bag of hammers look pretty smart. When I try to say anything about silver, gold, food or paying off debt etc , the Obama zombies think you are attacking their savior.
Your commentary and insight is quite good, IMHO. I did some reading after uneasy feelings in the late 70s and started buying Krugs at $104 each. That worked out well. My point is, the government can prolong the inevitable forever, it seems, but I think the end of the rope is in sight.
When considering the factors 1) No increase in income, 2) no more "flippers", 3) no more 100% financing, 4) Aging demographic; 5) Global wage arbitrage; 6) $8 trillion lost in housing valuations; 7) $6 trillion lost in equities; 8) Banks de-leveraging from 40:1; 9) Unemployment rising; 10) $200 trillion ++++++ in bad dirivitive bets??????? What about this picture suggests more dollars on the street?
so tsg111, you troll everybody except Daniel, whom you suck up to?
are you........ Daniel's other account by any chance? you seem to congratulate each other a lot, while he's constructive to others and you're a nasty troll. yuck
NYC Heath Department: 75 kids sickened at 1 school
NEW YORK -- New York City health officials say that about 75 students at a Queens high school have fallen ill with flu-like symptoms and testing is under way to rule out the strain of swine flu that has killed dozens in Mexico.
I got to 3:45 and realized this guy was not going to explain what a 'paper economy' is. Instead you talked about how depressing life should be given the circumstances. Well I guess if you are depressed you feel you should depress others.Typical. I will carry on my search else were for knowledge of what a paper economy is.
MicrosoftsourceCode 1 year ago
I wonder what it is going to be like come fall 2009.........
everything todays seems like we are getting better.. yet we all know this is not real... I think when the market drops this time it is going to be a long time until it recovers
cds162 2 years ago
There is nobody alive today who was significantly invested in October 1929. We've lost any Human Experiential Knowledge of the factors involved in the *follow-up* fall after the Crash. In 1929 the Dow plummeted, then recovered. On Oct 30, 1929 people woke up and still had jobs, mortgages, stores were still open. It took 3 years for everything to collapse, and 8 years to recover. We're into this thing only 10 months. Lots of life to live.
WallaNutz 2 years ago
Our gov' t SOLD out our manufacturing base. Our ecomoy relies on US to buy 75% of our own products and we are supposed to happily be going into deeper debt to prop up our own economy. Wall street and the politicians who are employed back and forth between the two, bailed each other out and stuck us with the bill.
justpickanyname 2 years ago 5
As long as our consumer economy continues to undermine itself with Globalization we will continue this downward slide. We either compartmentalize and give more power to smaller groups such as states or we keep things open and global and end up with an economic osmosis. If we wait until we reach ecoomic equilibrium with India and China then we have a long way to go.
davecros 2 years ago 2
this guy is a bad anylist, watch Tech Ticker on yahoo, im not saying hes wrong or right im saying he uses little stories about bushiness he knows, not really using strong data
mexprince1 2 years ago
Agreed. This uptick in the stock market is being caused by the fed's flood of cash into the economy. The quants are unloading back into the stock market for better returns and this is driving the market up. But insiders are selling their stocks into this upturning market. Not a good sign. This upturn will peter out and when it does your predictions will prove accurate.
pepeledog 2 years ago
who wouldn't be profitable ...in the environment they created for themselves ....madness ...pure madness...
bobbybubblehead 2 years ago
Thanks to the likes of Wal-Mart. Main Street got screwed over a while back!
Intransitman 2 years ago
Thanks for doing what you do. Precise, to the point, and no bull.
NoLongerFooled 2 years ago
Crime is gonna sky rocket.
0bodobod0 2 years ago 2
Thanks Daniel for your predictions: The Dow to fall back now to 7,000 and bounce back to 9,000 before the big fall/winter sell-off to Dow 4,000.
ndell7 2 years ago
I'm thinking we get a repeats of last summer ... selloff begins in AUGUST 2009.
karenbcz22 2 years ago
Daniel,
When does the fall back to the 6,500 - 7,000 range begin?
Thanks.
ndell7 2 years ago
Our economy is based on continual growth. If it does not grow we are in trouble. Common sense tells us that we can't continue to spend more than we make. Can't be done. No system can continue to make it if it is based on continually more consumption.
Stan1208 2 years ago 3
Holland Michigan has terrible unemployment, my company makes 30 to 60 ft yachts and half of our company 800 employees in early2008 has been laid off permanently the other half including me are laid off on and off so far.
