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should never have stoppedI guess it's time to start smoking weed, again!
I guess it's time to start smoking weed, again!
should never have stoppedI guess it's time to start smoking weed, again!
yes! smoking weed is the only solution to this problem.
Instead of passing the bailout bill, they should pass a bill to make the whole country start smoking weed. Then, we'd be too lazy to protest or sell our stocks, and would consume more due to the 'munchies'.
Get ready to kiss everything you own except real assets goodbye.
NOTE: Elements within the U.S. Government have been threating web site
administrators all over the internet and forcing them to take down the
following article because it's exposes the Bush/Cheney cabal's
involvement in the coming economic collapse of 2008.
Everyone make copies of this article and send it everywhere so
everyone will be fully aware of how the economic collapse was
engineered to happen on purpose.
-----------------------
"Everybody knows that the dice are loaded. Everybody rolls with their
fingers crossed. Everybody knows the war is over. Everybody knows
the good guys lost. Everybody knows the fight was fixed. The poor
stay poor, the rich get rich. That's how it goes, Everybody knows" -
Leonard Cohen
PROTOCOLS FOR ECONOMIC COLLAPSE IN AMERICA
by
Al Martin
And this is how the U.S. Treasury would handle an economic collapse.
It's called the 6900 series of protocols. It would start with
declaring a force majeure, which would immediately be interpreted by
the marketplaces as a de facto repudiation of debt. Then the SEC and
the various regulatory exchanges would anticipate the market's
decline, hour by hour -- when Japan's markets opened the next day,
what would happen when the European markets, and all the inter-
linkages of the global markets. On the second day, US Special Forces
would be dropped in by parachute in the cities where the twelve
Federal Reserve district banks are located.
The origin of these protocols comes from the Department of Defense.
This is contingency planning for a variety of post-collapse scenarios.
Those scenarios would include, obviously, military collapse, World War
III, in other words, and its aftermath. What we're talking about now
is aftermath -- how the aftermath would be handled.
One does not necessarily know how the events would transpire that
would cause the collapse, whether it's military collapse or economic
collapse. In World War III, it would become obvious -- when the
mushroom cloud started to appear over cities.
Economic collapse scenarios were always premised on the basis of a US
declaration of force majeure on debt service. It's a very extensive
scenario. The scenarios are all together, i.e., military, economic,
political and social complete destabilization leading to collapse.
Then they break down individual scenarios. In the economic collapse
scenario, the starting point would be the United States Treasury
declaring a force majeure on debt service, which is de facto
repudiation, and that's how it would be interpreted by the world's
capital marketplaces. Then the scenario goes on from there. The US
Treasury would obviously declare a force majeure sometime after the
European markets had settled down. In other words, they had gone out
on the day, which means 11:38 a.m. EDT, our time. They'd wait until
the European markets closed, and the US markets had been open for a
couple of hours. That's when they'd determine how to begin the process
of unwinding or controlling the collapse to the best extent possible,
mainly because they know that the greatest hedge pressure would be
people seeking to use other markets to hedge their long exposure in
the United States and that the US would be the biggest seller in all
the rest of the world's markets. Therefore you would want to declare
the force majeure when the rest of the world's markets closed. The
declaration of force majeure would be precipitated by the declaration
that the United States is no longer able to service its debt. That's
pretty simple. Who makes that decision? The Treasury Department. The
President does not make that decision. The Secretary of the Treasury
does. He has that authority.
You might ask -- wouldn't he have his arm twisted not to do that?
The answer is that if there isn't any money left to service the debt,
it doesn't make any difference what the current regime might want to
do.
The day of reckoning is now coming. What has happened in the interim,
from 2001 to present, is dynamic, global economic deterioration. The
economic deterioration visited upon the United States by Bushonomics
is not a localized event. It is, in fact, global. We have a planet now
that is sinking into a sea of red ink.
