Small Business Is Next

[sthrnynk]

I am employed by a small business. They closed our store at the end of June, and transferred the remaining 4 employees to the home (and only) store, but also cut our hours to 32 per week. I woke up my previous boss, last year, and we know it's only a matter of time before we are all let go. Thankfully, we are mostly ready for what is to come. Thanks to guys like you Charlie.

[mookixox]

We all see the storm coming, I hope theres enough time for more people to get prepared for the backlash...and if they havent opened their eyes yet, then they probably deserve whats in store for them by now...

[danmarcl30]

Like i said , in the Summer jobs usually boom, this summer there is no work and the work there is will not exist in the winter . Its going to get bad.

[danmarcl30]

I love how the GOV say the economy is slightly improving , well it is summer and there is usually more jobs in the summer giving a "very" small bump . Construction and labor jobs are all but dead in my state N.H. ,I look in the paper and there is literally 10-15 jobs posted. This coming winter is when we start to see it getting really bad

[maxinatlanta]

Charlie, it does look like we are getting there. Financial collapse by design. Thank you

[scutter4christ]

From our little rural town, I can tell ya that small business is hurting really badly. We are just a two horse town and we've had several small businesses close this summer already due to the economic downturn. If much else closes, we won't have anything left.

[Magzie01950]

I have all my guns and permits in order..with plenty of ammunition I also have piled up on my can goods.. I have a place high up on the hills with a natural water supply and I'm in for the long haul.. This country is going to the wild dogs in the streets..

[brendandylanmaloney]

You might want to research h s dent. He has a book out called the great depression ahead. He has a website too.He seems pretty accurate in his predictions so far.

[awakenedblckteen1991]

over here in nyc they are thinking of raising taxes 57% to cover obamacare. well most of them voted for obama so they get what they deserve. but they will leave. once they do small buisnesses will have the pay the price.wont be surprised to crime and unemployment go up in two yrs. nice video charlie. your the best man

[mookixox]

Relax with the Obama voter hate...he promised change, he LIED, its not the voters fault...it was either Old man Mccain (96% gwb 'maverick', with his alaskan bombo) or Obama promising change...They are ALL scum bags, all out to destroy america.

[haserterr]

Thanks Charlie, I heard about the CIT and am now even more fearful for my family. We will continue to prepare and thanks for all the insight and info you give to us all

[GODendthefed]

Charlie,

You are so awesome and right. You woke me up to ending the Fed, and I thank that video and this one as my favorites in this fight. God bless you!

[captcaveman4201]

speaking of dunkin dounuts.. i was thinkin ..what would it take to replicate 1 dounut and a cup of coffee?? If you had to take on such an endovor. For these are the type of questions that should be asked. ;)

[jsnip4]

A friend of mine just ran all of his credit cards up on survival type stuff. He bought a couple guns, silver bullion, lots of canned goods, and some 2 way radio/ham radio equipment. Credit will be going away completely in the very near future. Perhaps it was a good idea to run up his credit cards right now. I dunno.

[TracyM1974]

I own a small business and I have been feeling this crunch for 18 months. We have cut back as much as we can. We can't do any capital improvements and American Express cut our business credit down to what we owed. Pretty soon there will be nothing left to cut back and we will go the way of so many other companies.

We sacrificed everything for the business and made such a great place. It is disheartening to see it all fade away.

[3scarletshot3]

There has been a merger between government and corporation/banks. Think about all the Goldman Sachs boys you have in lofty positions. There is no more "revolving door," just a golden archway. The FED walks in and out as well.

[karenbcz22]

Remember this time last year, John McCain??

"The economy is sound" ....

In retrospect, how unbelievable is that!!??

[mejt223]

They let CIT fail on purpose.

Any competition for their fab 5 (JPM,GS,MS,WFC,BAC) must die. There will be no one to fill this lending hole for many many years, if ever.

