World Financial Armageddon - By Accident?

[flying]

Entropy = measure of disorder: a measure of the disorder that exists in a system

Anarchy = absence of government

Anarchism =a political theory holding all forms of governmental authority to be unnecessary and undesirable and advocating a society based on voluntary cooperation and free association of individuals and groups

[unomi]

Original Poster linked to an excellent 40 year old article by Allan Greenspan that I think sheds light on one of the fundamental problems with the system that we have:

http://www.gold-eagle.com/greenspan041998.html

[teatree]

Conspiracy theorists always come out of the woodwork during times of crisis. In any case, we are indeed living in interesting times.

Actually, I came out of the woodwork in March of this year (topic - where is the US$heading to? p13) when I posted that in the near future there would be a complete collapse of the US economy, the death of the dollar and a push towards the NAU. When I wrote that post, even the mention that the US could go into a depression was enough to have people label me a tin foil hat wearing kook.

You have to admit that we have moved MUCH closer to what I said would happen than when I 1st said it in March.

[lannarebirth]

Conspiracy theorists always come out of the woodwork during times of crisis. In any case, we are indeed living in interesting times.

Actually, I came out of the woodwork in March of this year (topic - where is the US$heading to? p13) when I posted that in the near future there would be a complete collapse of the US economy, the death of the dollar and a push towards the NAU. When I wrote that post, even the mention that the US could go into a depression was enough to have people label me a tin foil hat wearing kook.

You have to admit that we have moved MUCH closer to what I said would happen than when I 1st said it in March.

Yes you did, and I forgot to thank you. Your post in March marked the bottom for the $USD.

[whatsoever]

Conspiracy theorists always come out of the woodwork during times of crisis. In any case, we are indeed living in interesting times.

Actually, I came out of the woodwork in March of this year (topic - where is the US$heading to? p13) when I posted that in the near future there would be a complete collapse of the US economy, the death of the dollar and a push towards the NAU. When I wrote that post, even the mention that the US could go into a depression was enough to have people label me a tin foil hat wearing kook.

You have to admit that we have moved MUCH closer to what I said would happen than when I 1st said it in March.

Anyone who couldn't see this coming is obviously lacking in the ability to use the right side of their brain. Sadly, this seems to be a disturbing number of people. Fact is many posters would be more than happy to be told - and believe - that all will soon get better and we will all return to living happily ever after. Those who are fed through the bought and paid for mainstream media speak and think in media soundbites. Which they actually think are their own thoughts.

Anything which is unpleasent to hear is mostly dismissed without investigation. Any mention of conspiracyis ridiculed (as programed) - as we all know that men never conspire

'To refute without investigation is the height of ignorance' - Albert Einstien

[thetravellingcat]

Conspire = to act in harmony toward a common end

roughly translated it means "to breath together"

It is events like this that bring forward consolidation, the strong buy the weak.

whether a one world government is planned or will just happen because of random events is anybody's guess.

It is my view that countries will unite in search of "security" and for pooling resources. Dwelling on any of these issues for too long isn't a good idea but if you think that food shortages will happen then just keep more than a weeks worth of food handy. One things certain, food prices will rise ahead of wages in the short to medium term and only last week did that loud wall street investor give a big vote of no-confidence in stocks and shares. Put money into secure warehouses and non-perishable food would be my advice.

read this last week:

See a Pattern on Wall Street?

Take a look at the two blurry images below. Can you see an object hidden in each one?

Before I give the answers, here’s another question: Do you feel a certain lack of control over events right now?

These questions are not unrelated, according to a report in the new issue of Science by Jennifer Whitson and Adam Galinsky. The researchers found that when people were primed to feel out of control, they were more likely to see patterns where none exist. They would spot an object in each of the images above, even though only the image on the right contains one (the outline of Saturn and its rings). If you thought you saw something in the image on the left, don’t be too hard on yourself — your feeling may be perfectly understandable given the chaos on Wall Street.

more here......

[AlexLah]

I think most people are not properly informed about what caused this problem.

