THE PANIC OF '08:

[WhiteFeather]

This is some scary "stuff" going on in the ecomony right now, buy some hard commodities for hard times while paper still has some value left.

http://news.kontentkonsult.com/2008/07/panic-of-08.html

THE PANIC OF '08:

THE PANIC OF '08: CODE RED - PROTECT YOUR FUTURE NOW!

RHINEBECK, NY 14 July 2008 -- The "Panic of '08" that we had predicted is "ON." Only the blind can't see it, the deaf don't hear it and those in denial won't admit it. America's economy has taken a direct hit. The nation's financial superstructure is collapsing. Those waiting for the "official word" and hesitating to take survival measures will go down with the sinking ship of state.
The Economic 9/11 that we had warned would "topple corporate giants" and "crush the man on the street" hit on Friday. (See "Economic 9/11," Trend Alert, 12 November 2007; "Economic 9/11" Top Trends 2008, Trends Journal, Winter 2008.) While an economic terror strike was long in the making and the devastation long predicted, the financial markets melted down and panic hit the Street on the news that the nation's two largest mortgage finance companies, Freddie Mac and Fannie Mae, were on the brink of failing.

The dollar resumed its downward slide, gold sharply reversed its three month slump and oil rose to record highs on the threatening economic news and word that Israel was practicing bombing runs over Iraq in preparation to attack Iran. The Dow - before paring some of its losses on a late in the trading day rumor that the Fed would open its discount window to keep feeding Mac and Mae with needed cash to stay afloat - had fallen to a two year low on Friday.

Hours after the markets closed on the East Coast, and with the nation gearing up for another summer weekend, most people were tuned out when IndyMac Bancorp officially went belly up at 3 PM PST. Had the news hit while Wall Street was in session that the second biggest bank failure in US history was under way, calamity would have ensued. Instead, the out-of-touch missed the news and the ever-hopeful believed Uncle Sam would save the day.

Baby Talk

Despite calls from the business media and politicians from both parties for government intervention to rescue the failing institutions, there are no bailouts, buyouts, quick fixes or magic remedies that will save America's economy from going under. The formula is simple and the outcome predictable: The more money the government prints to cover the multi-trillion dollar losses, the weaker the dollar gets. The weaker the dollar gets, the higher inflation goes. The higher the rate of inflation, the more it costs to live. With wages going down and unemployment going up, the poorer the nation becomes. Americans will be facing the worst economic times in living history, and so too will much of the world.
There is NO WAY OUT. While Washington may devise some tricky monetary maneuvers to temporarily stop the bleeding, as they did to keep Bear Stearns from going bankrupt this past March, there is nothing that anyone can do that will stop the economic hemorrhaging.

Editor's note: Claims by market analysts, politicians, special interests and the generally interested that media and pundit "hysteria" is "unnecessarily inflaming market fears" are overstating the power of persuasion and understating the causes and effects that have created the current economic climate. More than homegrown pessimism and personal negativity, it took decades of destructive business and government policies and years of greed and corruption to destroy the world's largest economy.

Trendpost to Profit: Some $1 billion of uninsured deposits held by 10,000 IndyMac customers are now trapped and federally seized. Since FDIC only insures deposits of up to $100,000, holders of accounts with larger amounts under one social security number (business and/or personal) may consider dispersing funds to safer havens.

We predict a continuing spate of banks, businesses, and brokerages going bust (See "Panic of '08," Top Trends 2008, Trends Journal, Winter 2008). As events continue to spin out of control - and considering draconian measures that have abrogated constitutional rights under the guise of fighting terror - we forecast that the "little people" will be forced to pay for costly government rescue plans to save the "too big to fail." A dollar devaluation, a repatriation of gold coins, bullion, stocks, ETFs, etc, bank withdrawal limitations and other government restrictions will be put in place to prevent the general public from taking steps to secure their liquid assets.

Forewarned is forearmed. For those that proceed into the future unprepared, the outcome could be ruinous. For those searching for fresh opportunities and new directions, we can provide trend-based solutions to put you on the path to profit in the midst of confusion, panic, fear and loss. For more information, please contact our Professional Services Department at 845.876.6700 or go to www.trendsresearch.com for the full range of Trends Research Institute services.

Gerald Celente
Founder/Director
The Trends Research Institute
Website: www.trendsresearch.com
Email: gcelente@trendsresearch.com
845-876-6700

[Delco Sig]

Way to spread panic over an issue over which there is no consensus..

