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Posts Tagged ‘crisis

And the future is now…

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Dent, Prechter and Others Warn that the Worst is Yet to Engulf Us

By Lorimer Wilson     Mar 17 2009

The above line (Dent, Prechter…) is the actual headline in Lorimer Wilson’s somewhat chilling article, posted on Kitco.com. This is a long and fairly technical piece, and I have taken the liberty of cutting and shortening it. Those readers who invest in stocks, shares, bonds, etc. at a certain serious material level might want to look at the original posting at http://www.kitco.com/ind/Wilson/mar172009.html

I don’t usually post articles focusing on financials at this kind of professional level, but this one scared me a little. But then I remembered that we are all part of an All-Knowing Universe, and that there is a reason for everything, even hubris. And, of course, never forget that as we spiral in towards 2012, we must expect nothing less than a huge manifestation of change at every level, and that has to include the physical-financial-material. And why have we believed the claptrap that our race is at some sort of pinnacle of evolution?

MOST INVESTORS don’t take seriously warnings about the future of the economy and the financial marketplace, but those who did avoided the dreaded “Cs” of finance: the Credit Crisis and Crash of ’08. What warnings are we talking about you might ask? Well, it was the headlines of several years ago screaming that a ‘Category 6 Fiscal Storm’, ‘Debt-Driven Meltdown’, ‘Systemic Banking Crisis’, ‘Financial Train Wreck’, ‘Wild Ride’, ‘God-Awful Fiscal Storm’, ‘Major Upheaval’, ‘Rude Awakening’, ‘Great Disruption’, ‘Debt Bombshell’, ‘Major Upheaval’, ‘Unwelcome Economic Spiral’, ‘Perfect Financial Storm’, ‘Serious Collapse’, ‘Drastic Fall’, ‘Financial Disaster’, ‘Major Bear Market’ and/or an ‘Economic Earthquake’ was in store for the U.S. and, indeed, the global economy in the very near future. And the future is now…

These warnings and predictions were often derided as just negative nonsense coming from alarmists, ‘party poopers’, ‘Chicken Littles’, ‘perma-bears’, ‘doom and gloomers’ and the like rather than from the insightful economists and financial and market analysts who made them. To their collective credit they were all substantially correct in their prognoses of what we could expect to happen as exemplified by what has occurred (and is still occurring) over the past 6 months. It has cost many investors 50+% of their stock market investments, 20 – 30% of the value of their home or even the loss of their house itself. Perhaps we should have paid more attention to what they said and as I compiled in the 6-part series back in 2006 regarding the “Ominous Warnings and Dire Predictions of World’s Financial Experts” followed up by a 4-part series entitled “Warning! Fiscal Hurricane Approaching! Is Your Portfolio Secure?”

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Crisis? What Crisis?

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By Christopher Ketcham

Singing the Gospel at Crapola’s End

MORE GOOD NEWS IN CRISIS from down the block here in Brooklyn: The realty office that I could almost spit on from my stoop has shut its doors, boarded up the classy windows, sent its half-breed parasites home, no more to feed on the entrails of rent control. Praise be to the realtors out of a job – may they find real work suited to their minds, dealing heroin to children or pulling the wings off flies for re-sale. Good times, I tell you, and the rents falling fast, the bubble-brain-time popping. On the same stretch of street in Brooklyn, the boutiques with their sale signs like epitaph, spray-painted in the colors of the rainbow, desperate-looking, like the owners were fainting as they painted. Jeans for $319 now at 50 percent – a bargain, I’m to understand. Read the rest of this entry »

Written by aurick

04/03/2009 at 9:39 pm

Posted in New Paradigm

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Wall Street Monsters & Meat (You)

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by Jim Willie CB  Editor of the “Hat Trick Letter”
Posted originally Oct 17, 2008

An historically unprecedented mess has been created by compromised central bankers and inept economic advisors, whose interference has irreversibly altered and damaged the world financial system, urgently pushed after the removed anchor of money to gold.

The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet.