Thanks for the videos Daniel I agree with you on everything.
jaingxu 2 years ago
Daniel, thanks for another terrific video. This one was particularly eye-opening for me, and I liked the way you put a human element into the explanation. ("behind each default there is a family") The news has all been so positive lately that, I must admit, I've started doubting whether a collapse will come. You put me back on track with your thorough explanation of "why" and "when", and you give good reasons to back it up. Many thanks!
ckpac 2 years ago
these evils of the open pandora box are nothing compare with the new evils of the box,the viruses and diaseses.Hope is in the bottom of the box.Let's see the end
antonKASA2007 2 years ago
Concise as always--great work brother!!
axishans 2 years ago
thx for the comments
visionvictory 2 years ago
I wonder how this swine flu will effect the economy. It's going to make companies go out of business as they quarantine everything most likely.
markymarkuss777 2 years ago
Japan is the first country to face a shrinking workforce in absolute terms, crossing the dreaded line in 2005. Its army of pensioners is dipping into the collective coffers. Japan's savings rate has fallen from 14pc of GDP to 2pc since 1990. Such a fate looms for Germany, Italy, Korea, Eastern Europe, and eventually China as well.
Ambrose
TGSIII 2 years ago
Japan's $1.5 trillion state pension fund the world's biggest dropped a bombshell this month. It will start selling holdings of Japanese state bonds this year to cover a $40bn shortfall on its books. So how is the Ministry of Finance going to fund a sovereign debt expected to reach 200pc of GDP by 2010 also the world's biggest even assuming that Japan's industry recovers from its 38pc crash?
TGSIII 2 years ago
who is ambrose
TENNSUMITSUMA 2 years ago
Thanks again, Daniel! Keep it up.
kenandjasha, could it be they are so strapped for cash, they are awaiting tax payments or even stimulus money to use for refunds? I have heard of some states using stimulus cash to fund their overspending, and suspect all heck will break loose in a year or two when the well runs dry!
dmger14 2 years ago
thnx for the post
hermbilliamherm18 2 years ago
sounds about right to me
do you think there will be pressure from the international community to force decoupling from the US market?
maybe the SDR scenario will be a reality by mid 2010
patriotsundergod 2 years ago
Hayman Advisers is betting on the biggest wave of state bankruptcies and restructurings since 1934.
The worst profiles are almost all in Europe the epicentre of leverage, and denial. As the IMF said last week, Europe's banks have written down 17pc of their losses American banks have swallowed half.
"We have spent six months combing through the world's sovereign balance sheets to understand how much leverage we are dealing with.......
said Hayman's Kyle Bass.
TGSIII 2 years ago
I have been waiting 2.5 months now for my 1700 state of Alabama refund... When I fill out the online status form it informs me that my refund has been approved and will be deposited when they get funds? I for one, am not suprised.
kenandjasha 2 years ago
"the problem is not sub-prime, or Alt-A mortgage loans, or this or that bank. Governments around the world allowed their banking systems to grow unchecked, in some cases growing into an untenable liability for the host country,"
A disturbing number of states look like Iceland once you dig into the entrails, and most are in Europe where liabilities average 4.2 times GDP, compared with 2pc for the US. "There could be a cluster of defaults over the next three years, possibly sooner,"
Ambrose
TGSIII 2 years ago
British recession deepens and fiscal worries mount Britain's first-quarter economy shrank at the fastest pace since 1979, adding to worries about a sharp increase in government debt.
First-quarter gross domestic product contracted 1.9% from fourth-quarter 2008, the Office for National Statistics reported Friday, in its first estimate of the economy's quarterly performance. That's the steepest fall since the third quarter of 1979.
Are these the glimmers of HOPE we keep on hearing about!
coultrane 2 years ago
Spain's first quarter unemployment jumps to 17.4%
Unemployment in Spain jumped to 17.4% in the first quarter of 2009, bringing the total number of unemployed to 4,010,700, the National Statistics Institute reported on Friday. In the fourth quarter of last year, Spain recorded an unemployment rate of 13.9%.
coultrane 2 years ago
So, what is the end game? What is the final-end result at the end of 2009?
southdakota1001 2 years ago
Mexican citizens blog about what is really happening with swine flu.
watch?v=1BNIz0c4vA4
BendoverBernanke 2 years ago
My real estate teacher sold for a cool million in 06. I called her in 07 to hear her laughing while renting. She new ahead of time this was coming as she predits to buy back in 2010. Exampe: TRUST NO ONE!
Beingreal40 2 years ago
Daniel, you've been nothing less than spot on with prior forecasts, I can sense that the SWHTF around your present timeline. Without the obscene amounts of money thrown at the economy Dow would have been at 100. Thanks again comrade.
Eyebeemz 2 years ago
Nova scotia now reports 4 cases of Swine flu. Based of the WHO pandemic alert level it seems obvious that human to human transmission is accelerating. Now, the issue that most concerns me and the one that we are not being told the truth about, is how lethal this flu really is. I've read reports that FAR MORE PEOPLE ARE DYING THAN IS BEING REPORTED IN MEXICO.
SEE LINK...
news . bb c. c o . u k/2/hi/talking_point/8018428. s t m
coultrane 2 years ago
The PANDEMIC AGENDA is to start the elimination of the population who will not find work. The philosophy is if you cant use them anymore get rid of them. Since the stock market is based on CATTLE originally the timing of CASHING in on the CATTLE means to SLAUGHTER your inventory. The STOCK MARKET DECLINE is basically the FALL of HUMANITY no longer being needed. WE ARE IN BIG TROUBLE WHEN YOU THINK ABOUT THE TIMING OF 2012 means POPULATION REDUCTION!!
