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Old 02-13-2009, 04:06 AM   #1
NorthernSanctuary
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Default 2009: Worst economic collapse ever

In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster with an impressive track record. He believes its going to be very violent in the U.S., including there being a tax revolt.

Video at :

http://www.freedomsphoenix.com/Find-...&From=News
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Old 02-13-2009, 04:31 AM   #2
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Default Re: 2009: Worst economic collapse ever

Thanks for that NorthernSantuary, I like listening to Gerald Celente. He delivers a clear message.
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Old 02-13-2009, 04:46 AM   #3
NorthernSanctuary
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Default Re: 2009: Worst economic collapse ever

Carmen: ....I like listening to Gerald Celente. He delivers a clear message.

Yes, I thought so too, and very believable.
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Old 02-17-2009, 08:38 PM   #4
skyrimirre
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Default Re: 2009: Worst economic collapse ever

from the comments on this article

# americafirst Says:
February 11th, 2009 at 6:38 am

“FEMA Prison Blues”

I hear the FEMA trains a comin’
They’re rolling round the bend
And I ain’t seen the sunshine since I don’t know when,
I’m stuck in FEMA prison, and time keeps draggin’ on
But that train keeps a rollin’ on down to San Antone..
When I was just a truther Obama told me, Son,
Always be a good boy, or I’ll take away your guns.
But I shot a Fed in Reno just to watch him die
When I hear that whistle blowing, I hang my head and cry..

Well if they freed me from this prison,
If that railroad train was mine
I bet I’d move it on a little farther down the line
Far from FEMA prison, that’s where I want to stay
And I’d let that lonesome whistle blow my blues away….
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Old 02-17-2009, 10:11 PM   #5
Steve_A
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Default Re: 2009: Worst economic collapse ever

Hi NorthernSantuary,

I imagine that Gerald Celente could very well be right. I also imagine that the US and European economic crises' will eventually reach down here in Brazil.

However, we need to shout loudly also when we have good things to say. So the sales of cars in Brazil in the first half of February rose 8% in relation to the same time in January, and 3,5% in relation to the same time last year. Okay the government had reduced a 7% tax on some models and it's mainly these models that have sold more, but all the same there was an increase.

The banks down here are not suffering too much at the moment as the risk factor is a lot less. However, the international banks loke HSBC, Unibanco AIG and others are more prone to weakness because of their ties. The independent banks (Brazilan) seem to be at the moment in the pink.

Economic collapse is like a domino effect, so I'm here near to the end of the line of dominos with a little bit more time to see it all play out.

So far it's been very interesting.

Best regards,

Steve
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Originally Posted by NorthernSantuary View Post
In 2009 were going to see the worst economic collapse ever, the Greatest Depression, says Gerald Celente, U.S. trend forecaster with an impressive track record. He believes its going to be very violent in the U.S., including there being a tax revolt.

Video at :

http://www.freedomsphoenix.com/Find-...&From=News
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Old 02-18-2009, 12:18 AM   #6
Rareheart
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Default Re: 2009: Worst economic collapse ever

Rampant consumerism has to consume itself eventually.

"the candle that burns twice as bright burns half as long"
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Old 02-18-2009, 12:23 AM   #7
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Default Re: 2009: Worst economic collapse ever

Well, it seems quite a struggle here at the moment in the UK. Local jobs are scarce if at all, prices are rising for food and fuel, and we are being told to go to europe to get a job for < 50p per hour??

Things look quite bad..
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Old 02-18-2009, 12:34 AM   #8
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Default Re: 2009: Worst economic collapse ever

Quote:
Originally Posted by Ammit View Post
Well, it seems quite a struggle here at the moment in the UK. Local jobs are scarce if at all, prices are rising for food and fuel, and we are being told to go to europe to get a job for < 50p per hour??

Things look quite bad..
joining the EEC was certainly over-rated, i'd say.
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Old 02-18-2009, 12:43 AM   #9
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Default Re: 2009: Worst economic collapse ever

California to lay off 20,000 amid budget woes

The Associated PressPublished: February 17, 2009

SACRAMENTO, California: California, the most populous of the U.S. states, is on the verge of starting to lay off some 20,000 government workers because of a budget stalemate.

In addition to the layoffs, the state also plans to halt all remaining public works projects, potentially putting thousands of construction workers out of jobs.

"We are dealing with a catastrophe of unbelievable proportions," said state Sen. Alan Lowenthal, a Democrat from Long Beach and chairman of the Senate transportation committee.

Senate leader Darrell Steinberg announced late Monday that lawmakers had failed to find a final vote in his chamber as Republicans refused to support tax increases.

