We are within 100 days of financial doomsday

[HeXploiT]

Anyone buying into the suckers rally?
Dumping your gold & silver?

The smaller banks will soon begin to fall like dominoes. All those banks that are two small to be protected by the net of the federal government.
It is likely that some of you will soon be needing this website.

I think that we are on the brink and the hundreds of billions of dollars being infused into the system is but a temporary fix.

I believe that many of you who are very comfortable will lose much of what you have.
Everything, and i mean everything, aside from commodities and gold & silver, is going to lose.

Will America and the world wake up to the shortcomings of a private central bank and the unrestrained issuance of money? Is the rest of the world going to continue to have blind faith in the dollar?
I tell you this minute that the shock & awe that Americans underwent on 9/11 is nothing compared to what they will feel when their wealth is gone or severely diminished.

It's almost time folks. Better empty those banks accounts and do something wise with that money while it still has value.

After the crash really kicks in president Barack Obama will usher in groundbreaking new reforms to give the central bank sweeping new powers to "fix" the economy.
Millions more will lose their homes and unemployment will soar.
Doesn't really sound plausible does it?
That's because as Americans we believe we are apart from history.
We are not exempt but are a part of an ongoing history.
I believe we are very close to an economic disaster.
Within a few months.

A little history.

The Money Masters.

This thread has been subverted from its original topic. The OP may repost this thread if he wishes. Locked pending moderator review.
-Schadenfroh (AT Mod)

 

[jackace]

Not sure about the doomsday you are talking about but even the financial analysts on TV and on the net are saying we have not hit the bottom and now is a good time to get out of higher risk stocks. Just saw the nightly business report on PBS and they said this very thing. The analyst thinks we won't see a bottom to this market till October.

 

[dahunan]

Originally posted by: jackace
Not sure about the doomsday you are talking about but even the financial analysts on TV and on the net are saying we have not hit the bottom and now is a good time to get out of higher risk stocks. Just saw the nightly business report on PBS and they said this very thing. The analyst thinks we won't see a bottom to this market till October.

approx 100 days

 

[First]

It's going to be funny bumping this thread when the economy not only recovers, but begins to boom starting sometime in 2009. Seriously, laymen economists are annoying.

 

[Whoozyerdaddy]

Originally posted by: Evan Lieb
It's going to be funny bumping this thread when the economy not only recovers, but begins to boom starting sometime in 2009. Seriously, laymen economists are annoying.

THE SKY IS FALLING TEH SKY IS FALLING!!11one!!

I don't know about a boom in 2009 but I agree with Evan that this doom and gloom talk is silly. I equate that talk to the idiots who think that the US will be a third world country in... ever.

And to those "third worlders"... Yes Rome fell. But is Italy a third world country? Has it ever been?

 

[Siddhartha]

OP,
How do you define "financial doomsday"?

 

[soccerballtux]

Originally posted by: Whoozyerdaddy

Originally posted by: Evan Lieb
It's going to be funny bumping this thread when the economy not only recovers, but begins to boom starting sometime in 2009. Seriously, laymen economists are annoying.

THE SKY IS FALLING TEH SKY IS FALLING!!11one!!

I don't know about a boom in 2009 but I agree with Evan that this doom and gloom talk is silly. I equate that talk to the idiots who think that the US will be a third world country in... ever.

And to those "third worlders"... Yes Rome fell. But is Italy a third world country? Has it ever been?

You guys are missing the point. OP doesn't sincerely believe this. OP thinks quite the opposite, more in line with what you're saying, that the economy is going to be improving, and he is looking to dump his gold.

It is common practice for investors to spend time frequenting boards pumping (or doing the reverse) of a stock, in hopes that the readers will follow suit. Statements like "This one's going through the roof! Hang on for a ride!!!" and others like "absolutely no hope, sell your home while you still can" ring as familiar pump-and-dump statements I've come across in my (short) years.


OP: We see through you. Do not want. Shoo.

edit: You know what I take it back, I misread OP. I think he's being genuine.

