Second Financial Crash Coming ...

60 Minutes ^

[UncleVanya]

Even 60 Minutes forecasts a major second crash. The fake Obama "bailout" with massive debt, printing money, "cap and tax," healthcare takeover, increasing the debt limit, giving Fannie Mae and Freddie Mac another "open season" on taxpayer money ... are setting us up for even worse.

[cranked]

And Barry, the White House, and the Dems will surely being proclaiming it was Bush’s fault........

[MeneMeneTekelUpharsin]

Simply don’t believe it any more. They’ve managed to pull every trick in the book to keep things going so far. We could keep going like this for another 20 years and I’ll be dead by then. So what....?

[AlexW]

“The commercial land bubble has yet to bust. “

Gerald Celente, who has been right on track, has been saying this all year.
Apparently many commercial real estate mortgages are annual,
and due in January. Many of these are retail and other mall properties that are in deep water.
This should be when the big crash gets underway.

[Digger]

Let’s have CURRENT news - this is a yr old.

[jonrick46]

The Obama regime and his neo-Keynesians have not learned from history. FDR tried to spend ("pump priming") our nation out of the Depression. As long has he spent money, the New Deal improved the economy. However, when spending fell, the Depression deepened. The economy was not able to increase any more than the government was able to spend. And with increased spending, there is the pressure to increase taxes. It was and will always be the wrong strategy. Only by giving the producers of wealth the opportunity to create more wealth without regulatory costs and taxes, will we grow the economy out of this Depression.

A 1934 cartoon:

[Myrddin]

Apparently many commercial real estate mortgages are annual, and due in January.

I'm at home in Pocatello this week. I've noticed quite few businesses that are essentially announcing they plan to go out of business at the end of this month. They won't be renewing a lease. There is also the local mall. They have lots of temporary leases for November/December to catch holiday buyers. They disappear at the end of December. The mall management is going to have a bunch of vacancies in a week.

[grey_whiskers]

Merry Christmas, FRiend.

[TheThinker]

CBS is just warning the libs who are out of the loop.

[Myrddin]

Merry Christmas! Thanks for the multitude of interesting posts this year. I'm headed back to San Diego to keep earning a paycheck Sunday or Monday. I'm still seeking opportunities that will bring me home instead of working 930 miles from home. For now, I'm thankful to be employed.

[Semperfiwife]

That cash will be worthless when hyperinflation hits. We possess a bill from Zimbabwe for $500,000,000.00. It is worth 37 cents. This too will happen here, they are printing so many dollars.

[lowbridge]

I’ve been using that for my tagline.

[AlaskaErik]

Ok, my retirement is all in the S&P 500. Where should I put it? I have very limited choices.

[Blonde]

Time for another round of George Soros Bingo on our money. Guess he didn’t make enough the first time around.

[SkyPilot]

That story is a year old. Not saying it won't happen, but why are you posting old news items?

Would you like an update into the Ken Starr investigation?

[mulligan]

THIS MESS HAS BEEN COMING ON FOR DECADES AND IT WILL TAKE YEARS AND MUCH PAIN TO CORRECT.

[Cacique]

btt

[UncleVanya]

It’s pertinent now, because it’s about to happen. Treasuries are weakening, mortgages are getting ready to reset in droves, joblessness still stinks (don’t look at U2, U6 and U7 alone, look at what the commercial payroll services show), inflation is primed and ready, we’re trillions in debt, and nobody in the world except Marxist Obama and his stooges Reid and Pelosi believe that the “healthcare reform” is going to produce savings. Old news? It’s just getting current.

[UncleVanya]

PS, plus the Christmas shopping was premised on give-away sales. Expect more stores to close, commercial real estate to start going bust. Experts in Southern California, Phoenix area and others are watching the rental market plummet. The overall effect of this and the above may, in fact, be what Obama and his shadow masters really want. Whether they do or not, this is as current today as it was some months ago.

[SkyPilot]

Thanks. I agree we are in a world of hurt (economically). I would appreciate any news story that factors in current events (unemployment numbers, interest rates, etc). I like the 60 minutes piece, it's just that I watched it 12 months ago.

I could use a more current perspective.

[UncleVanya]

BTTT - excellent contribution. Thanks.