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Current news below
THIS IS BASED ON 50 YEARS CYCLES AND WAS SHOWN TO ME LAWRENCE HARMEN = ABBA'S WATCH MAN IN YEAR 2000!
This was copy righted in 1992 and was written by Ehor Mazurok ... Look familiar !!! Get ready for the tribulation period or the mother of all depressions ! This graph can't take into account the soon to come nuclear attack which involves the whole world ! We are about to see a U.S. Economic disaster .
2 Timothy 1:7 For God hath not given us the spirit of fear; but of power, and of love, and of a sound mind. This information is stressful so come read when you feel strong as these wicked people who are doing all this by design want to cause you to fear because stress is a great immune system destroyer so be strong do not fear and come only when you are strong but tell others to come as well. Weak people are easily controlled.
You had better start buying food and storing it fast
If you can not see the global disaster forming =
Then don't buy food and get your self ready to take the E commerce Invisible bar code tattoo TO BUY AND TO SELL = E COMMERCE = Mark of the beast. Feast or famine the wise always prepare.
God's children live by faith not by fear as we asked the spirit of God into our hearts. These people are selling fear through so many articles but we are definitely on the door step of a disaster ! The freemasons who rule like to tell us what they are planning hoping we will ignore them ! They are getting ready to destroy the global economy .. Very likely at Damascus nuclear destruction.
House votes to permit $1.9 trillion more debt - Feb 4
U.S. government close to debt ceiling - Feb 3 Treasury said it is working closely with Congress to raise the ceiling. The Senate has approved legislation to increase it by $1.9-trillion to $14.3-trillion. A ceiling that high would equal about $45,000 for every American. The House is expected to vote on the increase Thursday.
I warn all to be very aware of next week Feb 7-14 as Egyptian military sources have exposed the U.S. and Israel are moving into positions to launch this massive Nuclear war which will bring on Project Blue Beam and it happens during a time when great famine begins to come to pass so keep your eyes open as we are about to see the global economic collapse soon... maybe Tuesday . The wise prepare for evil when they see it coming but the simple do not.
FED GAVE Banks Access to 23.7 TRILLION DOLLARS NOT $700 Billion! - Feb 2
California controller: State will run out of cash before April - Jan 31 State Controller John Chiang issued a stern warning Friday about California's cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March — or the state will run out of cash to pay its bills. Even with the budget cuts, the state's cash reserve would still be far below that cushion in March and April. To that end, Chiang is calling for an additional $2 billion in cash-flow "solutions." Looking at previous cash crunches, that could mean some payments, like income tax refunds, would be delayed for a few weeks to keep the cushion intact. This economy is the 10 largest in the world beating out Canada and even Russia .... what impact do you think it will have on the entire world if it collapses ....as it is about to. War with Iran and Syria looks to be planned for the week during the coming Olympics Feb 12 - 28 See my home page at the top for more proof of this.
Crash prediction of 2010 by the mason insider Gerald Celente This man has not been wrong yet because he is on the inside! Start buying food and prepare for the coming global economic crash.
Funds flee Greece as Germany warns of "fatal" Euro zone crisis - Jan 29
Senate permits gov't to borrow an additional $1.9T - Jan 28 The
Democratic-controlled Senate has muscled through a plan to allow the
government to go a whopping $1.9 trillion deeper in debt.
Trailer shipments hit 32-year low in 2009 - Jan 25 Truck trailer shipments dropped to levels not seen since 1975, according to figures compiled by ACT Research Company of Columbus, Indiana.
A smart person would sell there Gild and guy seeds and Food as they will soon be worth far more than gold . This finding could become the vehicle for the coming crash. The Freemason Mafia could expose this and make a killing from the crash. Massive inflation would follow.
A recent
discovery — in October of 2009 — has been suppressed by the main
stream media but has been circulating among the “big money” brokers
and financial kingpins and is just now being revealed to the public.
It involves the gold in Fort Knox — the US Treasury gold — that is the
equity of our national wealth. In short, millions (with an “m”) of
gold bars are fake!
December deficit nearly doubles - Jan 13 The U.S. government posted a deficit of $91.9 billion in December, nearly double the shortfall of a year earlier and marking the government's 15th straight month in the red, the Treasury Department reported Wednesday.
2 links below and you will see 4 trillion in bailouts and here we can see were the money is actually going !
In a nutshell, for every home now in a foreclosure sale, there are 5 more in the pipeline headed for the marketplace, and when they all get there, prices will crash.
Prominent financial futurist
Gerald Celente calls what the oligarchic collusion of government and
banksters are doing to the American public as economic rape. Bailout
overseer and Harvard law professor Elizabeth Warren calls it reckless
gambling. After the year of the world’s largest transfer of wealth
from US taxpayers to banksters, Congress is telling the US taxpayers,
“TARP off,” by guaranteeing the banksters another $4 TRILLION next
time they claim they’re holding the US economy hostage. The bill also
limits debate to 10 hours, which could be eagerly construed to mean no
hearings.
Arizona's Coming Government Collapse - from Governor Jan Brewer - Dec 23 We face a state fiscal crisis of
unparalleled dimension – one that is going to sweep over every single
person in this state as well as every business and every family.
That is why I held an emergency cabinet meeting yesterday morning
where I outlined for our state’s elected leaders and business leaders
the ills our state faces. As I told them yesterday, we ARE faced with
some of the worst days in our 97-year history.
Nightmare for arrow drivers compliments of the freemason owned business - Dec 23 Order through Chaos is the devil worshippers motto and we can see their handy work here! On Tuesday, as many as 1,400 truck drivers for Arrow Trucking Co., based out of Tulsa, OK, have been frantically trying to figure out their next moves as the company unexpectedly announced it was “suspending all operations” that day. Truckers started calling in to the Owner-Operator Independent Drivers Association and Land Line after they were awakened with phone calls from their dispatchers alerting them to the grim news that the company was shutting its doors and that their instructions were to turn in their trucks to the nearest Freightliner dealership. However, no instructions were given for drivers of International trucks. One OOIDA member told Land Line on Tuesday, Dec. 22, that he had a bad feeling this was coming down the pike when his fuel card didn’t work at a truck stop the previous night. As of press time, the company driver, who didn’t want to be named, was stranded at a Freightliner dealership in Roanoke, VA, because he didn’t have enough fuel to make it to his delivery in Maryland. “The dealership has been really good to me and said I could stay in the truck tonight since the bus headed home has already left for the day,” he said. He said he had tried to call his customers to alert them to the situation. He said Freightliner staff also volunteered to make phone calls on his behalf regarding his load of vinyl fencing. OOIDA Member Tim Tucker of Cedartown, GA, was in Los Angeles, CA, when a fellow driver called him with the news. He said he was “still in shock” because he had only been with the company for three weeks and had yet to receive a paycheck from Arrow. All he had received so far was approximately $40 in orientation pay, which he used to buy groceries. At press time, Tucker was on Interstate 10 headed to Phoenix, where he has been instructed to turn in his truck and trailer. “I really don’t know what to do or what to think right now,” he said. “Unfortunately, I only have a few hotdogs and a couple cans of soup left to get me back home to Georgia.” Stephanie Ortega, who works in the Fleet Services department at Daimler, said she found out when she arrived at work Tuesday morning that Arrow Trucking was shutting its doors and about the company’s plan to help get Arrow’s drivers home. She was instructed to tell drivers to drop their vehicles off at the nearest Freightliner dealership and to leave their keys with an attendant there or at a truck stop if they are out of fuel. Ortega said drivers are asked to then call Daimler at 877-294-9679 and she and others there “can get them a bus ticket through Greyhound or the company will reimburse up to $200 for alternative transportation costs.” However, one drawback to the plan is that drivers are on their own to find transportation to a local Greyhound station once they have surrendered their trucks. “If they can get themselves to a local Greyhound station, we will get them a bus ticket and get them home,” Ortega told Land Line. Bonnie Bastian, media relations manager for Greyhound Lines Inc., said she was made aware of the circumstances surrounding Arrow drivers around 3 p.m. today. She said while Greyhound’s commercial sales department is going to be “fulfilling orders,” Daimler personnel will be handling the ticket arrangements to get the drivers to their destinations. For Tucker, he said as of yesterday his dispatcher was still trying to get him a load going home so he could be with his family for Christmas. He said he was surprised when he heard the news because Arrow Trucking was still hiring drivers, including him, in early December, so he assumed they were doing OK financially. “I am still in total shock. I just don’t know what to do,” he said.
China: 'The world does not have Money to buy more US Treasuries'...- Dec 20 Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their value, and markets always watch any such comments closely for signs of any shift in how it manages its assets.
Moody's Warns U.S. Could Lose Triple-A Rating - Dec 20 Credit rating agency Moody's (MCO) said Tuesday that the United States, along with 16 other countries, could lose their Triple-A credit rating if fiscal deficits and heavy debts are not effectively managed.
U.S. National Debt Tops Debt Limit - Dec 16 The latest calculation of the National Debt as posted by the Treasury Department has - at least numerically - exceeded the statutory Debt Limit approved by Congress last February as part of the Recovery Act stimulus bill. The ceiling was set at $12.104 trillion dollars. The latest posting by Treasury shows the National Debt at nearly $12.135 trillion. A senior Treasury official told CBS News that the department has some "extraordinary accounting tools" it can use to give the government breathing room in the range of $150-billion when the Debt exceeds the Debt Ceiling. One has to wonder if those "extraordinary accounting tools" would be characterized by most honest accountants as "cooking the books"
U.S. Must Control Debt “Or Face Possible Panic in Financial Markets" - Dec 16 The U.S. government must craft a plan next year to get its ballooning debt under control or face possible panic in financial markets, a bipartisan panel of budget experts said in a report on Monday.
Remember now how the fed bailed out bankers have threatened a systematic collapse if this audit goes through ...clearly to be blamed on Saturday sabbath born again Christians by design as Ron Paul is a Jesuit/Freemason himself = Wolf disguised as a sheep.
Insiders Quietly Sold 82x More Stock Than They Bought - Dec 11
Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash - Dec 10 In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.
U.S. Foreclosures to Reach 3.9 Million in Second Record Year - Dec 10 Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said.
Arab markets start to crash, Israel unaffected thanks to boycott - Dec 1 Arab markets drop 10% But Dow mysteriously moved up to record high today = U.S. markets are in total disconnect from reality. The bad guys have total control of the markets so get out now before you loose the farm and your shirt.
The Bankruptcy of the US Is Now Certain - Nov 30 Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that's not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That's an amount equal to nearly 30% of our entire GDP. And we're the world's biggest economy. Where will the money come from? As history has shown us they either declare bankruptcy or go to war !
UAE to back banks amid Dubai meltdown - Nov 29 Here They are warning of a crash Monday (Black Monday fears) List of Black Mondays - Wikipedia, the free encyclopediaWe have to according to scripture see the global collapse begin before Damascus destruction so it just could happen Monday before the prisoner release.