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Those empty shelves

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AS ECONOMIC AND FINANCIAL mechanisms continue to malfunction, all or most normal commerce will change and decline drastically. The  jobs that people thought were going to be their whole life will change into other kinds of jobs. The UK will now be losing “around a thousand” jobs per week from now on, as we move into 2009. Two million on the dole now in the UK, many more in the USA, without dole relief, rioting in Greece, many more riots to come as young people rail at a system that promises no future, imagine the betrayal! Society, in some countries, will break down. And then the scary stuff: food shortages. There can be food riots, as the food supply mechanism gets disrupted. Supermarkets will run out of some imported foreign stuff first, then they will run out of more common or basic stuff. Then people might get panicky, and anxious, and start buying stuff “in case” they run out, and then you will find supermarkets becoming EMPTY. It can happen in a day!!! Just one day! If a few hundred people think there is going to be a food problem, they will clear the shelves in a few HOURS! Think about it. The psychology of fear! You see mobs, crowds of people rushing into a supermarket, and you think, what’s going on, and then you find yourself joining them, how can you not. And inside, you see the shelves being stripped bare, so you do the same, you buy and buy!!! (It happened last year, in England, when a dispute involving petrol tanker drivers forced the government to take emergency action, and I saw for myself how a tiny thing like that sparked queues at petrol stations, and pushed people into a hoarding mentality.) Mutiply that by a larger factor, and a whole so-called sophisticated society can be brought down. Martial law, anyone? Read the rest of this entry »

Written by aurick

17/02/2009 at 7:41 pm

It’s all going down!

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IN EARLY 2007 I read a book called “The Demise of the Dollar” and discovered something that was often casually mentioned in the media, but otherwise ignored, and that was that the U.S. dollar was going slowly down, had been going down for most of the 20th century in fact, and that ultimately the USA had such huge present and future deficits that an immense financially-related disaster waited, like a killer virus… another Great Depression maybe… Wanting to double check these revelations, I bought more books, with titles like: “The Dollar Crisis”, “The Coming Collapse of the Dollar”, “The Coming Economic Crisis” and then the Peak Oil issues, books like “The Party’s Over”, “The Last Oil Shock”, so called because there cannot and will not be any further oil shocks after the final big one, when we finally cannot economically extract any more oil, at which point, or before, our oil-dependent culture will truly go down, big time, and we will have sleep-walked into the most ghastly, dreadful future that could be imagined: mass starvation, social unrest, chaos on all fronts. I have a superb book on that theme, by the way, called “The Long Emergency – Surviving the converging catastrophes of the 21st Century” by James Kunstler, which describes exactly how such a breakdown in USA will happen, highly recommended if you have the stomach, but you cannot run away from certain warnings…

In the course of reading such books, mostly written more than 3 or 4 years before the present times, I began to slowly understand that most people are completely ignorant of some of the most basic financial and economic facts that underpin our entire culture, and in this ignorance, we have allowed ourselves to be manipulated, lied to, and ultimately stolen from. We have become the most gullible victims of an unimaginably huge scam, and eventually it will lead to a state of utter wealth destruction, and only a small handful of extremely powerful and well-connected individuals will walk away, immune, and wealthy beyond imagination. These people will have controlled events, manipulated entire markets, and will have profited to the detriment of everybody else. And we probably won’t know about it until after it’s happened. Events are moving now at such an extraordinary pace that the predictions given in those books are, broadly speaking, already old news. Which is to say, that these authors were mostly correct in their predictions. (The recent dollar rally of late 2008 would seem to say otherwise, but there is hidden manipulation of events that cannot be sustained.) The future is now. And those books show that events are now accelerating. And I have to tell you that the dollar, the Reserve Currency of the world, is close to being recognised as worthless. When the dollar goes down, it will truly be the end of the world, as we know it. I hate to say it, but the slow decline and demise of the American Empire is at hand. It has started, the unwinding of decades of excess has begun, and cannot be reversed. But look on the bright side, we have front row, the best seats in the house to witness an event like no other in our lifetimes.

Written by aurick

16/02/2009 at 11:30 am