He called a session for Tuesday and said he would put the tax provisions of the budget proposal up for a vote, even if they would not pass.

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In Kansas, meanwhile, officials said Monday that the state has suspended income tax refunds and may not be able to pay employees on time.

The state doesn't have enough money in its main budget account to pay its bills, prompting Democratic Gov. Kathleen Sebelius to suggest borrowing $225 million from other accounts throughout state government. But the move required approval from legislative leaders, and Republican leaders refused Monday.

Budget Director Duane Goossen said that without the money, he's not sure the state can meet its payroll. About 42,000 state employees are scheduled to be paid again Friday.

In California, the notices of layoffs will start going out Tuesday to 20,000 workers in corrections, health and human services and other agencies that receive money from the general fund. Administration officials are seeking to eliminate up to 10,000 jobs as part of the governor's order to cut 10 percent from the government payroll.

The procedure to lay off a large number of state workers takes about six months.

Regarding California's budget situation, Steinberg warned lawmakers to bring their toothbrushes, saying they would not leave until that vote was secured.

Like other states, California faces plunging tax revenue that has imperiled state services. The proposal put before lawmakers this weekend was negotiated by Gov. Arnold Schwarzenegger and the four legislative leaders and appeared to have support of the required two-thirds majority in the state Assembly.

However, it was falling one Republican vote short in the Senate, a situation that had not changed throughout a weekend marked by long hours and uncertainty over the state's future.

The plan includes $15.1 billion in program cuts, $14.4 billion in temporary tax increases and $11.4 billion in borrowing. The package also would send five ballot measures to voters in a special election to be held May 19.

The stalled effort prompted Schwarzenegger to make good on an earlier promise to begin the layoff process for thousands of state workers.

The governor had delayed releasing the notices on Friday when it appeared lawmakers would pass a compromise plan to close the state's $42 billion shortfall. But with marathon weekend sessions failing to produce the necessary votes, Schwarzenegger's spokesman said the administration had no choice.

Despite the warnings of impending fiscal calamity, most rank-and-file Republicans have refused to agree to higher taxes. Republican lawmakers blamed Democrats for years of overspending.

http://www.iht.com/articles/ap/2009/...ia-Layoffs.php
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Old 02-18-2009, 01:15 AM   #10
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Default Re: 2009: Worst economic collapse ever

maybe, they should stop all members of congress - their pension checks

serve 1 term, get paid forever

something is wrong with that !!!
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Old 02-19-2009, 01:20 AM   #11
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Default Re: 2009: Worst economic collapse ever

OMG U.S. Military Preparing for “Violent, Strategic Dislocation Inside the United States”; Possibly from “Economic Collapse”
Quote

source link
http://www.truthdig.com/report/item/...ericas_top_spy

Bad News From America’s Top Spy

By Chris Hedges

We have a remarkable ability to create our own monsters. A few decades of meddling in the Middle East with our Israeli doppelgänger and we get Hezbollah, Hamas, al-Qaida, the Iraqi resistance movement and a resurgent Taliban. Now we trash the world economy and destroy the ecosystem and sit back to watch our handiwork. Hints of our brave new world seeped out Thursday when Washington’s new director of national intelligence, retired Adm. Dennis Blair, testified before the Senate Intelligence Committee. He warned that the deepening economic crisis posed perhaps our gravest threat to stability and national security. It could trigger, he said, a return to the “violent extremism” of the 1920s and 1930s.

It turns out that Wall Street, rather than Islamic jihad, has produced our most dangerous terrorists. You wouldn’t know this from the Obama administration, which seems hellbent on draining the blood out of the body politic and transfusing it into the corpse of our financial system. But by the time Barack Obama is done all we will be left with is a corpse—a corpse and no blood. And then what? We will see accelerated plant and retail closures, inflation, an epidemic of bankruptcies, new rounds of foreclosures, bread lines, unemployment surpassing the levels of the Great Depression and, as Blair fears, social upheaval.

The United Nations’ International Labor Organization estimates that some 50 million workers will lose their jobs worldwide this year. The collapse has already seen 3.6 million lost jobs in the United States. The International Monetary Fund’s prediction for global economic growth in 2009 is 0.5 percent—the worst since World War II. There are 2.3 million properties in the United States that received a default notice or were repossessed last year. And this number is set to rise in 2009, especially as vacant commercial real estate begins to be foreclosed. About 20,000 major global banks collapsed, were sold or were nationalized in 2008. There are an estimated 62,000 U.S. companies expected to shut down this year. Unemployment, when you add people no longer looking for jobs and part-time workers who cannot find full-time employment, is close to 14 percent.

