[TreebeardsUncle]

At this point it is still no big deal and business is pretty much proceeding as usual except for a few folks on Wall Street and scattered around. Did notice that a Chrysler dealership had closed on north Fulton Avenue in Sacramento when I was out to drop by Hertz and pick up my car at a body shop off of Tower Avenue near there.
Am seriously hoping that the depletion of the world's oil supplies will mean that most Americans will not have access to cars. I dislike suburbia. It is nearly entirely dependent on easy access to cars for most adults and to cheap readily available credit as well. Without cars and credit suburbia should greatly contract. I hope that will happen.

G

[gnm]

$this->bbcode_second_pass_quote('pedalling_faster', 'w')hat's an ELP ?

[DantesPeak]

Matt's orginal prediction may turn out to be right - if you are talking about general financial collapse.

By that I don't necessarily mean we will have a Black Friday where the market crashes 20 to 30%, but that in general, stocks have taken a huge hit and companies in general will have a difficult time selling stock or borrowing money.

They may have been able to postpone the financial crash until next year had it not been for the twin hurricanes of doom, which pushed refinery output down to the lowest level ever. Now with the real economy also taking a huge hit from transportation fuel shortages, there's nothing the government can do to pump the economy back up.

[TheDude]

GraphOilogy: The ELP Plan: Economize ; Localize & Produce

I'm going out on a limb and predict that things will be worse next year, barring of course the election of a suitable POTUS (have you picked up your ""Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn" bumper sticker yet?).

[VMarcHart]

$this->bbcode_second_pass_quote('DantesPeak', '.')..I don't necessarily mean we will have a Black Friday where the market crashes 20 to 30%...

[Revi]

Here's what Matt Simmons had to say in July:

The nub of his argument is that oil is still actually very cheap, and that the biggest danger the world faces at the moment is those people who argue that the current high prices are a blip, a bubble, a speculators spike. When asked for his scenario of the next year or two, he replied that the US would keep dropping its inventories (of oil) and feeling good about it, which would be followed by a shortage, which would, in turn, lead to “a run on the banks so fast your eyes would spin. This is when everyone tops up their tank. We haven’t run out of oil, but we could literally run out of usable diesel and gasoline and then we would have the Great American Disaster, because within a week we’d have run out of food”.

from Transition Culture

[Ferretlover]

$this->bbcode_second_pass_quote('Revi', 'H')ere's what Matt Simmons had to say in July: .. We haven’t run out of oil, but we could literally run out of usable diesel and gasoline and then we would have the Great American Disaster, because within a week we’d have run out of food”. from Transition Culture

[Revi]

This is what he said in July. The bank run hasn't happened yet either, unless you count WaMu. The food shortages could happen after diesel runs low. Anyone see any shortages happening yet? Britain ran low on a few things during the truckers strike.

[yesplease]

$this->bbcode_second_pass_quote('DantesPeak', 'M')att's orginal prediction may turn out to be right - if you are talking about general financial collapse.
By that I don't necessarily mean we will have a Black Friday where the market crashes 20 to 30%, but that in general, stocks have taken a huge hit and companies in general will have a difficult time selling stock or borrowing money.

[Narz]

I was looking forward to bumping this thread in December.

Enjoying your nasty freeze dried "food" there Matty?

[eXpat]

Let´s see what this crisis has toppled so far:
- Bear Stearns
- Lehman Brothers
- Fannie Mae
- Freddie Mac,
- Merrill Lynch
- AIG
- HBOS (Bank of Scotland and Halifax)
- WaMu
- Wachovia Corp (taked over by Citigroup Inc.).
- Fortis.
Just to name a few (i´m not considering little banks)
Two weeks ago:
- The US Treasury had to help with $40 billion to bolster the Fed’s dwindling reserves.
- On Wednesday (I think it was 17) the value of the Tbill fall below zero. and at one point Libor stopped.
- US$3.6 trillion in global stock market expent in that "crisis" week alone : link
And today:
$this->bbcode_second_pass_quote('', ' ')Sept. 29 (Bloomberg) -- Stocks around the world fell the most since October 1997, the euro and the pound sank and bonds rose as governments raced to prop up banks infected by growing U.S. mortgage losses.

The Standard & Poor's 500 Index fell 3.8 percent after Wachovia Corp. required a takeover by Citigroup Inc. and lawmakers predicted a close vote on the Bush administration's $700 billion bank bailout. The British pound dropped the most against the dollar in 15 years after European governments stepped in to save Bradford & Bingley Plc, Fortis and Hypo Real Estate Holding AG. Commodities fell. The cost of borrowing in euros for three months soared to a record as banks hoarded cash.

[yesplease]

$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[JJ]

anecdotal-local sawmill here in Burnet Texas shut doors at 4:00 pm Friday...said vendors were cancelling too many orders...52 unemployed

[eXpat]

$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[yesplease]

$this->bbcode_second_pass_quote('eXpat', '')$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[jupiters_release]

$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', '')$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[eXpat]

$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', '')$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[nobodypanic]

with the failure to pass the bailout bill, i think we now have probably less than 12-18 hours before TSHTF.

[StuckInPhilly]

$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.

[yesplease]

$this->bbcode_second_pass_quote('eXpat', '')$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', '')$this->bbcode_second_pass_quote('yesplease', '')$this->bbcode_second_pass_quote('eXpat', 'I') though they would be able to delay the crash, at least till after the US elections, but the system is going down and down. The mammoth has gained momentum and there´s no way to stop it.