The United States is consuming 80% of the planet's savings rate to
finance its debt. The central banks of Germany, Japan and Saudi Arabia
are no longer the powerhouses they used to be. Their reserves have now
been substantially depleted. They can, therefore, no longer hide the
fact that they own a certain number, likely in the trillions of
dollars, of U.S. Treasury debt that isn't being serviced, because they
can't hide it through bookkeeping tricks anymore because their
reserves are so depleted.
Therefore somebody has covertly been putting demands on the Bush-
Cheney regime for payment. Why do you think 2900 metric tons of gold
is depleted from U.S. inventory since March of `01?
Why do you think that $2 billion in currency seized from Iraq last May
is now unaccounted for?
Someone is putting demands on the Bush-Cheney regime. Someone is
saying to the Bushonian Cabal that -- You've got to start servicing
this debt because we, foreign central banks, are in nations - European
and Asian - whose reserves are now nearly exhausted.
Who could be putting that kind of pressure on them?
It has to be coming from whoever is organizing this thing at the very
top, which I would tend to think has got to be most likely a cabal of
people that would involve Henry Kissinger, James Baker, George
Schultz, possibly William Simon. It would be somebody at the very top
that is familiar with how to do this. It would have to be someone
familiar with finances.
So would this be one faction of a cabal blackmailing or forcing
another faction? No, it's not really blackmailing. It's being done out
of desperation. The German, Japanese and Saudi central banks are
saying to the Bushonian cabal, You've got to start servicing this debt
because we don't have the reserves to cover you anymore. We can no
longer make it appear that the debt is being serviced because our own
reserves are so substantively depleted. Therefore you must begin to
cover this debt. If you don't, then, at some point, we will have to
publicly admit in order to save our own necks -- that we were the end
buyers of a lot of stealth debt, a lot of debt that your Treasury
issued illegally and has never serviced. That would then expose the
whole cabal.
The Kissinger-Baker faction are at the top of how this was done on the
economic side of the equation. They were not the original insiders so
much, but the managers of the conspiracy from the U.S. Treasury, to
wit, the U.S. Treasury and Federal Reserve role-play the part.
Take Henry Kissinger. It may not have occurred to anyone why in the
last 3 years Henry Kissinger has been back in Washington more than he
has in the last 30 years. And why are all these quiet meetings in
Washington with alleged senior Bush-Cheney regime officials, as
foreign news services endlessly put it. It's because Kissinger is the
point man. He's the one that is telling them the disposition of other
foreign central banks.
Kissinger would probably also be involved in transfer or hypothecation
of any assets from the cabal. In other words, they're being stolen
from the American people by the Bush-Cheney regime and the Bushonian
Cabal, and they are being used to hypothecate, transfer, service, or
otherwise carry this debt held by certain foreign central banks.
The process of unraveling has already begun because of ever-spiraling
Bushonian budget deficits. The Bush-Cheney regime, even in its overt
policies (now they're overt political, economic, social and military
policies) is generating $600-billion-plus deficit per year, which is
consuming 80% of the planet's net savings rate.
It doesn't have the slack. In other words, it can't refinance stealth
debt by issuing more stealth debt anymore. Nor can they bleed money
out of the system like they could in the 1980s by hiding it when the
overt policies of the Bush-Cheney regime are already producing a
budget deficit of 6% of Gross Domestic Product. There is no other
mechanism that they could use anymore to hide expansion of debt that
could be used to service said stealth debt, and they are, frankly,
running out of assets that they can steal from the American people.
So the proverbial day of reckoning is coming. The Bush-Cheney regime
(and I give them credit for this) are telling the American people
what's coming, knowing the American people are too stupid to
understand. They are telling the American people about the re-
ins ution of the Gold Confiscation Act and the sudden scrapping of
the Treasury's emergency post-collapse gold note scheme to maintain
domestic liquidity.
David Walker, US Comptroller General and chief of the GAO has said
that should the Bush-Cheney regime be re-ensconced into power and,
hence, the scourge of Bushonomics persist, that the United States
could no longer service its debt beyond 2009. They're not hiding it
from anybody anymore. They are telling you what's happening. Now, what
does that mean? The key is in what Walker is saying when he says the
debt can no longer be serviced. I've been asked this on the radio
shows. People have noticed what Walker said because he's out in the
news more often than he used to be. It's unusual for the Comptroller
General of the United States, which is a rather arcane position, to be
out in the news so much.