And we have few tools left to dig our way out. The manufacturing sector in the United States has been destroyed by globalization. Consumers, thanks to credit card companies and easy lines of credit, are $14 trillion in debt. The government has pledged trillions toward the crisis, most of it borrowed or printed in the form of new money. It is borrowing trillions more to fund our wars in Afghanistan and Iraq. And no one states the obvious: We will never be able to pay these loans back. We are supposed to somehow spend our way out of the crisis and maintain our imperial project on credit. Let our kids worry about it. There is no coherent and realistic plan, one built around our severe limitations, to stanch the bleeding or ameliorate the mounting deprivations we will suffer as citizens. Contrast this with the national security state’s strategies to crush potential civil unrest and you get a glimpse of the future. It doesn’t look good.

“The primary near-term security concern of the United States is the global economic crisis and its geopolitical implications,” Blair told the Senate. “The crisis has been ongoing for over a year, and economists are divided over whether and when we could hit bottom. Some even fear that the recession could further deepen and reach the level of the Great Depression. Of course, all of us recall the dramatic political consequences wrought by the economic turmoil of the 1920s and 1930s in Europe, the instability, and high levels of violent extremism.”

The specter of social unrest was raised at the U.S. Army War College in November in a monograph [click on Policypointers’ pdf link to see the report] titled “Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development.” The military must be prepared, the document warned, for a “violent, strategic dislocation inside the United States,” which could be provoked by “unforeseen economic collapse,” “purposeful domestic resistance,” “pervasive public health emergencies” or “loss of functioning political and legal order.” The “widespread civil violence,” the document said, “would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security.”

“An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home,” it went on.

“Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States. Further, DoD [the Department of Defense] would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance,” the document read.

In plain English, something bureaucrats and the military seem incapable of employing, this translates into the imposition of martial law and a de facto government being run out of the Department of Defense. They are considering it. So should you.

Adm. Blair warned the Senate that “roughly a quarter of the countries in the world have already experienced low-level instability such as government changes because of the current slowdown.” He noted that the “bulk of anti-state demonstrations” internationally have been seen in Europe and the former Soviet Union, but this did not mean they could not spread to the United States. He told the senators that the collapse of the global financial system is “likely to produce a wave of economic crises in emerging market nations over the next year.” He added that “much of Latin America, former Soviet Union states and sub-Saharan Africa lack sufficient cash reserves, access to international aid or credit, or other coping mechanism.”

“When those growth rates go down, my gut tells me that there are going to be problems coming out of that, and we’re looking for that,” he said. He referred to “statistical modeling” showing that “economic crises increase the risk of regime-threatening instability if they persist over a one to two year period.”

Blair articulated the newest narrative of fear. As the economic unraveling accelerates we will be told it is not the bearded Islamic extremists, although those in power will drag them out of the Halloween closet when they need to give us an exotic shock, but instead the domestic riffraff, environmentalists, anarchists, unions and enraged members of our dispossessed working class who threaten us. Crime, as it always does in times of turmoil, will grow. Those who oppose the iron fist of the state security apparatus will be lumped together in slick, corporate news reports with the growing criminal underclass.

The committee’s Republican vice chairman, Sen. Christopher Bond of Missouri, not quite knowing what to make of Blair’s testimony, said he was concerned that Blair was making the “conditions in the country” and the global economic crisis “the primary focus of the intelligence community.”

The economic collapse has exposed the stupidity of our collective faith in a free market and the absurdity of an economy based on the goals of endless growth, consumption, borrowing and expansion. The ideology of unlimited growth failed to take into account the massive depletion of the world’s resources, from fossil fuels to clean water to fish stocks to erosion, as well as overpopulation, global warming and climate change. The huge international flows of unregulated capital have wrecked the global financial system. An overvalued dollar (which will soon deflate), wild tech, stock and housing financial bubbles, unchecked greed, the decimation of our manufacturing sector, the empowerment of an oligarchic class, the corruption of our political elite, the impoverishment of workers, a bloated military and defense budget and unrestrained credit binges have conspired to bring us down. The financial crisis will soon become a currency crisis. This second shock will threaten our financial viability. We let the market rule. Now we are paying for it.

