Posted on 02/23/2009 8:46:10 PM PST by TigerLikesRooster
Red Alert: Major Meltdown Imminent! Your Escape …
by Martin D. Weiss, Ph.D. 02-23-09
Martin D. Weiss, Ph.D.
The nation’s largest banks are so close to collapse and the world economy is coming unglued so rapidly, a major Wall Street meltdown is now imminent.
Specifically, it’s now increasingly likely that virtually all of our forecasts of recent months could come to pass in a very short period of time, including …
* Stock market crash: A swift plunge in stocks to about 5000 on the Dow, 500 on the S&P 500 and 900 on the Nasdaq … or lower. (For our reasons, see “Stocks to fall AT LEAST another 40%!“)
* Corporate bankruptcies: A chain reaction of Chapter 11 filings or federal takeovers, including not only General Motors and Chrysler, but also Ann Taylor, Best Buy, Jet Blue, Macy’s, Saks Fifth Avenue, Sears, Toys “R” Us, U.S. Airways and even giants like Ford or General Electric.
* Megabank failures: Bankruptcies or nationalization not only of Citigroup and Bank of America, but also JPMorgan Chase and HSBC. (See my January issue, “Megabanks Could Fail Despite Federal Aid.”)
* Nationwide epidemic of small and medium-sized bank failures: Outright FDIC takeovers, with little prospect of nationalization. (I’ll give you a link to our free guide with a more extensive list in a moment.)
* Insurance failures: State takeovers of companies like Ambac Assurance, Bankers Life and Casualty, Conseco, FGIC, Medical Liability Mutual, Mortgage Guaranty Insurance, Nuclear Electric Insurance, PMI Mortgage, Standard Life of Indiana and many others. (Our free guide also contains a more extensive list of insurers.)
* Cities and states: An epidemic of defaults by thousands of cities, states and other issuers of tax-exempt municipal bonds.
(Excerpt) Read more at moneyandmarkets.com ...
I’ve thought about this, what if everyone raised them to 9....bet that would send a message!
Good luck with your financing. I have a deep respect for the small farmer. Was just reading an article yesterday about dry farming and how coping with these techniques was essential to staying afloat.
That is not to say that the SM has not been wildly overpriced for the past 20 years.
Batten down the hatches!
~~President Andrew Jackson, on the 2nd National Bank
“We have suffered more from this cause [unbacked paper currency] than from every other cause or calamity. It has killed more men, pervaded and corrupted the choicest interests of our country more, and done more injustice than even the arms and artifices of our enemy.”
~~Daniel Webster
"The crisis of the abuses of banking is arrived. The banks have pronounced their own sentence of death. Between two and three hundred millions of dollars of their promissory notes are in the hands of the people, for solid produce and property sold, and they formally declare they will not pay them. This is an act of bankruptcy, of course, and will be so pronounced by any court before which it shall be brought. But cui bono? The laws can only uncover their insolvency, by opening to its suitors their empty vaults. Thus by the dupery of our citizens, and tame acquiescence of our legislators, the nation is plundered of two or three hundred millions of dollars, treble the amount of debt contracted in the Revolutionary war, and which, instead of redeeming our liberty, has been expended on sumptuous houses, carriages, and dinners. A fearful tax! if equalized on all; but overwhelming and convulsive by its partial fall. Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper, as we were formerly by the old Continental paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burthen all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs. Prudent men must be on their guard in this game of Robin's alive, and take care that the spark does not extinguish in their hands. I am an enemy to all banks discounting bills or notes for anything but coin. But our whole country is so fascinated by this Jack-lantern wealth, that they will not stop short of its total and fatal explosion."
~~Thomas Jefferson to Dr. Thomas Cooper, 1814
Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money.
~~Sir Josiah Stamp, in1927 the 2nd richest man in England, and former head of The Bank of England
Yep, $500 for canned goods could be the best investment you ever made. At the worst, (as an investment), we muddle through and you eat the food. OTOH, it could save your family’s life.
One factor to consider is that going out to look for food during a crisis could put you in great danger from roving bandits etc. Hungry people with no prospects will be very dangerous. If you can avoid the hunt for food during the worst phases, you will be much safer.
There’s certainly no signs of drought in our area in Iowa.
I would suggest taking a sharpie pen and marking the dates of purchase adn exp. right on top of the cans as you buy them. They will go bad, starting in 3-4 years.
You may be alone.
Soros has yet to explain what Lehman Brothers was doing that cause them to go bankrupt. All he has done is itched that the powers that be let them go bankrupt. Did some one or more than one, known or unknown out smart Mr. financial take down?
Avoidable? Yes.
If Obama hadn’t signed Porkulus, if he would extend and improve on Bush’s tax cuts, if he would deregulate the financial markets and remove the onerous regulations that are causing the crisis.
Never happen? Yes.
That is a good sign. I am a contrarian and am buying like crazy.
On the other hand, it could be that our culture is moving away from snail mail with a vengeance and we are in a period where advertizing is WAY down.
I know Linens & Things and Circuit City aren’t sending flyers any more.
I now pay all my bills electronically and don’t even receive a paper copy of my paycheck.
All we get, day after day, is junk mail. And it is shrinking.
That is good advice.
I also never golf during a thunder storm!
Potter cut $2 billion out of ordinary costs. At the same time revenues dropped $6.5 billion (leaving a net loss of $4.5 billion).
That's more than a 10% drop in a very short period of time.
What that means is that the loss in revenue occurred predominantly in the parts of the entire USPS national business structure with the lowest level of variable costs ~ that consists of rural America, particularly those parts most dependent on agricultural endeavor.
Any other type of loss (to electronics) would broadcast a different sort of signature ~ one where reductions in variable cost (due to loss of volume) were far closer to reductions in revenue.
BTW, I'm not the first guy to notice the phenomenon. That happened in the early 1950s when there was a major drought. Congress raised postage rates temporarily explicitly for the purpose of preserving service value (cost of operations) during the drought.
Even the arrival of the Great Depression in the early 1930s didn't have this particular impact, although the 1937 drought (SEE: Dust Bowl) did. No rate change was needed for 1937 because the Post Office Department was being used by Roosevelt as an employer of last resort, and subsidies were plentiful.
At the moment I remain America's most knowledgeable expert regarding the use of USPS as an early warning device for detecting serious droughts. My record in that regard is, so far, perfect. You should pray that I am wrong this time!
My relatives in Northeastern SD would probably like a drought. They’ve been flooded for over a decade.
;)
That used to be part of a really big lake.
What a difference a couple of years make? My estimate was viewed as beyond the worst, an impossibility, a real tin-foil stuff, back then. Now some people are predicting worse than I am.:-)
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