It simply means that when he says the United States will no longer be
able to sustain Bushonian budget deficits, he means that by 2009, if
Bush-Cheney have a second term in office, the United States will be
consuming 100% of the planet's savings rate to finance Bushonian
budget deficits.
Therefore, if the planet can no longer generate any more liquidity to
lend to the United States, one of three things have to happen: A)
There has to be a sudden and dramatic reduction in federal spending.
There are only two places that can come from. There would have to be
an immediate $100-billion cut in defense spending, which would end any
hopes the Republicans had of getting into office for years to come
because it would destroy any confidence the NFWCs (Naïve Flag Waving
Crowd) had in them. Or you would have to scrap the multi-trillion-
dollar Bushonian tax cuts for the Republican rich, something that's
equally unpalatable.
The other option, B, as Paul O'Neill mentioned, is a dramatic increase
in the rate of federal income taxation from the current nominal rate
of 28% to 65%, which is what the Treasury Department estimated would
be required post-2009 to provide the U.S. Treasury with sufficient
revenues to continue to service debt.
The third option, or C, becomes the declaration of a force majeure on
credit service of U.S. Treasury debt by the United States Treasury,
which is tantamount and would be accurately construed as de facto debt
repudiation by the United States of America.
There are other signs to look for. They're not going to happen now,
but if Bush-Cheney is re-elected, you'll begin to see more signs that
the end is coming. I know a lot of people may disagree, but you wait
and see. If Bush-Cheney has a second term, see if they do not
ins ute some currency expatriation control. See if that doesn't come
in the way Nixon tried it in May-June of 1971.
In the second term, there will be some sort of currency expatriation
control in the United States, but there will also be loopholes that
will allow the large money to escape. The restrictions will apply to
the 10- and 20-thousand-dollar people. It ain't going to apply to the
10- and 20-million-dollar people. It would be self-defeating to do
that.
When that day comes, in other words, when the U.S. Treasury declares a
force majeure on debt, it wouldn't be broad-cast on mainstream media.
There's no sense because the American people don't even understand
what it means. But the announcement would actually be put on the
Federal Reserve wire system, which would, of course, immediately be
picked up by all media outlets anyway.
The U.S. Treasury would declare a force majeure on debt after the
Asian and European markets closed, probably at 12:30 p.m. EDT. The
reason why that hour was always selected is because Asian and European
markets close. It's also the lunch hour for the markets. It's when
you're going to have the fewest people on the floor of the exchanges.
That would be the ideal time to make such an announcement.
A few seconds after that announcement was made, all United States
markets, both equities debt and commodities i.e., stock, bonds,
commodities, that have trading collars or permissible daily limits
would all be limit-offered with pools. Limit-offered means that there
are more sellers at the limit i.e., limit down, than there are buyers.
So-called 'pools' would immediately begin to form, probably a thousand
contracts every few minutes. 'Limit-offered with pools' - this is
trader language. Pools to sell 2,000 lots, 3,000 lots. That means, the
number of sellers over and above the available buyers at the limit-
offered price. That would begin to build.
By 1:00, the news would begin to sink in because it would take awhile
before panic selling would arise from the public. This news is being
released at lunch hour.
A lot of the American people initially would not even understand the
temerity of the news. You would see professional selling first, and as
that professional selling intensified over the afternoon, the SEC, the
CFTC, NASDAQ, and various market regulatory authorities would begin to
ins ute certain emergency market protocols. This would be the
installation of the so-called 'declaration of fast market conditions,'
for instance; the declaration of 'no more stop orders,' the
declaration of 'fill at any price,' etc. in a desperate bid to
maintain liquidity.
That first day, the Dow Jones Industrial Average and related indices
on a percentage basis would lose about 20% of their value by the close
of business that day. The real impact would come overnight when the
American people found out what this was all about and when it was
explained to them.