POWERequalsGOD 2 years ago
Astrocreep said: "There are an estimated 600 Trillion in troubled off the books derivatives out there."
I'll try once more. Where do you get this 600 Trillion figure from?
It seems unimaginable. How could such a high number of of derivatives have been generated? Also, doesn't Denninger estimate it to be more like 30 Trillion?
LisaJ4Liberty 2 years ago
lisaj4liberty there is an article"tim geithner's dirty little secret" by william engdahl; it tells alot about this the cds's. it comes from a report from a fed agency the comptroller of the currency. art is dated 33009, this 1 art. is a real eye opener
watcher0777 2 years ago
i sat down with a bank of america supervisor last night, and i was letting it swing about how the banks have stolen the people dry, destroyed peoples' lives through corruption and greed, manipulation. I told him how a large share of bank of america is owned by the evil CCP. I told him about talking to Hal turner about the leaked stress tests, that confirms 16-19 are "technically" insolvent.
mitchee009 2 years ago
I told him that the entire Federal Banking system will topple over and collapse and will send the economy into spiral, and told him that it does not matter to pay back loans, and nor am i going to pay back sh*t.
He concurred wholeheartedly.
mitchee009 2 years ago
Thanks for that reference Watcher. It seems Engdahl is saying the major banks hold 200 trillion in CDS obligations according to the comptroller. ?? Why isn't this front page news?
200 trillion is a crushing sum, and one has to ask the obvious question: how can that sort of money ever be paid back? That sort of balance-sheet debt will be a permenent back hole to our economy. If "we" are on the hook for this money via endless bailouts, we are all ultimately going to be living in caves.
LisaJ4Liberty 2 years ago
that # is 5 us banks,it is probably larger for the rest of the global finacial parasite as it fed globaly. the tone of engdalhs article is that the present admin is not doing what should be done and in my opinion is sacrificing the entire economy and structure for the new world order coming along. the restructuring is moving along and we reading the signs see change but little hope. but that is in the natural and when we don't understand or have not considered true prophecy. much more. peace
watcher0777 2 years ago
China bought / stocked up gold from 600 tons (2003) to 1000 tons of gold (2009)
they are investing in OIL & Metals long term in a big way. Its the exact opersite to what Wallstreet is telling you to do, they are getting themseves ready for the great collaps comming between now and 2015.
LastReplaySC 2 years ago
If you want to build your Immune system look into these items.
1) Silver biotics
2) Oil of oregano
3) Grape leaf extract
4) Black elderberry extract
5) large doses of Vitamin C
Research these especially the Oil of Oregano , they are good against hundreds of strains of Virus , Bacterias and even fungus.
GreenacresEmigrant 2 years ago 4
Thank you, Greenacres. I'm going to pass that on.
elpilotoazul 2 years ago
Sorry,
It's not Grape leaf extract ,Olive leaf extract is the correct item.
GreenacresEmigrant 2 years ago
Also look up Rosemary Antiviral. You can make a tincture of fresh rosemary in alcohol as an anti-viral treatment. =^[.]^=
Raycheetah 2 years ago
Mexico FLU STATUS!
I work as a resident doctor in one of the biggest hospitals in Mexico City and sadly, the situation is far from "under control". As a doctor, I realise that the media does not report the truth. Authorities distributed vaccines among all the medical personnel with no results, because two of my partners who worked in this hospital (interns) were killed by this new virus in less than six days even though they were vaccinated as all of us were.
coultrane 2 years ago
The official number of deaths is 20, nevertheless, the true number of victims are more than 200. I understand that we must avoid to panic, but telling the truth it might be better now to prevent and avoid more deaths.
Yeny Gregorio Dávila, Mexico City
news . bbc . c o. u k /2/hi/talking_point/8018428. s t m
coultrane 2 years ago
watch?v=r5viULFPg8s
Hey, if you want to strengthen your immunity. super silver, or collidal silver. and a daily vitamin, will fight any influensa. keep your hands clean and away from your mouth, and DO NOT TAKE THE VACCINE. Do your research!
SilverWealth23 2 years ago 3
Search for COLLOIDAL SILVER DR. BOB BECK in here and see how to make colloidal silver.
I have used it and it works fine.
Saludos de Mexicali, México.
ellibrepensador 2 years ago
I have an awesome vid I shot today, they are demolitions model/new homes in southern CA because they cant sell them. Amazing footage of something that is unthinkable.
visionvictory 2 years ago
V V: "I have an awesome vid I shot today, they are demolitions model/new homes in southern CA because they cant sell them. Amazing footage of something that is unthinkable."
Can't wait to see that!