Keiser on 'Tsunami alert': Dubai debt crisis awakes storm? - Nov 27 Dubai's troubled economy causes share crash Nov 2009 - Nov 27 This event is timed for the Muslim Holiday so as to get no answers from the people in the so called know hummmmm... why ? Clearly another fear inducing event pre Iran and Syria's Nuclear attack by the U.S. and Israel coming soon .,..possible directly after this prisoner release any day now .
Dubai Balks at Debt Payment, Rattles Global Markets - Nov 26 Stock markets in Germany, France, Spain and Italy were all down about 2pc in early afternoon trading as investors retreated from riskier assets. Investors spent the morning digesting the news that Dubai World, the government investment company with $59bn of liabilities, is seeking to delay repayment on much of its debt. Price for European government bonds rose as investors moved money into safer assets.
“Dubai isn’t doing risk appetite any favours at all and the markets remain in a vulnerable state of mind,” Russell Jones, head of fixed-income and currency research at RBC Capital Markets, told Bloomberg. “We’re still in an environment where we’re vulnerable to financial shocks of any sort and this is one of those.” The credit default swaps, instruments investors use to protect themselves against a borrower defaulting, linked to Dubai’s debt jumped more than 100 basis points to 571. Fears over Dubai’s finances rippled out to a host of other emerging-market assets, including Russia’s Micex stock index and Vietnam’s currency.
China banks' rush for billions could trip markets - Nov 25 Chinese banks, under government pressure to shore up their finances, are set to unleash a wave of billions of dollars in capital raising that could strain equity markets but also spur innovation in debt instruments.
Bank 'problem' list climbs to 552 - Nov 24 Despite the frenetic pace of bank failures this year, 552 lenders are still at risk of going under, according to a government report published Tuesday.
You add the war with Iran and Syria within weeks directly after prisoner swap this Friday and all the bankers will go on holiday (close their doors). We will soon see the 1000 banks fail this year as predicted in the news earlier this year.
Red Alert - The Second Wave of The Financial Tsunami - Nov 22 Lots of Red alerts but we will soon see the War on Iran and Syria that will in one day bring a disaster to the world economy so you need to start buying food now. See the World news link for the latest news.
Banks face major commercial real estate storm - Nov 19
Top Eurobank prepares for 'global economic collapse' - Nov 19 Global collapse over the next two years ! Just add the nuclear attack on Iran and Syria and down she comes in one week.
Video: Falling U.S. Dollar: It’s Lack of Demand, Not Rising Supply, Says Dow - Nov 17 In the following video Mark Dow a hedge fund manager at Pharo Management talks to Tech Ticker about the falling dollar and how the Federal Reserve is impacting the dollar’s value...
Nine U.S. States Face California-Type Budget Crisis, Pew Says - Nov 13 At least nine U.S. states face similar fiscal strains brought on by the global recession as those that left California on the brink of insolvency four months ago, according to the Pew Center for the States. Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin are dealing with declining tax revenue, resurgent deficits and increasing unemployment and home foreclosure rates, the center, a public policy research group, said in a report. All but New Jersey, Illinois and Wisconsin also have been hampered by a rule requiring a two- thirds legislative vote to approve tax increases, the report said.
Shocking numbers: Real unemployment tops 22%
Barclays: Commercial Mortgage Delinquencies Soar - Nov 4 Delinquencies in commercial mortgage-backed securities (CMBS) accelerated in October, according to a report from Barclays Capital (BarCap). The 30-plus day delinquency rate jumped 41bps to 5.5% in October as current loans deteriorated and transferred to special servicers.
David Estulin Says G-20 Meeting in Scotland this Week about Dumping U.S. Dollar Best-selling author Daniel Estulin states that the key issue to be discussed this week at the G20 Finance Ministers and Central Bank Governors Meeting, being held in St. Andrews, Scotland, is how to bring down the present world financial system through dumping the US dollar. Estulin first reported on this initiative as being deliberated at the most recent Bilderberg meeting held in Greece in May 2009. Estulin says that the success or failure of this callous plan hinges on the ability of the US and UK representatives to convince the Russian, the Chinese and other national governments to go along with their scheme. Estulin maintains that if the co-conspirators succeed, such sudden devaluation of the US dollar would result in the sinking of the world economy through a chain-reaction collapse of the entire world’s financial system. As discussed during the Bilderberg Group’s super-secret conclave back in May, this breakdown would then be used as an excuse to launch a new world monetary system. G20 leaders are aware that those who run the monetary markets, the monetary system, control the world. That is why today, the world is run through a dominant one-currency monetary system and not by national credit systems.
A severe breakdown crisis would affect every corner of the world and be a prelude to instability, wars and general hostility along financial, geographical and geopolitical lines, affecting not only particular countries but also societies, cultures and whole continents. Such a breakdown could result in a consolidation of the world’s monetary system. Estulin declares that the creation of the new world currency is the true meaning of globalization, which is nothing but an empire. It is the elimination of the nation-state, the degradation of individual national liberties and the depredation of civil rights. Collapsing the US dollar, first of all, is an assault on the structure of the United States economy toward the creation of a “World Company.” This concept, Estulin states, was initially discussed at the April 1968 Bilderberg Group meeting, held in Canada at Mont Trembland, by George Ball, a senior Lehman Brothers banker and former undersecretary for economic affairs for Presidents John Kennedy and Lyndon Johnson. The aim of this World Company, as explained by Ball was “to eliminate the archaic political structure of nation-state” in favour of the more “modern” corporate structure. Ball also called for further political integration in Europe, and then the rest of the world, as a precondition for expanding the power of a World Company, thus putting the financiers on the same levels as governments. This initiative, the moving away from the US dollar as a world currency, is the true intention of the G20 meeting November 6-7 at St. Andrews in Scotland, the site of the 1998 Bilderberg conference, Estulin asserts.
India dumps dollars for IMF gold - is China next in line - Nov 3 The IMF announcement yesterday that it had sold virtually half of its planned 403.3 tonnes of gold, destined to increase its resources for lending to low-income countries, to India came as something of a surprise to the market. Not perhaps that a Central Bank had made the purchase, but the hard money had been on China to do so, not India.
U.S. Home Vacancies Rise to 18.8 Million on Defaults - Oct 30 About 18.8 million homes stood empty in the U.S. during the third quarter as banks seized properties from delinquent borrowers and new home sales fell in September.
Billionaire Wilbur Ross Sees Huge Commercial Real Estate Crash - Oct 30 “All of the components of real estate value are going in the wrong direction simultaneously,” said Ross, one of nine money managers participating in a government program to remove toxic assets from bank balance sheets. “Occupancy rates are going down. Rent rates are going down and the capitalization rate the return that investors are demanding to buy a property are going up.”
New home sales take surprise tumble - Oct 29 The "Experts" caught off guard again.
New jobless claims climb more than expected - Oct 29 The "Experts" caught off guard again.
New jobless claims climb more than expected - Oct 29 The "Experts" caught off guard again.
Turkey to use national currencies in trade with Iran, China - Oct 29 Turkey had to change sides and fight against the West to fulfill Prophecy as they are widely believed to be the house of Togarmah.
What Recovery? 937,840 Foreclosures Q3 - Oct 28 What recovery? There were 937,840 foreclosures in Q3 in the US, according to RealtyTrac, the highest quarterly level since they starting issuing reports in 2005.
Capmark Files for Bankruptcy With $21 Billion in Debt - Oct 26 Capmark Financial Group Inc., the lender owned by companies including Goldman Sachs Group Inc. and KKR & Co., filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion. Capmark, based in Horsham, Pennsylvania, is one of the largest U.S. commercial real estate finance companies, with more than $10 billion in originations, according to Moody’s Investors Service. The company, formerly known as GMAC Commercial Holding Corp., services more than $360 billion of debt. It has struggled as the default rate on commercial mortgages held by U.S. banks more than doubled to the highest since 1994. Commercial market headed for disaster -Sept 23
Peter Schiff issues a Red Alert: "Get out of the US dollar" - Oct 23
Is a Fed Governor Hinting at a Stock Market Crash Just Ahead? - Oct 23
Possible Credit Dislocation: Be Warned - Oct 23 I am hearing repeated anecdotes from multiple areas that foreclosed property held by banks with multiple full-price offers that include a financing requirement are being sold instead to people with actual cash at radical reductions from that price. This implies that these financing contingencies are regarded as not only potentially no good but factually no good, as if the banks know for a fact that the credit pipeline will (not might), within weeks or months (in the time required to close), disappear. There is no other rational explanation for this behavior.
3 signs of the next real estate collapse - Oct 22 The latest bubble is about to burst, but this time it's in the commercial market. Here's how to see it coming.
Dollar Dumping Will Remain the Hot Trade - Oct 21 Currency strategists say there is little to stop the dollar decline until U.S. officials convince markets they have the fortitude to curb deficits, or the Fed makes a move on rates.
Calif. bank becomes 99th in US to be shut in 2009 - Oct 19
Russia and Iran Now OFFICIALLY Talking of Dumping U.S. Dollar for International Trade - Oct 18
Britain is in danger of going bust, warns EU - Oct 16 Britain's economy was consigned to a list of those at 'high risk' yesterday because of the spiralling national debt.
Deficit Hits $1.4 Trillion, Complicating Stimulus Plans - Oct 16 Federal deficit hits $1.38 trillion in August - Sept 13 you do the math !
Bank Of America Posts $2.2 Billion Loss - Oct 16 Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers are still struggling to pay their bills.
Goldman Sachs breaks record with $16.7bn bonus pot - Oct 16 So where did that bail out money go ????
Watch the video at the link! The interview with Prof. William Black starts at 14:14!
Foreclosures: 'Worst three months of all time' - Oct 15
1929 And Today - Sobering Parallels Abound - Oct 15 When was the last time
you saw stocks decline 54% followed by a 55% rally? When was the last
time you saw stocks (NYSEArca: VTI - News), bonds (NYSEArca: AGG) and
commodities (NYSEArca: DBC - News) move in sync for nearly two years?
When was the last time asset allocation did not really provide the
diversification and protection it was supposed to? When was the last
time, a ten year investment in the stock market delivered negative
returns? Investors that care to harken back 80 years will find that
the 1929 - 1932 era is the only period of time that compares to today.
In fact, the parallels between now and then are bountiful and scary.
RON PAUL WARNS OF PENDING DOLLAR CRISIS SAYS STRIKE ON IRAN WILL BE THE TRIGGER - OCT 14 I HAVE BEEN SAYING THIS FOR MONTHS !
Fed boss Ben Bernanke
may be forced to raise rates in order to restore faith
Dollar Reaches Breaking Point as Banks Shift Reserves - Oct 12
The G-7 Abandons The Dollar - Oct 9 The U.S. Dollar is doing a levitating act because their certainly is nothing holding it up.