At 7:30 a.m. EDT, the Tokyo markets would open, and no price would be
affixed for probably three or four hours into the session due to the
avalanche of selling. Once prices were established, the government of
Japan would close all of its financial markets. Europe would not even
open. All European governments would close all capital exchanges the
next day.
The United States would, in order to accommodate global electronic
trading, attempt to open the market on the second day, which they
would do, regardless of price, just to maintain some liquidity. At the
end of Day Two, the Dow Jones and related indices, would have lost two
thirds of their value, and prices would be set accordingly.
On Day Three, the New York Stock Exchange, the SEC and other related
agencies would recommend to the United States Treasury and the Federal
Reserve that all markets be closed. That would be on the morning of
Day Three. Eleven a.m., the Federal Reserve would then order all
domestic banks closed. All of the twelve Federal Reserve district
banks would (30 minutes later) have special U.S. forces parachuted in
and around them to secure whatever gold bullion reserves they had
left.
Day Three, 9:00 p.m., the President of the United States would declare
a state of martial law. All financial transactions would come to an
end. The Treasury would act to formally de-monetize the U.S. dollar
and declare it worthless.
This would be totally unprecedented. In the past, collapses have been
temporary and have been brought back up. But what we're talking about
now is the end.
These protocols that I'm referring to aren't even all that secret.
They were publicly available all through the Clinton era. These are
Treasury protocols that were ins uted mostly in the late 1970s when
the Treasury and Federal Reserve began to feel that it was important
to have an emergency-collapse protocol in place.
What precipitated the timing of this was the inflationary spiral of
the late 1970s. The U.S. Treasury and the Federal Reserve were both
concerned that this inflationary spiral, which was occurring not only
domestically but globally, might lead to a global, uncontrollable
hyper-inflation that the Federal Reserve or major central banks could
not stop by traditional means, i.e., by raising interest rates and
contracting money supply.
There was also the recognition, of course, that global central reserve
bank bullion inventories had been so depleted over the previous 30
years that any re-ins ution of a species currency, even on a
temporary basis, and even within a regional or individual nation-state
basis, was no longer possible.
This is an analogy. In a military scenario, it's like the President of
the United States pushing the final red button -- the commit button.
The Treasury Secretary of the United States has a similar mechanism.
It's called the yellow button, the commit button. The Secretary of
Defense has the same system. This is what happens. Computer program
starts to ins ute these protocols. Imagine the complexity of trying
the manage all this. I think it's going to happen all simultaneously.
There are hundreds of different agencies involved, both domestically
and internationally. In order to maintain liquidity for as long as
possible, it has to be extremely well-coordinated, and there must be
existing collapse protocols that can be used.
The reason I was familiar with them was because I used to see the U.S.
Treasury 6900 Series Collapse Protocol, 6903, 6904 there'll be A, B,
and so on which keyed in to the Department of Defense to be
incorporated within the Department of Defense's own World War III
scenario and various types of military/ political/ social instability/
war/ pestilence, chaos, etc. scenarios.
All federal agencies had individual collapse protocols that ultimately
got coordinated through the Department of Defense. Obviously, the
Department of Defense would be the ultimate coordinator because it
would need to have special forces available, on a stand-by basis,
ready, that could quickly parachute into areas all over the country,
into the cities particularly, to secure federal properties and assets.
And that's literally how it would begin. By the end of the third day,
it would be all over -- a state of martial law. We're not talking
about war, now; this is just economic collapse.
There's no military implication here, no political, no social
implication or policy directive thereunto. This is strictly economic
collapse. By the end of Day Three, effectively, all banks in the world
will be shut down, all paper currencies will become valueless. Martial
law would be declared. There would be no continuing transactions, at
least for a period of time, of commodities. All providers of fuels and
foods would be shut down automatically.
They have this in great detail too. U.S. Department of Defense Special
117th Assault Unit would parachute in to seize control of the cattle
yards in Oklahoma City. This is how well it's planned. In other words,
economic collapse would automatically involve expansive military
action and control.
