The Great Obama Depression Is Coming

Lubbock on line ^ | 2/19/09 | Donald R. May

[FromLori]

If major tax and regulatory relief are not quickly instituted, our economy will soon hit the next major stage in its downward spiral.

This will happen because people are slowing their spending and their investing, as they have no idea what President Obama will do next. Businesses are losing money, contracting, and closing down. This leaves people without jobs and commercial real estate space empty. Closing businesses pushes down the value of real estate property. Left unchecked and uncorrected, we will soon begin to experience a major commercial real estate crash.

[jersey117]

Thanks for the ideas. I thinks it’s time to start collecting stuff.... just in case. We can hope for the best but must prepare for the worst.

[FromLori]

the bo stock market...

Stocks extend slide

http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chdet=123516360000

CNNMoney.com - 1 hour ago
By Alexandra Twin, CNNMoney.com senior writer NEW YORK (CNNMoney.com) — Stocks retreated Friday, building on the previous day’s declines, after the Dow closed at its lowest point in more than 6 years.
US Stocks Fall After Stiff Declines in World Markets Overnight Washington Post
US STOCKS-Bank uncertainty knocks Wall St; Citi hammered Reuters
The Associated Press MarketWatch Related articles »

[NavyCanDo]

Of interest:

” New York Stock Exchange trading halts will be triggered if the Dow Jones Industrial Average .DJI declines by 850 points compared to its previous close, unless the drop is after 2:30 p.m in which case trading will continue. Trading shall be halted for 1 hour if that limit is reached before 2 p.m. and for 30 minutes if it is breached from 2 p.m. to 2:30 p.m.
If the Dow falls 1,700 points before 1 p.m., trading will be halted for 2 hours and for 1 hour if the drop comes between 1 p.m. and 2 p.m. If such a drop is registered after 2 p.m., trading will not resume for the rest of the day.
In the event of a 2,600 point fall in the Dow, trading will be stopped and will not resume for the rest of the day. “

[ladyjane]

Here is the link.

http://uk.reuters.com/article/marketMovers/idUKN2025722720090220

The article about trading halts is the second one down.

[azishot]

My financial advisor just informed me he sees us coming out of the bottom right now. He sees things starting to improve the next 6 months.

***Ours, too. But this is the same guy who told us NOT to buy gold last year.

[ladyjane]

You are correct, the trading halts are not new. They came in after the dip in 1989(?) maybe, or was it later.

What is new: when was the last time you saw a news story about them?

[spiderfern]

I remember Howard Dean saying in 2005 it would take a Depression to move the country back to the LEFT.

[MattinNJ]

I live in NW Jersey and commute to Princeton. Even though I take back roads, there used to be some traffic. Now, the roads are empty like it’s a holiday.

[autumnraine]

Don’t forget things that will be not to readily available like cough syrup, ibuprofen for fevers and bandages. When you find cheap band aids at pharmacies, grab them. Dollar stores have cheap cough syrups and fever reducers. Also, if you can’t afford the nice “gauzes”, I have found dollar store menstrual pads will do in a bad spot. Sounds gross, but I mean it is made to absorb...

Not only that, but I have also stocked up on things like cheap baby wipes that are antibacterial that will come in handy for cleaning when water is precious, too precious for bathing. They are cheap, (buy the kind in the sealed plastic bags, not boxes, too hard to store) and keep in a plastic tub with a lid. Should store for a while. And also bought some cheap lysol and disinfectant cleaner. Just little odds and ends like that stored seperate from the food stuff.

Don’t just store canned vegetables though, you will need protein. You can get some from beans, but also I got cheap roast beef and stuff. Peanut butter stores well for protein too. And it’s a mild sweet treat.

And ammo. You have to be able to protect what you have made. Also, if you do grow a garden, there will thieves in the night. We have that now and there isn’t a food crisis.

[jersey117]

And ammo. You have to be able to protect what you have made. Also, if you do grow a garden, there will thieves in the night.

Thanks. The garden I can do. As for the ammo? I live in Jersey....LOL

[Crystal Cove]

I think the last time I saw a news story about them was when trading was halted that day at the end of last year.

[jersey117]

NJ Transit (the Jersey Shore line) into NYC has been pretty empty as well.

[autumnraine]

Get you a Curios and Relics FEDERAL license (google that) for $30 and it should supercede the NJ carry law. Check it out to see. Purchase old retired WW2 Russian rifles and it would be purchased for “antique and collection” purposes, but the ammo you buy with it can be used along with the rilfes if all out SHTF moments erupt.

[MattinNJ]

Interesting. At first, I didn’t mind the lack of traffic. I find it pretty unsettling now that I realize what’s causing it.

[Oatka]

I have found dollar store menstrual pads will do in a bad spot. Sounds gross, but I mean it is made to absorb...

Also good for covering wounds. 'Nuff said.

[autumnraine]

Thanks, that was a better way to put it.

[flash2368]

If he sees things improving in the next 6 months, I think he has been drinking his bathwater. Look for the dollar to make the biggest currency crash in the history of the world. Like many people, I think it is an orchestrated plan to destroy our economy...and the first shot was the “collapse” created to get O’dumba elected. “Brother can you spare me a C-Note?” will be the catch phrase of the coming depression.

[Molly T.]

Well, you may be right...but that's not my take on the guy....I think he knows very well what he's doing....he told us way back early on in the primaries....REDISTRIBUTE THE WEALTH....that means he intended to take from the rest of us...including people like me..my husband and I played by the rules...never asked or expected any handouts when we were young, money was tight, my man worked 2 jobs, we never got rich, but what we had was not given to us...we scrimped and saved and did without.It's a different culture now...there are many with a hand out and wanting something for nothing...what ever happened to doing without till you could afford to buy it yourself? Thankfully I won't have to contend with this many more years...I'm 76...but I am SICK over what is being done to the America I was so blessed to live in all these years...I have children, grandchildren and 5 little great grandsons’ who WILL have to find their way....and all this havoc has been and is being done on purpose, deliberately,according to a plan instigated by those pulling the strings behind the scene....and enacted by a bunch of America hating racist Chicago based thugs who have brought their strong arm tactics into Washington via Hussein Obama.... I hope there are a few who voted for that traitor that come over to this site to read what's being said..I say to them....Do you feel good about your vote? We're a month into “wonder boy's” reign, have you had enough CHANGE yet? Do you feel proud at the idiotic vote you gave?

Talk about going from the frying pan into the fire!!!! May God have mercy on us all.

[Molly T.]

My apologies for the long paragraph I just posted before this....I tried twice to put in paragraphs, but to no avail....

[Molly T.]

My apologies for the long paragraph I just posted before this....I tried twice to put in paragraphs, but to no avail....