Iraq to Deal Oil in Euros - Oct 9
Mainstream Medias Failed Reporting on the Dollar Collapse - Oct 8 AS of 7:09 AM ET CNBC and Marketwatch do not have anything on their front page about the Asian intervention in foreign currency markets to prop up the collapsing dollar. FT has a general story on the weak dollar four stories down. WSJ covers it, but only half way down, in the "Before the Bell" segment. Let me make clear what MSM is obviously not getting. Panic out of the dollar is the great tsunami that could rock the financial system to its core. If this escalates. It means soaring double digit U.S. inflation, a near impossible ability for the U.S. government to finance its debt, a complete restructuring of the international financial structure.
Asian Central Banks Intervene as Dollar Tumbles - Oct 8
HOT: Dollar Intervention!!! - Oct 8 2009 Things are really bad when the Philippines is propping up the dollar. The Philippines! These declines are really hard to stop, near impossible. Is this the the start of the tsunami wall of dollars that could hit markets?
OCTOBER 09 ECONOMIC CRASH EXPECTED !!! GLOBAL RECOVERY NOT GOING TO HAPPEN !!! BANK HOLIDAY - OCT 7 CRASHES MOST OFTEN HAPPEN IN OCTOBER !
Profit news could make or break the bull stock market - Oct 7
Portfolio Manager Says Dow Will Fall To 6,300 By Year End - Oct 6 Two months to fall from 9731 Oct 6 close to 6300 = crash
UN calls for new reserve currency - Oct 6 Can you see the storm clouds forming ?
Fed Should Release Borrowers’ Names, Bloomberg Say Divulging specifics about the loan program might touch off a run by depositors, unsettle shareholders and hurt the central bank’s “ability to perform important statutory functions at a time of economic upheaval,” Fed lawyers have said in legal filings. SEE NEWS BLOW THE FED THREATENED A SYSTEMATIC COLLAPSE IF THEY ARE FORCED TO DIVULGE THIS INFORMATION.
The demise of the dollar - Oct 5 In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar. That's one-half of the foreign demand for the U.S. dollar.
Game Crazy and the Coming Retail Crash - Oct 4 Yesterday Game Crazy announced it’s going to close over 200 of its 680 stores. The goal of the closings is to liquidate merchandise in the hope that the company can raise enough money to keep the remaining stores open. Some may remember that Circuit City tried a similar move in October of last year when they announced the liquidation of 30% of their stores. The company had thought the liquidations would give them enough cash to save the rest of the chain, but things didn’t go as planned and Circuit City had to liquidate...
World Bank and IMF join global attack on the U.S. dollar! - Oct 4 In my emails to you over the past couple of weeks, I’ve shown you why Washington has no choice but to devalue the dollar and how global leaders and even the United Nations have joined the attack on the greenback by demanding it be replaced as the world’s reserve currency.
Will California become America's first failed state? - Oct 4 Los Angeles, 2009: California may be the eighth largest economy in the world, but its state staff are being paid in IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?
World Bank could run out of money 'within 12 months' - Oct 2
InkStop Closes All Stores, Workers Stunned - Oct 2 All employees have been laid off. To make matters worse, workers did not get their paychecks Friday. On top of that, they also found out that InkStop didn't pay their health insurance premiums for the month of September. Employees just learned that their coverage actually ended August 31. The Cleveland-based company has 163 stores nationwide.
Crash/Collapse Dead Ahead Say Faber, Rogers, Dent and Celente - Oct 2 Though we continue to see most mainstream analysts talk the bull market talk, it looks as if the bull may be in trouble, especially if individual investors realize what all of the big boys talking their books already know - that the economic fundamentals are simply horrific and the markets are already pricing in GDP growth of over 5% for the next 4 quarters. Considering that GDP grew at 0.7% in the 2nd quarter, that seems highly unlikely. Some estimates also suggest the the P/E of the S&P 500 right now is at unprecedented levels of over 100!
Permanent Link to U.S. Dollar Dives Against Yen- Another Sign of the Crashing Economy - Oct 1
FDIC Discloses Deposit Insurance Fund Is Now Negative - Oct 1 In an unprecedented disclosure, the FDIC has highlighted that it expects the DIF reserve ratio to be negative as of September 30. As there are a whopping 48 hours before that deadline, one can safely assume that the DIF is now well into negative territory: as of today depositors have no insurance courtesy of a banking system that has leeched out all the capital of the Federal Deposit Insurance Corporation. Let's pray there is no run on the bank soon. You had better be the smart ones and go get your savings out soon very soon and by food.
CIT 'Hanging by Their Fingernails': Source - Sept 30 If Bondholder Deal Doesn't Go Through, Major Lender CIT Could File One of Largest Bankruptcies in History. Another largest in history ... when do they stop
US May Face 'Armageddon' If China, Japan Don't Buy Debt - Sept 24 "It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
Iran Replaces The US Dollar With The Euro…And So It Begins - Sept 23
U.S. Aug mass layoffs rise, manufacturing worst hit - Sept 23
Commercial market headed for disaster -Sept 23
The pestilence and famine are coming together for the same time Iran and Syria are to get attacked all by design Project Blue Beam
1 in 4 FHA Mortgage Loans in Foreclosure or Delinquency - Sept 21 The current FHA
report is now out for servicing delinquencies and defaults, and as
expected it is indeed worse, not better. The administration continues
to LIE about claimed “improvements” in the character of home finance.
California Joblessness Reaches 70-Year High - Sept 21 California’s unemployment rate in August hit its highest point in nearly 70 years, starkly underscoring how the nation’s incipient economic recovery continues to elude millions of Americans looking for work.
Just cover your eyes and everything will look great just like a recovery is around the next corner ...were ever that is. But in the mean time I have some Swamp land for sale for all who buy that.
Here is the news we have been waiting for that could start the greatest crash ever ! Add to this news (below) the D day announcements of the invisible derivatives money we have been borrowing from and it will bring about a Global financial disaster. See next news article.
Just a few weeks ago, while Chairman Bernanke was testifying to Congress, we examined the Fed balance sheet and P&L statement only to find what looked like the Fed handing over half a trillion dollars to foreigners. This was very surprising! When I asked Chairman Bernanke if this was true, he said, “Yes.” When I asked him who got the money, he said, “Fourteen foreign Central Banks.” And when I asked to who did they give the money, he said, “I don’t know.” “I don’t know” is not good enough when you’re talking about $500 billion. That’s $1700 for every man, woman, and child in this country...
Treasury To Sell $112 Billion In Notes Next Week - Sept 17 Lets see if the fed buys them again. Again diluting the U.S. dollar.
September 30th - D-Day for U.S. - Have You Been Paying Attention? Are You Prepared? - Sept 14 Derivatives Meaning =
Lets say: A bank has a deposit of $1000 - they are suppose to only
lend up to 90% of that deposit out. So they then lend $900 out to
someone, now they add that $900 loan to "deposits" - because it is
seen as money in the bank. So, now they took that $1000 and made it to
$1900 as deposits. So now they are able to loan 90% of $1900 - so they
loan $1710 to someone else. Once that happens, again they can add that
$1710 as money in the bank. The cycles goes on and on - until the
reality is quadtrillion - some say quintrillions is loaned out - in
money that is not actually there. Thus we have a house of cards that
has no base and that is WHY the banks - don't actually have all the
money that are in deposits in the banks. So that means - what you
think you have in the bank in the form of money - is NOT THERE!
Stiglitz Says Banking Problems Are Now Bigger Than Pre-Lehman -Sept 14 Joseph Stiglitz, the
Nobel Prize- winning economist, said the U.S. has failed to fix the
underlying problems of its banking system after the credit crunch and
the collapse of Lehman Brothers Holdings Inc.
Federal deficit hits $1.38 trillion in August - Sept 13
A second wave of mortgage defaults is about to come - Sept 10 Can't these people count? Here's what's going to set off the second leg down. "Clear and predictable..."
Senate must raise debt ceiling above $12T - Sept 10 Now Obama is asking Congress to raise the debt ceiling, something lawmakers are almost certain to do despite misgivings about the federal debt. The ceiling already has been hiked three times in the past two years, and the House took action earlier this year to raise the ceiling to $13 trillion. Congress has little choice. Failing to raise the cap could lead the nation to default in mid-October, when the debt is expected to exceed its limit, Treasury Secretary Timothy Geithner has said. In August, Geithner asked Senate Majority Leader Harry Reid (D-Nev.) to increase the debt limit as soon as possible.
UN wants new global currency to replace dollar - Sept 8
Insider trading has been thee indicator to watch for the ups and downs to come and he we see the biggest ever recorded ! Warning all of us we will soon see a massive down swing in the markets. Insider Trading and Investor Sentiment Signalling U.S. Stock Market Top Aug 31/09 TrimTabs Investment Research reported that selling by corporate insiders in August has surged to $6.1 billion, the highest amount since May 2008. The ratio of insider selling to insider buying hit 30.6, the highest level since TrimTabs began tracking the data in 2004. "The best-informed market participants are sending a clear signal that the party on Wall Street is going to end soon," said Charles Biderman, CEO of TrimTabs.
Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information - Aug 27 Remember 5 days to disclose were the 2 trillion went is up on Aug 30 th !
Unemployment Edges Up to Great Depression Level - Aug 23
Court Gives Federal Reserve Five Days to Disclose Emergency Bank Loans - Aug 25 The Fed has refused to name the financial firms it lent to or disclose the amounts or the assets put up as collateral under 11 programs, most put in place during the deepest financial crisis since the Great Depression, saying that doing so might set off a run by depositors and unsettle shareholders. IF THEY DID NO WRONG THEN HOW WOULD IT UNSETTLE SHARE HOLDERS AND SET OFF A RUN ON THE BANKS ???
China aggressively reducing us debt - Sign of things to come - Aug 24 The United States needs to borrow nearly $10 trillion over the next decade, including about $1.6 trillion this year. Where's it going to come from? See Chart at this link above. China reduced its holdings of Treasury securities by $25 billion in June, the most China had ever sold in a month...
The U.S. is holding the global economy afloat by printing U.S. dollars see massive inflation soon or the War with Iran and Syria then Massive Inflation you can not hold it off forever it will happen it is the caused effect of printing billions of more Dollars out of thin air.
Days Away From Economic Chaos? - Aug 21 (Freemasons order through Chaos satanic plan to terrorized the world to bring on the Antichrist as if he is god.) America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.
Even Warren Buffett Is Now Saying Bonds Could Crack!- Aug 21
“No government, or central bank, is bigger than the bond and currency markets. Foreign bondholders aren’t going to sit idly by while any government … even the government of the U.S. … openly decides to trash its currency by printing it with reckless abandon. And they aren’t going to sit by while the government manipulates prices higher. “They’re going to say ‘Sold to you!’ and take their money elsewhere.” Global Crash Coming Soon ! Buy food !
Peter Schiff On FOX Business: Buffett's Concerns Valid? - Aug 21
IF WE FORGET THE LESSONS OF THE PAST WE ARE DOOMED TO REPEAT THEM TWO DAYS IN GERMANY AND THE STORE SELVES WERE EMPTY
PRAY FOR THE BEST BUT PREPARE FOR THE WORST ESPECIALLY WHEN YOU CAN SEE IT COMING THIS CLEARLY !