Just a note V V, the housing market isn't nearly as bad in most of the country as you are reporting in Southern California. Isolated places yes, but others are holding up much better. A friend just bought in Austin tx and the average time on the market for homes is 26 days.
i4Truth 2 years ago
I realize that, but 1/3rd of GDP comes from CA. And when you take all the states where home prices are crashing, they account for about 80% of our population in this nation.
visionvictory 2 years ago
realize - real eyes
BendoverBernanke 2 years ago
Mexico gov't decrees special powers in flu crisis
MEXICO CITY (Reuters) - Mexican President Felipe Calderon issued an emergency decree on Saturday giving the government special powers to run tests on sick people and order them isolated to fight the deadly flu crisis.
Saturday's decree, published in Mexico's official journal, gives the government power to isolate sick people, enter homes or workplaces and regulate air, sea and land transportation to try to stop further infection.
coultrane 2 years ago
Will New York shut down public school and other events in light of the confirmed flu cases? What about L A? You've got to wonder given that Mexico has taken such extreme measures. I'd hate to be holding longs right now. We could see a severe gap down, but then again, given our state run markets, it may gap up 2 percent!
coultrane 2 years ago
Daniel,
What say you about this flu outbreak??? Timing is very interesting... could be good cover for the criminals in power.
ThunderMan1969 2 years ago 3
I don't know, but I'm keeping a close eye on it. My wife is pregnant, so Ive raised the alert status at my house ;)
visionvictory 2 years ago
RFID Chips are here. Get yours today. Source MSN home page article in "BusinessWeek" Chips are for "health care" ya right
jonnysport89 2 years ago
Ooooh, ooooh. I want one!
arcanekrusader 2 years ago
" the last act
of a collapsing economy
is the looting
of the treasury "
quote....
from some
old greek guy
chena3 2 years ago
No woof?
I saw you write a whole paragraph the other day with no WOOF? WTF?
Astrocreep69 2 years ago
probably
ran out
of spaces...
woof...
got any biscuits
chena3 2 years ago 2
I keep
many biscuits
on hand..
Three hungry pit bulls
eat and poop lots...
woof...
Astrocreep69 2 years ago
New flu has spread widely, cannot be contained-CDC
An unusual new flu virus has spread widely and cannot be contained, the U.S. Centers for Disease Control and Prevention confirmed on Saturday.
"It is clear that this is widespread. And that is why we have let you know that we cannot contain the spread of this virus," the CDC's Dr. Anne Schuchat told reporters on a conference call.
coultrane 2 years ago
Good question ,the fiscal earning or loss reports for wall street companies always come out the month of september and october,so they can lie all year about earnings till then ....... you will expect SURPRIZES
lignumwolf 2 years ago
and the FoxNews-esque paranoia continues.
This is just a speed-bump folks...
Once the energy/green plan gets into full swing, the Jobs will be handed out like gov't cheese (or food stamps for that matter).
Don't know about you all, but I can't wait to start training for the green Job Obama has created via the stimulus package...
Have PATIENCE people ! Jeez.
bgrim2008 2 years ago
Right.... 3.5 Million "green" jobs. I'm still waiting on the definition of a "green job"...
Astrocreep69 2 years ago
Pls tell me you forgot to put "jk" at the end of this.
Bloodstryke 2 years ago
well what will happen when all of the stimulus money runs out? how can a nation spend and print more money to devalue our dollar? How can a nation survie with all this debt we have created? look up the videos crash course by chris marten. its not paranoia and its not right wing or left wing. its how can we survive as a nation. china is bying up alot of precious metals like copper,gold,silver etc. look up the derivative bubble also.
reddragonkiller7 2 years ago
our debt is too big and it will get bigger. we are printing money like its no tommrow. how will we pay for this? china is buying up gold , silver and many precious. they are going to leave the dollar because we are printing too much money. our dollar is not based on the gold standard anymore so we have fake money. the comercial real esate bubble is about to pop. many nations are going to leave the dollar in the future. this rally u see is a head fake.
reddragonkiller7 2 years ago 2
So, at what point will "2009" be a repeat of 2008? And why the prediction for the "October" thru to December period? Why does he "implosion" happen there?
southdakota1001 2 years ago
all bad news is ignored because of the fall recovery that everyone is expecting. When it doesn't come and they realize just how bad thing are, the dow will play catch up with the real economy.
visionvictory 2 years ago
GM EMPLOYEES STOCK FUND
DUMPS ALL COMPANY SHARES
my bad...
chena3 2 years ago
this is so not good...
fal2grace 2 years ago
GM EMPLOYEES STOCK FUND
DUMPS ALL SHARES.....
reported by ...MISH.....google for link
here we go guys ..
gmac holds massive
cdo cds exposure...
chena3 2 years ago
what is cdo?
3dbeing 2 years ago
collateralized debt obligation... trillions of dollars of exposure (number unknown?) ... part of the economic house of cards... i can't explain it here or understand it that well.... google:)
fal2grace 2 years ago
I know this is dumb, but the Mayan calendar says that in November of 2009, we will enter into the stage of the "6th night", so I am predicting that you won't really see things get bad until after November.
we are currently in the 6th Day - which means things 'feel' generally good, or positive, even though that doesn't necessarily make it so.
