Economic Collapse
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No way is this a bottom. It is only the calm before the storm. Most people are in economic denial. Perhaps because the economic downturn has been slow to happen over past several years, people don't realize the ship is sinking. Not sure why. But I also don't see it getting better before it gets worse.
3 years ago 4
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The FDIC might as well give all of their money to the fed since the fed can print money out of thin air. What's the point of the FDIC?
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Agreed.
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ordo ab chao: novus ordo seclorum..there was a run on northern rock here in england due to the subprime fiasco--the chancellor of the exchequer/treasury minister..bailed it out with tax payers moolah to the tune of £50,000,000,000
20 youtube 'leaders' have had the plug pulled on their accounts in one fell swoop...account holders of some note--there'll be no room for dissent under the 'new' freedom
planned food shortages are coming down the pike over on yr side AND ours before too long
3 years ago 2
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I think our markets are wierd!! I feel like I'm being lied to everyday I watch our stock market.
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People putting their money blindly into 401K retirement funds are helping to support the market. Without that and the government pouring huge amnts of money into the market to support it there would be total collapse. There can't be a run on the bank in modern times. The fed can always print more money out of thin air. It will just create hyperinflation and weaken our currency even further. The whole world is inflating their currencies...something has got to give.
rangeyer 3 years ago 4
Well put. Something is going to give, and that something is OIL.
yogiudo 3 years ago
Reminds me of that old Paul Simon song: "Slip slid'n away." The answer? I know the answer as does Wall St. & the Fed. Greenspan lowered the interest rate to 1% and let people finance loans up to 125% of a homes value. There were MILLIONS of "Liars Loans". No down payment, Adjustable Rate Mortgages (ARMs), etc. Mortgages were packaged into CDO's & sold. When FORECLOSURES began to happen 8/07, all this BAD DEBT on banks books came home to roost. You & I will bail out Fanny & Freddie to 5 TRILLION!
srichards01 3 years ago
We will try, but we will fail to make payments.
Then the T bills will disappear and the baby boomers will be broke.
Oh yeah and the stinking rich will only be smelling rich.
yogiudo 3 years ago