Buffett: We're Going to Be Crushed Under Mountain of Debt....with video - Aug 20 A highly influential
American has finally hit the panic button about the tremendous
mountain of debt the country is piling up. Just what I have been saying for months if you print it you destroy the value of the U.S. currency and no will want to trust to lend to the U.S. = CRASH !!!
Jobless spike compounds foreclosure crisis - Aug 18 The country's growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, according to bankers and economists, threatening to send even higher the number of borrowers who will lose their homes and making the foreclosure crisis far more complicated to unwind.
Chicago shuts down to save money - Aug 20 Public services in the US city of Chicago have been shut down for a day as the authorities face an expected budget shortfall of some $300m (Ł184m). Non-essential services such as rubbish collections, libraries and health centres were closed, in the first of three planned reduced service days.
Unemployment claims unexpectedly worsen, rise 15,000 - Aug 20 The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly for the second straight week, an indication that jobs remain scarce.
There is no such thing as a "jobless recovery."
The notion that deficits do not matter is a widely held and deeply ingrained economic philosophy. This line of thought took a stronghold in the 1980s and has seemed to stick to our ever-growing dismay. Yet budget deficits do matter if we are looking at an economic horizon that is longer than one fiscal year. You need to put this into context of your own household. If you as an average American spend more than you make, it will eventually catch up to you.
RBS uber-bear issues fresh alert on global stock markets - Aug 14 Britain's Uber-bear is growling again. After predicting a torrid "relief rally" over the early summer, Bob Janjuah at Royal Bank of Scotland is advising clients to take profits in global equity and commodity markets and prepare for another storm as winter nears. We are now in the middle of a parabolic spike up," he said in his latest confidential note to clients. "I expect this risk rally to continue into and maybe through a large part of August. What happens after that? The next ugly leg of the bear market begins as we get into the July through September 'tipping zone', driven by the failure of the data to validate the V (shaped recovery) that is now fully priced into markets." See everything is lining up for early Sept possibly Sept 9 th or Sept 11 th for the strike on Iran and Syria and the global economic crash . To bring on Project Blue Beam and to put the pope in power in Jerusalem . After which you will be forced to take the E commerce Invisible bar code tattoo to buy or sell = Mark of the beast. See more info under Project blue beam on my home page. Luke 21:10 Then said he unto them, Nation shall rise against nation, and kingdom against kingdom: Luke 21:11 And great earthquakes shall be in divers places, and famines, and pestilences; and fearful sights and great signs shall there be from heaven.
Luke 21:28 And when these things begin to come to pass, then look up, and lift up your heads; for your redemption draweth nigh. NO MORE HELL'S ANGELS HARLOT WAR ON DRUGS FALSE RELIGION 144,000 FREEMASONS. Luke 21:34 And take heed to yourselves, lest at any time your hearts be overcharged with surfeiting, and drunkenness, and cares of this life, and so that day come upon you unawares. Project Blue Beam is a false holographic second coming of Jesus. They are planning to create all the prophecies in order to deceive the globalal population into believing the Pope is god when he is the antichrist he comes with all God's power all God's signs and all lying wonders. These are the only signs and lying wonders that are so great that if possible they could deceive the very elect of God. We have to "see" the Lord coming in the clouds to believe he is back and not until.
Get prepared to leave all cities when they begin to mass vaccinate at the beginning of Sept as the many stories I have show this vaccine is extremely hard on the human immune system these news articles show many nations now force vaccinating for a flu that has kill 2000 globally when 30,000 to 40,000 die each year in Americas alone from the seasonal flu. See it here .
U.S. deficit grew 1.27 trillion this year !
U.S. home foreclosures set another record in July - Aug 13
VIX Signals S&P 500 Swoon as September Approaches - Aug 12 Traders were betting the VIX, a gauge of expected stock swings, would increase 13 percent in the next five weeks, according to futures prices at the end of last week compiled by Bloomberg. That’s the biggest spread since August 2008, before the S&P 500 suffered the steepest two-month plunge in 21 years. The indexes have moved in the opposite direction 81 percent of the time over the past five years, Bloomberg data show. “It’s a danger sign,” said Ronald Egalka, a 36-year options trader who oversees $8 billion as chief executive officer of Rampart Investment Management in Boston. “People expect volatility to pick up in the future, and that implies that there’s going to be a downward movement in the market.” Here the crash comes and only those of us who asked God forgiveness of our sins and asked God's Spirit into our heart will head the warning signs all others are in big trouble with God.
This next news is Huge as it shows that there is not enough buyers of 50% of the U.S. debt being auctioned. JUST AS I SHOWED BELOW The Fed Buys Last Week's Treasury Notes - Aug 7 Good grief! Just last week, when the auction results were announced it was trumpeted to great fanfare that there was "more than sufficient" bid-to-cover, "strong demand" and all the rest. And now it turns out that 47% (!) of the bonds that were taken by the primary dealers in that auction have been quietly bought by the Fed and permanently secreted to its balance sheet. They didn't even wait a full week! A more honest and open approach would have been for the Fed to simply buy them outright at the auction but this way, using "primary dealers" and "POMOs" and all these other extra steps the basic fact that the Fed is openly monetizing US government debt is effectively hidden from a not-too-terribly inquisitive US press and public. The speed of the shell game is accelerating. This immediate repurchase of newly auction bonds by the Fed tells us that demand for these bonds is not nearly as high as advertised, and that things are not quite as strong as represented. And oh, by the way, don't expect any stock market weakness while so many billions are being shoveled out the Fed and into the pockets of the primary dealers. They'll have to do something with all that freshly minted cash.....
U.S. deficit grew by $181 billion in July - Aug 10
The Second Wave Of The Depression - Hyperinflation Likely - Aug 6 Washington DC --- The second wave of the world economic depression is coming soon. Larry Summers, the economics czar of the Wall Street puppet regime currently in power in Washington, recently confessed to the Financial Times in an unguarded moment: "I don't think the worst is over ...." A few weeks earlier, Jacques Attali, who served in the 1980s as the main economics adviser to French President Mitterrand, told an audience at the International Economic and Financial Forum (FIEF) in Paris that the world might well soon face a "planetary Weimar" in the form of a hyperinflationary depression similar to the German events of 1922 to 1923. REMEMBER THAT IN GERMANY'S CRASH WITHIN TWO DAY THE STORE SHELVES WERE EMPTIED START BUYING FOOD AND GAS NOW !!!
About half of U.S. mortgages seen underwater by 2011 - Aug 6
Regulators shut down five regional banks Friday, the Federal Deposit Insurance Corporation said, bringing the total number of banks to fail in the United States to 69 this year.
The Plot To Destroy The US Dollar - Aug 3 PLOTTING THE DESTRUCTION OF THE US DOLLAR and the weakening of its role as the reserve currency in the global market, was the underlying agenda of the Bilderberg Group, which convened its most ominous meeting to date in Greece on May 14-17, 2009. According to an alleged Kremlin report, (and it’s believable), the shadowy Bilderberg Group made up of financial, political and corporate elite emerged from their conclave after coming to an agreement that in order to continue their drive towards a New World Order dominated by the Western powers, the US dollar had to be destroyed.
After $182 billion taxpayer rescue, is AIG on the verge of collapse? - Aug 2 It looks like the rot at AIG is not limited to FPG. While AIG officials have claimed that its problems were isolated to FPG, the reality is that AIG seems to have been running something akin to a shell game of massive proportions. Its shell game version took the form of selling insurance and assigning the resultant risks among its 71 different North American insurance companies.
Prolonged aid to unemployed is running out - Aug 2 Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution. Tens of thousands of workers have already used up their benefits, and the numbers are expected to soar in the months to come, reaching a half-million by the end of September and 1.5 million by the end of the year, according to new projections by the National Employment Law Project, a private research group.
Obama says many months before U.S.
exits recession - Aug 2
Marc Faber the recent rally is the result of excess liquidity The worst is still to come - July 30
The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults - July 26
Mass Layoffs: The Continuing Devastation - July 26 Stock market investors shrug off a disaster in our midst: mass layoffs. Investors act as though it will soon be business as usual. Companies cut costs by firing employees that have been with them for decades. Then the companies can report higher earnings from cost-cutting measures. The media then proclaim an increase in earnings. But how will these increases be sustained? How will an unemployment rate of 11% help get the economy back on its feet?
Treasury Auction Scheduled sale - July 24
Let's see if I can count this up....
70 day CMBs, $30 billion
(tomorrow)
I guess you should get while the getting is good, but this is going totally parabolic. That money has to come out of somewhere, by the way, in order for the sale to succeed, which is going to get rather interesting at some point - but exactly where it matters is impossible to know. I expected that when we crossed the $100 billion threshold in a week the market would throw up all over it, but it didn't. Now we've got the government trying to sell a quarter of a trillion dollars in debt over the next week, the announcement is out there, and while the bond market is selling off to a material degree equities could care less! This is flat-out insane. At this run rate we would be trying to sell twelve trillion dollars over one year's time, an obviously ridiculous and impossible-to-peddle amount of debt at any price.
World Prepares to Dump the Dollar - July 24 What do China, India, Brazil, Russia, France and Germany have in common? These countries most often can’t agree on anything. But they are united in one strange—and ominous—way. They blame the United States for wrecking the global economy. And they think the dollar is the wrecking ball. One rock-solid, foundational belief underpins almost all economic theory in America: faith in the dollar’s unassailable status as the world’s reserve currency. Foreigners hold so many dollars that they can’t afford to stop buying them, the theory goes. Therefore the dollar’s status as the world’s reserve currency is sound. But the dollar is now coming under a concentrated attack. Are American economists about to get schooled?
Millions wait months for delayed jobless checks - July 24 Cracks in unemployment system widen under strain of recession. Years of state and federal neglect have hobbled the nation’s unemployment system just as a brutal recession has doubled the number of jobless Americans seeking aid.
In a program that values timeliness above all else, decisions involving more than a million applicants have been slowed, and hundreds of thousands of needy people have waited months for checks.
Cost Of Bailout Hits A Whopping $24 Trillion Dollars - July 21 According to the watchdog overseeing the federal government’s financial bailout program, the full exposure since 2007 amounts to a whopping $23.7 trillion dollars, or $80,000 for every American citizen.
The U.S. and UK Will Both Default on Their Debt by the End of Summer - July 19
Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt' - July 17 Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.
Why Obama's Health Care Reform Bill Will Destroy U.S. Jobs and Devastate the Economy - July 17
35,000 UK shops to close this year? - July 17 As many as 35,000 UK shops could close this year as the recession bites hard into the British economy.
U.S. Senate Health Committee Passes Health Care Reform Bill that will Bankrupt America - July 16
Economic crisis far from over, WTO
chief says - July 13
Switch away from US Dollar could Bankrupt US Economy - Gerald Celente - July 13 Russian president just showed the world the new world currency so it will happen.