So, I believe you are more or less correct VV, but I would push back the negative trend until Nov/Dec of 2009.
FurkDaJerk 2 years ago
It is always a very slow process so the public will think it won't / can't happen to them, it only happens to the fool that didn't play his cards well. Education and healthcare will become rapidly pressed issues. Reeducation is critical to the acceptance of the new direction, and healthcare is necessary because of the new levels of poverty. A slow, individual, one by one slide into poverty.
InkedXyz 2 years ago 2
Cites will increase in collections of fees, permits, traffic tickets, and create any quick cash events. New obscure taxes will be created to cover all governmental loss, and one by one the public will slowly fall into poverty. And here's the kicker, you won't care because it will be your neighbor first, and you won't think it can happen to you. It won't come in one BIG BANG
InkedXyz 2 years ago 2
Agree, I noticed it when I lived in Central London,when the Olympics were announced to be coming in 2012 the local government went into overdrive raising revenues,as a motorist it was almost impossible not to receive a ticket for some minor misdemeanor every week.If not paid promptly this would escalate quickly 5 fold.I now live in the country and can't say I miss the influence of Big brother with all the spy cameras and the mini jobsworths who can't wait to spoil your day.Viva la Revolution!
jj4u007 2 years ago
The collapse has occurred; the fallout is now being felt. The decline will be slow, and the desensitizing of the public to the truth is in full swing. Social engineering is the next phase. Dividing neighbor against neighbor, elimination of public unity, so no real or agreed upon (public) solution can be found, therefore, you will accept government direction. Shops will close one by one, not being replaced, all types of inventories will become lower, and lower.
InkedXyz 2 years ago
I live in Bellevue, Washington and we have high-rises going up all over the place. Mostly for Microsoft. I spoke with a builder a few months ago. I asked him why he was building at during these economic times. He said it was because of the cheap cost of labor and materials.
newgtguy 2 years ago
The doctors will give them trillions of units of blood, and work into the late hours trying to reattach this arm. Some others arrive at the hospital who are also victims of the same crash, but triage detemines they are not worth saving. Not enough blood for all. In the end our armless individual lives, but the arm could'nt be saved after all that work and blood used. Crash = Economy Collapse. Doctors=Feds. Blood = Stimulus/Tarp $. Victim = You.
scienceofgod 2 years ago
The collapse happened. People that do not recognize this are like individuals who have been in a transportaion accident. They are out walking around in shock not knowing the extent of their injuries. Crash? What crash? Oh I seem to have lost an arm. Funny I did not notice that it was gone. Has anyone seen my arm?
When they arrive at hospital, doctors will work in vain trying to sew it back on, and give them units of blood.
scienceofgod 2 years ago
Daniel,
Do you think the bankruptcy of Chrysler and GM may speed the process of collapse into the summer?
shoeman3434 2 years ago
no there will be a new foreign company to replace it ....everything will be ok...hahahahahaha
haole80 2 years ago
no, because the government will find a way to make it so everyone still gets paid LOL
visionvictory 2 years ago
As for building, in Austin (an apparently unaffected economy) the cranes on top of the buildings haven't been moving at all for, what, over a year now. They were building all kinds of new downtown condos...we'll see if they get completed.
onemindonespirit 2 years ago
What is so shocking about this videos is that you are right and the MSM has abdicated like some whacked out druggie its responsibilty to tell the truth and express the angst of America and the world.Has the corporate occupation of MSM and government suceeded so well that we are now inebriated in lies?Thank you for the painful honesty though how long you will be allowed to do so is anyones guess.
justjacqueline2004 2 years ago
Great video! The further descent will start mid to end of the summer. If you factor in tourism, fuel cost, dining and etc. Alot of business rely on the summer season to hold them over. PPl are starting to lose everything. Crime is up! Shootings, Robberies, Murders. Catastrophic job loss. I try to warn people and they dont want to hear it. Put it this way I spoke to some older folks that lived thru this before and it came to this Food/guns/gold and trusted people. Older europeans understood!!!!
just40fus 2 years ago
Now it's Asia's turn to plunder, pollute, and deplete what's left of the planet. There is no hope.
MISTAMAYBACH 2 years ago 7
there is one bright spot. The Chinese are actually making solar panels cheaper by manufacturing their own.
FENXMillennia 2 years ago
Trillions of tons of non biodegradable pollution, trillions more cubic meters of carbon emissions, wasted rainforests, out of control Human population, poisoned oceans, toxic food supply we're headed for Soylent Green world. The Earth is turning into the Grey Marble and you're happy about solar panels?!!
MISTAMAYBACH 2 years ago
So then the best solution is to do nothing?