By the end of the third day, when you no longer have a domestic medium
of exchange, you have to have secured food and fuel stocks. You've got
to have troops that have secured distribution points where there is
food and fuel stocks, warehouses, tanks, etc. Otherwise people are
just going to go get them, and the people have to know that if they
try to go break into that store and steal that loaf of bread, they're
going to be shot.
Protocols for environmental disasters are called 'scaling-circle
scenarios.' 'Scaling circles' is a Department of Defense euphemism.
It's also used in FEMA, OEM and other emergency management services.
In environmental catastrophes, which are going to become national or
global, it's got to start someplace. It's going to start in one very
small, specific area. Therefore what happens is that the immediate
force containment is the greatest in the first circle, to try to
contain the spread of the disaster and keep it within that circle.
The environmental problem, to whatever extent it's possible, before it
spreads, will be neutralized or mitigated, in order to keep that
catastrophe within that circle, or, if it is likely that it is to
escape that circle, to attack whatever it is in such a fashion as to
mitigate its strength and its ability to contaminate or otherwise
affect other areas.
In the case of earthquakes, for instance, affecting the west coast,
beginning at Mt. Rainier and moving southward -- that's a different
type of scenario. That does not include as much Department of Defense
involvement. It includes separate protocols, wherein mostly FEMA and
OEM act as the senior coordinating agencies between municipal, county
and state disaster and containment, which is called Disaster and
Containment Units. Federal troops would only be brought in for the
purposes of maintaining control.
In a military or economic collapse situation, National Guard units
would provide any spare help they could in combating whatever the
problem is. Federal troops would be used in order to have the specific
authority simply to shoot anyone. There are plans for all sorts of
scenarios. The economic-disaster scenario is the one I always found
the most intriguing because it is the one that is least understood by
the American people.
Military control would be necessary when lines begin to form at the
banks, people trying to access their money. But that wasn't even
anticipated as a big problem. Lines would form at the banks, but it
was not even envisioned until sometime on Day Three because the
American people wouldn't get it. It would be announced that the stock
markets are down 2000 or 3000 points, and since we've always been
taught they'll come back, the people would still be buying stocks.
You could count on everybody remaining in ignorance all the way down
because the American people have never been taught Economics 101. The
American people wouldn't realize the full extent of it until the
markets were closed on the third day, or until the time when they went
down to cash a check and the bank was closed with soldiers out in
front. Then they would go down and see the gas station's closed. They
see the local supermarket has been shuttered, and there's federal
troops in front of it. Then they might begin to catch on. And remember
-- it's not just federal troops. In emergency-collapse protocols, even
before the declaration of a formal state of emergency or a state of
martial law, the local military authorities within any given county or
jurisdiction have the ability to essentially militarize anyone, that
is, any civilian. This would be more than just deputizing civilians.
It's federal. In other words, they would have the ability to
militarize and give military authority to a civilian force. This would
include not only police and the sheriffs and state police, but all
local law enforcement that exists below the state level would be
immediately militarized. They wouldn't take just anybody like they did
in Iraq. It would be like the military when they call for volunteers.
Then they'd have everybody and their brother-in-law volunteering,
waving around the American flag and so on.
You've got a lot of pickup-driving guys in this country with the gun
racks in the back and the Confederate flag flying. So you start waving
the American flag in front of their face and say, Hey, you're going to
get your chance you always wanted -- to fit your potbelly inside an
army uniform and carry a gun and shoot people. How appealing would
that be?
And besides, if you do this, then you're going to get to eat.
In other words, this is how it would unfold over three days, but, in
fact, very few Americans would know what to do about it or how to take
any precautions. They wouldn't have a clue because they don't
understand enough about economics to know what is happening. So that's
what it is -- Economic Armageddon. If the Bush-Cheney regime is re-
installed into power, that is effectively what Comptroller General
David Walker is saying.
In conclusion, since there is very little the people of the United
States can do to protect themselves. We're not going to make any
suggestions of how to protect yourselves because there's very little
you can do.