The corporate thieves, those who insisted they be paid tens of millions of dollars because they were the best and the brightest, have been exposed as con artists. Our elected officials, along with the press, have been exposed as corrupt and spineless corporate lackeys. Our business schools and intellectual elite have been exposed as frauds. The age of the West has ended. Look to China. Laissez-faire capitalism has destroyed itself. It is time to dust off your copies of Marx.
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Old 02-19-2009, 02:28 AM   #12
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Default Re: 2009: Worst economic collapse ever

Q1 2009 LAYOFF LIST
Quote


The chart can be sorted by company name, date of announcement, number of job cuts and percent of work force eliminated.
Company name ↓ Date of announcement Number of jobs cut Percent of work force
Alcoa 01/06/2009 15,000 14.5%
AMD 01/16/2009 1,100 9%
ArcelorMittal 02/11/2009 9,000 3%
AstraZeneca 01/29/2009 7,400 11%
Autodesk 01/15/2009 750 10%
Barclays 01/14/2009 2,100 1.3%
Black & Decker 01/29/2009 1,200 5%
Boeing 01/28/2009 10,000**** 6%
Bon-Ton Stores 01/29/2009 1,150 3%
Bose 01/20/2009 1,000 10%
Caterpillar 01/26/2009 20,000 18%
Cessna 01/12/2009 2,000 N/A
Cigna 01/05/2009 1,100 4%
Circuit City 01/16/2009 34,000 100%*
Clariant 01/27/2009 1,000 5%
Clear Channel 01/20/2009 1,850 9%
ConocoPhillips 01/16/2009 1,300 4%
Cooper Industries 01/27/2009 2,200 7%
Corning 01/27/2009 3,500 13%
Corus 01/26/2009 3,500 10%
Cummins 01/13/2009 800 2%
Eastman Kodak 01/29/2009 4,500 18%
Eaton 01/20/2009 5,200 6%
Electronic Arts 02/03/2009 1,100 11%
EMC 01/07/2009 2,400 7%
Estee Lauder 02/05/2009 2,000 6%
Ford Motor Credit 01/28/2009 1,200 20%
GM 02/10/2009 10,000 14%******
Goodyear Tire 02/18/2009 5,000 7%
Harley-Davidson 01/23/2009 1,100 11%
Hertz Global Holdings 01/16/2009 4,000 13%
Hitachi 01/30/2009 7,000 2%
Home Depot 01/26/2009 7,000 2%
Huntsman 01/22/2009 1,175 9%
ING 01/26/2009 7,000 5%
Intel 01/21/2009 6,000*** 7%
Jabil Circuit 01/28/2009 3,000 4%
King Pharmaceuticals 02/03/2009 760 22%
Lenovo Group 01/08/2009 2,500 11%
Liz Claiborne 02/03/2009 725 8%
Logitech International 01/06/2009 500 5%
Macy’s 02/02/2009 7,000 4%
MeadWestvaco 01/15/2009 2,000 10%
Microsoft 01/22/2009 5,000 5%
Molex 01/26/2009 9,300 29%
Motorola 01/14/2009 4,000 6%
NEC 01/30/2009 20,000 7%
Neiman Marcus 01/13/2009 375 3%
Nissan Motor 02/09/2009 20,000 8%
Panasonic 02/04/2009 15,000 5%
Pfizer 01/26/2009 8,300 10%
Pfizer 01/16/2009 3,200** 3%
Philips Electronics 01/26/2009 6,000 5%
Pioneer 02/12/2009 10,000******* 16%*******
PNC Financial Services Group 02/03/2009 5,800 10%
Qwest Communications International 02/10/2009 1,700 11%
Rohm & Haas 01/20/2009 900 5.7%
Saks 01/15/2009 1,100 9%
SAP 01/28/2009 3,000 6%
SAS AB 02/03/2009 9,000 40%
Seagate Technology 01/12/2009 800 10%
Smithfield Foods 02/17/2009 1,800 3.4%
Sprint Nextel 01/26/2009 8,000 13%
Starbucks 01/28/2009 6,700 4%
STMicroelectronics 01/28/2009 4,500 9%
Texas Instruments 01/26/2009 3,400 12%
Time Warner Cable 02/04/2009 1,250 3%
UAL 01/21/2009 1,000 2%
UBS 02/10/2009 2,000 2.6%
Walgreen 01/08/2009 1,000 0.6%*****
Wellpoint 01/16/2009 1,500 3.6%
*Company in liquidation
**Includes announcements of 2,400 cuts on Jan. 16 and 800 layoffs on Jan. 13.
***Number of employees affected by plant closures, not all will lose jobs
****Includes Jan. 9 announcement of 4,500 layoffs from commercial-airplane staff
*****Represents 9% of eligible positions at its corporate offices and certain field-management positions
******14% of salaried work force
*******Cutting 6,000 permanent jobs, or 16% of global work force, plus 4,000 temporary job.

http://blogs.wsj.com/economics/2009/...wsjnf0209a_ql6
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Old 02-20-2009, 03:08 AM   #13
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Default Re: 2009: Worst economic collapse ever

It’s Getting Ugly: Economist Says Hoard Gold & Scotch
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Respected economist John Williams, editor of ShadowStats.com, a popular website that tracks real inflation figures, is advising that people hoard physical gold as well as food items in bulk so that they have some means with which to barter as the economic crisis turns ugly.