[625]

There is NO WAY OUT.

we can provide trend-based solutions to put you on the path to profit in the midst of confusion, panic, fear and loss.

What a joke. The sky is falling, the sky is falling!! Just give us your money and we will tell you how to invest it.....for a small fee of course.

Thanks Chucky Shumer! And thank the rest of you greedy SOB's on both sides of this. You have idiots that are buying houses with essentially NOTHING, sometimes not even a job, and you have slimy lenders.

This shit only gives the socialists like Obama more fuel because this is capitalism at it's worst.

[SilentRage]

What a joke. The sky is falling, the sky is falling!! Just give us your money and we will tell you how to invest it.....for a small fee of course.

Thanks Chucky Shumer! And thank the rest of you greedy SOB's on both sides of this. You have idiots that are buying houses with essentially NOTHING, sometimes not even a job, and you have slimy lenders.

This shit only gives the socialists like Obama more fuel because this is capitalism at it's worst.

actually , I think stupidity is at it's worst !!!

[dc dalton]

Been saying this was going to happen for about a year now .. funny thing is if you watch MSM they all swear it is over and everything is now rosey!

Today they say "oh good, they (insert any company) only lost 2.2 billion when we expected them to lose 2.5 billion" and the stock starts running up the flagpole.

They have inverted reality to try and fight this from getting to all the 'mom and pops' so they keep their money in the market ...

The fun has yet to begin, trust me

[RandomTask]

The new economics glossary:

Strong (n.) - not as shitty as we expected.

Bull Market (n.) - a two day rally.

[dc dalton]

The new economics glossary:

Strong (n.) - not as shitty as we expected.

Bull Market (n.) - a two day rally.

Actually that second one could be called a bullshit market but here's some quotes from CNN financial to back up your quotes there:

JPMorgan Chase (JPM, Fortune 500) said its second-quarter profit plunged 53% due to $1.1 billion in writedowns. But the bank, which incurred a large loss from acquiring embattled investment bank Bear Stearns, still managed to beat Wall Street projections.

OH BOY OH BOY their profit is just screaming isn't it?

Shares of Wachovia (WB, Fortune 500) rose sharply despite action by regulators in several states to seek documents from the Wachovia Securities unit tied to the company's auction-rate securities sales.

Trust me, this turkey is the next big bank to say bye bye

Construction of single-family homes fell 5.3% to the slowest pace since January 1991, according to a Commerce Department report.

Now isn't that comforting?

The Philadelphia Fed Index, a regional manufacturing survey, posted a reading of minus 16.3 in July, worse than economists' expectations.

But the market ran up another 200 points today?

And the Labor Department reported that initial jobless claims rose by 18,000 last week, although the jump was smaller than economists had forecast. The four-week moving averages of initial jobless claims and continued claims from those already receiving benefits both fell slightly.

Sounds like "don't worry, be happy" doesn't it?

Continental Airlines (CAL, Fortune 500) said it swung to a loss due to higher fuel charges, but the airline still managed to beat analysts' expectations.

Dow component Coca-Cola (KO, Fortune 500) said its second-quarter profit dropped 23% on a one-time charge related to its bottling company. Excluding the charge, the world's largest soft drink maker beat analysts' expectations.

now granted its not all THAT bad but when you see headlines like this and the market runs up almost 500 points in two days there's only one word for it:

Dead Cat Bounce

[str8shooter]

The problem with all this dooms day crap is these morons can actually initiate a crisis by creating a self fulfilling prophecy. Some so-called economics expert says go get your money, 'cause there's gonna be a run on the bank, so people actually went out and created a run on the bank that otherwise may never have happened.

When it comes to the U.S. economy, which is just a small part of the global economy, it's gotten so complicated for the average citizen that many people will accept whatever the media tells them, and make important financial decisions based on nothing other than hype generated to increase nielsen ratings.

I haven't used "paper" in so long (save the occasional cup of coffee or news rag purchase), I forget what denominations bills come in. I get an email telling me my paycheck has been deposited, email telling me my mortgage was paid, email telling me my cable bill is due. At times it feels all imaginary, just numbers floating around the internet. Swipe a card, the gas tank is full, punch in a PIN, groceries paid for.

