The Coming Financial Catastrophe

[Aquarius Profile]

I tried one a while back along the lines of "Asians Tigers ready to pounce", and i got called a racist for it..lol

Funny shit.

posts like this are almost too much to really digest anyhow ive found, because the implications are sooo dire

Of course, you're right. Doom mongering gives me a bad taste in my mouth and yet I get tangled in it's web. My bad

[Lowsix Profile]

I tried one a while back along the lines of "Asians Tigers ready to pounce", and i got called a racist for it..lol

Funny shit.

posts like this are almost too much to really digest anyhow ive found, because the implications are sooo dire

Of course, you're right. Doom mongering gives me a bad taste in my mouth and yet I get tangled in it's web. My bad

GFOL nonsense, and the 2012 fearmongering is one thing.

Real world..as in Today-RIGHT NOW..kinda shit falls into a different category of "Valid Information" to me.

I didnt mean to imply that posts like this, based on facts, figures numbers and trends that are operating under the headlines at this very moment were fearmongering in any way, but i mean as far as a readers tendency..

Talking about the world ending in 2012 becuase some ancient Maya said it, or aliens harvesting body parts is scary in a sense but it is way more fun than talking about Warren Buffet being scared shitless...because there is no fantasy in that. If warren is spooked, we should all be spooked.

Most of us are here for the fantasy.
(myself included)

Dont stop ringing the bell when you have a valid reason to do so..
so you didnt get tangled...you're concerned.

Stay the course.

[Boondox681 Profile]

[quote]Goldman Sachs[/quote

see:bernanke,gietner and sommers.

[Xxsparklexx Profile]

THERE!

I got it.

JERSEY DEVIL CAPTURED IN A CAGE!
WITH PHOTO PROOF.

everyone will at least OPEN it....lol

I was Google'ing "Jersey Devil" and ended up on this page...
Thanks for nothing Low

On a more serious note...
I've been following the financial system for some years now and read quite a few "predictions" and "end-of-the-world" articles...
To make a long story short : I possess some China stocks, have cash for a month or two, have some physical gold tucked away and stocked up on some food and water (which I feel pretty ashamed by, especially since I warned a friend about a year and a half ago to do the same... only to see nothing happening )...

I'm still pretty sure things will get nasty...
What's happening in Greece right now is merely the foreplay for a similar situation in Belgium (if you look at debt) and after those two fall, the rest of Europe's economy will probably be wiped out too (Spain already has 20% unemployment..).

On the other part of the world... the US of A seem to be way over their time limit for a financial collapse...

It all depends on who's going to be first to admit they're virtually broke, because right now everyone's pretending nothing bad is going on.
"We're not broke ! Look at all the fresh paper money we have printed !"

Is there something we can do or should we remain sitting on the fence... ?
Although I have taken measures, I still feel it's utterly futile.
Because when the shit hits the fans for real (words used a lot the last years) chaos will run the streets so fast, you'll probably flee from your house (if you live in a very crowded area like I do) with whatever you can get a hold of (in my case that would be cash and gold).

I mean, just look how easily our "decent" society turns into a pack of raging wolves, when confronted by some major disaster : New Orlean, Haïti (to name but a few)...
In reality, if the SHTF, it will be a genuine survival of the fittest (or smartest).

Since I have no guns or ammo (this is Europe after all ), I'd better be smart

All future-projecting aside, the only things I try to do is relax and have a good beer now and then, because I'll probably be the first one to get shot when chaos erupts (look : he's got cash and gold ! )

Any thoughts ?

[Reinaul Profile]

Economic Review February 17- February 24:

barton-biggs-head-for-the-hills-t16423.html

[Reinaul Profile]

Second Nationwide Strike Paralyzes Greece

Niki Kitsantonis
The New York Times
Wed, 24 Feb 2010 14:09 EST

Flights at Greek airports were canceled, public transportation was halted, and schools closed Wednesday as public-sector employees and private-sector workers walked off their jobs in the second 24-hour strike in two weeks against austerity measures.

The government is under intense pressure to plug a budget deficit that equals 12.7 percent of gross domestic product and to avert the first national default among the 16 countries that use the euro.

The day was largely peaceful, though police officers fired tear gas to disperse around 50 young demonstrators who pelted them with stones and paint near the Parliament building in the city center. They were part of a crowd of more than 20,000 who marched holding banners reading "tax the rich" and "hands off our pension funds."

