Skip to comments.Suddenly Everyone Is Warning About The Next Financial Collapse
Posted on 05/31/2011 9:50:10 PM PDT by Kartographer
The following is just a sampling of the financial warnings that we have seen in recent days from some prominent voices....
*Economist Nouriel Roubini: "I think right now we're on the tipping point of a market correction. Data from the U.S., from Europe, from Japan, from China are suggesting an economic slowdown."
*Jim Rogers: "I would expect to see some serious problems in the foreseeable future .By 2011, 2012, 2013, 2013, I don't know when, we're going to have an economic slowdown again."
*Mark Mobius, the executive chairman of Templeton Asset Management's emerging markets group: "There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis."
*David M. Blitzer, Chairman of the Index Committee at S&P Indices: "Home prices continue on their downward spiral with no relief in sight."
*Jeffrey Gundlach, CEO of DoubleLine Capital: "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of."
*Carl Icahn: "I do think that there could be another major problem. Now, will it happen next week, next year, i don't know and certainly nobody knows, but i don't think that the system is working properly. I really find it amazing that we're almost back to where it was, where there's so much leverage going on in the investment banks today. There's just way too much leverage and way too much risk-taking, with other people's money."
(Excerpt) Read more at benzinga.com ...
For those who havent prepared and would like to start or for those that have and are just interested you may download my Preparedness Manual at:
As the LDS say When the emergency is upon us the time for preparedness has past.
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
It’s not suddenly.
Lots of people have been saying this for some time.
Screw the commodities! I have so many potatoes and cabbages growing this year, all I am missing is the gulag...
If we don’t eat them all we can always make vodka. If you stop by the house, bring your own shovel....
Those guys are pikers.
When Jim Thompson says it’s bad I’ll believe it.
Nouriel Roubini and Jim Rogers have been on this since before the meltdown. They are not Johnny come lately’s to this thinking. A lot more have been on this as well. The difference now that has the news finally bubbling up to the public is that the MSM can’t hide the truth anymore. Things are so blatantly bad, they don’t know how to hide it. It is about time.
Even this dude is warning about it. It’s bad, you know.
For those with little outdoor space.
“How to grow 100 lbs. of potatoes in 4 square feet.”
And anyone who doesn’t have “stuff” on hand is going to be sorry. Unavailable, very expensive, junk quality, not your size, etc. Things you can make are one thing (for instance, I have yards and yards and yards of many kinds of fabric, sewing supplies, sewing machines including foot pedal) but shoes? I can’t make shoes. Socks are hard too.
You think that is scary, watch this.
THE DECLINE: The Geography of a Recession
True there is so much that isn’t even made here in America any more like shoes that ther could be shortages for sometime until the balance of things are restored.
Has the president ever taken Econ 101a and b? Who was the professor? What were the textbooks? What were his letter grades?
Proof in the form of official transcripts would seem appropriate.
That implies this was unexpected, considering the prices of commodities and the trends, I'd say this was expected.
In before the living in fantasyland naysayers.
Good sound advice.
I’ve heard that the price of cotton has even gone up some.
We’re looking at cars and the guy we’ve been going to says the used car market is going crazy. They’re way up in price because of demand.
She who dies with the most fabric wins.....
I also have a couple treadle sewing machines. One I’ve used before. I think the other one needs repair.
Next? We aren’t done with the current model yet. When you fall off a cliff chances are that you will bump and carom off some crags on the way down, may even bounce back upward a few inches once or twice if your body is resilient. The Great Depression was not one continuous curve down then up but a series of dips and trumpeted recoveries. The bottom of the ocean is not a smooth bowl but it is all still the bottom.
The nation and the economy need another Ronald Reagan. Unfortunately such a one is very rare. Political savvy must be combined with managerial ability and an understanding of real adamsmith economics. Politicians, especially very successful ones are extremely rare because the personality required for the job is Dynamic and dynamic folks cannot be bothered studying something so boring and dry as Economics in colleege. Reagan had a degree in Economics. Fortunately that imprinted on his brain as he followed a career outside of professional economics and academia. Real economists, as opposed to MBAs and financiers, tend to work in academia and in corporations at jobs. They are not the sort to want to rule or to be president. If one is oriented toward Economics one is oriented away from participation in politics.
Ditto. If you have not already stocked up better get cracking.
Two treadles! I have one I haven’t used, my two main machines are an ancient black Singer that does forwards and backwards only, and a 50’s tan Singer than does fancy stitching by turning buttons. Hug collects sewing machines because he can fix them, they’re for resale and he has some info on turning electric machines into treadles.
