USA was 3 hrs away from Economic, Political Collapse... last Sept.

POSTED BY: pizmobeach
UPDATED: Tuesday, August 4, 2026 11:44
VIEWED: 42658
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SERGEANTX

Thursday, February 12, 2009 3:35 PM

I have to agree with Hero. This is yet another attempt to push through otherwise unpalatable institutional change with scare tactics. It's the flipside of the Patriot Act, liberal style! Looks like it's the new politics - scare 'em and screw 'em.

SergeantX

"Dream a little dream or you can live a little dream. I'd rather live it, cause dreamers always chase but never get it." Aesop Rock

SERGEANTX

Thursday, February 12, 2009 3:38 PM

argh. dp

PIRATECAT

Thursday, February 12, 2009 3:48 PM

The signs are all around us. Scanning the air waves of Britain and Ireland. Exact same thing is happening there. Bailout, more bailout, bonuses, and layoffs. This is not 87. This is totally different you can feel it. Go to a Home Depot. Well Wal-Mart is still busy. We had a run on gas in Tennessee. Urban unrest this summer. Already started in southern europe. Now your gonna see famine in Pakistan, then spread to India, and then into China. Could be anything a blight what have ya. Its fragile right now. If we get through summer will go another year of hard times before it clears.

"Battle of Serenity, Mal. Besides Zoe here, how many-" "I'm talkin at you! How many men in your platoon came out of their alive".

RUE

Thursday, February 12, 2009 4:16 PM

"Urban unrest this summer. Already started in southern europe."

Europeans actually demand a benefit from their government, their society and their economy. They are unlike people in the US who are so beaten down by rampant capitalism they feel grateful to get tinkled-on.

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Silence is consent.

PIZMOBEACH

Thursday, February 12, 2009 5:04 PM

Quote:
Originally posted by Hero:
Quote:
Originally posted by NewOldBrownCoat:
How come nobody else anywhere respectable has reported this?

Because its a load of crap. At best its part of the continuing effort to scare up stimulas support by ignoring the last fifty years and pretending we're looking at the worst economy since the great depression. At worst its crazytalk.

So they picked this guy as their front man for this? Think they'd have picked someone better known, and a different look...

at least a better venue, like one a lot of people would see.

NEWOLDBROWNCOAT

Thursday, February 12, 2009 5:04 PM

Quote:
Originally posted by Hero:
Quote:
Originally posted by NewOldBrownCoat:
How come nobody else anywhere respectable has reported this?

Because its a load of crap. At worst its crazytalk.

H

I thought so too. Just too polite to come right out and say it

Did some further searching last night.

Conde-Nast Publishing has a nice piece showing that it didn't happen, with stats and numbers. I'm too lazy to actually go back and check the record, but I believe them. They wouldn't fake something that easy to check.
This guy Kanjorski turns out is chairman of the Financial Services Comittee or some such- the folks that have been grilling the Treasury Secretaries and Bankers. He questioned Paulsen just days later. He's the guy questioning the Bankers the other day. He went after Obama's guy a couple of times in hearings Never emntioned this again.

And ElRusho did mention it- found a link to his official site- but ya gotta subscribe to view what he had to say. I ain't gonna give that fat hoon-dahn any money just to have him link to the same video clip.

RUE

Thursday, February 12, 2009 5:46 PM

"Because its a load of crap. At worst its crazytalk."

And yet - the Federal Reserve did increase bank guarantees to $250,000 and the major banks are truly insolvent. (see Roubini article, above)

So there you have it - the banking system has already failed, and the only thing keeping it going are the people who are keeping their money there. At present the failure is invisible. If there shoud be a run on the banks in any form, it will all come apart in a visible way.

BTW - a lot of the economy is about confidence, where the word con comes from in the phrase 'con-man'. If people lose confidence in the banks, the currency, or the economic structure then those things which have value due to common agreement lose all their value. And that includes gold, since gold has about as much use-value as lead or argon. Something Midas mythically found out centuries ago.

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Silence is consent.

HERO

Thursday, February 12, 2009 6:34 PM

Quote:
Originally posted by rue:
And yet - the Federal Reserve did increase bank guarantees to $250,000 and the major banks are truly insolvent. (see Roubini article, above)

So there you have it - the banking system has already failed, and the only thing keeping it going are the people who are keeping their money there.

I note for the record that the only thing that EVER keeps the banks running are the people keeping their money there.

Banks failed. The banking system was in the process of self-correction. The FDIC guarantee was modified to protect capital while the system righted itself. That way if a bank went under due to the mortgage and credit crisis, the FDIC could take it over and then resell the bank to another bank, leaving depositers intact but with liabilities removed or minimized. Its why Citibank suddenly had branches in Columbus after last November...they bought a failed bank from the FDIC after TARP had stripped away its toxic assets.

H

SIGNYM

Thursday, February 12, 2009 6:45 PM

Quote:
Because its a load of crap. At best its part of the continuing effort to scare up stimulas support by ignoring the last fifty years and pretending we're looking at the worst economy since the great depression. At worst its crazytalk

The guy who predicted this, Dr Roubini, was hailed at Davos as having extraordinary vision. He's not a craptalker (like you). He knows a thing or two which support hs opinions.

You?

You're an ignorant pissant not worth any more of my time.

www.rgemonitor.com

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It's the end of the world as we know it, and I feel fine.

RUE

Thursday, February 12, 2009 6:49 PM

"I note for the record that the only thing that EVER keeps the banks running are the people keeping their money there.
Banks failed. The banking system was in the process of self-correction."

Not really. The entire banking system worldwide is precarious, and it's not a matter of one bank, or two - but of them all going down, like dominos.

And the only thing holding the entire SYSTEM up now - is people too stupefied to notice.

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Silence is consent.

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