 

[spittledip]

Originally posted by: Whoozyerdaddy

And to those "third worlders"... Yes Rome fell. But is Italy a third world country? Has it ever been?

Whether or not it has been a 3rd world country is not really a good question as "3rd world" doesn't seem to have a solid definition. However, from the mid 1800s to the early 1900s millions of Italians left Italy due to poverty and lack of means to generate income. There are other reasons, but the primary reason for the Italian diaspora was poverty.
http://en.wikipedia.org/wiki/Italian_diaspora
http://www.nationmaster.com/en...opedia/Italo_Brazilian

Why do people think it is impossible for America to experience another Great Depression?

 

[LegendKiller]

I am definitely going to be bumping this in 100 days just to laugh at another RPB making a fool of himself (gotta link that youtube video again!). How do you know it's not 101 days? 102?

Are you becoming nothing more than Dave 2.0?

 

[Mardeth]

Can I quote you on that?

 

[StageLeft]

Originally posted by: Whoozyerdaddy
But is Italy a third world country? Has it ever been?

Not yet. Honestly, though, do you realize what a fvcking mess Italy is in these days? It's rife with corruption and the economy is a mess as is the political system in various areas. Have you heard of the garbage problems they're having? If this was the US, at least now, the government wouldn't allow this. Italy is becoming a bit of a hole.

The thing is, we're not saying laymen ecconomists are touting the end of the world, some real ones are, too. Only time will tell who was right.

 

[dmcowen674]

Originally posted by: LegendKiller
I am definitely going to be bumping this in 100 days just to laugh at another RPB making a fool of himself (gotta link that youtube video again!). How do you know it's not 101 days? 102?

Are you becoming nothing more than Dave 2.0?

How many failed banks can the country take?

7-24-2008 Rising costs of financial turmoil

Accountants for Congress this week put a $25 billion price tag on the federal rescue of two companies that anchor US mortgage markets, but that's just the tip of a potential iceberg of taxpayer costs for America's banking mess.

The reality is that taxpayers could end up paying nothing at all for rescuing the financial system ? or the cost could end up as much as 10 times that $25 billion guesstimate.

"The credibility of the sovereign is now at risk," Mr. Morici says.

"It is no accident that we're starting to see articles about the credit rating of the United States."

So far, the Treasury's Federal Deposit Insurance Corp. is sitting on $52 billion ? insurance premiums paid, in effect, by bank depositors ? that's ready to resolve bank failures. The recent collapse of the bank IndyMac may drain about $6 billion from that fund, the FDIC estimates.

The agency has a list of other banks on its watch list, some of which will probably require similar intervention. Its insurance fund may or may not cover the final tab.

"The question is, how many big banks are going to fail," Morici says.

About two decades ago, a wave of savings-and-loan failures ended up costing taxpayers about $125 billion.

 

[shiner]

Originally posted by: dmcowen674

Originally posted by: LegendKiller
I am definitely going to be bumping this in 100 days just to laugh at another RPB making a fool of himself (gotta link that youtube video again!). How do you know it's not 101 days? 102?

Are you becoming nothing more than Dave 2.0?

How many failed banks can the country take?

7-24-2008 Rising costs of financial turmoil

Accountants for Congress this week put a $25 billion price tag on the federal rescue of two companies that anchor US mortgage markets, but that's just the tip of a potential iceberg of taxpayer costs for America's banking mess.

The reality is that taxpayers could end up paying nothing at all for rescuing the financial system ? or the cost could end up as much as 10 times that $25 billion guesstimate.

"The credibility of the sovereign is now at risk," Mr. Morici says.

"It is no accident that we're starting to see articles about the credit rating of the United States."

So far, the Treasury's Federal Deposit Insurance Corp. is sitting on $52 billion ? insurance premiums paid, in effect, by bank depositors ? that's ready to resolve bank failures. The recent collapse of the bank IndyMac may drain about $6 billion from that fund, the FDIC estimates.

The agency has a list of other banks on its watch list, some of which will probably require similar intervention. Its insurance fund may or may not cover the final tab.

"The question is, how many big banks are going to fail," Morici says.