FENXMillennia 2 years ago
I've been shouting from the rooftops about the fallacy of a service/consumer economy, but anyone who said that 20 years ago was considered a kook. Now as V V and many of his subscribers know it's all a house of cards. The really sad thing is the de-industrialization of America was acomplished by design.
i4Truth 2 years ago
Just to let you guys know, they are reducing your lines of credit and giving that to the emerging middle class in Asian countries. I'm here in the Philippines and your tax money that paid for the bailout is being used to open up new credit cards for Filipino consumers. I'm not liking that one bit. The middle class here saves more than they consume, and this will turn that tradition around.
FENXMillennia 2 years ago 5
wow.. very interesting.... Thanks for sharing this info...
This is actually the beginning of the realization of Peter Schiff's predictions on Asian (and particularly Chinese) standard of living going up quickly as the US is dwindling...
kapaka12 2 years ago 2
You're welcome. I'll try to put up some video.
Thats correct. Actually a year ago only foreigners were seen with cards having a visa or mastercard logo on them. Now almost every bank atm card has a visa logo on it. In one years time the landscape of consumption has changed.
FENXMillennia 2 years ago
So the credit driven consumer economy in America is collapsing...that means the state and federal taxes are collapsing...that means America's ability to borrow is collapsing...that means...?
siddhaam 2 years ago 2
That means we are no where near the bottom.
i4Truth 2 years ago
Comment removed
scienceofgod 2 years ago
bingo!!!!!!
i have great credit and not much debt and they are cutting my limits big time!!!!
mejt223 2 years ago 2
I have experienced the same thing. I have lost over $50,000 worth of credit in the last year. Also not getting credit card offers in the mail everyday. At least that is good for the environment. The funny part is I thought the Govt gave the banks money to lend, but it seems they are doing just the opposite. VV made a great point about the banks' profit. Who can't make a profit with money that has a zero cost?
wesleyhux 2 years ago
Comment removed
scienceofgod 2 years ago
CHASE did the same thing to my HELOC.
visionvictory 2 years ago
China reveals big rise in gold reserves
China has quietly almost doubled its gold reserves to become the worlds fifth-biggest holder of the precious metal, it emerged on Friday, in a move that signals the revival of bullion after years of fading importance.
coultrane 2 years ago
Follow the foot steps of the elephants ;)
visionvictory 2 years ago
just watch out
for piles of elephant poo...
chena3 2 years ago
lol :)
visionvictory 2 years ago
4000 at dow? r u joking?
rosewood223 2 years ago
No, i'm not, and thats just a short term bottom. I believe the final bottom we will see in the dow will be below 1,500 some time in 2011. PE ratios put the dow at 1,500 today if wall street had any integrity.
visionvictory 2 years ago
What about skipping hyper-inflation altogether?
blueprophet9 2 years ago
exactly, hyperinflation will not happen. WHY?
Because if inflation expectation ever do arise, the FED will NEVER just sit back and watch their treasuries be compromised.
They have set precedent under Volcker in the early 80's...
Astrocreep69 2 years ago
Astro- do you see a currency collapse?
visionvictory 2 years ago
I see global protectionist agenda by all the big economies. I see mass devaluation of all currencies. Tariffs are possible, similar to Hawley-Smoot, but not yet. The dollar will stay strong, relative to every other currency it is measured against.
Outside of a new global "supercurrency" there is no other possible reserve currencies.
Look at the global currencies 1 by 1...
EURO: doomed, PIGS nations and western European banks are exposed to eastern European deleveraging/
Astrocreep69 2 years ago
YEN: Japan is doomed, plain and simple.
RENMINBI: China has already been actively devaluing it to protect their exports.
FRANK: The Swiss are just starting to be exposed via UBS.
You see, the hundreds of billions of treasuries that the fed is buying up will not do anything substantial to the Dollar. Why?
There are an estimated 600 Trillion in troubled off the books derivatives out there. Add the reverse multiplier effect to the mix.... Massive Deflation ahead for years.
Astrocreep69 2 years ago
6-12 years from now, when everything is finished unwinding and the global economy (China+Europe) starts to get in its feet.... This is when a US dollar collapse could be a real possibility.
The Debt to GDP ratio will be astronomical in a couple years, think about 8 years from now!
This is when Schiff may be correct about a currency crisis...
However, this is when the FED steps in and raises interest rates to save their only hope, their treasuries...
What are your thoughts Daniel?
Astrocreep69 2 years ago
My timing is different than yours, I just don't see how the dollar is going to make it another 6 years. I think once the world acknowledges a Depression in the U.S. later this year or early 2010 it will put the U.S. dollar in a free fall. We'll see :)
Either way, I'm glad were all preparing no matter what are time frame is.
thx for the comments
visionvictory 2 years ago
hyper prices
will come
with currency collaspe
different terminology
same results...
chena3 2 years ago
With all respect, I think you are confused Chena. Woof.
Karl Dennenger has done a great job of explaining deflation over the past year...
