[Concerned1]

Sounds like we really are in trouble...


Failure to save East Europe will lead to worldwide meltdown
The unfolding debt drama in Russia, Ukraine, and the EU states of Eastern Europe has reached acute danger point

http://www.telegraph.co.uk/finance/comm ... tdown.html

[ReverseEngineer]

I read this article earlier in the day. The exposure the EU Banks have to bad debt in the old Soviet States is HUGE, bigger than the sub-prime fiasco. You can think of loaning money to all those old Soviet States like loaning money to a house buyer with no credit rating, except on a much larger scale. Money was loaned to these countries, they can't pay it back. So what to do now? How do you Foreclose on a COUNTRY? If the EU Banks have to write down all the bad loans to the old Soviet client states, their balance sheets will be toilet paper and the Euro as worthless as the Dollar. The reason the Dollar isn't depreciating against other currencies is that they are all being turned WORTHLESS at the same time!

Count Down to Armageddon folks! Something's gotta give here pretty soon.

Reverse Engineer

[perdition79]

$this->bbcode_second_pass_quote('ReverseEngineer', 'I') read this article earlier in the day. The exposure the EU Banks have to bad debt in the old Soviet States is HUGE, bigger than the sub-prime fiasco. You can think of loaning money to all those old Soviet States like loaning money to a house buyer with no credit rating, except on a much larger scale. Money was loaned to these countries, they can't pay it back. So what to do now? How do you Foreclose on a COUNTRY? If the EU Banks have to write down all the bad loans to the old Soviet client states, their balance sheets will be toilet paper and the Euro as worthless as the Dollar. The reason the Dollar isn't depreciating against other currencies is that they are all being turned WORTHLESS at the same time!

Count Down to Armageddon folks! Something's gotta give here pretty soon.

[joewp]

$this->bbcode_second_pass_quote('ReverseEngineer', 'I') read this article earlier in the day. The exposure the EU Banks have to bad debt in the old Soviet States is HUGE, bigger than the sub-prime fiasco. You can think of loaning money to all those old Soviet States like loaning money to a house buyer with no credit rating, except on a much larger scale. Money was loaned to these countries, they can't pay it back. So what to do now? How do you Foreclose on a COUNTRY? If the EU Banks have to write down all the bad loans to the old Soviet client states, their balance sheets will be toilet paper and the Euro as worthless as the Dollar. The reason the Dollar isn't depreciating against other currencies is that they are all being turned WORTHLESS at the same time!

Count Down to Armageddon folks! Something's gotta give here pretty soon.

Reverse Engineer

[ReverseEngineer]

$this->bbcode_second_pass_quote('joewp', '
')
Perhaps that game is coming to an end soon, then it's called "indentured servitude".

[RonMN]

Here's a somewhat disturbing article from JS Mineset.

Quote:
This communication is to inform you as of 2/13/09, "It is totally out of control." There is no longer any means of reversal of the beginning of the final phase of the downward spiral now solidly set in motion.
For your sake, protect yourselves immediately.
Be prepared for disruptions in distribution common to hyperinflation.
1. You should have already distanced yourself from your financial agents. If you haven’t you are headed for significant displeasure and strain.
2. Make sure you stay three months ahead on necessary items that could experience distribution delays such as prescribed medicine and preferred foods.
3. Even though real estate is far from a buy, if you can afford a second home outside of major cities it would serve a good purpose.
4. Own gold.

http://jsmineset.com/index.php/2009/02/15/officially-out-of-control/

[dorlomin]

Does anyone know if this lot is in Roubinis $3.7 trillion in total that he has been giving as a figure for total world losses? 10% of $1.7 trillion would only make a fraction of that.


Man have we screwed up in spectacular fashion. At times I get awed by what we have managed to do to the global economy.

[ReverseEngineer]

$this->bbcode_second_pass_quote('dorlomin', 'D')oes anyone know if this lot is in Roubinis $3.7 trillion in total that he has been giving as a figure for total world losses? 10% of $1.7 trillion would only make a fraction of that.

[dorlomin]

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('dorlomin', 'D')oes anyone know if this lot is in Roubinis $3.7 trillion in total that he has been giving as a figure for total world losses? 10% of $1.7 trillion would only make a fraction of that.

[shortonoil]

dorlomin said:

$this->bbcode_second_pass_quote('', 'W')hich of course brings the inevitable question up, who extended all this credit to all these debtor nations? Far as I can tell, the only creditor nations here are the Chinese, the Japanese and the Saudis.