This was very calculated. And to think the Gov just wrote off their (our) TARP investment into CIT (2.3 billion) is a slap in the face to the American people. WAKE UP AMERICA.

Small and medium business were just given there death sentence.

[WJValente]

Check out Adrian Salbuchi. Good video. :)

[mejt223]

Spray tan Charlie?

Just kidding.

Love your message....thanks!!!!!

[mikeybrumbrum]

I think the problem is the "city". Sities breed unhapiness and rebellion.

The problem is, yuo cant rid of a city, cus they are all full of people.

(unless you think they would create a man made flu, and kill us all, just so they could guarantee the world for themselves - ha h ah ow ridiculous).

[fal2grace]

Great video Charlie. Thank you very much!

[Lynchian74]

It will be a massive contagion. It will be worse than Lehman Brothers.

[bnash2002]

lets celebrate the non bailout. if they did one we would be going ballistic.

[kimxxxyyy]

Oil is Not sustainable! the truth is Everything is based on a unlimited supply of oil, its a sleepily slop! people must grow food organically & locally!

if there's to be ANY Sustainable Future!!

BTW you are right about small business they can not pay, they are not getting paid ):

look up peak oil!!

[hume12345]

kimxxxyyy. richard heinberg ftw.

[watcher0777]

thank you for the heads up. great job mr. peace

[mcgrawtim123]

KDenninger has some good comments about CIT. He says, CIT gives a small business a loan in exchange/collateral for the Accounts Receivable at the S.B.. If the S.B. can't repay the loan, CIT gets the A.R., but if CIT can't collect on the A.R....then bankruptcy for CIT. It all goes back to businesses not being able to collect money owed (accounts receivable) from their customers.

[Repomex01]

Tell me abot it I am a Used car Dealer.

[Mongodelight]

háhaha the german government pays 3500 dollars from crushing your old car and buying a new one.

[rexoid]

I have started checking Kdenningers "market ticker" blog daily.

[justjacqueline2004]

Will the awakening be cognisant?Two years of disaster and still the people are silent ,I do not hold out for a revolution of thought.

[ThndersRage]

IIt is a great second half recovery though right? pffft More businesses go under, more lost jobs and more foreclosures. Second half recovery my, err well you get the point...

[veritasfiles]

Wow, this is truly ridiculous. All I can say is that I hope they can hold it off for as long as possible, so that I and others have as long as possible to prepare for what is obviously going to happen. I don' tthink the average person is going to put this together and actually hold the right people accountable. I think the media will still shill for Obama and he'll still be re-elected in 2012.

[crabbydogtrix]

i hope so too

[aliandream]

great vid, thanks

[crabbydogtrix]

thanks much

[Jaconfilm]

i like ur style.... talk about the truth movement?

[crabbydogtrix]

thank you very much. i tend to stay on the economic side of the truth movement

[drutter]

My small business has been on the brink since October or so. If there's any major turbulence ahead, and I believe there is, I'm in trouble. :(

[crabbydogtrix]

you're not alone D

[delicflower]

Just another nail in the coffin of a once great nation. :(

Get prepared, and try try try to inform friends and family and try to get them to see the forest for the trees.

[crabbydogtrix]

INDEED

[Longeazy]

What is happening in the financial world is senseless because they are throwing billions in to the mix against trillions of losses and expecting to make a profit.... do the math! It goes against common sense! Get rid of all the new age financial instruments and get back to good old fashioned banking based on Glass/Steagal. All you are going to have left is worthless bits of paper and people killing each other to exist in a world that does not care. Real economy is dying fast; Jobs, manufacture..

[crabbydogtrix]

GREAT COMMENT

[ClanRooster]

I think Bank of America and Citigroup are due to report earnings tomorrow as well. Any weakness in their report would be exacerbated by CIT's impending fall.

Does anyone know how CIT faired in the stress-tests?

Thanks again for your insight.