This $17 Trillion Divorce Won’t Be a Pretty One: William Pesek - July 10 Returning from China last month, U.S. Congressman Mark Kirk had a bearish take on a high-level visit by American officials. Treasury Secretary Timothy Geithner claimed the U.S.’s biggest creditor voiced great confidence in its debt. Kirk, an Illinois Republican, came back with the opposite impression. “China is beginning to cancel Congress’s credit card,” he told Fox News on June 10. It “doesn’t want to lend much more money to the United States and especially is worried about the Fed’s policy of printing money to buy new debt.”
Medvedev Shows Off Sample Coin of New ‘World
Currency’ at G-8 - July 10
US lurching towards 'debt explosion' with long-term interest rates on course to double - July 6 The US economy is lurching towards crisis with long-term interest rates on course to double, crippling the country’s ability to pay its debts and potentially plunging it into another recession, according to a study by the US’s own central bank.
Another wave of foreclosures is poised to strike - July 5 Mortgage defaults have
surged to record levels amid rising unemployment and falling home
prices. Lenders are expected to move quickly to clear up backlogs as
moratoriums on foreclosures expire.
India Joins Russia, China in Questioning U.S. Dollar Dominance - July 5
And Here It Is On CNBC: Manipulation - July 3 "This market continues to be propped up by government intervention and manipulation." No, really?!
Seven banks fail, pushing 2009 tally
to 52
- July 3
An Economy Bigger than Russia, Brazil, Canada, India or Spain Is About to Default - July 2 Look at the news just below this one. An economy bigger than Russia,
Brazil, Canada, India or Spain is in imminent risk of defaulting on
its debts. Which nation am I talking about? Not a country . . . but
the state of California. California’s GDP was around $1.812 trillion
in 2007. According to the International Monetary Fund, that is bigger
than the 2008 GDP of every country in the world except the US, Japan,
China, Germany, France, UK and Italy . Given that California has more
people than any other state in the US, and some of the largest
agricultural, manufacturing, high-tech and defense sectors in the
nation, you would think that helping California would be important.
And yet instead of helping California the federal government is giving
aid to Goldman Sachs, JP Morgan and the other financial giants who
helped to cause the financial crisis, and to Israel and other foreign
countries. Does that make any sense? Note: Depending on which
source is cited (CIA World Factbook, World Bank, or IMF), California
ranks somewhere between 7th and 10th in world GDP.
Schwarzenegger Declares Fiscal Emergency in California - July 2
America's Effective Unemployment Rate at 18.7%? - July 2 The numbers are staggering and are aggregates of official data. They matter because various Obama administration officials including the President himself started off calling for huge stimulus packages to help generate "jobs, jobs, jobs!" But now, I have been hearing more and more from senior Obama economic team members about the jobs they hoped for coming at the very tail end of an economic recovery. Others are talking about a GDP recovery -- but not a jobs recovery. They are admitting as well that they underestimated the severity of this recession and its impact on unemployment levels. And all this while Goldman Sachs and other financial houses have seen their balance sheets get cleaned up and bonuses surge.
History is repeating . . . Sound money is again being trashed, which is causing the collapse of the American empire.
Fannie Sees Jump in Overdue Home Loans - June 30 Fannie Mae reported a steep increase in the percentage of home mortgages with overdue payments. The government-backed mortgage investor said in a monthly summary released Monday that 3.42% of the single-family mortgages it owns or guarantees were 90 days or more delinquent in April, up from 3.15% a month before. Fannie's main rival, Freddie Mac, reported last week that its single-family delinquency rate for May was 2.62%, up from 2.44% in April.
FDIC Breaks February Record; 5 Banks Fail Over Weekend - June 28 In its busiest weekend in decades, the FDIC closed 5 more banks bringing the number of total bank failures for the year to 45.
This weekend exceeded the previous record when 4 banks failed on a single weekend in February. Two of the seized banks were located in California, two more in Georgia and one in Minnesota. The FDIC was able to find buyers for 4 of the 5 failed bank deposits. Community Bank of West Georgia failed in the true sense of the word. The FDIC did not find a suitable bank to assume their deposits.
The FDIC will mail checks directly to depositors for an amount within the FDIC insurance coverage limit. It is estimated that the bank had $1.1 million of uninsured deposits.
Mounting U.S. jobless claims force states to borrow - June 28
U.S. Stocks, Dollar Decline on China Calls for World Currency - June 26 All nations are beast nations in the end days and here we have the calls that Satan's wants = one World Currency, one World Religion, one World Ruler = the Pope.
ECB Lends Record $622 Billion in Bid to Ease Crisis - June 25 You can not get out of debt with more debt it spells disaster. The loans are growing massively to help give the impression of recovery when in fact a global disaster is in the making. Start buying food or wished you did.
California set to issue IOUs as fiscal crisis weighs - June 25 California's controller said on Wednesday that he would have to issue IOUs in a week if lawmakers can't quickly solve a $24 billion budget deficit, and the state's treasurer plans to tap a reserve fund to meet debt service costs. The measures came as a budget crisis deepened in the most populous U.S. state and the gridlocked legislature failed to pass a proposed $11 billion in cuts.
Goldman Sachs: "Engineering Every Major Market Manipulation Since The Great Depression" - June 25 From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again
Insiders Bailing Out by the Billions? Oops, There Goes the "Rally" (again!) - June 24 Yesterday [Monday] how someone or something unloaded 7+ million in JP Morgan shares before market close? Wasn't it something like 1.5 million in the blink of an eye? Someone wants out and now, but that's odd looking at $JPM's performance for the last few weeks
Warren Buffett to CNBC: U.S. Economy In "Shambles" .. No Signs of Recovery Yet - June 24
The U.S. and the U.K. Will Both Default on Their Debt by the End of Summer - June 23
California Collapsing - June 22 Washington and Wall Street seem to be treating California as if it were a sideshow in the financial circus of these turbulent times. It’s not. California is home to the largest manufacturing belt in the United States and to Silicon Valley, the nation’s largest high-tech center.
DOW TAKING MAJOR PLUNGE ON WORLD BANK WARNING - JUNE 22
Ron Paul: International Bailout Brings Us Closer to Economic Collapse - June 22 Video
Insiders Exit Shares at the Fastest Pace in Two Years - June 22 When Insiders sell it is because they know their stock is over priced or the market is about to head down lots.
Treasury to Auction $104 Billion In Debt Next Week, a Record - June 19 What happens if no one actually wants to purchase the bonds?? Bye bye U.S. dollar !
Suitcase With $134 Billion Puts Dollar on Edge - June 19
Get ready for the U.S. dollar collapse soon. Russia's Medvedev: Supranational currency will be created - June 17 Russian President Dmitry Medvedev said on Tuesday existing reserve currencies, including the dollar, have not performed their function, and a new supranational currency was in the making.
Dollar drops on reserve currency doubts - June 17
China sells US bonds to 'show concern' - June 17 According to US
Treasury data issued Monday, Beijing owned 763.5 billion dollars in US
securities in April, down from 767.9 billion dollars in March. .
Russia: Dump Dollar as World Reserve
Currency - June 16 Medvedev: World Needs New Reserve Currency - June 16
The American Empire Is Bankrupt - June 15 June 15, 2009 "Truthdig" There are meetings being held Monday and Tuesday in Yekaterinburg, Russia, (formerly Sverdlovsk) among Chinese President Hu Jintao, Russian President Dmitry Medvedev and other top officials of the six-nation Shanghai Cooperation Organization. The United States, which asked to attend, was denied admittance. Watch what happens there carefully....It is the first formal step by our major trading partners to replace the dollar as the world’s reserve currency.
U.S. credit card defaults rise to record in May - June 15 U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America Corp's (BAC.N) lending portfolio, in another sign that consumers remain under severe stress. Delinquency rates an indicator of future credit losses fell across the industry, but analysts said the decline was due to a seasonal trend, as consumers used tax refunds to pay back debts, and they expect delinquencies to go up again in coming months.
Financial crisis: Worst may be still ahead, says IMF chief - June 15
The American Empire Is Bankrupt (AKA the end of US hegemony, military or otherwise) - June 15 This week marks the end of the dollar’s reign as the world’s reserve currency. It marks the start of a terrible period of economic and political decline in the United States. And it signals the last gasp of the American emperium. That’s over. It is not coming back. And what is to come will be very, very painful. Barack Obama, and the criminal class on Wall Street, aided by a corporate media that continues to peddle fatuous gossip and trash talk as news while we endure the greatest economic crisis in our history, may have fooled us, but the rest of the world knows we are bankrupt. And these nations are damned if they are going to continue to prop up an inflated dollar and sustain the massive federal budget deficits, swollen to over $2 trillion, which fund America’s imperial expansion in Eurasia and our system of casino capitalism. They have us by the throat. They are about to squeeze.
The Coming Economic Collapse - June 14 This is no recession. We are already on our way to a Depression (a GDP contraction of 10%) possibly even another Great Depression. One in nine Americans are currently receiving food stamps. Real unemployment (without birth/death seasonal nonsense and all the other Federal gimmicks) stands at 20%. So I don't buy the "green shoots" theory at all. Having things get horrendous at a slightly slower rate is NOT a sign of a recovery. Green shoots can pop up anywhere including the asphalt in the parking lot outside my office. That doesn't mean the parking lot is about to become a lush meadow.
There is a wonderful smell of delusion in the air. As the state marches on to economic Armageddon, there is now a large portion of bottom callers jumping into the market. Many investors are now buying up homes in the Inland Empire and other depressed areas for 50, 60, and sometimes 70 percent off peak prices. A mentor once told me, “at times, things are cheap for a reason.” At the low end, we may be seeing signs of a bottom. But one thing people forget is that this does not necessitate that prices will bounce up. Since we have emulated Japan in everything concerning fiscal and monetary policy, we may have a stagnant decade of real estate ahead of us. So for those buying homes for $100,000 and collecting $800 in rent, you are a long way from cash flowing like a mogul.
U.S. Foreclosure Filings Top 300,000 as Bank Seizures Loom - June 11 U.S. foreclosure filings surpassed 300,000 for the third straight month in May and may hit a record 1.8 million by the first half of the year, RealtyTrac Inc. said. A total of 321,480 properties received a default or auction notice or were repossessed last month, up 18 percent from a year earlier, the Irvine, California-based seller of default data said today in a statement. One in 398 U.S. households received a filing last month.
May U.S. foreclosures third highest on record - June 11
California nears financial "meltdown" as revenues tumble - June 11
Spitzer: Green Shoots, Red Ink, Black Hole: Truly Terrifying Data About the Real State of the U.S. Economy - June 9 I have an unfortunate sense that the “green shoots” in the economy that everyone is talking about are nothing but dandelions. Sure, forcing $1 trillion of taxpayer money in direct capital, guarantees, and diminished cost of borrowing into the banking sector has permitted the major banks to claim solvency for the moment. Yet we should not forget that this solvency has come not through a much needed deleveraging of the banking sector but rather from a massive transfer of the obligations of private banks to the public, with the debt accruing to future generations. And overall loan quality at U.S. banks is still the worst in 25 years and deteriorating at the fastest pace ever. US $ as Reserve currency about to be dumped? - June 9 Replacing the dollar
has HUGE implications and the U.S. Government knows it.
http://asia.news.yahoo.com/rtrs/20090605/tbs-russia-china-swap-21231dd...