We could tell you to go out and buy gold coins and bury them in the
coffee can in the back yard and go to your nearest survivalist store,
but, frankly, that's useless. In the last analysis, it's a lot of
hype. There is very little the average US citizen could do.
The only thing that can prevent this, as the Comptroller alluded to
when he was asked by Barbara Walters, How do we prevent reaching the
problem by 2009? He said simply, "A change of regimes."
So how do you prevent it? Don't vote for Bush and Cheney -- and hope
that Bush does not use his emergency powers to cancel or postpone the
election by edict, powers which you, the flag-waving citizens, have
given him.
All flag-waving citizens, be warned. If you want to vote for Bush-
Cheney again, make sure you got plenty of Spam on hand.
Here's an interesting and humorous aside. A couple of days ago, Hormel
Foods, which makes Spam, announced that in the last six months there
have been record sales of Spam in the United States the survivalists'
food of choice. After all, they pride themselves on the fact, as the
spokesman for Hormel said, "It is the only food product you can buy
with an expiration that's 50 years."
When everything goes to , when all that man has created has turned
to dust again, the final legacy is going to be Spam. It will be the
last surviving item -- when the anthropologists of 20 thousand years
from now are digging sites and they see these enormous mountains of
unopened cans of Spam They'll have monuments to the past out of Spam.
So if Bush-Cheney has a second term in office, there will be some sort
of currency restriction, like Nixon did in 1971. On April 13, 2004,
Deputy Assistant Treasury Secretary John Boine talked about potential
currency restrictions. He used the word that's going to fuel the
flames of the survivalist and gloom-and-doom collapse people.
It's very, very telling that the U.S. Treasury may ins ute a
restriction on the amount of U.S. dollars that can be converted into
gold.
Furthermore, he intimated (and I suspected that this was coming,
although this wouldn't actually become law until Bush-Cheney was in
office for second term one way or another) that the Bush-Cheney regime
determines that the Gold Confiscation Act gives to Treasury the power
for so-called forced disclosure of gold holdings.
I'm not quite sure of the language of the Gold Confiscation Act from
1933. It just says, "compelled", as in citizens are lawfully compelled
to redeem gold for script. I don't think there was any such provision,
which he was inferring that there is. That was FDR's "Raw Deal" of
1934, when people were coerced into giving up their gold. But nowhere
in this act does it specifically authorize the Treasury to mandate
citizens to report their gold holdings. So if this gets any press at
all, particularly within the circles of gold bugs and so on, watch
out.
Furthermore, on Washington Journal they were talking about how FEMA
has recommended to the Office of Homeland Security to have increased
restrictions regarding citizen hoarding of long-term food and fuel
supplies. That's pretty sinister too.
What they're talking about is the purchase of long-term so-called
stores of survival food. FEMA was talking about some sort of
restriction preventing people from ac ulating food stores; putting
it simply, that's what it means. The second point was to increase
restrictions that already exist.
FEMA was recommending even tighter restrictions on citizens building
their own private property underground storage tanks for the purposes
of long-term storage of fuel. The real intent of this is is threefold:
a) to restrict citizens' ability to hoard food; b) restrict citizens'
ability to hoard long-term storage of fuel; c) the forced
identification of citizens to reveal food and fuel stocks they may be
hoarding.
And that, in my opinion, is the real essence. The Bush-Cheney regime
was scared of having the FEMA angle put into the equation because they
knew what it means and how people would interpret it.
They have tried to use environmental legislation to restrict people's
ability to build fuel storage facilities on their own property -- to
get around what the true intent of that was.
But the bigger picture is that if you start to limit citizens' ability
to hoard fuel and food and shake them up by potential forced
identification of gold holdings or forced redemption.
In other words, what you don't want is citizens who have the ability
to store a lot of food and fuel and to own gold because they would be
able to resist state control in the future.
You've got to have every citizen on a rationing card to control the
civilian population. You can't have citizens out there hoarding food
and fuel because then people can say to government,"I ain't taking a
rationing card, baby, with my national ID card. I don't have to. You
can't control me through food and fuel and ever-worthless paper
currency."