“Three or four years into the future I think we could be in a hyperinflation, within the current year you’re going to see much higher inflation than most people are looking at,” Williams told MarketWatch.

Williams said that his definition of hyperinflation would be a situation in which a $100 dollar bill would become more functional as a piece of toilet paper than a store of value.

“This is a time when you want to preserve your wealth and assets because inflation will knock the value out of it,” he added, advising that people buy physical gold and assets other than the U.S. dollar.

http://www.prisonplanet.com/its-gett...ld-scotch.html
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Old 02-20-2009, 03:18 AM   #14
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Default Re: 2009: Worst economic collapse ever

Japan's Downturn Is VERY Bad News for the World
Quote

The U.S. can't count on Japanese savers.

By MICHAEL AUSLIN

As Hillary Clinton visits Tokyo for her first trip as secretary of state, she will find a country in the midst of its worst recession in 50 years. Japan's economy is contracting across the board: Exports have cratered, industrial production is on track to plummet 30% from a year ago, and the Japanese government projects that GDP will drop 12% from last year. The world's second largest economy, Japan is also the largest holder of U.S. Treasury bonds.

Recently, many economists and scholars in the U.S. have been looking backward to Japan's banking disaster of the 1990s, hoping to learn lessons for America's current crisis. Instead, they should be looking ahead to what might occur if Japan goes into a full-fledged depression.

If Japan's economy collapses, supply chains across the globe will be affected and numerous economies will face severe disruptions, most notably China's. China is currently Japan's largest import provider, and the Japanese slowdown is creating tremendous pressure on Chinese factories. Just last week, the Chinese government announced that 20 million rural migrants had lost their jobs.

Closer to home, Japan may also start running out of surplus cash, which it has used to purchase U.S. securities for years. For the first time in a generation, Tokyo is running trade deficits -- five months in a row so far.

The political and social fallout from a Japanese depression also would be devastating. In the face of economic instability, other Asian nations may feel forced to turn to more centralized -- even authoritarian -- control to try to limit the damage. Free-trade agreements may be rolled back and political freedom curtailed. Social stability in emerging, middle-class societies will be severely tested, and newly democratized states may find it impossible to maintain power. Progress toward a more open, integrated Asia is at risk, with the potential for increased political tension in the world's most heavily armed region.

This is the backdrop upon which the U.S. government is set to expand the national debt by a trillion dollars or more. Without massive debt purchases by Japan and China, the U.S. may not be able to finance the cost of the stimulus package, creating a trapdoor under the U.S. economy.

So far, Japan's politicians have been unable to find a way out of this mess. While another $53 billion stimulus package works its way through parliament, fully one-third of Japan's prefectures have instituted emergency economic stabilization measures.

But the big issues elude short-term solutions. Though Japan's leaders are currently cutting back on military expenditures and domestic services, they're unable to agree on budgets or reform plans. They have no strategic road map for reining in the yen, opening up to international competition, or taking an economic leadership role in Asia that will promote growth and strengthen democratic, market-oriented societies.

Things don't have to turn out this way. If Japan's leaders can craft a monetary policy that ends Japan's deflationary spiral by carefully expanding the money supply, recommit to structural reform, and halt the yen's rise, they can jump-start economic growth. They should also ignore the powerful domestic agriculture lobby and embrace a robust free-trade agenda, which would help them as well as the rest of Asia.

Mrs. Clinton's visit cannot be a simple photo opportunity. This trip needs to result in a clear U.S.-Japan approach to restoring confidence and rebuilding a robust and open international system. Without action, Japan and America may go over the cliff together, dragging Asia and the world down with them.

http://online.wsj.com/article/SB1234...95903.html?mod
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Old 02-21-2009, 03:51 AM   #15
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Default Re: 2009: Worst economic collapse ever

Friday, February 20, 2009
Full Scale Riots in Tranquil Caribbean Island! Economic Collapse!


Britons flee French island of Guadeloupe as rioters turn on white families
Britons are among thousands of tourists fleeing Guadeloupe after full scale urban warfare erupted on the French Caribbean island.