- June 6
The Biggest Victim of the Debt Crisis - June 8 Indeed, the Treasury’s financial crisis looms so large, it could wreck more havoc on the economy and deliver more pain to average Americans than the subprime mortgage disaster, the housing bust, the banking crisis, and the collapse of General Motors put together … It could create a rising tide of interest rates that wipes out the effects of any stimulus, undermines any recovery, and sabotages any new bailouts … But unlike GM, Fannie Mae, Citigroup, AIG, and the many others that the U.S. Treasury has bailed out in recent months, there is no institution on the planet big or rich enough to bail out the U.S. Treasury itself.
Alabama County Set to Halt Services, Shut Buildings Over Budget - June 5 Alabama’s most populous county is preparing to stop road maintenance, close courthouses and shutter services for the elderly after a court struck down taxes that pay for about 35 percent of its budget. Jefferson County, which includes Birmingham, released a plan to cut $52 million from its budget as it appeals the ruling against its business and occupational taxes to the Alabama Supreme Court. Without that revenue, the county has said it is at risk of running out of money as soon as this month.
Treasury bloodbath soaks top fund managers - June 5 Investors have been blindsided by one financial catastrophe after another over the last 18 months, but throughout the tumult, the government bond market has been their friend. Until now. A brutal drop in long-dated Treasury prices has caught even the best money managers off guard -- in some cases wiping out as much as 60 percent of the gains they booked in last year's huge rally in U.S. Treasuries.
Russia, China should dump dollar in trade - Medvedev - June 5 Russia and China should consider switching to domestic currencies in bilateral trade without going to the dollar, Russia's president Dmitry Medvedev said in an interview with Kommersant daily published on Friday.
Jim Rogers CNBC - Jun 4th, 2009 - Currency Crisis Ahead - June 4 Watch all the videos and you will know troubled waters ahead.
Are Banks Getting Ready To Flood The Market With Houses? - June 4 No one really knows how many houses are owned by banks. Banks often buy homes in foreclosure to limit losses, hoping that they'll be able to turn the house around for a profit later. But after months and months of foreclosures, banks may now be preparing to sell the houses they've been buying. Anecdotal evidence from Las Vegas, one of the foreclosure capitals of the US, suggests that we're about to see a release of bank-owned home inventory into the market.
Banks storing oil in anticipation of price increases - June 4 The giant US bank JPMorgan Chase has reportedly hired a newly-built supertanker to store heating oil off the Mediterranean island of Malta. Other companies, including BP and a unit of Citigroup, have also hired ships to store either crude oil or oil products. According to Bloomberg.com, “Traders were already using smaller tankers to store record volumes of jet fuel and heating oil in Europe as on-shore tanks filled up.”
One of the biggest bankruptcies in history occurred on June 1st yet you would not know this by looking at the stock market. In fact, the Dow Jones Industrial Average (DJIA) shot up by 220 points. If we look at total assets, this is the fourth largest bankruptcy in history. The Dow is made up of 30 companies that show a supposedly wide cross section of the American economy. The company that filed for bankruptcy was General Motors and was actually one of the 30 components. A company that dates back to 1908 and survived the Great Depression. So how can it be that a company that employs 250,000 filing for bankruptcy is actually good for the stock market and makes the DJIA rally so strongly? The easy answer is the stock market no longer reflects the economic reality on main street. Because it's being manipulated
Signs of a new financial storm for September coming from Dubai and Saudi Arabia - June 2 Dubai calls on the Rothschild bank for help, perhaps out of desperation. In Saudi Arabia a Saad Group company defaults. US, European and Asian banks are struggling. The end of Ramadan in September might mark the start of an economic depression worse than that of the 1930s.
Oklahoma Federal highway fund will run out by August - June 2 WASHINGTON - U.S. Sen.
Jim Inhofe said Tuesday the federal fund that pays for highways will
run out of money by August, forcing Oklahoma to deprogram up to $80
million in projects.
The Big Collapse Could Be Very Near - May 31 The Fed can of course print money to buy up every Treasury bond in existence, but the inflationary ramifications would be Zimbabwe like, and crush the dollar on international currency markets. Are we near the phase where all hell breaks loose? I have never even answered, maybe, to this question before. It's always been, "no." Now it's maybe.
Troubled Bank Loans Hit a Record High - May 29 OVERALL loan quality at American banks is the worst in at least a quarter century, and the quality of loans is deteriorating at the fastest pace ever, according to statistics released this week by the Federal Deposit Insurance Corporation.
Peter Schiff and Marc Faber on Hyperinflation - Glenn Beck - 05-28-2009 - May 29 Watch the video
U.S. government owes record $63.8 trillion - May 29
U.S. Inflation to Approach Zimbabwe Level, Faber Says - May 28 “I am 100 percent sure that the U.S. will go into hyperinflation,” Faber said. Start buying food !
Gerald Celente The bailout bubble is blowing apart now will bring the world down - 28 May 09 http://www.youtube.com/watch?v=VVwVjfC2KAQ&feature=player_embedded <--Video
World Markets Freak Out After Treasury Yields Spike - May 28 The big story that everyone will be talking about is the rapidly increasing yield on longer-term maturities, and what that means for both the economic recovery and the US' ability to finance its gigantic debt. Matters of previously theoretical concern (what happens if the world doesn't want to keep financing us anymore - See news below) are now coming into the fore.
GM Said to Plan for June 1 Bankruptcy, Sale of Assets - May 28 General Motors Corp., the world’s largest automaker until its 77-year reign ended in 2008, plans to file for bankruptcy protection on June 1 and sell most of its assets to a new company, people familiar with the matter said.
Mortgage Delinquencies, Foreclosures, Rates Increase - May 28 Mortgage delinquencies and foreclosures rose to records in the first quarter and home-loan rates jumped to the highest since March this week as the government’s effort to fix the housing slump lost momentum.
U.S. Economy: Durable-Goods Orders Hover Near Lowest Since 1996 - May 28 Durable-goods orders hovered near a 13-year low and the number of Americans collecting unemployment insurance reached a 17th straight record, offering no sign of an imminent rebound from the worst U.S. recession in half a century.
China warns Federal Reserve over 'printing money' - May 27 If the U.S. can't print money they are economically finished and massive inflation is days or weeks away.
But the head of the Dallas Federal Reserve bank says: [There is a] "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years. "We at the Dallas Fed believe the total is over $99 trillion," he said in February.
Total market manipulation just as many have been warning that this rally is fake and is about to end with a crash. With 2 minutes 30 seconds remaining in the video, Dan
Shaffer, President
of Shaffer Asset Management, gives shocking evidence of direct
government intervention in the stock
market:
EVIDENCE OF GOVERNMENT MANIPULATION
OF THE STOCK MARKET - Dan Shaffer (video and transcript)
The Dangers of Printing Money - May 25 The Fed's doing it.
The Bank of England says it plans to do it, too. With printing money
(or as they say today, "quantitative easing") back in fashion, TIME
reflects on Germany's efforts in the 1920s — and the crisis that
followed.
Obama: 'We are out of money' - May 24 Two days is all it took to clear the store shelves when Germany's crash came and that was done by people who had cash... get buying now... you have been warned for a long time. The wise prepare for the disaster they see coming.
U.S. may loan Nissan Ą100 billion - May 24 Nissan Motor Co. is likely to receive more than Ą100 billion in low-interest loans set up by the U.S. government to promote the development of and transition to electric vehicles and other fuel-efficient cars, sources said Friday.
They are planning to mass vaccinate most of the planet. See the many news articles on the home page. In order for Project Blue beam to work they have to lower our immune systems. This has to happen directly after Damascus destruction. Be wise and educate yourself on Project blue beam which is the only scenario that could possible deceive even the elect as we have to see the Lord return in the clouds in order to believe he is back. Global Holographic fraud. PROJECT BLUE BEAM AS DESCRIBED BY TINWIKI.ORG WHO chief says world should prepare for severe flu - May 22
Day of reckoning looms for the U.S. dollar - May 21
Britain's debt outlook lowered to negative - May 21
World Markets fall as growth hopes fade - May 21 Global stock markets have fallen after a warning that the UK's top credit rating is at risk.
Rogers Echoes Warning Of “Sucker’s Rally" - May 20 Veteran financial guru Jim Rogers warned CNBC viewers today that the stock market has yet to hit a bottom despite people ploughing their money back into a sucker’s rally, as the Bilderberg Group’s plan to pull the rug out from under euphoric investors draws closer.
The Weimar Hyperinflation? Could it Happen Again? - May 20 <--good article “It
was horrible. Horrible! Like lightning it struck. No one was prepared.
The shelves in the grocery stores were empty. You could buy nothing
with your paper money.” – Harvard University law professor Friedrich
Kessler on the Weimar Republic hyperinflation (1993 interview)
Brazil and China eye plan to axe dollar; Nations move to use own currencies for trade.. - May 19 U.S. DOLLAR CRASH COMING
Elliott Wave Disciple Robert Prechter Sees a Possible 2,000 Dow - May 19 Prechter even managed to call this year’s March bottom, expecting a substantial bear market rally at around 6,300 on the Dow, close to the bottom. However, he expects the market to resume its downward trend shortly, ending with a decline similar to the 86% in real terms of 1929-32 as we are in a long Elliott Wave downswing. That would take the Dow down to around 2,000. Personally, I would not go that far. This does not look like a reprise of the Great Depression, although it could still turn into one with enough policy mistakes another “stimulus plan,” or a big dose of protectionism, for example. However, the downward macroeconomic momentum looks bigger than in either 1974 or 1982, bear markets that both brought real-term drops of slightly more than 50% from previous highs.
The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year ... The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008. That means that every American household is on the hook for $109,887 for the bailouts.
Economy in 'emergency situation,' Finance Minister Steinitz warns - May 19 The economy faces an "emergency situation," Finance Minister Yuval Steinitz warned on Monday, while urging lawmakers to support the government's draft budget, as Israeli exports plunged 32 percent in the first four months of this year
Davidowitz Calls Bank Stress Tests "A Con Game" And Says "The Worst Is Yet To Come" - May 19 Harold Davidowitz is a an analyst and consultant to the retail industry operating his own firm Davidowitz & Associates. He's in the wrong industry. He should have Tim Geithner's job. This guy is a frggin' genius. Seriously, watch both clips and tell me he doesn't have a better grasp than Geithner and Summers.
Fannie and Freddie in 'critical' condition - May 19 Fannie Mae and Freddie Mac, charged with helping lead the nation out of its housing crisis, are facing "critical" financial problems, federal regulators said Monday. The companies suffer from severe financial, operational and compliance weaknesses, the Federal Housing Finance Agency said a report to Congress detailing its annual examinations of the firms. Taken over by the government in September, Fannie and Freddie are not able to operate without federal assistance.
