The government is running out of ways to help the economy as the US faces major issues regarding credit and employment ahead, banking analyst Meredith Whitney told CNBC.
"I think they're out of bullets," Whitney said in an interview during which she reinforced remarks she made last month indicating she is strongly pessimistic about the prospects for recovery.
Primary among her concerns is the lack of credit access for consumers who she said are "getting kicked out of the financial system." She said that will be the prevailing trend in 2010.
Despite being able to borrow at near-zero percent interest, banks are not taking that money and putting it back into the marketplace. The Federal Reserve said Monday that consumer lending dropped 1.7 percent on an annualized basis in October, the ninth straight monthly decline.
LINK HERE
Prepare for the Great Depression.
Survival Seeds
Of course they are out of bullets ... Americans are buying all of the ammo in record amounts they know what is coming. Lead is the other precious metal :)
ReplyDeleteInternational Forecaster's Bob Chapman is saying likely US Dollar devaluation probably around Sept-Dec 2010 and that would likely include a bank holiday.
Yep just got some more PMs myself. 00 Shot.
ReplyDeleteOn a lighter note, there is a bar band here in town called Stimulus Package. When I saw the sign I laughed for a minute. Funny stuff.
ReplyDeleteI honestly wonder if it will get as bad as they say it will. I have made preps, at the constant ridicule of my wife and friends, but nothing happens to justify my purchases. I give up. It's not bad at all in my region, uppper Midwest, and this only adds to my plight. I feel like somedays it would be more productive to piss into the wind, at least I would have something to show for it.
ReplyDeleteAnyone else feel this way?
11:41am, it's a game. The universe knows you're trying to save your life, and it's going to outsmart you. It's gonna toy with you until you give up and divest yourself of all preperations
ReplyDeletethen WHAM it'll get yah.
It's all a vast conspiracy against you.
11:41 - Man; do I feel your pain or what -- most folks that think like us -- just won't admit it ! I have been listening to this armaggedon shit for 20 friggin' years and thinking about it
ReplyDeletefor 30!! I've had it -- what will be; will be what the hell are we really gonna do about it anyway - besides nothing. I love these comments about how dumb we are; how lazy we are; how we're sheeple - how the banksters are in control; shit man --- if something bothers you; get off your ass and change it ! Otherwise STF up. If they do control "us" it isw our own making - how can they tax something they don't know about?? how can big oil swindel you for 3.00 gas if you vehicle runs on CNG?? How can corn go for 10.00 a bushel if you can nad do grow your own -- we all ( including me ) have a really nasty tendancy to talk too friggin' much - shut up and go to work.
2:33 thats EXACTLY what the Gov't wants you to do. Shut up and go to work! We'll take care of the fraud and media propaganda. Now go pay your BILLS IMMEDIATELY! SHEEP!
ReplyDelete1141: I feel your pain! Hang in there, things will not or are not collapsing all at once. Its a slow decline, by design.
ReplyDeleteYes, I have food, ammo, gold & silver etc and I am very happy about it. In a best case scenario and the economy picks up and we come out of the depression (highly unlikely), I can eat the food, spend the gold & silver and shoot the bullets. Not a bad thing. Most likely, however, the economy will collapse in 2010 with food shortages. We will be prepared!
Screw your friends, I have given up on my TV addicted sheeple friends, they live in a fantasy land, you & live in reality!
2:45 - That's not what I meant when I said "go to work" - I mean ---- go to work for you and your family - set YOURSELVES up as you see fit !!
ReplyDeleteIf you think the banksters are screwing you - USE CASH ONLY !! How many of these people posting here want to bitch about the banks and yet have 3 credit cards, an ATM , a car payment, a house payment - give me a friggin' break - how the hell do you think these banksters continue ??
If you think the 2nd ammendement is under fire - by all means- get yourself some firearms and understand how to use them ! Got a problem with bug Oil ? I did --- now I have afleet of 11 vehicles that ALL RUN ON NAT. GAS !!!!! I just think all this is a long, long way from this collapse shit that some people seem to be just waiting to happen - like I said before - what are you gonna do mabout it -- go to work man - go to work and let the chips fall where they may - it will be the above mentioned folk that are positioned best in any case scenario anyway.
Don't live to work man -- work to live.
Everyone! don't tell anyone what your preps are or how much! In your immediate family; don't tell children, or teens !..you and your spouse must be very confidential and quiet! tell no one about the rifles, handguns, silver, etc. When things get bad you won't even be able to even trust your relatives, neighbors, even long time friends!!! Listen, even in good times these folks can "pull a number" on you, rip you off,spread gossip, lies, etc. I also have heard this stuff for many yesrs; but now I'm taking it seriously more than ever!! Others will sell you out for perks!
ReplyDeleteLaura, that is some of the best advice given here in ages. I totally agree.
ReplyDeleteOh, god, actually that is terrible advice. Fear mongering at its finest. What we ACTUALLY NEED IS TRUTH AND NETWORKING IN OUR FRIENDS, FAMILY, AND NEIGHBORS. You think you can survive as a one man(or woman)army? Let's see how long you last. Meanwhile, the smart ones will be helping others and getting help in return.
ReplyDeleteTRUTH=Trust, sorry
ReplyDeleteLaura, you are 100% correct and I have made the mistake of sharing more than I should but I make sure to make adjustments for that now. Sadly, I am a giving person and that will be my downfall.
ReplyDeleteIf you want to know what it will be like just study how Tyrannical Dictatorships/Marshall Law states operated in the past.
When Stalin had his goons go door to door they would ask each person to name five names of people that may have guns, stored food or assets. If the person could only name four, they were considered name #5 and taken out to be shot or put under hard labor.
That is exactly how it will work again. People will rat out their closest friends or even family in order to be left alone.
BTW, a bit of sheeple history - currently Russians are being asked to decide who should be considered their greatest national hero. #3 on the list is Stalin. A mass murderer, genocidal maniac. Probably second only to Pol Pot.
The only thing I can figure anymore is that it is in our DNA to be sheep. That instinct must be fought with all the will power a person can muster.
Google the video Stalin - Man of Steel. Learn how is was and therefore how it shall be.