[crabbydogtrix]

CIT was found to require 4 billion in the most adverse stress test , they now need6 to stay afloat

[Longeazy]

The evil cabal are against the constitution of The USA. They are using financial weapons to destroy it amongst other strategies at their disposal. The Fed', the central banks of the world, IMF, World Bank etc are out for one thing... to destroy the only constitution that can put the world back on its feet honestly and legally under law. There is no other human invention that can do it... most other countries are parliamentary in nature but in the US it is written only the government can issue $

[cv1122]

small biz has been taking the hit for about a year now...cap n trade will wipe out the rest.

[crabbydogtrix]

I agree,however i think an all out assault on private buisness is the next shoe to drop. You're right cap and the med laws will end small buisness . thanks V

[CMLovejoy]

Bailouts aren't such a bad thing.

However the bailouts so far have been poorly managed.

I would like to see a bailout that actually creates jobs for people, instead of dumping money into failed banks and states.

[crabbydogtrix]

if we have to shovel future tax money into bailouts then i agree. thanks cmlj

[centervilletn]

excellent vid. great analysis. keep up the great work

[valhala56]

economics lends itself easily to anolgies to try to picture in one's mind the bigger picture.

The economy in my mind is like a very large jumbo jet in a stall, once the stall attains a terminal velocity the next anology is a death spiral.

If it was a Jet Fighter instead this would be the time the pilot would "punch out" and take his or her chances outside the economy. That I suppose is what people talk about when they say get your guns, ammo, food-the survival stuff one hears.

[Longeazy]

So just pick up a `news` paper, turn on the prime time news, and wherever you see so called `leaders of nations` justifying wars of aggression, mass slaughter, lies, deception, vice, atrocity, perversion, along with bare faced lies about overpopulation, climate change and a multitude of measures all designed to take away ever more your personal liberty, all justified on the baseless grounds of National and or Global Security; That's them! The ruling evil elite cabal

[1mealperday]

hi Charlie, its as if they want the country to fail, now they are still removing competition

[Soupdragoon]

Have you ever been sound asleep dreaming about sugar plumbs just to be jolted out of bed by a smoke alarm and see that your entire house is engulfed in flames? That's pretty much the kind of thing that is going to happen to most people over the next few months.

[Totothemonkey]

Thanks Charlie, always a good insight video!

[crabbydogtrix]

thanks much

[SevereTstormFan]

Even though it does not take much to see the truths you speak of, I still look at you like a genius.

[crabbydogtrix]

too kind -thank you

[BabyHominid]

Obama will no doubt go down as the most unpopular pres ever. I guess he meant change speed when he was all about "change" back in '08. I'm a small business owner, and I'm not at all comfortable with this atmosphere right now. We left haves and have-nots way back there. That's so 2008. Now we have the gives and the give-nots.

[bufforilla]

Sooner or later everyone from Major Corporations to the grunt who puts his time in for a paycheck is going to have to learn that debt is a no win situation. The sooner we can come to that mentality the sooner we take the power away from the elites who think they can control us through money and a materialistic mentality. JMO

[greasemonger]

Haha. If you haven"t woke up already and begun to prepare you're screwed. A Mass Awakening = everone clamoring for resources. At least some got what they need while it was still cheap and the dollar was still worth a dime.

[poweroftheglory]

When the economy really starts to recover it will be slow. IMO, this huge increase in the Dow this week is more indicative of an instable market and not a recovering.

[Soupdragoon]

poweroftheglory

What is this "recovery" you speak of?

[solojam]

good job, you should do more videos about this topic

[crabbydogtrix]

THANK YOU

[GordonWalton]

Common sense as always from you Charlie, keep it up!

[crabbydogtrix]

thanks much GW

[meikagirl]

If this flu pandemic takes off=Goodbye Economy and Markets!

[crabbydogtrix]

good point

[poweroftheglory]

IMO, Cit group going under will mark the beginning of the commercial real estate collapse that Celente warned would begin last March.

[crabbydogtrix]

agreed

[phantomcharger]

first!

[crabbydogtrix]

you're fast