Obama Says U.S. Long-Term Debt Load "Unsustainable" - May 15 President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. The Truth is seen below he was rejected by Saudi Arabia and China and has no choice but to say this . “We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.” 4 articles down under Obama's S.O.S. and you will see why he is now saying this = the u.s. has no one to keep funding their debt = economic crash coming soon within months so start buying food or wished you had. The wise prepare for the famine.
“The Worst Is Yet to Come" - May 15 The green shoots story took a bit of hit this week between data on April retail sales, weekly jobless claims and foreclosures. But the whole concept of the economy finding its footing was “preposterous” to begin with, says Howard Davidowitz, chairman of Davidowitz & Associates. “We’re in a complete mess and the consumer is smart enough to know it,” says Davidowitz, whose firm does consulting for the retail industry. “If the consumer isn’t petrified, he or she is a damn fool.”
Davidowitz, who is nothing if not opinionated (and colorful), paints a very grim picture: “The worst is yet to come with consumers and banks,” he says. “This country is going into a 10-year decline. Living standards will never be the same.”
Los Angeles Facing Fiscal Emergency Declaration - May 15 Layoffs and mandatory furloughs are no longer an option but a necessity, Mayor Antonio Villaraigosa told City Council members Tuesday in a letter that asks them to declare a fiscal emergency.
GM tells 1,100 dealers they will be shut down - May 15
Sony reports $1 bln annual loss, first in 14 years - May 15 Sony Corp. reported its first annual net loss in 14 years and forecast a bigger loss this year, saying the pressure from sliding sales, competition in gadget prices and a strong yen was expected to continue.
US Apr Industrial Production -0.5%; Consensus -0.6% - May 15 U.S. industrial production tumbled a 15th time in 16 months during April, cut down by massive business inventory liquidation. Industrial production decreased by 0.5% in April compared to the prior month, the Federal Reserve said Friday. Output fell 1.7% in March, revised from a previously estimated 1.5% decline. Capacity utilization shrank in April to 69.1%, a historical low since records began in 1967. March capacity use was a revised 69.4%; originally, "cap-U" was estimated at 69.3% in March. The 1972-2008 average was 80.9%.
Massive Inflation is on the Way - John Browne of Euro Pacific Capital on Fox News - May 13 Must watch video Governments Will Need to Issue $15-33 Trillion in Bonds - May 13 I need to put the $33 trillion into perspective, because it is so big that it is almost incomprehensible. According to Wikipedia..., total private wealth across the world today is about $37 trillion less the losses incurred in 2007-09, so the real number is probably closer to $30 trillion now. Total global savings (loosely adjusted for the big losses in 2008) are probably somewhere in the region of $100 trillion. In other words, financing this crisis could absorb one-third of total global savings...
START BUYING FOOD ... WHAT MORE DO YOU NEED TO SEE.
Actual Bailout May Exceed $10 Trillion - May 13 The current block of taxpayer money that has been pledged by the US government and the Federal Reserve to prevent the system from collapsing, according to an analysis by Bloomberg News, is roughly $12.8 trillion as of March 31. This money has been lent, spent or guaranteed to prevent a systemic collapse. You can not buy your way out of debt with debt = massive collapse is in our future.
Foreclosures: 'April was a shocker' - May 13 April foreclosures rise 32 percent - May 13
Obama's SOS to Gulf emirs: Invest in US and global economies - May 13 DEBKAfile's exclusive Gulf sources report. They came away empty-handed. Gulf officials were
informed on the quiet that Federal Reserve Governor Ben Benanke had
been "premature" in his latest
optimistic forecast.
U.S. Economy: Retail Sales Unexpectedly Fall for Second Month - May 13 Retail sales in the U.S. unexpectedly dropped in April for a second month, indicating that rising unemployment is prompting consumers to conserve cash. The 0.4 percent decrease followed a revised 1.3 percent drop in March that was larger than previously estimated, the Commerce Department said today in Washington. Other reports showed companies continued to cut stockpiles as demand slowed, and climbing oil costs pushed up prices for imported goods. Fewer jobs, falling home values and the biggest loss of household wealth on record may limit consumers’ ability to spend for years, analysts said. Stocks dropped for a third day as the reports indicated any recovery from the worst recession in at least half a century is likely to be subdued. “It looks like consumers are losing momentum heading into the second quarter and that is a very worrisome development,” said Carl Riccadonna, an economist at Deutsche Bank Securities Inc. in New York. “They have very significant headwinds and number one among them is that the labor market is far from turning the corner.”
Banks loan loss rate will be much worse than the 1930s! - May 12 Last month, banking
analyst Mike Mayo predicted that loan loss rates could go as high as
5.5%, which is substantially higher than during the 1930s.
Fannie Mae: a bottomless pit for U.S. taxpayers - May 12 Fannie’s regulator wants $19 billion from the U.S. government because the firm has negative capital. Fannie Mae had $23.2 billion in losses last quarter alone. And it says losses in 2009 will be worse than 2008.
It is hard to believe what is taken as good news. 539,000 jobs were lost in April yet this was taken as a positive because it wasn’t 600,000. Forget about the fact that the revised number for March was moved upward to 699,000 from an initial 663,000. So it may be the case when the final number for April is calculated in June, we might have another 600,000 job loss month.
White House: Budget deficit to top
$1.8 trillion
- May 12
Budget deficit to top $1.8 trillion; 4 times 2008's record -Government borrowing 50 cents for every dollar it spends - May 11
Bilderberg Group Plans Economic Depression - May 9 These people who control this chaos have option two to crash the economy in the coming months. Preparing for option two if you see this flu scare become a forced vaccination then all hell will break loose soon after through Project Blue Beam
Imminent Global Stock Market Crash to Support U.S. Dollar - May 9 A world stock market collapse could be imminent as a source of dollar support. We wonder how low they will let the dollar go before they collapse the stock markets to chase people back into US treasuries, which have also broken down, with treasury interest rates on the rise despite various Fed purchases of treasuries in the hundreds of billions.
Short Sales: Banks Blocking Way Out Of Foreclosure Crisis - May 8 According to one analysis, short sales resulted in loan losses of only 19 percent, compared with an average loss of 40 percent on homes sold after foreclosure. So why aren't these sales more widely used? The broad answer is that the American financial system simply can't handle a collapse of this magnitude. The fates of the banking and real estate industries are intertwined. But they don't work together and the result is that they end up working against each other.
U.S. banks rush to raise capital - May 8
European banks' bad debts soar - May 8
Global Crisis ‘Vastly Worse’ Than 1930s, Taleb Says - May 8
The New York Times - MICHAEL J. de la MERCED - GMAC, Among the Weakest, Seems in Line for a Bailout -It looks as if one more bank needs a bailout. And, four months ago, this bank was not even a bank. GMAC must raise a staggering $11.5 billion in capital, the equivalent of roughly half its current equity.
GM reports six billion dlrs loss in first quarter - May 7 Troubled US auto giant General Motors on Thursday reported a net earnings loss of six billion dollars in the first quarter, as it faced the prospect of bankruptcy saddled with mounting debt.
Bank of America comes up $34bn short in stress test - May 6 The US government has told BoA to bolster its capital cushion and similar instructions are expected at up to 10 other banks
Wells Fargo said to need $15 billion - May 6 Wells Fargo & Co., the fourth-largest U.S. bank by assets, requires about $15 billion in new capital as a result of regulators' stress test on the lender, according to a source familiar with the matter.
Almost a Quarter of U.S. Homeowners Are Underwater - May 6 A growing number of U.S. homeowners owe more than their properties are worth after prices extended their two-year decline in the first quarter, Zillow.com said. About 21.8 percent of all owners were underwater as of March 31, the Seattle-based real estate data service said in a report today. At the end of the fourth quarter, 17.6 percent of homeowners owed more than their original mortgage, while 14.3 percent had negative equity three months earlier. Property values dropped 14 percent from a year earlier in the first quarter, reducing the median value of U.S. single- family homes, condominiums and cooperatives to $182,378, Zillow said. The decline has left about 20.4 million of the U.S.’s 93 million houses, condos and co-ops with loans higher than the properties are worth. The gain in underwater homeowners will lead to more bank repossessions, Zillow said. Many owners “would be more willing to bear the financial consequences of bankruptcy or foreclosure,” Stan Humphries, Zillow’s vice president of data and analytics, said in an interview. “You are going to continue to see home prices fall for the rest of this year and some portion of next year.”
EU revises forecast; predicts deep, wide recession - May 4
The Next Wave of the Real Estate Collapse - May 4 Thought that subprime housing was the only real estate market with big problems? Think again. The reason that you've only heard about subprime mortgages is because most of them were due to "reset" over the past year and a half, which was accomplished by the banks taking mortgage cartridges out of the system, blowing into them several times, and putting them back in. In layman's terms, a mortgage "reset" is a part of many mortgage contracts that generally calls for either a payment of a certain amount to be made after five to seven years, or for the mortgage to be re-negotiated after that same period of time (or both).
Swine flu: 'All of humanity under threat', WHO warns - Apr 30 <--- Horribly exaggerated or heavily under reporting the real death count to get this thing really going. Do not live by fear live by faith and God promised to protect you. Fear is the key tool to trauma based or fear based mind control which trough microwave (towers) frequencies they can speak at a low volume into a humans head = see it here -> DOCTOR SHARP'S Joseph Sharp's voice to skull success, performed with Dr. James C. Lin's pulsed microwave transmitter, and publicly announced in 1974 at the University of Utah: March 1975 "American Psychologist" journal excerpts, and other voice to skull references. AUDIBLE sound transmitted directly into a target's skull, through a target's wall, of course, can drive the through-the-wall target crazy, and if the target complains, the target will be immediately diagnosed as mentally ill. The perfect crime.
Car Giant Chrysler Files For Bankruptcy - Apr 30
Swine flu prompts Mexico to shut down economy - Apr 30 Buy when you should sell, sell when you should buy, and now the country of Mexico just brings it's economy to a devastating halt and the stop market climbs .... yep all you stupid people get in while you still can before it completely collapses...do not sell thats for wise people who can see... hurry it's sinking get in.
U.S. Commerce Department: U.S. economy worst in 50 years - Apr 29 It's official. The United States is mired in its worst economic downturn in half a century, the U.S. Commerce Department reported Wednesday.
GDP Down 6.1%, Reflecting Continuing Economic Woes - Apr 29
Swine flu fear catching fast in weak world economy - Apr 28 The swine flu outbreak is unleashing a side effect the global economy is in no condition to handle. Start buying your food and your seeds now or you will not get the chance soon!
Jim Rogers The Swine Flu could be a Disaster for world Economy - Apr 28
Swine flu outbreak dampens economy hopes, markets - Apr 27
China calls for reform of global monetary system - Apr 27 It is called the New World Order were the pope rules the world.