There are no jobs here so we have many alternative methods of making money here and there. Low overhead is the key...
It is fairly obvious at this point that any economics the President took was based on Marx.
It’s very feasible to make underwear - like short bloomer things - but bras??? If you have any ideas let me know. I already can’t stand most out there - itchy, polyester, tiny straps, etc.
The price of cotton has gone way up, that will be hitting the stores soon if not already. I noticed a while ago that cloth is often thinner, seams teensy, etc.
Zero’s program “cash for clunkers” had so many perfectly good used cars crushed and the scrap metal sold to other countries that it ruined the supply of good used cars.
We destroyed a lot of perfectly good used cars in Cash for Clunkers. I’m certain the market effects of that are still shaking out, which adds to the problem.
Almost 30 years ago, while I was still single and living at home with a decent job, I bought a basic Pfaff. I LOVE it. It has never let me down.
I do so much sewing that I wore out two Brothers machines in a couple years each. They were garbage. So I decided to bite the bullet and invest in a good one while I could afford it and don’t regret it one bit. I have more than saved the money that that thing has cost me, both in cost of not having to pay someone to do mending, cost in not continually buying crap machines, and cost savings in clothes I made for the kids.
However, if the electric goes out, those old treadle ones sure will come in handy.....
I have a couple of “made in the USA” sites and later if you want I could post them.
We destroyed a lot of perfectly good used cars in Cash for Clunkers. Im certain the market effects of that are still shaking out, which adds to the problem.
That's obama economics for ya. Thanks obama for making life even worse for the poor.
Now good used cars are so scarce and expensive that those who need them the most and can afford new ones the least are screwed even more.
This is a very simple moccasin style shoe.
I have done some searches in the past, as I am a feltmaker and have a lot of leftover fabric, some of it tough enough for body armor. There is a segment of the felt crafters world doing this and some of the boots are awesome.
This woman has a business teaching shoemaking, supplying patterns and elements and she will even attach strong outdoor soles for other people’s uppers.
Not cheap, but you can get an idea of how it can be done. For the hand sewing on the sturdier boots, I think using a “sailor’s palm” would be a big help.
I have thought about simply stashing our worn-out shoes and boots to cut apart and re-purpose, if necessary. I had a pair of winter boots that were perfectly fine except that the rubber portion over the toe had cracked. I patched the crack with a piece of bike inner tube patch material. It lasted two full Wisconsin winters, was quick and easy.
I have had two pairs of handmade shoes in the past. One pair of sturdy oxfords lasted 10 years and I still have the leather boots I bought at a Renaissance Faire, many years ago. They have outdoor soles and will outlast me.
Last winter, I played around with a knitting loom for sock making. I have a terrible tension problem with knitting needles. There are fine looms for finer socks, but I had the best results with a Fisherman’s yarn and the cheap plastic looms from Walmart. The knitting loom community is big on socks and the heel portion took a few tries to learn. There are several series of DIY videos on YouTube that helped me a lot. It is very time-consuming, of course. It takes a week to make a pair. The acrylic yarn ones were easiest, but the sturdiest were wool, which I made larger than needed and felted. If I added a glue on sole, available at various craft stores/sites, they would make great house shoes. There are also stitch-on soles available at the sewing shops.
At one point I recall finding a pattern for sewn tube socks, using elastic thread in the top to keep them up, but I can’t find that right now. It can be done. Knitting tube socks is an option, too and it bypasses the heel portion. IIRC, you knit in a spiral pattern to get the stretch.
There are even instructional videos on the internet for making your own shoe lasts sized for your foot.
I don’t think I will be making shoes or even socks unless it is absolutely essential, but having at least a glancing knowledge of how it is done would inspire someone and I would be willing to trade my skills and my felt fabric, were things to get to that point.
I think stashing heavy duty wool and acrylic yarn, leather pieces, glues (these can be toxic and need to be used with ventilation) and some tools (looms and needles; a shoe sewing machine is expensive and a bit scary)and a store of worn out shoes to recycle, or at least use for patterns, would at least give someone a chance to experiment on long winter nights or during bad weather when we can’t go outside, anyway. Even right now, I know people who will knit to order if you supply the yarn and for me, it is worth it.
