[ReverseEngineer]

$this->bbcode_second_pass_quote('Byron100', '
')The real SHTF is going to take place when the Chinese yank our line of credit and crashes the dollar. Anyone want to place bets as to when this might take place?

[Maddog78]

$this->bbcode_second_pass_quote('Jotapay', '')$this->bbcode_second_pass_quote('AAA', 'M')aybe but Glenn Beck is one of the best sources for doomsday scenarios in the msm. He is a doomer at heart.

[nobodypanic]

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('Byron100', '
')The real SHTF is going to take place when the Chinese yank our line of credit and crashes the dollar. Anyone want to place bets as to when this might take place?

[Cid_Yama]

Major Meltdown Imminent
$this->bbcode_second_pass_quote('', 'T')he nation’s largest banks are so close to collapse and the world economy is coming unglued so rapidly, a major Wall Street meltdown is now imminent. Specifically, it’s now increasingly likely that virtually all of our forecasts of recent months could come to pass in a very short period of time, including …

Stock market crash: A swift plunge in stocks to about 5000 on the Dow, 500 on the S&P 500 and 900 on the Nasdaq … or lower.

Corporate bankruptcies: A chain reaction of Chapter 11 filings or federal takeovers, including not only General Motors and Chrysler, but also Ann Taylor, Best Buy, Jet Blue, Macy’s, Saks Fifth Avenue, Sears, Toys “R” Us, U.S. Airways and even giants like Ford or General Electric.

Megabank failures: Bankruptcies or nationalization not only of Citigroup and Bank of America, but also JPMorgan Chase and HSBC.

Nationwide epidemic of small and medium-sized bank failures: Outright FDIC takeovers, with little prospect of nationalization.

Insurance failures: State takeovers of companies like Ambac Assurance, Bankers Life and Casualty, Conseco, FGIC, Medical Liability Mutual, Mortgage Guaranty Insurance, Nuclear Electric Insurance, PMI Mortgage, Standard Life of Indiana and many others.

Cities and states: An epidemic of defaults by thousands of cities, states and other issuers of tax-exempt municipal bonds.

Stock market shutdowns: Trading halts on major, big-cap stocks … plus on-again, off-again exchange shutdowns, making it increasingly difficult for investors to liquidate their holdings at any price.

Credit market deep freeze: A virtual shutdown in all debt markets except U.S. Treasuries. An avalanche of selling — and virtually no buyers — for corporate bonds, commercial paper, asset-backed securities, municipal bonds and all forms of bank loans.

Government bond collapse: A steep decline in the price of medium-and long-term government securities, as the U.S. Treasury bids aggressively for scarce funds to finance a ballooning budget deficit.

Shocking? Perhaps. Avoidable? No. Nor am I alone in anticipating this rapid unraveling of the economy and financial markets. This past Friday, at a Columbia University dinner, George Soros said the financial system has effectively disintegrated, with the turbulence more severe than during the Great Depression and with the decline comparable to the fall of the Soviet Union, while Paul Volcker said he could not remember any time, even in the Great Depression, when things went down so fast and quite so uniformly around the world. Both recognize that we’re in a new era of chaos.

[Pops]

Does no one have an opinion they can call their own aside from "Link"?

Think for yourselves!


Jeeze, at least RE put up a thought...

[ReverseEngineer]

$this->bbcode_second_pass_quote('Pops', 'D')oes no one have an opinion they can call their own aside from "Link"?

Think for yourselves!


Jeeze, at least RE put up a thought...

[Cid_Yama]

Jeeze, Pops, I express my opinion through the links I choose to link to.

Think my Musical Interlude pretty much says it all.

WE"RE GONNA GET BURNED! Ooooooo Burned, Burned, BURNED! Oooooooo BURNED, AHHHHHHHHHHHHH!

[AAA]

$this->bbcode_second_pass_quote('Pops', 'D')oes no one have an opinion they can call their own aside from "Link"?

Think for yourselves!


Jeeze, at least RE put up a thought...

[Cid_Yama]

Also, a song expresses a totality, a gestalt, that cannot be expressed in mere words. This particular song was quite fitting to the situation.

We're clinging to his charm and determined smile, but the good old days are gone.