At the same time, government officials and representatives of the European Commission, the European Central Bank and the International Monetary Fund were discussing the imposition of additional measures to reduce the national debt - now more than $400 billion - and increase revenue. But the strike included journalists, effectively creating a media blackout that kept Greeks in the dark about any progress.

Greece has already announced wage freezes, bonus cuts, tax crackdowns and pension reforms over the past month meant to save some $6.7 billion.

The new measures, which the government has not yet confirmed but are expected to be announced next week, include a 2 percent increase in the 19 percent value-added tax, higher fuel prices and the possible abolition of one of two additional months of pay received by public-sector workers and by employees at many private firms.

"What else are they going to cut, the air that we breathe?" said Kiki Oikonomou, a 47-year-old administrative employee at a state school for disabled children. "This is like a jail sentence. Where's the hope?"

According to Paraskevi Androni, 26, an unemployed engineer whose short-term contract with the privatized state carrier Olympic Air expired recently, the abolition of the extra pay would bring misery to workers and businesses alike.

"People rely on this additional wage to pay for basic needs," she said. "If it gets cut, people will stop spending and even more small businesses will close." As for her own employment prospects, she said "I try to be optimistic but I'm worried about the future."

Another engineer milling in the crowd before Wednesday's march said he believed many more protests would follow. "If people see the minority living a good life and their wages plummeting, they're going to take to the streets," said Haralambos Dramantis, a 60-year-old employee with the state power board. "We haven't seen the big uprising yet but it will come."

He added that strikes by farmers, tax collectors, customs officials and others in recent weeks were "just the beginning."

Addressing a sea of protesters from a lectern bedecked with a banner reading, "People and their needs above the markets," the head of main labor union encouraged public resistance to the government's austerity measures. "We refuse to pay the price for a crisis that we didn't create," the leader, Yannis Panagopoulos, said.

He added that Greece has become "a Ping-Pong ball in a game being played by global speculators," a reference to the financial markets.

The strike came a day after the international credit ratings agency Fitch downgraded Greece's four largest banks on fears that Greece's efforts to bring down its deficit through austerity measures would reduce demand for loans and curb bank profits.

"It is clear," said Giorgos Lakopoulos of Ta Nea, a center-left daily, that European Union officials "do not believe the austerity measures heralded to date are adequate to reduce the deficit by four percentage points this year."

"They want more," he said.

http://www.sott.net/articles/show/20351 ... zes-Greece

[Xxsparklexx Profile]

http://news.scotsman.com/world/Greece-wants--Nazi-gold.6102255.jp

The "blame-game" is taking another turn...

Perfect timing to remind Germany about their past...

Guess that'll open up another jar of love and happiness

[Svaha Profile Website]

I read the entire article, interesting but nothing new there, I see no real solutions mentioned.
Continuing this system will inevitable lead to war, a world war, that's the only way to get rid of the 'surplus' people, or work units and total enslavement of the rest.
This is what I see as 'the plan' that will be executed as long as people are fighting with each other.
As 'you' can read governments are no longer there for the people, they are owned by a few and are there for the few, so no help available there.
The monetary 'system' we have now will always lead to a collapse, same as all other systems, material and social, ending in an incrementing infinite spiral.
That's why a solution can not come from the top, must come from the bottom of the pyramid.
There will be chaos because nature / live is heading that way, before the new world can emerge the old one will be destroyed.

So there is no need for war.
Nature / the earth loves its creatures unconditionally, without judgment, makes no difference.
The solution is, as I see it, that people get together again in smaller communities, back to nature, stop looking outside, start connecting to Self again.
Connecting to Self is necessary because part of the natural process is the destruction of the ego.
The time frame? Yesterday.

[Sceptilief Profile]

My bank charged me interest fees on my overdrawn account (even though the bad cheque went back Insufficient Funds and no one got the money), than proceeded to up my service fees and overdraw my account monthly on those service fees, which they then had the audacity to charge further interest on.

Considering I am financially destitute and have little in physical possessions left after a difficult 2009, I am no longer playing their game and I have taken away their supply of money by not paying them (not that I have the full balance they demand all at once anyways). I would suggest many of you do the same, if you have any sense to make an impact in the world that this article is describing. And that's by cutting off this monster's food supply.