Posted on 11/23/2008 1:43:46 PM PST by mick
I don’t have to tell you how awful things are. People all over the world are frightened. Many are panicking. Most are confused and don’t know where to turn for guidance or help with their money and their future. Since January 1, 2008, stockholders of U.S. corporations have suffered about $8 trillion in losses, as their holdings declined in value from $20 trillion to $12 trillion. Homeowners will soon see their equity down by as much as $8 trillion, and those losses are likely to increase.
(Excerpt) Read more at financialsense.com ...
Pakistan about to go bankrupt? I wonder what repercussions that would have.
No more curry with the fringe on top.
Sell your soul to the company store.
Accure?
CA....
...I agree that things are going to be worse than in 1929...not the same value system and worse economic times...not a pleasant outlook.
there I go abusing spell check again..ACCRUE.....thanks
“Stephen Colbert called Jim Cramer “a prophet” for saying that the Fed knew nothing when everyone said he was nutso.”
Financial commentators quoting Stephen Colbert on Jim Cramer might just be a sign that the world is coming to an end.
Ya, that really cheered me up...
This is the most exact forum I’ve ever been on...or is that “been with”...or is it “written to”...?? lol
Smart money is already inside these countries' rather secure banking and investment systems.
As far as the USA goes, there are relatively fewer safe harbors.
I do agree on one thing the good Dr. mentions: KAKISTOCRACY.
"That’s right. Pure, unfettered, unprincipled and undisciplined KAKISTOCRACY: government by the least qualified or most unprincipled citizens."
She is right on the money in that sense.
LOL!!!
That was VERY clever. :)
Think of it this way: If American government school teachers were offered this deal, all pay and no options, and 50% didn’t show up for work ever, it would be worth it...
*****I agree that things are going to be worse than in 1929...not the same value system and worse economic times...not a pleasant outlook.*****
There is no *dust bowl* as in the 1930’s - food is plentiful - families do not have as many children to feed & clothe.
In 1930 the US population was 125 Million - today it is 300 million. We have more resources today - transportation - communication and medical technology...just to name a few.
There is no reason to panic or surrender to fear. We are Americans and we can afford to have faith, eat less, save more and work harder to overcome these adversities.
The cycle of circumstance and survival....
How kould you tell?
I wonder what repercussions that would have.
Nuclear weapons become available in the local bazaar, right along side the AK-47s hammered out of old C-rat cans?
Regards,
GtG
A guy who went through the Depression told me that people worked at factories who paid in scrip “to be redeemed later”. When WWII started and things began to pick up, the factories declared bankruptcy, making the scrip null and void, then reorganized and hired the same people, this time for wages.
"We are facing a depression that will rival that of the Great Depression of the 1920’s and may more closely resemble the Greater Depression of 1873."
"There are going to be stock market rallies within this bear market, and that will be the time for those still holding and hoping to get out before the bear really begins to claw in 2009."
"Before this secular Bear Market is over, we are going to new lows in all indices, more than 3500 banks will close, unemployment will surge, there will be violence in the streets and people will kill you to get what you have."
If Obama has his way this will be the new theme song for American industry: http://www.youtube.com/watch?v=NBkrAESUbyI
All is well.
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