I used to make fun of these people. But now, things have come full
circle on this debate. The Bush-Cheney regime is making it
increasingly clear through their small changes in policy. Not a lot of
people monitor these decisions, but I do. And the pattern is becoming
increasingly clear.
In fact, I would believe that those of the survivalist mentality (the
food, fuel, the gold coins in the coffee can in the back yard) people
who think that way will be ultimately vindicated - if George Bush has
a second term in office.
People should quit making fun of them because they would be vindicated
- even though they were all burned out, twenty-dollared to death,
buying books and tapes, and discredited by mainstream media. It may
sound like a hollow victory, but it won't be a hollow victory for them
- them that's got the Spam...
Alot of money could be made for the Goverment selling weed. Also DRILL you dumb mother ers!
By the way, Bush bought 100,000 acres of land in Paraguay in 2006. Now why would he do that? Hmmmmmmm
I'm not reading that tin foil bull
under that land: biggest water reserve in the world.
yeah..well everyone says Bush is stupid but...
Dow-Jones down 777.68 points at close today.
Go economy.
The best part in all of this is the people that think we'll see .99 a gallon of gas if the barrel drops to 25 bucks. Not only do you not want to see oil take that massive of a drop you'll never see the lower price with it.
Just because at some point in our life 25 a barrel equated to .99 a gallon doesn't mean it would again.
This guy would of known what to do...
B2B as always when it comes to money issues, is spot on.
And as always there you are sucking his ass. He is not spot on. Not by a long shot.
Yeah I'm always sucking his ass.
Grow the up. Hes spot 100% on.
The credit system, the pathetic bank managers, and the people that way overextended themselves are major ups right now.
In my opinion the jury is still out on that one. It really depends on how the bailout is written (and one WILL be written and passed)
They were clear in the original plan that the "bad assets" that the Fed was going to assume from the banks did not just include bad mortgages. Think about the hundreds of billions of dollars in credit card debt out there. If Joe Blow that has lived the irresponsible high life, has 6 credit cards limited out (but all the toys including the 60" flat screen, the newest greatest phone, i-pod, computer, etc.) tells his credit card company..."sorry dudes...but I can't pay you..." how serious do you think they will be about collecting on that debt if they can just pick up the phone and call the Feds and say "hey guys, I got another $60,000 in bad credit card debt I need to swap for 60K in cash"...
Joe Blow walks away free and clear and we just bought all his neat toys. Who's the dummy...us or him?
We are of course.
Cause the Government is getting involved in affairs it shouldn't be involved in.
AHF posted Ron Paul's speech on the floor today and it was spot on 100% fantastic.
Wish I had the link for that youtube cspan thingie.
WHAT ARE YOU GOING TO DO WHEN YOU CAN NOT MAKE PAYROLL TPARK?!?!?!?!
immigration problem solved
You gotta be kidding. Figure in a worst case scenario every economy in the world takes a 50% hit. 50% of USA economy is still 90% better than that hole that is Mexico once you get past the tourist hotspots.
No problem. He can put a slushie machine at the entrance to every carnival ride and sell slushies (free ride) and they can put it on their lone star cards...problem solved. TPark gets fat. (metaphorically speakingWHAT ARE YOU GOING TO DO WHEN YOU CAN NOT MAKE PAYROLL TPARK?!?!?!?!
)
, I hate spam.
Gee, what a ing financial wizard.
Lets take them one at a time.
Stocks down.
gee...recession anyone?
oil down.
uhhh...we have a global market melting down...might they be betting that demand will be down?
gold up.
duhhhh. Hard (non income producing) asset unless economy melts down. Gold is a worst case investment scenario.
dollar up.
duhhhh. All the smart money is running to short term Tbills which are dollar denominated.
Lots of bonds being purchased.
duhhhh. Smart money is parking cash. They have bid 3 month treasury bonds down to 0% yield.
analysis? The economy is ED short term and probably long term.
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