Trouble broke out on the island earlier last month after protesters began rioting over high prices and low wages.
But the situation escalated this week after protesters began turning on rich white families as they demanded an end to colonial control of the economy.

The troubles come at the height of the holiday season, with thousands of mainly British, French and American tourists on the paradise tropical island.

Guadeloupe descends into full-scale urban warfare after demonstrators riot over low wages and white control of the island's economy . Violence has escalated on the Caribbean island as protesters turn their attention to rich white families who they blame for their poor standard of living
Protesters were now targeting 'all white people', with the media in mainland France describing the situation as virtual civil war'.

Guadeloupe is a French overseas department ruled directly from Paris, and authorities in France have sent 300 extra riot police to the island in a bid to quell the violence.

Meanwhile, hundreds of protesters are roaming the streets of the capital Point-a-Pitre, looting shops and restaurants, burning cars and vandalising public buildings.

Holiday resorts along the coast have hired extra security to protect tourists, while the airport is jammed with visitors now trying to get out of the country.

Union leader Jacques Bino was the first man to die in the violence when he was caught in crossfire on Tuesday while driving a car near a roadblock manned by armed youths who had opened fire at police.

Six members of the security forces were injured during shoot-outs with the armed youths as they tried to help emergency teams who were trying to save Mr Bino's life.

Dozens more police and demonstrators have also been hurt in frequent clashes on the capital's streets - which one newspaper describing it as looking like a battlefield'.



Protesters ransacked shops and torched cars as the island descends into full-scale urban warfare

Most shops, banks, schools and government offices are now shut in Guadeloupe and the neighbouring French tourist island of Martinique - where protests are also mounting.

Guadeloupe's socialist opposition leader Malikh Boutih said: 'It is shocking to watch a police force which is almost 100 per cent white confront a population which is 100 per cent black.

'All the same elements of the riots on mainland France in 2005 are present here. A man holds a photo to pay tribute to Jacques Bino
'We don't have the same concrete buildings, there are palm trees instead, but it's the same dead-end, the same "no future" for young people, with joblessness and a feeling of isolation.'
The first protests began a month ago when the left-wing union coalition, the Collective Against Exploitation, demanded a £180 a month pay increase for low-wage earners.
President Nicolas Sarkozy sent his minster for overseas departments to the island to meet with union leaders on response to the demands.

But the racial tensions which have been simmering for decades exploded into full-scale rioting, with colonial descendants who own 90 per cent of the wealth becoming the focus of the violence.

The unrest was further aggravated last week when wealthy white landowner Alain Huyghues-Despointes publicly criticised mixed-race marriages and said he preferred to 'preserve his race'.

In Paris, the violence has provoked divisions in Mr Sarkozy's cabinet with black minister Rachida Data acknowledging that Guadeloupe suffered from 'a problem with the distribution of wealth'.

Laetitia Delaprade, spokeswoman at Voyages Antillais, a Paris-based travel agency that specialises in French Caribbean, said: 'People are scared. No one wants to go there and those that are there want to get out.'

Tourism Authority chief Madeleine de Grandmaison said: 'Tourism is fragile. People are not only cancelling this week, but also for all the months of February, March and April.

'We have a huge deficit of tourists ahead of us. At least 10,000 tourists have cancelled vacations in Martinique and Guadeloupe.'

Authorities struggle to contain the anarchy which has swept across the island
http://thecomingdepression.blogspot....caribbean.html
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Old 02-23-2009, 03:41 AM   #16
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Default Re: 2009: Worst economic collapse ever

Huge protest over Irish economy


Protesters said they wanted to make their voices heard but avoid strike action

About 100,000 people have taken part in protests in Dublin city centre to vent their anger at the Irish government's handling of the country's recession.
They oppose plans to impose a pension levy on 350,000 public sector workers.
Trade union organisers of the march said workers did not cause the economic crisis but were having to pay for it.
In a statement, the Irish government said it recognised that the measures it was taking were "difficult and in some cases painful".
The pension levy was "reasonable", the government said.
It reflected "the reality that we are not in a position to continue to meet the public service pay bill in the circumstances of declining revenue", it added.
Reports say the plan could cost the 350,000 public sector workers between 1,500 euros and 2,800 euros (£2,500) a year.
High unemployment
There were conflicting estimates of the numbers of people at the march, which began on the north side of Dublin in the middle of the afternoon.

Protesters march in Dublin

Police said 100,000 people were on the streets, while organisers said they expected 200,000 to protest in total.
The Irish Congress of Trade Unions (Ictu), which organised the march, said it was campaigning for "a fairer and better way" of dealing with the economic crisis.
"Our priority is about ensuring that people are looked after, the interests of people are looked after, not the interests of big business or the wealthy," Sally-Anne Kinahan, Ictu's secretary general, told the BBC.