In short, banks took on risky loans and insured them with help of AIG for example.

Causing these loans to be changed into an A++ rating.

And then they were sold on the stock market as good investments.

Customers defaulted and AIG could not pay out as they did not have enough money to cover the cost.

Credit default swaps they are called.

Alex

[lannarebirth]

I think most people are not properly informed about what caused this problem.

In short, banks took on risky loans and insured them with help of AIG for example.

Causing these loans to be changed into an A++ rating.

And then they were sold on the stock market as good investments.

Customers defaulted and AIG could not pay out as they did not have enough money to cover the cost.

Credit default swaps they are called.

Alex

Thanks for that Alex. I think I'm up to speed now.

[Jimjim]

Original Poster linked to an excellent 40 year old article by Allan Greenspan that I think sheds light on one of the fundamental problems with the system that we have:

http://www.gold-eagle.com/greenspan041998.html

Not to mention he is as much to blame as anyone for the current crisis.

An another note, who is that jingthing and what did he do with the real one? What happened to the guy who believed in conspiracy theories like Thais are culinary racists and farang are being made scapegoats for political problems in Thailand with one crappy movie?

[VegasVic]

Conspire = to act in harmony toward a common end

roughly translated it means "to breath together"

It is events like this that bring forward consolidation, the strong buy the weak.

whether a one world government is planned or will just happen because of random events is anybody's guess.

It is my view that countries will unite in search of "security" and for pooling resources. Dwelling on any of these issues for too long isn't a good idea but if you think that food shortages will happen then just keep more than a weeks worth of food handy. One things certain, food prices will rise ahead of wages in the short to medium term and only last week did that loud wall street investor give a big vote of no-confidence in stocks and shares. Put money into secure warehouses and non-perishable food would be my advice.

read this last week:

See a Pattern on Wall Street?

Take a look at the two blurry images below. Can you see an object hidden in each one?

Before I give the answers, here’s another question: Do you feel a certain lack of control over events right now?

These questions are not unrelated, according to a report in the new issue of Science by Jennifer Whitson and Adam Galinsky. The researchers found that when people were primed to feel out of control, they were more likely to see patterns where none exist. They would spot an object in each of the images above, even though only the image on the right contains one (the outline of Saturn and its rings). If you thought you saw something in the image on the left, don’t be too hard on yourself — your feeling may be perfectly understandable given the chaos on Wall Street.

more here......

You may think that the image on the right is of Saturn, but I am certain that many here on thaivisa see it as a spaceship

[VegasVic]

Conspiracy theorists always come out of the woodwork during times of crisis. In any case, we are indeed living in interesting times.

Actually, I came out of the woodwork in March of this year (topic - where is the US$heading to? p13) when I posted that in the near future there would be a complete collapse of the US economy, the death of the dollar and a push towards the NAU. When I wrote that post, even the mention that the US could go into a depression was enough to have people label me a tin foil hat wearing kook.

You have to admit that we have moved MUCH closer to what I said would happen than when I 1st said it in March.

teatree, Your post back in March also confirmed my hunch that the dollar had bottomed as Lanna has already posted! I am a contrarian investor and must thank the madding crowd for much of my insight and when the tin foil hatters come out and confirm a situatuion after the sheep have been herded, then I know its time to act and do the opposite of popular opinion Such a time is now, and this coming week I will be putting a good portion of my sidelined cash to work in U.S. equities Actually the clinching piece of evidence that a bottom has been put in on the DOW , was the fact that my barber told me that the U.S. is headed for a depresion for sure. Its kind of the opposite of the situation in the late summer of 1929 when a shoeshine boy tried giving Bernard Baruch a stock tip, Mr. Baruch knew at that instant that he needed to sell off all his investments BTW just for your information, while the commercial credit markets may have siezed up (this will be rectified soon) the U.S. economy is doing just fine, unemployment is in the low 6% range which is the historic average over the past 40 years and now that oil is coming back down to earth inflation is not a concern on anybodys plate , as a matter of fact deflation is far more likely threat! Oh I almost forgot, the dollar will continue to strengthen so you had better get use to it

[LaoPo]

Conspiracy theorists always come out of the woodwork during times of crisis. In any case, we are indeed living in interesting times.