About two decades ago, a wave of savings-and-loan failures ended up costing taxpayers about $125 billion.

You forgot:

Soup lines! Soup lines! Soup lines! Soup lines! Someone kidnapped the Lindbergh baby! Soup lines! Soup lines! Soup lines! Soup lines! Soup lines! Soup lines! Soup lines! Soup lines!

 

[Thump553]

Please let me know the date for this doomsday so I can mark my calendar.

A decade ago, during the S&L crisis, we had several THOUSAND S&Ls and banks fail, including what was the most prominent bank in my state. The failure projections I've heard are 45-90 banks this year. Admittedly the banks are, on the average, larger, but the Chicken Little warning is not justified.

 

[StageLeft]

Moody's, one of the large country credit rating groups (from what I understand) indicated that the US was edging closer to a drop in its credit rating months ago, which was before the onslaught of bank failures and continued weakening of the dollar. There is a very real risk that it will drop a notch in its rating which will mean borrowed money is harder to come by and/or will cost us even more in the long term, rather like a snowball and there is no end in sight to the US' borrowing, is there?

 

[glugglug]

Originally posted by: Thump553
Please let me know the date for this doomsday so I can mark my calendar.

A decade ago, during the S&L crisis, we had several THOUSAND S&Ls and banks fail, including what was the most prominent bank in my state. The failure projections I've heard are 45-90 banks this year. Admittedly the banks are, on the average, larger, but the Chicken Little warning is not justified.

Only 45-90? Really?
Implode-o-meter <- site tracking all the bank implosions, new bad news pretty much every day.

 

[Atreus21]

Originally posted by: Perry404
Anyone buying into the suckers rally?
Dumping your gold & silver?

The smaller banks will soon begin to fall like dominoes. All those banks that are two small to be protected by the net of the federal government.
It is likely that some of you will soon be needing this website.

I think that we are on the brink and the hundreds of billions of dollars being infused into the system is but a temporary fix.

I believe that many of you who are very comfortable will lose much of what you have.
Everything, and i mean everything, aside from commodities and gold & silver, is going to lose.

Will America and the world wake up to the shortcomings of a private central bank and the unrestrained issuance of money? Is the rest of the world going to continue to have blind faith in the dollar?
I tell you this minute that the shock & awe that Americans underwent on 9/11 is nothing compared to what they will feel when their wealth is gone or severely diminished.

It's almost time folks. Better empty those banks accounts and do something wise with that money while it still has value.

After the crash really kicks in president Barack Obama will usher in groundbreaking new reforms to give the central bank sweeping new powers to "fix" the economy.
Millions more will lose their homes and unemployment will soar.
Doesn't really sound plausible does it?
That's because as Americans we believe we are apart from history.
We are not exempt but are a part of an ongoing history.
I believe we are very close to an economic disaster.
Within a few months.

A little history.

The Money Masters.

Dude, do you have any idea what you're talking about?

 

[dmcowen674]

Originally posted by: glugglug

Originally posted by: Thump553
Please let me know the date for this doomsday so I can mark my calendar.

A decade ago, during the S&L crisis, we had several THOUSAND S&Ls and banks fail, including what was the most prominent bank in my state. The failure projections I've heard are 45-90 banks this year. Admittedly the banks are, on the average, larger, but the Chicken Little warning is not justified.

Only 45-90? Really?
Implode-o-meter <- site tracking all the bank implosions, new bad news pretty much every day.

Wow

These guys have done quite a job documenting all types of failures (they call implosions)

Bank failures
http://bankimplode.com/

Industry failures
http://implode-explode.com/

Mortgage Lender Failures
http://ml-implode.com/

Hedge Fund Failures
http://hf-implode.com/

Home Builder Failures
http://builder-implode.com/


I particularly love how so many elitists blame the people but never the Corporations or Banks:

Coast Bank - 12-3-2007

The bank got itself into trouble on pre-construction loans connected to a builder called CCI. When that builder went bust, the loans went bad. Bank borrowers and shareholders were not happy (from August 2007) :

At least 113 - and counting.