Stashing shoes and boots, of course, is possible. My husband can wear out a pair of shoes in a few months. He buys these great-looking ones made for cops and they have lasted a couple of years, already, which is a miracle. I keep an eye out at Bargain Outfitters and Sportsman’s Outlet and when I see a good price, I buy them there ($60+/- on sale).
*David M. Blitzer, Chairman of the Index Committee at S&P Indices: "Home prices continue on their downward spiral with no relief in sight."
On this one, I would comment: The downward spiral IS the relief. It's called a "correction" for a reason.
Otherwise, I agree with being prepared.
The “system” is not working right because we are a constitutional Republic being shaken down and over-lorded by a corrupt olagarchy of globalists who have no respect for old fashioned notions of nations with borders and the rule of law.
Globalism will crash this country if we don’t derail the train wreck and re-establish the constitutional Republic. Since there is a snowball’s chance in hell that will happen, we are going to crash.
All the knowledge in the world doesn’t mean a flip, unless one has a strong desire to stop the spending and eliminate agencies. “We the People” vs. Big Gov’t are not just words - that’s her commitment, that’s what SARAH is all about.
Sarah already proved herself in Alaska. Get informed on her accomplishments in Alaska. She’s already walked the talk.
I believe the downward spiral is brought on by fear. Barry has no desire to help the economy or America in general. That’s not what he is about - ‘the correction’ means some are finally seeing it.
“Two is one and one is none.”
Thanks for the info and links. Great.
Hub when he’s working outside (much of the time) wears loggers boots, Georgia is one brand, can’t remember the other. they’re over $100 but last a long time. Made in China now though. GRRRRRRRRRRRRRRRR
Back in the 90s, there was a group of displaced shoe makers from a Minnesota production shop who banded together and sold their wares at the wholesale craft shows. They were called Beaver Tracks. I searched them a while back and they are still in business in Moose Lake, MN. Awesome shoes. They made the pair of oxfords I mentioned. In ten years, I only had to replace the inner sole.
Your husband could repair/maintain the machines, but there are a lot of different machines needed and they all start at $1500 each and go up from there. Spendy.
There is a Shoe School you can search out online, too. Expensive enough that they don’t list prices. The woman in New England actually seems to be a bargain, considering what she does.
My treadle machine, BTW, came with a complete set of belts and accessories. I’ve never used it, but our Amish clients have always looked at it with longing. However, they are cheap and don’t want to pay more than $25 or so.
It sounds as though we live in similar areas. Hubby has always said that he has had to learn to do anything because there are few to no other people around who can do it/do it right/or do it cheap. He has maintained and refurbished my 2 Berninas and keeps his own walking foot industrial machine working. He even used some epoxy to repair a plastic gear in the 1960s Bernina and it has held up well.
There are US made loggers boots, but they are very expensive. $100 is actually affordable, in comparison. My husband doesn’t like the tall lace-up boots and ends up with sore feet from steel toes. Just finding good hiking boots and the shorter work boots has become difficult, though. So many are just shoddily made.
Hub likes the tall loggers boots because when he wears the shorter boots sawdust and dirt gets inside and his socks get filthy plus it’s not comfortable with all that stuff in there. He doesnt’ like steel toes either, they’re cold and he feels the cold a lot.
He gets boots and work shoes whenever they’re on sale at places like Ross - sometimes gets good deals. He got a pair of Keane’s (or is it Keene’s?) hiking boots, just above the ankle I think, and they’re extremely comfortable, but hiking boots never hold up that well for the kind of work he does. He agrees that boots of any kind made now fall apart really fast. He does like some kinds of Doc Martins.
We’re too old with too much else to do to really learn shoe making unless we could just make a few for ourselves, it sounds as though the equipment needed is beyond the means of anyone who isn’t going to go into the trade. People should think of it, though.
Ditto on too old and too much investment.
But, we both like to work with our hands and it is looking as though we will be in the sort of world where we will be trading skills in more of a series of local economies. No one in my rural area even repairs shoes, any more. I think people will begin to look for niches where they are.
I have no need...but quickly searched and found this:
Fixing and making things from parts will IMO be very useful ways to earn bits of cash. Or heck, barter.
I’ll take a look, thanks.
No problem, good luck!
Oh, then we are set! Nothing is ever thrown away, everything gets cannibalized for use somewhere else and we have quarter-of-a-century old useful things we use every day! We have a collection of obsolete parts to keep our obsolete tools and appliances and toys running.
I am also totally serious when I say that JB Kwik Weld, Gorilla Tape, silicon fusion tape and WD-40 are among our most important storage items.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.