I've got so much vested in the electronic monetary system I have to pay close attention to what's really happening. I can't afford to rely on some sensationalized article slanted specifically to accentuate the view point of whoever stands to make a profit from it. I won't pretend to come even close to understanding how the economy works, but I know it's held together by very thin thread and I don't want my future jeopardized by some alarmist trying to promote his own personal agenda or build a name for himself. I keep my investments simple enough where I can make my own decisions, and I don't keep all my eggs in one basket. I'm not going to panic just because somebody says to, and if my investments go down the toilet, then I've got only myself to blame. I've always been the type to stop and look around as people run by just to make sure there's actually a reason to run. Someday I'll get squashed by a falling piano, but at least I won't get trampled in a crowd.

For better or for worse, I don't see myself ever having to worry about having more money in savings than is Federally Insured in a bank account. And even if all the banks go belly up and I lose all the money in my accounts, well, let's just say it wouldn't be a significant loss.

[Jackal]

http://yonkerstribune.typepad.com/yo...d-celente.html


The “Second American Revolution” Has Begun By Gerald Celente


Celente_Gerald Kingston, NY -- The natives are restless. The third shot of the “Second American Revolution” has been fired. History is being made. But just as with the first two shots, the third shot is not being heard.
America is seething. Not since the Civil War has anything like this happened. But the protests are either being intentionally downplayed or ignorantly misinterpreted.

The first shot was fired on April 15, 2009. Over 700 anti-tax rallies and “Tea Parties” erupted nationwide. Rather than acknowledge their significance, the general media either ignored or ridiculed both protests and protestors, playing on “tea bagging” for its sexual innuendo.

Initially President Obama said he was unaware of the tea parties. The White House later warned they could “mutate” into something “unhealthy.”

Shot #2 was fired on the Fourth of July, when throngs of citizens across the nation gathered to again protest “taxation without representation.” And as before, the demonstrations were branded right-wing mischief and dismissed.

The third volley, fired in early August, was aimed point blank at Senators and House members pitching President Obama’s health care reform package to constituents. In fiery town hall meetings, enraged citizens shouted down their elected representatives. It took a strong police presence and/or burly bodyguards to preserve a safe physical space between the politicians and irate townspeople.

The White House and the media have labeled protestors “conservative fringe elements,” or as players in staged events organized by Republican operatives that have been egged on by Fox news and right-wing radio show hosts.

In regard to this latest wave of outbursts, health industry interests opposed to any reform are also being blamed for inciting the public. But organized or spontaneous is not the issue. While most protestors exhibit little grasp of the complex 1000 page health care reform document (that nary a legislator has read either), their emotion is clearly real and un-staged.

Rightly or wrongly, the legislation is regarded as yet another straw on the already overloaded camel’s back. A series of gigantic, unpopular government-imposed (but taxpayer-financed) bailouts, buyouts, rescue and stimulus packages have been stuffed down the gullet of Americans. With no public platform to voice their opposition, options for citizens have been limited to fruitless petitions, e-mails and phone calls to Congress … all fielded by anonymous staff underlings.

Now, with Congress in recess and elected representatives less than a stone’s throw away, the public is exploding. The devil is not in the details of the heath care reform, the devil is the government mandating health care. Regardless of how the plan is pitched or what is being promised, to the public the legislation is yet another instance of big government taking another piece out of their lives and making them pay for it; again telling them what they can or cannot do.

Though in its early stages, the “Second American Revolution” is underway. Yet, what we forecast will become the most profound political trend of the century – the trend that will change the world – is still invisible to the same experts, authorities and pundits who didn’t see the financial crisis coming until the bottom fell out of the economy.

Trend Forecast: Conditions will continue to deteriorate. The global economy is terminally ill. The recession is in a brief remission, not the early stages of recovery. Cheap money, easy credit and unrestrained borrowing brought on an economic crisis that cannot be cured by monetary and fiscal policies that promote more cheap money, easy credit and unrestrained borrowing.

Nevertheless, Washington will continue to intervene, tax and exert control. Protests will escalate and riots will follow.

Fourth Shot of the “Second American Revolution”: While there are many wild cards that could light the fuse, The Trends Research Institute forecasts that if the threat of government-forced Swine Flu vaccinations is realized, it will be the fourth shot. Tens of millions will fight for their right to remain free and unvaccinated.

[Mtbkski]

Funny how we all carry firearms because of "What Could Happen". But when it comes to our economy. It is a joke. Nothing is wrong. It will never happen.

I think there is a better chance of our economy falling apart then of my ever needing my firearm actually.

Question is.... What if it does. Are you in any way prepared for it? Or will you become one of the "sheeple" and wonder around wondering what the hell am I going to do now.

Remember the saying we all use for handguns, it would apply here as well....
Better to have it and not need it, than to need it and not have it.