Run For The Hills!
Posted on 08/30/2011 10:09:59 PM PDT by blam
Run For The Hills!
They keep pretending that the underlying problems aren’t there.
Warren Buffet drops 5 billion on BOA and all of a sudden the bad loans are gone.
It cracks me up.
Monday they say consumer confidence is up in July (School supplies) so the markets rally.
Today they say consumer confidence in Aug plunged, but there is no reciprocal in the market.
The wallstreet guys are still floating the idea that there will be a Fed stimulus.
It’s just been bad news bad news bad news.
I don’t see any relief on the horizon.
Just wait till all the student’s loans go into default. Then you’ll see panic.
btt
That's my opinion too. We'll see something in six weeks or less...gold will shoot up to $2k or more an ounce and the market will rally higher.
Food prices will continue climbing.
Energy prices may stay the same or go lower on less demand, but, not higher.
The FOMC is meeting again toward the end of next month (QE3 then, more free money for government and all who suck revenues from it). My best guess says for now, that the next noticeable ugly bump would be more likely sometime around the first or second quarter of next year. But panics...those are hard to forecast.
None of the fundamental problems that caused the crisis of 2008 have been fixed. The world financial system is still one gigantic mountain of debt, leverage and risk.
And in Washington DC, we can expect no change, and therefore we have no hope of riding out the coming financial tsunami that will wash over our shores without huge damage we can't afford to fix. The time bomb is ticking, yet when the Congress comes back after Labor Day I predict nothing useful will happen for the rest of the calendar year. President Obama will outline his "latest ideas" (CBO: "we can't score a speech") for turning our economy around: more of lame same. Meanwhile, the Executive Branch regulators continue to pour toxic waste into the business environment. (Interesting that some of the worst regulatory toxic waste is coming from Obama's Environmental Protection Agency. I guess EPA only cares about the trees.)
And if it gets bad enough, I expect things will get nasty indeed.
Celente Says "All In."
"I am not in Swiss Francs anymore. I got in (Swiss Francs) about a year and a half ago and did very well, but I’ve transferred everything I own into gold, I’m now totally invested in gold.”
That said... TEC and similar sites are there to make money by driving panic. DON'T PANIC. Be prepared and keep your wits about you - your country will need you.
Here's the scary part: just a nuclear conflict between China and India could kill twice the number of dead in all of World War II from a nuclear exchange. And that's not counting the additional dead as the "mini" nuclear winter from such a conflict will severely cut agricultural output and billions around the world starve to death.
I’ll tell you what Congress, or should I say The “Super Congress” is going to do.
They are going to whack defense to kick the can down the road.
bump
Someone needs to explain to me why student loans are the only loans that you are unable to file bankruptcy on.The usual reason: some greedy people took undue advantage. See http://www.bankruptcyhome.com/studentloans.htm
If you have money right now the best investment is distance from any major urban center, and in the tools you need to survive if the rest of the country descends into chaos - farming equipment and the guns and ammo to protect it.
Take all your money out now! Panic! LOL! It never gets old.
Once they do... watch out!
Why are they even calling this gang of 12 the super congress?
They will be the Stupor Senators
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