I've a mortgage to pay, I've children to put through school, and now I'm being told I have to take cutback, after cutback, after cutback
Irish protester
One protester said he was "sick and tired of the way this government conducts itself and what it's doing to this country".
"I've worked all my life, I've never broke the law, never walked out on strike. Instead I've went to work and done my job," he said.
"I've a mortgage to pay, I've children to put through school, and now I'm being told I have to take cutback, after cutback, after cutback."
Ireland, which was once one of Europe's fastest-growing economies, has fallen into recession faster than many other members of the European Union.
The country officially fell into recession in September 2008, and unemployment has risen sharply in the following months.
The numbers of people claiming unemployment benefit in the Irish Republic rose to 326,000 in January, the highest monthly level since records began in 1967.

http://news.bbc.co.uk/2/hi/europe/7903518.stm
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Old 02-24-2009, 12:53 AM   #17
brutus35
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Default Re: 2009: Worst economic collapse ever

We all know by now, that the old systems and structures has to go. The entire universe is changing, and welcoming all the new energies and orders. Yet, we on earth seems to be hell bent on holding on for dear life unto burnt out and dying embers, although we know, that the more we hesitate the worst it will be. Everything so far is moving according to the plan movement from disorganized chaos, to "OC" organized chaos. And all is well, particularly, if one understands and accepts the reconstruction or the rebirthing process.

"What the caterpillar calls the end of the world, the Master calls a butterfly"
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Old 02-24-2009, 01:03 AM   #18
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Default Re: 2009: Worst economic collapse ever

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Originally Posted by brutus35 View Post
We all know by now, that the old systems and structures has to go. The entire universe is changing, and welcoming all the new energies and orders. Yet, we on earth seems to be hell bent on holding on for dear life unto burnt out and dying embers, although we know, that the more we hesitate the worst it will be. Everything so far is moving according to the plan movement from disorganized chaos, to "OC" organized chaos. And all is well, particularly, if one understands and accepts the reconstruction or the rebirthing process.

"What the caterpillar calls the end of the world, the Master calls a butterfly"
cool post, brutus. i'm new to the chaos theory, but really interested.
i would love to hear your thoughts on how it applies to the current world situation.
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Old 02-24-2009, 03:48 AM   #19
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Default Re: 2009: Worst economic collapse ever

There have been and still are many misconceptions about the earth's anscension process, which forms the basis of all the perceived chaotic situation currently and projected. The process is simply this; the earth has been for eons, existing in what is considered 3rd density or dense reality, a dimension which like earth humans is not her, or their natural home. But she agreed to exist here as a living or symbiotic school room, to allow humans, part of whose soul essence were still in darkness and denseness to graduate from darkness into light. The situation was for the most part, disorganised chaos, due in part to the dark entities that either forgot their purpose, or abused their knowledge and authority, to the extent that the earth's continuing existence was mortally threatened. Due to timely intervention of light entities, the situation was arrested, the dark forces were imobilised, and the earth began its process of returning or transforming from the denseness of third density to the light existence of fifth density (Ascension). In essence what this means, is that everything that is to ascend with the earth has to be transformed to a light energy; that process of organised chaos has begun. Some examples of transformation can already be seen in animals; predators accomodating what normally would be their prey, some species of animals and plants (and some humans) will cease to exist on the earth terra. New species of animal and plants will come into existence; this has already begun. Eventually all living mamals will be vegetarians, since the killing of another specie for food, or any other reason for that matter, cannot exist in light; this process has also already begun. And so we are here, trying to calm those who think it is the end of the world, and remind them, that they signed up for this mission, and it is in their best interest and indeed the best interest of all of us light workers, lightweavers, wayshowers or just persons of interest, that they fulfill their divine mission, turn away from the darkness, wake up and face the light..

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Old 02-27-2009, 02:06 AM   #20
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Default Re: 2009: Worst economic collapse ever

The degree of the economic collapse
Quote


http://data.bls.gov/PDQ/servlet/Surv...me=LN_cpsbref3

The chart above is from the Bureau of Labor Statistics.

Do you see how the line is shooting up in the air.

The second chart takes the same info and displays the degree of the economic collapse. This is frightening as hell, but it is what Joe Neubarth has been talking about on his radio shows. When somebody says that we expect a turnaround in a few months, the chart calls him a liar.

http://seekingalpha.com/article/1194...ployment-chart

This should be enough to scare people from putting their money into the stock market.
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Old 02-27-2009, 12:21 PM   #21
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Default Re: 2009: Worst economic collapse ever

I spoke with my buddy last night who lives in the detroit area, his wife works at a bank . She said that that the amount of unemployment checks coming in on a daily basis vs. the amount of payroll checks coming in daily being cashed is tipping the scale in the unemployment side heavier everyday .