Japan facing worst economic outlook on record - Apr 27
World Bank: Economic crisis turning into calamity - Apr 27
Russia's economy shrank 9.5% in first quarter - ministry - Novosti - Apr 24
UK economy slumped by 1.9pc in first three months of 2009 as recession deepens - Apr 24
GM
plans to
close 15 plants for 9 weeks
- USA Today - Apr 23
U.S. Is Said to Prepare Filing for Chrysler Bankruptcy - Apr 23 The Treasury has an agreement in principle with the U.A.W. to protect pensions and retiree health benefits as part of the filing, people with knowledge of the action said.
This was only a matter of time. Everyone from inside and outside GM assumed that the company would default on its debt and likely go bankrupt barring some miracle. But now it's official. The company's CFO says the firm will not make its June 1, $1 billion debt payment reports WSJ. The announcement comes as smaller rival Chrysler appears headed for liquidiation.
'Deeper' recession ahead says IMF - Apr 22
UK budget deficit hits record Ł90bn - The deterioration in the public finances is unprecedented - Guardian - Apr 22
Banks pull stock market higher after sell-off - Apr 21 stress tests" designed to determine whether banks have enough capital to survive if the economy turns even worse. The results are due May 4.
The International Monetary Fund (IMF) has warned that potential losses from the credit crunch could reach $4 trillion - Apr 21
Housing Bust Comes Roaring Back, Worse Than Ever - Apr 20 Due to the lifting of the foreclosure moratorium at the end of March, the downward slide in housing is gaining speed. The moratorium was initiated in January to give Obama's anti-foreclosure program a combination of mortgage modifications and refinancing a chance to succeed. The goal of the plan was to keep up to 9 million struggling homeowners in their homes. But it's clear now that the program will fall well-short of its objective.
Traders, Not Investors, Fueling This Stock Rally: NYSE Chief - Apr 17 Wall Street's stunning six-week rally has been fed more by traders looking to take advantage of quick swings in the market than investors with a long-term view, NYSE Euronext (NYSE:NYX - News) CEO Duncan Niederauer told CNBC. Because of that, the rally likely is to run out of steam as low volume eventually comes back to the bite the market, he said.
This recession is already the longest since the Great Depression. Now merely saying that this recession is the longest does not expose the magnitude and depth of the economic damage inflicted on the market. $11.2 trillion has been wiped off the balance sheet of American households.
\Overwhelmed Illinois Court Postpones Foreclosures Until September - Apr 16 Citing a backbreaking caseload of foreclosures, the court serving the nation’s second-most populous county has decided to postpone most foreclosures until September, while it attempts to work through tens of thousands of existing filings. Cook County, Illinois is home to Chicago and surrounding areas and is also traditionally a foreclosure hotspot.
Geithner and Summers Want More Debt Bubbles: The Result Could Be Catastrophic - Apr 16 The Geithner/Summers plan seems to hinge on reinflating the debt bubble. The outcome will be inflation, a more serious crash, or both. comment from what really happened dot com's writter = Remember when I described the bailout as taking a trillion from the people to give to the banks to loan back to the people? Here it is .
US banks step up home foreclosures - Apr 16 One day after President Barack Obama defended the multi-trillion-dollar bailout of the banks and pledged to funnel more taxpayer funds into their coffers, the Wall Street Journal published a front-page article headlined “Banks Ramp Up Foreclosures.”
Jobless claims top 6M; housing starts plummet - Apr 16
General Growth Files Biggest U.S. Property Bankruptcy - Apr 16 General Growth Properties Inc. filed the biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt during an acquisition spree that turned it into the second-largest shopping mall owner. Here comes the commercial real estate crash.
Stores suffer big drop in March sales - Apr 14 Retail sales suffered an unexpected big decline in March which broke two straight months of improving sales, the government reported Tuesday. The Commerce Department said total retail sales fell 1.1% last month, compared with February's revised gain of 0.3%. Sales in February were originally reported to have dipped 0.1%.
Retail sales show recession far from bottom - Apr 14
Massive wave" of foreclosures coming - Apr 11
Experts brace for new wave of foreclosures - Apr 11 A new crushing wave of foreclosures is expected to wash through Riverside County's fast-growing suburbs, a second housing bubble that is about to pop.
Pentagon budget envisions a series of Iraq-style wars - Apr 9 At a formal press announcement Monday and in media appearances over the next day, US Secretary of Defense Robert Gates unveiled the biggest military budget in world history, in anticipation of an endless series of Iraq and Afghanistan-style wars by American imperialism.
Federal Reserve Sees Economy Worsening - Apr 9
Japan unveils record $154 billion stimulus plan - Apr 9
Obama campaign promise was to immediately bring the troops home from Iraq = Liar
Pentagon preps for economic warfare - Apr 9 The Pentagon sponsored a first-of-its-kind war game last month focused not on bullets and bombs but on how hostile nations might seek to cripple the U.S. economy, a scenario made all the more real by the global financial crisis.
Simply accepting Washington’s well-intended but ill-designed stimulus efforts for South Carolina would indeed move us from courting disaster to guaranteeing it.
U.S. Retail Chains Report Another Sales Drop in March - Apr 9 Major chains on Thursday reported March sales results that were worse than their February figures, though the rate of economic deceleration that plagued stores during the holidays has slowed a bit. Sales for the overall retailing industry fell 1.8 percent, according to Thompson Reuters.
Job cuts needed to stop NY bankruptcy: mayor - Apr 9
Sweeping layoffs of government
employees are needed to prevent New York going bankrupt,
Mayor Michael Bloomberg
said Thursday.
Bloomberg, who is in tense negotiations with municipal workers' unions, said an extra 7,000 jobs would have to go unless major reductions are made in employee benefits.
The G20 moves the world a step closer to a global currency - Apr 8 A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. “We have agreed to support a general SDR allocation which will inject $250bn (Ł170bn) into the world economy and increase global liquidity,” it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century. In effect, the G20 leaders have activated the IMF’s power to create money and begin global “quantitative easing”. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it. It has been a good summit for the IMF. Its fighting fund for crises is to be tripled overnight to $750bn. This is real money.
Richard Russell: Bear Market Will Last Longer, Go Deeper Than People Expect - Apr 8 Yahoo! Finance -As in the accompanying video, Russell pulled no punches when he was (inevitably) asked for his views on the market: "This bear market will be deeper and longer than most people think," said the legendary market watcher. "People got optimistic too quick" about the recent rally, which he says is doomed to fail. "None of the characteristics of a major bottom" are evident, most notably dirt cheap valuations.
U.S. deficit nearly $1 trillion in first half of 2009 - Reuters - Apr 8
Swiss slide into deflation signals the next chapter of this global crisis - Apr 7 Watch Switzerland closely. It is tipping into deflation, the first Western country to succumb to Japan's disease.
Bernanke's Financial Rescue Plan: The growing prospect of a U.S. default - Apr 7 Fed chief Ben Bernanke has embarked on the most radical and ruinous financial rescue plan in history. According to Bloomberg News, the Fed has already lent or committed $12.8 trillion trying to stabilize the financial system after the the bursting of Wall Street's speculative mega-bubble. Now Bernanke wants to dig an even bigger hole, by creating programs that will provide up to $2 trillion of credit to financial institutions that purchase toxic assets from banks or securities backed by consumer loans. The Fed's generous terms are expected to generate a flurry of speculation which will help strengthen the banking system while leaving the taxpayer to bear the losses.
Mortgage delinquencies soar in the U.S. - Apr 7 More U.S. consumers are falling behind on their mortgages, an indication that the housing market has yet to hit bottom, a top credit bureau executive told Reuters (April 7). U.S. Information Systems for Equifax Inc, reported that 7 percent of homeowners with mortgages were at least 30 days late on their loans in February, an increase of more than 50 percent from a year earlier.
He also said 39.8 percent of subprime borrowers were at least 30 days behind on their home mortgage loans, up 23.7 percent from last year.
Quarter of Companies Globally Plan to Freeze Pay - Apr 7 A quarter of the world's companies, and 40 percent in the United States, plan to freeze salaries this year, but employees in South America and India can look forward to robust rises, a global survey shows on Tuesday.
Toxic debts could reach $4 trillion, IMF to warn - Apr 7 The IMF said in January that it expected the deterioration in US-originated assets to reach $2.2 trillion by the end of next year, but it is understood to be looking at raising that to $3.1 trillion in its next assessment of the global economy, due to be published on April 21. In addition, it is likely to boost that total by $900 billion for toxic assets originated in Europe and Asia.
Greece Teeters on the Verge of Bankruptcy - Apr 7 Greece is on the brink of bankruptcy despite the fact that the global recession has yet to hit the country with full force. Strikes are paralyzing the country and the EU is putting on the pressure. But the government is still trying to put a positive spin on things.
Mass protest in Rome over financial crisis - Apr 6
Global Financial Collapse - Apr 5 Get your money out of the bank fast < --- watch video below
Part 2
http://www.youtube.com/global financial collapse part 2
U.N. Secretary general Ban Ki-moon says he fears Global Collapse - Apr 2 What began as a financial crisis has become a global economic crisis. I fear worse to come: a full-blown political crisis defined by growing social unrest, weakened governments and angry publics who have lost all faith in their leaders and their own future.
G-20 gives $1 trillion to fight global crisis - Apr 2
British Prime Minister Declares ‘The New World Order is Emerging’
Watchdogs: Treasury won't disclose bank bailout details - Apr 2 The massive programs designed to rescue the nation's financial sector are operating without adequate oversight, with vague goals and limited disclosure of their details to the taxpayers who are paying for them, government watchdogs told a Senate panel Tuesday.
FTSE 100 back over 4000 as global stock markets rally on G20 hopes - Guardian - Apr 2
New US jobless claims hit 669,000 in week ending Mar 28 - Apr 2
Financial Rescue Nears GDP as Pledges Top $12.8 Trillion - Apr 1 Can you calculate how much the bail out has risen and how fast ... crash is imminent
Bloomberg:Financial Rescue Nears GDP as Pledges Top $12.8 Trillion - Apr 1
Last Friday, the Office of the Comptroller of the Currency reported that for the first time in history commercial US banks have suffered a $3.4 billion quarterly loss in a giant sector that they thought, until now, was solid: that is, bets on interest rates. The loss was more than seven times worse than their previous quarterly loss in that category.
ADP Says U.S. Companies Reduced Payrolls by 742,000 in March - Apr 1 Companies in the U.S. cut an estimated 742,000 workers in March, pointing to no relief in sight for the labor market amid the longest recession in seven decades, a private report based on payroll data showed today. U.S. HAS A POPULATION OF 300,000,000 AND NEARLY 1,000,000 JUST BECAME UNEMPLOYED IN ONE MONTH.
Ford Sales Down 41 Percent in March, VW Drops 20 Percent - Apr 1
U.S. plans to ease GM into bankruptcy - Apr 1
G20 leaders get OECD warning that global trade is in freefall - Apr 1 World leaders gathering for Thursday's G20 summit in London were warned today by the Organisation for Economic Co-operation and Development that the world economy was shrinking much faster than previously thought and that global trade was in freefall.
AIG crisis could be the tip of an
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