Actually, I came out of the woodwork in March of this year (topic - where is the US$heading to? p13) when I posted that in the near future there would be a complete collapse of the US economy, the death of the dollar and a push towards the NAU. When I wrote that post, even the mention that the US could go into a depression was enough to have people label me a tin foil hat wearing kook.

You have to admit that we have moved MUCH closer to what I said would happen than when I 1st said it in March.

Where you wrote in this post: http://www.thaivisa.com/forum/Where-s-Us-H...29#entry1876729

"It's just a matter of time before the Amero is brought in, along with the North American Union. These will be pushed as part of a rescue package after the impending economic disaster has ripped through the US. How bad the crisis will be is still uncertain but the government is certainly preparing for the worst - google "Rule by fear or rule by law" co-written by an ex US congressman and published in The San Francisco Chronicle. Fema camps, martial law. Scary."

LaoPo

[Carib]

Yup, everything is fine.........

[LaoPo]

BTW just for your information, while the commercial credit markets may have siezed up (this will be rectified soon) the U.S. economy is doing just fine, unemployment is in the low 6% range which is the historic average over the past 40 years and now that oil is coming back down to earth inflation is not a concern on anybodys plate , as a matter of fact deflation is far more likely threat! Oh I almost forgot, the dollar will continue to strengthen so you had better get use to it

Over and over again, VV you really surprise the audience on TV...and that's an understatement:

Economic signs pointing down

Consumers, housing, factories all dropping further in September

By Rex Nutting, MarketWatch

Last update: 6:00 a.m. EDT Oct. 12, 2008

Comments: 236

WASHINGTON (MarketWatch) -- The U.S. recession has been nearly forgotten in all the anxiety about the financial meltdown in the past few weeks. For those who care about the fundamentals, however, the coming week will feature a lot of data about the economy, much of it rather depressing.

Source: The WALL STREET JOURNAL/MarketWatch:

http://www.marketwatch.com/news/story/econ...ecMostCommented

Read for yourself and tell us it's not true.

I could supply you with facts about the housing industry, the car industry, the retail industry, the manufacturing industry and I could go on but you say: "the US economy is doing just fine".....???

I'm flabbergasted and I wonder why you fool yourself and trying to fool others...?

LaoPo

[VegasVic]

Yup, everything is fine.........

Carib, While I enjoy your whimsical cartoons, the answer is yes everthing is fine for most Americans. Those lines of people might make for a great cartoon, but in reality there were no such lines because in the U.S. we know are deposits in the bank are safe even if the bank goes belly up the FDIC steps in and makes good. In real life however I have heard that in G.B. there were such lines at banks last week and they were all withdrawing their funds and moving them over to Irish banks

[Carib]

Vegas Vic, I think you are a victim of wishful thinking, now i don`t blame you for that, everybody needs to hold on to something, but it ain't very realistic to state that the US is doing fine now.

[VegasVic]

Vegas Vic, I think you are a victim of wishful thinking, now i don`t blame you for that, everybody needs to hold on to something, but it ain't very realistic to state that the US is doing fine now.

Carib, Perhaps you live in an area of the states that has been hit particularly hard and hence your view is a bit skewed I know that unemployment has jumped recently, (albeit to an historical post war average as I have pointed out) but the bulk of those job losses are in the financial sector and residential housing sector. I have a very large family and circle of friends and I am not aware of any of my relatives or friends that has lost a job or had a house foreclosed, but then again none of my relatives or friends went out at the height of a real estate bubble and bought a house that they couldn't afford! This crisis is a big deal on Wall Street and perhaps if it isn't adressed properly it will someday become a big deal on Main street, but so far I haven't noticed it! If you or your family were involved in the financial sector or the residential housing sector and lost their jobs then I certainly feel bad for you and hope things get better, but the average American still has his or her house and still have their jobs. The only possible common situation that has effected many Americans is that the market has been beaten down and their 401k's ammounts are lower, of course if they are smart they will not panic they will just continue contributing (or raise their contributions if possible) and in time the market will rise back up and their 401K will as well

[siamamerican]

Vegas Vic, I think you are a victim of wishful thinking, now i don`t blame you for that, everybody needs to hold on to something, but it ain't very realistic to state that the US is doing fine now.