Here is a great blog on the concept of inflation/deflaiton... This Blog is in layman's terms and explains it very good:
economicedge. blogspot. com/2009/02/inflation-or-deflation-its-mystery.html
Remove spaces
Astrocreep69 2 years ago
Comment removed
chena3 2 years ago
Comment removed
chena3 2 years ago
do not confuse
deflation
and
devaluation
two different beasts
chew on that biscuit...
woof...
chena3 2 years ago
This has been flagged as spam show
chena3 2 years ago
This has been flagged as spam show
chena3 2 years ago
You are right.
During the big recession around 1990, half the small companies in NYC closed down, including mine. It was so nuts -- you'd drop off your clothes at the cleaners and at the end of the day they'd be gone, closed down, and you didn't get your clothes back.
I am so glad I left the USA 15 years ago. I'm helping people who want to move to Europe. But we are having the recession here, too, and it is hard. Be frugal and prepare.
Good vid as usual.
slobomotion 2 years ago
I believe most people will remain with the thinking that were about to turn the corner on this recession/depression until the military comes down the avenue, and even then they'll be happy because at least their bringing us bread, milk and water. they'll just remain in denial, keep watching American Idol and they will drown in their own ignorance.
strawjam59 2 years ago 3
A strain of flu never seen before has killed up to 60 people in Mexico and also appeared in the United States, where eight people were infected but recovered, health officials said on Friday.
Close analysis showed the disease is a mixture of swine, human and avian viruses, according to the CDC.
coultrane 2 years ago
Most of the dead were aged between 25 and 45, a health official said. It was a worrying sign as seasonal flu can be more deadly among the very young and the very old but a hallmark of pandemics is that they affect healthy young adults.
This obviously is a HUGE concern.
coultrane 2 years ago 2
Authorities closed schools, museums, libraries and theaters in the capital, Mexico City, to try to contain any possible outbreak. Many people in the capital were wearing face masks while in public. Authorities say 1,000 people have become ill.
Mexico's Health Minister, Jose Angel Cordoba, says the new influenza mutated from pigs to humans and is now considered a "respiratory outbreak." This, he says, is why the Health Ministry in Mexico City is recommending that people avoid crowded places.
coultrane 2 years ago
@coultrane: IMO, if the current flu outbreak gets serious and/or pandemic we`ll see a shutdown soon.
pauline404 2 years ago
WHO will be making emergency recommendations soon.
coultrane 2 years ago
coultrane 2 years ago
It just goes to show you the power of marketing. It seems only a few of us are interested in the fine print. People buying into this market now are the same type of fools who bought into housing at the peak basing their decisions on overly optimistic projections. The surprise is always how far to the extreme it seems to go before reality sets in. You would think the lesson would be fresh in everyones mind but I guess there will always be optimism that you can sell to a more optimistic fool.
Teyec00n 2 years ago
I think---think---there is about $11 trillion held in level 3 with the big banks.
So; as a thought exercise: maybe; the $11 trillion held in level 3 is only worth say $7 trillion.
Who here would pay face value for level 3 assets? Some level 3 has been sold for close to a nickel.
So $7 trillion could be worth $1 trillion? ....could be
---off topic-------Astro points out 'off balance sheet'---this is a big; big; big; deal---trust me--they ain't hiding the good stuff off balance sheet.
TGSIII 2 years ago
Just think how ridiculous we are.
We can't manufacture anything that anybody wants to buy at a price that can generate a profit once the costs of labor and regulation are taken out.
Hurray for OSHA, UAW, EPA, AFL-CIO, Trial Lawyers, paper money, and government education!
hrosemd 2 years ago
Deflation/inflation - I'm happy that people are starting to see that the macro-economic situation for this country is dire.
visionvictory 2 years ago
It should be noted that most deflation and hyper-inflation guys describe the same forecast. Peter Schiff describes a scenario where everything goes down/dollar collapse and then hyper-inflation. Robert Prechter describes almost the same scenario. Its just that Peter focuses on the currency collapse and Prechter focuses on the mother of all contractions.
thx for the comments
visionvictory 2 years ago
Every day i eat about 5 lbs. of food. But each day, I produce 1 lb of food.
I have done this for awhile-- I had some supplies; i had a credit card.
At some point, I must produce at the rate of my consumption rate.
Simple: Produce more, consume less or some combination thereof.
So today I find myself at a crossroad. I think i need to cut back.Or; Bernanke will just give me more money to continue to over consume?
this conundrum is giving me a stomach ache.
TGSIII 2 years ago
Nicely put mate. If you extend this to energy and water you consume as well as products you buy you see that someone somewhere else must be producing lots and lots of them for everyone else. How is this being paid for ???
Even here in Ireland we've a massively fertile country but a lot of our fruit / veg is imported. However, we
DO produce tons of cows if you check out worldmapperDOTorg for stats.
I've a feeling there's a huge imbalance between East and West though that's gonna break ...
machinenation 2 years ago
Daniel,
Sometime ago, you predicted the Amero coming in about 2010, 2011. If we're invested overseas, and we bring our profits home to the US with the Amero in place, what happens to that money? (We have to bring home the profits to live on sooner or later). What would you do?
whiskerchild 2 years ago
the amero, if it happens, will be like everything else.
