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Suddenly Everyone Is Warning About The Next Financial Collapse
Benzinga.com ^ | 5/31/11 | Michael Snyder

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 ...


TOPICS: Business/Economy; Government; Society
KEYWORDS: bhoeconomy; buygold; buysilver; debt; default; economy; emergencyprep; financialcrisis; getreadyhereitcomes; getthingsinorder; greatestdepression; greatestrecession; greatrecession; hopeychangey; investment; nobama2012; obama; obamadepression; obamanomics; preparedness; preparenow; preppers; prepping; shtf; survival; survivalping; thecomingdarkness; tshtf
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To: little jeremiah

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.


21 posted on 06/01/2011 2:44:12 AM PDT by metmom (Welfare was never meant to be a career choice.)
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To: Kartographer

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.


22 posted on 06/01/2011 4:55:05 AM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: presently no screen name

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.


23 posted on 06/01/2011 5:03:03 AM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: Kartographer

Ditto. If you have not already stocked up better get cracking.


24 posted on 06/01/2011 5:59:27 AM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: metmom

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...


25 posted on 06/01/2011 6:40:31 AM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: Seaplaner

It is fairly obvious at this point that any economics the President took was based on Marx.


26 posted on 06/01/2011 6:44:07 AM PDT by FreedomPoster (Islam delenda est)
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To: metmom

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.


27 posted on 06/01/2011 6:46:17 AM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: metmom

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.


28 posted on 06/01/2011 6:49:58 AM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: metmom

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.


29 posted on 06/01/2011 6:51:13 AM PDT by FreedomPoster (Islam delenda est)
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To: little jeremiah

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.....


30 posted on 06/01/2011 6:52:12 AM PDT by metmom (Welfare was never meant to be a career choice.)
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To: Kartographer

I have a couple of “made in the USA” sites and later if you want I could post them.


31 posted on 06/01/2011 6:53:15 AM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: little jeremiah; FreedomPoster
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.

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.

32 posted on 06/01/2011 6:55:54 AM PDT by metmom (Welfare was never meant to be a career choice.)
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To: little jeremiah

http://www.wonderhowto.com/how-to-stitch-up-simples-diy-shoe-222856/

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.
http://www.simpleshoemaking.com/solesforfelt.htm

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.
http://www.knotandrope.com/Store/pc/viewPrd.asp?idproduct=148&idcategory=40

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).


33 posted on 06/01/2011 7:01:29 AM PDT by reformedliberal
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To: Kartographer
I think the prognostications are sound, if only because they are sufficiently vague or broad. However:

*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.

34 posted on 06/01/2011 7:02:19 AM PDT by Larry Lucido (Free Lazamataz! With every purchase!)
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To: Kartographer

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.


35 posted on 06/01/2011 7:03:38 AM PDT by SaraJohnson
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To: arthurus

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.


36 posted on 06/01/2011 7:05:06 AM PDT by presently no screen name
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To: Larry Lucido

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.


37 posted on 06/01/2011 7:10:05 AM PDT by presently no screen name
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To: Kartographer

“Two is one and one is none.”


38 posted on 06/01/2011 7:18:31 AM PDT by Lurker (The avalanche has begun. The pebbles no longer have a vote.)
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To: reformedliberal

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


39 posted on 06/01/2011 7:48:47 AM PDT by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: little jeremiah

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.


40 posted on 06/01/2011 8:35:33 AM PDT by reformedliberal
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