[funzone36]

$1 trillion is actually just an optimistic forecast. Who knows how big this "2nd Great Depression" will look like.

[Valdemar]

Over $500 trillion in potentially bad derivatives. One trillion dollars is merely the US' housing exposure. We're not counting anything beyond that.

[Rabbit]

Ok this marks the second time the US has started a "Great Depression". Why are we always the one that starts this kind of thing?

[roccman]

$this->bbcode_second_pass_quote('KevO', '
')And we always thought that peak oil would have been the end of it all.

[sicophiliac]

Nah PO will be the icing on the cake, the housing/credit problems alone are enough to tip us into a recession and maybe a depression. Now peak oil on top of that combined with the feds rampant devaluing of the dollar combined will set us up for at the very least, severe inflation then later a severe depression and possibly the eventual collapse of the union as we know it today.

[Micki]

This is still a long way away from any MadMax.
Fed Reserve and Treasury will cook up a lot of things before there is even a collapse of the financial system.
For a long time I have been expecting hyper stagflation but I have to say inflation would probably been nicer as it keeps more people in work and gives impression of things still working. I think stagflation will suck big time as it combines the worst of high unemployment, low pay, hight prices etc.

To go from there to MadMax, you would require several things to happen;
1) financial systems collapsing
2) government more or less losing or giving up control of crime etc.
3) no invasion by foreign forces(i.e. they are in same strife)

These are more likely trigger points for usherig in the NWO.
i.e. let things spiral out of control in the US, send in the UN troops, NATO forces and private mercenaries and let FEMA take control.
Who is going to protest? Most people just wouldn't as they would welcome order. There are more then enough camps to house those who dare to voice against.

Based on audio recording I heard with Jim Sinclair (who I just recently learnt was a precious metals advisor to Volcker) he mentioned that the Rotschilds were on the other side of Barricks large gold hedge positions al the way since mid-90's.
If this is true, it means they have been surperring price whilst buying up big time on the discount.

[Armageddon]

It is not a coincidence that a financial collapse and PO are happening at the same time. It is also not a coincidence that the US is in Iraq at this same time. Many people predicted a US invasion of Iraq prior to 911. 911 was just the "pearl Harbor" type of event that was needed for justification.

[Micki]

Absolutely correct.
TPTB aren't stupid. They have been planning for a long time.
The question is if the russsians, asians and arabs are going to ruin their plans or not or just run along.
For most of these nations dictatorial governments would be nothing new and some of the richer nations may even welcome the emergence of a new low cost working class.
The end result will no doubt be the fall from grace into banana republic state for several western nations.

This re-awoke my thinking that nations that play smart, at some point can/will strengthen their currenies and import oil cheaply compared to say US. The impact will through this hit some developed nations harder than others. As overall oil consumption could fall (especially if you get a large consumer like US to go on it's knee's) this would allow strong currencies uninterrupted or even increased import (for time being.)

[Gandalf_the_White]

It seems like we say this every year, but this summer looks set to be pretty bad for the US. I'm still hoping someone in politics will get honest and start telling us how desparately we need to get off oil. Oh, wait GW already did that and we cocked our heads sideways and went 'Ha. U R statin' to soun' like that peanut farmer. Whar is Ronnie Reagan?'

[Gandalf_the_White]

$this->bbcode_second_pass_quote('Rabbit', 'O')k this marks the second time the US has started a "Great Depression". Why are we always the one that starts this kind of thing?

[ColossalContrarian]

$this->bbcode_second_pass_quote('Micki', 'A')bsolutely correct.
TPTB aren't stupid. They have been planning for a long time.

[Armageddon]

$this->bbcode_second_pass_quote('ColossalContrarian', '')$this->bbcode_second_pass_quote('Micki', 'A')bsolutely correct.
TPTB aren't stupid. They have been planning for a long time.

[Micki]

$this->bbcode_second_pass_quote('', 'A')lthough to be fair I do know of some who are willing to lead the charge against Sauron, and I am proud even to have heard their names.

[Gandalf_the_White]

$this->bbcode_second_pass_quote('Micki', '')$this->bbcode_second_pass_quote('', 'A')lthough to be fair I do know of some who are willing to lead the charge against Sauron, and I am proud even to have heard their names.

[Micki]

I am testing the interest for a grass-roots movement here;
Grassroots action for spreading information

Let's see if we can whip up some interest and idea sharing.

[manu]

Wow, the IMF jumps on the bandwagon! Ha ha ha. Now everyone's on it except GWB. The Prez still thinks his approval rating is high (13%), we are winning the war in Iraq, and the economy is still in good shape. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha. Just a thought but maybe he should check into rehab.

[TheDude]

$this->bbcode_second_pass_quote('manu', 'T')he Prez still thinks his approval rating is high (13%)

[Micki]

From The Age (Australia)

$this->bbcode_second_pass_quote('', '[')b]IMF finally knocks on Uncle Sam's door

[Cashmere]

I wonder how long before the U.S. is taking 25% loans from the IMF.

Poetic justice in that.

[errorist]

Read: Federal Reserve uses IMF to rise confidence.