It may crush the existing structure of Fannie and Freddy and drag the economy further down, no matter how many dollars the fed throws at it
here are the events:
each individual event will have no visible effect, but combined will crash the economy:
these are all pending events, many listed on MW as individual events, but no one looks at them all together - but that is how we will feel them in our wallets
financial:
- the next wave of ARMs will start to reset,
- mortgage rates will go up,
- the next wave of foreclosures will hit,
- the default on holiday expenditures will cause more chapter 7 and 13 filings,
- retailers will know how little they made, and many will go chapter 11, or just close
taxes:
- the fed will start seeing how little revenue they got from business because of COBRA extensions and funding, and push for new taxes
- states will start locking in on the lower incomes from wage taxes, and looking to raise taxes,
LINK HERE
Will The Next War Be Fought Over Water?
LINK HERE
Sadly this sounds correct.
ReplyDeleteI can't see how the system can do anything other than implode.
Too late amigo I saw it two
ReplyDelete5:44 I totally agree! I thought it would have already taken place. However, things run "as normal." My wife and I returned some Christmas presents to the mall today and it was packed! Malls, restaraunts, and retailers--around here--are packed. Perhaps the whole economy is paradoxical and I am to ignorant to connect the dots. Good luck to all in the New Year!
ReplyDeleteEveryone needs to start displaying their American flags upside down, as we are in DISTRESS!
ReplyDeleteAnd remember...
Corporate America has done it to us!
So logic (?) says the economy can't recover from this. The government is spending like drunken sailors - so what happens? Just make preps in case it goes down but continue as though it won't?
ReplyDeleteIf our owners don't do a massive false flag, I don't think there will be a SHTF day. I think instead that they have just decided to vampire us slowly to death. It will continue into 2011-2014 and by then we will be third world.
ReplyDelete8:05 The TRUTH is no one knows - I have asked that exact question so many times I'm tired of seeing it in print. No one knows - if they did
ReplyDeletethey wouldn't be spouting off here; would be too busy on that new course ( whatever that might be).
It seems to be the flavor of the day syndrome - some big shot know it all says this is what's going to happen; 1,000 people see it; tell another 1,000 before you know it - it's the new floavor of the day - including I might add this administrator whom is really good at digging this stuff up ! Was there NOTHING good going on
in our economy in December ?? NOTHING ??? 'Cmon
6:39
ReplyDeleteThe malls may be packed, but are they buying anything? When they leave the mall, are they carrying any shopping bags? If so, did they follow the example of the Federal Government and buy a bunch of stuff with credit cards, knowing full well they will never be able to pay it back? If I had a bunch of credit cards (I have not had a single one since the early 1980's) I would max them out, buying guns, ammo, non-perishable food.
In this post SHTF United States, many will be living in small, remote, self sufficient communities. The Feds will come to take you away "for your own safety", will you be able to fight back? In post SHTF, there will be no rules of engagement in my play book.
One of the biggest reasons the malls, restaraunts are more packed than economic reaility would suggest is that many have stopped paying their mortgages or walked away from a home and rented cheaper freeing up some cash. Total spending per person is way way down though - tax revenue shows this.
ReplyDeleteOn bankruptcy - there are a TON of debtors in waiting - those that were waiting till first quarter of the year to file bankruptcy for old income from when they were last gainfully employed to fall off to pass means test for example. Which is one the the most foolish examples of the bankruptcy changes, people who have lost jobs/income/salaries they will never again get and know this yet have to wait for their old income to fall off their previous 6 months to file.
The forums I read about BK prove it - there will be an EPIC FLOOD of BK's, coming soon to, well, everywhere
governemtn spending has kept us afloat longer than I could have ever imagined but as the saying goes, it will continue along till it won't. Gravity will eventually take back hold and all those lead ballons the powers that be were juggling will eventually fall - and HARD
I do not know about anyone else but I did not go to the Mall or any store for Christmas. I also have quit going to restaurants at all.
ReplyDeleteI notice that about 25% of the Industrial Park buildings are now "available".
I know many many people that have lost their jobs and cannot get another job and they have been trying. So the unemployment must be higher then the 10% on the News.
6:37 I am stealing that one from you - 'cause that's the real truth - it will continue along til it won't - that's a classic !
ReplyDelete