[patience]

My opinion? Probably by early summer, the US govt will find it is unable to float enough Treasuries to finance their spending and interest on the debt. This will be due to lack of sufficient demand for T's at the offered interest rate (discount), forcing the Fed to buy up the leftovers with magical money out of thin air. This funny munny goes directly into the economy via govt spending, and major inflation/currency crash is next. If the govt raises the offered interest rate on T's, they a doubly screwed, since major amounts of the National Debt need to be "rolled over" (refinanced) this year from short term T's that are so popular now. By raising interest rates, they increase the amount they pay to float the Debt, making the situation worse. That's why they will be forced to "print", or create money to buy their own debt.

Other countries are in the same dilemna, so it will be a race down the toilet bowl. Nobody wants this to happen, so every goofball idea will be tried to stave it off, hence I could be wrong on the timing, But I am convinced of the thesis. The math is there to back it up.

There will be little warning, if any, due to the speed of transactions today. What used to takes days or weeks can now be done in milliseconds, so the dominoes will fall in a hurry. When you hear of "failed Treasury auctions, listen for the gurgling sound coming from D.C.. That will be the govt choking on the deficit. Very quickly, your credit card won't work, your bank account will be frozen, and what money you have had best be spent on useful items very fast, while it is still worth something, particularly with regard to imports. Like oil and oil products, coffee, China Mart stuff, shoes and clothing made in Malaysia, etc.. Those prices will occur relative to currency exchannge rates, varying with the ability of each country to devalue their money faster than another one.

Get prepped, and keep your head down.

THERE! That ought to qualify for one of "Ludi's Preposterous Predictions"!

[Ludi]

$this->bbcode_second_pass_quote('patience', '
')
THERE! That ought to qualify for one of "Ludi's Preposterous Predictions"!

[patience]

Lost another long one. Cleared cookies and will try again.

Ludi--I left myself an out with the 2nd paragraph!

Kunstler is predicting trouble with agriculture, due to lack of financing soon. I see this locally.

[RedStateGreen]

$this->bbcode_second_pass_quote('Cid_Yama', 'A')lso, a song expresses a totality, a gestalt, that cannot be expressed in mere words. This particular song was quite fitting to the situation.

We're clinging to his charm and determined smile, but the good old days are gone.

[Cid_Yama]

$this->bbcode_second_pass_quote('', 'L')ost another long one. Cleared cookies and will try again.

[shortonoil]

$this->bbcode_second_pass_quote('', ' ') The last desperate act of the banking system in the face of Peak Oil's no-more-growth equation was to engineer species of tradable securities that could produce wealth out of thin air rather than productive activity. This was the alphabet soup of algorithm-derived frauds with vague and confounding names such as credit default swaps (CDSs), collateralized debt obligations (CDOs), structured investment vehicles (SIVs), and, of course, the basic filler, mortgage backed securities. The banking system is now choking to death on these delicacies.

[SeaGypsy]

I like a lot of the educated guesswork here.

How about these 3?

The mobile phone network goes down.
(with satellite phones)

Internet likewise.

Then while we are freaking out.

We hear rumor that the banking system has collapsed.

We know something is very wrong because we are hungry& there are thousands of people waiting at the auto teller& starting to smash& grab.

[shortonoil]

$this->bbcode_second_pass_quote('', 'I') like a lot of the educated guesswork here.

How about these 3?

The mobile phone network goes down.
(with satellite phones)

Internet likewise.

Then while we are freaking out.

We hear rumor that the banking system has collapsed.

We know something is very wrong because we are hungry& there are thousands of people waiting at the auto teller& starting to smash& grab.

[vision-master]

$this->bbcode_second_pass_quote('shortonoil', '')$this->bbcode_second_pass_quote('', 'I') like a lot of the educated guesswork here.

How about these 3?

The mobile phone network goes down.
(with satellite phones)

Internet likewise.

Then while we are freaking out.

We hear rumor that the banking system has collapsed.

We know something is very wrong because we are hungry& there are thousands of people waiting at the auto teller& starting to smash& grab.

[Pops]

$this->bbcode_second_pass_quote('AAA', '')$this->bbcode_second_pass_quote('Pops', 'M')any people here require a link as proof and if it doesn't have a link then it didn't happen.

I have seen the words "Link Please" requesting some type of proof about a hundred times in various posts.

[ReverseEngineer]

$this->bbcode_second_pass_quote('SeaGypsy', 'I') like a lot of the educated guesswork here.

How about these 3?

The mobile phone network goes down.
(with satellite phones)

Internet likewise.

Then while we are freaking out.

We hear rumor that the banking system has collapsed.

We know something is very wrong because we are hungry& there are thousands of people waiting at the auto teller& starting to smash& grab.