Carib, Perhaps you live in an area of the states that has been hit particularly hard and hence your view is a bit skewed I know that unemployment has jumped recently, (albeit to an historical post war average as I have pointed out) but the bulk of those job losses are in the financial sector and residential housing sector. I have a very large family and circle of friends and I am not aware of any of my relatives or friends that has lost a job or had a house foreclosed, but then again none of my relatives or friends went out at the height of a real estate bubble and bought a house that they couldn't afford! This crisis is a big deal on Wall Street and perhaps if it isn't adressed properly it will someday become a big deal on Main street, but so far I haven't noticed it! If you or your family were involved in the financial sector or the residential housing sector and lost their jobs then I certainly feel bad for you and hope things get better, but the average American still has his or her house and still have their jobs. The only possible common situation that has effected many Americans is that the market has been beaten down and their 401k's ammounts are lower, of course if they are smart they will not panic they will just continue contributing (or raise their contributions if possible) and in time the market will rise back up and their 401K will as well

I don't think America is doing just fine, but we both think America will be fine with time. Unemployment is historically low, but it is far from stabilizing. Housing prices should continue to drop and unemployment will continue to rise. The rest of the world will feel the same pain and probably more of it. If the stock markets are any reflection of public opinion, investors in other countries are less confident in their respective economies.

If I had the type of money Buffet has to play with, I would be investing heavily in the markets around the globe. In the last 10 days , I have put a decent amount of money that I can afford to lose in the US and international equity markets, believing I'll be rewarded as time passes.

[Carib]

Vegas Vic, I think you are a victim of wishful thinking, now i don`t blame you for that, everybody needs to hold on to something, but it ain't very realistic to state that the US is doing fine now.

Carib, Perhaps you live in an area of the states that has been hit particularly hard and hence your view is a bit skewed I know that unemployment has jumped recently, (albeit to an historical post war average as I have pointed out) but the bulk of those job losses are in the financial sector and residential housing sector. I have a very large family and circle of friends and I am not aware of any of my relatives or friends that has lost a job or had a house foreclosed, but then again none of my relatives or friends went out at the height of a real estate bubble and bought a house that they couldn't afford! This crisis is a big deal on Wall Street and perhaps if it isn't adressed properly it will someday become a big deal on Main street, but so far I haven't noticed it! If you or your family were involved in the financial sector or the residential housing sector and lost their jobs then I certainly feel bad for you and hope things get better, but the average American still has his or her house and still have their jobs. The only possible common situation that has effected many Americans is that the market has been beaten down and their 401k's ammounts are lower, of course if they are smart they will not panic they will just continue contributing (or raise their contributions if possible) and in time the market will rise back up and their 401K will as well

I don't live in the states Vic, although I have worked there for some time, on and off.

You say that your friends didn't buy anything they couldn't afford, which I think is a smart thing to do. But lots and lots of others live by their credit card and a mortgage they cannot afford. It is the American way you cannot deny that.

They are the ones paying the price for this whole situation, and if you by chance do work for a bank or a car manufacturer or ..or..or.........you are done.

I don't get any pleasure out of this, yes I post a pic or two, just to show the irony of the whole situation.

I most certainly am not going to spend hours of typing about something what was bound to happen one day. All the ones " in the know" don't know how, and what, and why. I have seen all the statistics and references here , from every `guru` around, but nobody knows, and nobody saw it coming.

And right now nobody really knows what to do. But one thing I do know now Vic, and that is that you are a little bit to patriotic in defending America and the dollar and the whole situation.

I hope you are right, the sooner this is over, the better. But in my view it ain`t going to be soon, and it will cost a lot more, in money and human suffering too.