When gold was confiscated in 1933, the government bought it at the spot price, which was fixed around $20/ounce.
I would think the same would happen here.... like $10 USD = $1 amero or something like that.
That will go will all currencies and commodities IMO.
cowboycarl04 2 years ago
this is the worse data ever to come out about the American economy, and in the world, get ready for a mega crash and it is sad to see how many people have been sucked into this rally
pfowler20 2 years ago
Simple and to the point equals effective. Thank you. My WAG (Wild A.. Guess) was Feb 2010.
The usual weakening of the markets in late summer will break this already weak bear rally down hard .
With things seemingly stabilized, the economy is destined to die a slow death, yet when is comes, attitudes will change rapidly and the end will come swiftly. The market is in big part about psychology. We can't count on it to react to numbers, but we can count on it to react when panic strikes
InTheSticks1881 2 years ago
This simple analysis you said here is so spot on. This is an outstanding comment.
elpilotoazul 2 years ago
good vid
seks03 2 years ago
I went to a psychic the other day, and she told me she could tell me my future for $25.
So I slapped down a $100 and said, "Here's a $100, tell me my past."
TGSIII 2 years ago 6
lol good one :)
visionvictory 2 years ago
32 million on food stamps, can you imagine them lined up for hand outs at food banks? Or Great Depression 1 soup kitchens. This is all "hidden" from everyone by the use of debit cards for food and unemployment. The debit cards are just electronic transfers, they don't even print the money anymor. Printing bills and coin is too expensive, just key strokes on the computer now.
Get your silver now, it is still really cheap. Water, food, shelter, first aid and the means to defend it.
prescottbill 2 years ago 2
TGSIII 2 years ago
I see your deflation argument, but as a tool & die maker (originally) seeing all of our manufacturing leave, as I see idle farmland here in Oregon because it's cheaper to import and the tax situation is c*ap, I believe we are in for shortages and price inflation. Also, because my social security MUST be inflated away by Uncle Sam. I am among the first of those damned baby boomers.
Swifive 2 years ago
swifive: better to be the first...at least your check still buys something.
IMO---no disrespect------Set yourself a budget and don't play the game. Don't pay the price increase-
-----that is the game-----to make you spend---keep this thing going.
overall things are gonna get cheaper.
now...... as to the clowns in Portland---all bets are off. y'all still can't pump your own gas? ehh?
TGSIII 2 years ago
Nah, the idiots here make a bag of hammers look pretty smart. When I try to say anything about silver, gold, food or paying off debt etc , the Obama zombies think you are attacking their savior.
Swifive 2 years ago
well Swifive: you have to take the good with the bad.
The good: You live in Oregon; the beauty; the weather; rivers; and valleys.
The bad? I think they constructed all sorts of crazy rules to keep the crazy Californians out.
TGSIII 2 years ago
haha yeah, obama zombies.
yz250thatownsyou 2 years ago
Yeah, but it's pretty obvious that they're not eating BRAINS!
sizzlot 2 years ago
When the dollar collapses, how will this affect consumer credit card debt, mortgages, etc, will the slate get wiped clean?
aran08504 2 years ago
Your commentary and insight is quite good, IMHO. I did some reading after uneasy feelings in the late 70s and started buying Krugs at $104 each. That worked out well. My point is, the government can prolong the inevitable forever, it seems, but I think the end of the rope is in sight.
Swifive 2 years ago
TGSIII 2 years ago
Don't forget 600 Trillion of off the books derivatives...
Astrocreep69 2 years ago
600 Trillion? That's the second time you've posted that. Where do you get that figure from?
LisaJ4Liberty 2 years ago
In view of a USD collapse, is it possible to have prices of goods in USD rising while money in circulation decreases?
nepenthean 2 years ago 3
you dont really talk about market manipulation that often, just wondering why u dont?
Daniyoyo 2 years ago
Inflation //// deflation..... yeah i think it is important to get it right.
But it is less important than the VV message "something stinks"
IMO that is the message VV provides. And that is the main "GET" here.
TGSIII 2 years ago
so tsg111, you troll everybody except Daniel, whom you suck up to?
are you........ Daniel's other account by any chance? you seem to congratulate each other a lot, while he's constructive to others and you're a nasty troll. yuck
myvagine 2 years ago
ms vagina:
way to add to the conversation. tell me more.
TGSIII 2 years ago
Both sides of the story need to be told. Many of us are well educated and believe that Deflation will deliver the death blow...
Daniel deserves credit because he puts himself out there and has encouraged people to prepare.
There is nothing troll about agreeing to disagree.
Astrocreep69 2 years ago
NYC Heath Department: 75 kids sickened at 1 school
NEW YORK -- New York City health officials say that about 75 students at a Queens high school have fallen ill with flu-like symptoms and testing is under way to rule out the strain of swine flu that has killed dozens in Mexico.
coultrane 2 years ago
thanx
chromedreamz 2 years ago