That?s how many lawsuits have been filed through Friday against Coast Bank of Florida and its parent, Coast Financial

?

At least 109 have been filed in Charlotte, Highlands and Sarasota counties since June 14. The suits are by investors who used Coast Bank to finance the construction of new houses by Construction Compliance Inc. The St. Petersburg builder was unable to finish most of the houses and later filed for bankruptcy, leaving the bank potentially on the hook for $110 million in loans committed to 482 borrowers.

?The suits claim the bank committed fraud and breached its fiduciary duty by allowing the homes to be sold to investors with no money down in return for promised profits once the homes were sold. The suits seek to have the investors? mortgages rescinded and forgiven by Coast Bank, which the bank is unwilling to do.

By late spring, the FDIC had set up camp at the bank and started ?regulating?, including issuing a cease-and-desist, firing the CEO, and setting up new oversight:

They broke their vow of silence dramatically Friday by forcing the resignation of president Brian F. Grimes and accusing the Bradenton bank of ?unsafe and unsound banking practices and violations of law and regulations.?

 

[DomS]

Originally posted by: LegendKiller
I am definitely going to be bumping this in 100 days just to laugh at another RPB making a fool of himself (gotta link that youtube video again!). How do you know it's not 101 days? 102?

Are you becoming nothing more than Dave 2.0?

but what if you CAN'T bump it because FINANCIAL DOOOOOMSDAY 2K8: THE REVENGE happened??

 

[yllus]

I really wonder how some people manage their personal finances in the real world when they exhibit such a poor grasp of reality online.

 

[DomS]

Originally posted by: glugglug

Originally posted by: Thump553
Please let me know the date for this doomsday so I can mark my calendar.

A decade ago, during the S&L crisis, we had several THOUSAND S&Ls and banks fail, including what was the most prominent bank in my state. The failure projections I've heard are 45-90 banks this year. Admittedly the banks are, on the average, larger, but the Chicken Little warning is not justified.

Only 45-90? Really?
Implode-o-meter <- site tracking all the bank implosions, new bad news pretty much every day.

aaaaaarg how do you get anything out of that site? It's giving me a headache.

 

[nageov3t]

is this like "The Ring"?

 

[HeXploiT]

Originally posted by: Siddhartha
OP,
How do you define "financial doomsday"?

Obviously I'm being somewhat melodramatic so don't take the 100 days too literally but I sincerely believe the dollar will be searching for its new bottom. It will trend downward proportionately to golds rise. I expect a trigger that will send the market tumbling steeply for a few days that will be an uppercut to the system.
Possibly another million foreclosures in the next two quarters.
Mind you that this will come hand in hand with inflation and increasing unemployment. All these things combined will create a gloomy picture that will effect the entire world. When the dollar loses the world loses. This will likely be a global depression.

We are at the classical "bottom" where people finally begin to invest & "buy low". This is where the market is supposed to turn and trend upwards. It's a suckers rally.
Trouble is that the only money in the market is counterfeit cash that the fed has infused into the system. They are now creating the inflation at a disastrous rate at a time when there is less faith in the dollar. The Chinese and the world no longer want our debt.
I'm expecting the dow to sink below 10,000 within the next few months.

We just aren't as wealthy as some would like to believe.
For those of you just itching to look back in a 100 days and say "I told you so"...
I really couldn't care less so get a life.:laugh:
It's possible they can hold all this off another quarter or two but I highly doubt it.

 

[compuwiz1]

Originally posted by: Perry404It's almost time folks. Better empty those banks accounts and do something wise with that money while it still has value.

Sure, let's just empty those bank accounts and help create another great depression. Sounds like a good idea to me! :roll:

 

[HeXploiT]

Originally posted by: compuwiz1

Originally posted by: Perry404It's almost time folks. Better empty those banks accounts and do something wise with that money while it still has value.

Sure, let's just empty those bank accounts and help create another great depression. Sounds like a good idea to me! :roll:

How much money do you have in savings or checking accounts in America?

Only in a retarded system is one required to encourage people not to take their money from the banks.