Brutus and everyone here on this thread, very good approach from all different angles. For all here Light is the answer , and as things take more severe turns may the light increase in intensity in the days and months to come and we all absorb that energy only to emit that back 10 fold.
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Old 02-27-2009, 01:07 PM   #22
NorthernSanctuary
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Default Re: 2009: Worst economic collapse ever

This video is crazy. Can't believe the politicians running the government.
He's saying the more you owe, the wealthier you are.
"
make sure you see the end of this youtube clip to see congressman say "get the **** out"

http://www.youtube.com/watch?v=UjbPZAMked0
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Old 02-27-2009, 10:53 PM   #23
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Default Re: 2009: Worst economic collapse ever

Euro Area Risks Breakup, Subprime Bear Hayman Says (Update1)

By Bo Nielsen

Feb. 27 (Bloomberg) -- Hayman Advisors LP, the firm that earned $500 million betting on the U.S. subprime mortgage-market collapse, says Europe’s monetary union is about to fall apart.

Richard Howard, a managing director for global markets at Dallas-based Hayman, said Germany may opt to shore up its own economy, Europe’s biggest, rather than bail out fellow euro nations such as Austria, Italy and Spain as their banks sag under the weight of bad debts. That might lead to defaults and compel Germany to renounce the euro, he said.

“People said subprime could never blow up but it did and now they’re saying the exact same thing about the eurozone,” said Howard. “There’s no stopping what is now a downward spiral.” He declined to discuss his investments.

Hayman joins a growing number of investors seeing the possibility of a breakup of the $12 trillion euro bloc, conceived more than 10 years ago to cut unemployment, tame inflation and create a rival to the dollar. Societe Generale SA said this week Germany may refuse a bailout in an election year. ABN Amro Holding NV said Feb. 17 the crisis is “Europe’s subprime.”

Euro-region bank loans to Eastern Europe topped $1.3 trillion in the third quarter last year, or about 9 percent of the bloc’s gross domestic product, ING Groep NV said Feb. 18, citing Bank for International Settlements data. Now lenders face losses after extending credit to finance everything from industrial development to domestic real estate.

Debt-Default Insurance

Irish banks took on debt equivalent to 11 times the nation’s own gross domestic product, Dutch-bank credit reached seven times GDP and Belgium four times, according to BNP Paribas SA.

As concern intensified that the loans won’t be repaid, the cost to insure against defaults jumped six-fold to records since August. Credit-default swaps on Ireland climbed to a record 395.8 basis points, from less than 50 basis points in September, according to CMA DataVision. Austrian swaps traded at 265 basis points, compared with less than 25 points six months ago.

The breakup may occur as investors shun all but the safest government bonds, said Hayman, which in 2006 was among the first to bet against Wall Street’s rush to securitize the debt of the least creditworthy U.S. borrowers, correctly predicting a slump in home values that sparked the global credit crisis.

Investor demand for the lowest-risk securities already drove the difference in yield, or spread, between Greek, Austrian and Spanish 10-year bonds and German bunds, Europe’s benchmark government securities, to the widest since the euro’s debut.

Steinbrueck, Soros

German Finance Minister Peer Steinbrueck said Feb. 18 euro countries would “show our ability to act” should countries face difficulties paying debt. Billionaire investor George Soros said Feb. 17 he doesn’t expect a breakup of the region.

The World Bank, the European Bank for Reconstruction and Development and the European Investment Bank will provide up to 24.5 billion euros ($31 billion) to help central and east European banks and businesses cope with the crisis.

European Central Bank officials also said solutions can be found that will ensure cohesion of the region. Executive Board Member Lorenzo Bini Smaghi said Feb. 21 that European Union rules permit the EU “as a whole” to aid states in “economic difficulty.” ECB President Jean-Claude Trichet said a day earlier “there is no weak link of the euro area.”

“The argument that the euro zone will find a solution contains some sense if the assumption is that the situation isn’t that bad,” said Howard. “But the more dire it gets, the less are the consequences of departing from the euro.”

Shrinking Economies

German GDP contracted 2.1 percent in the fourth quarter, the biggest decline since 1987, the Federal Statistics Office said on Feb. 25. The economy will shrink by 2.5 percent this year, with France contracting 1.9 percent and the euro-region 2 percent, according to an International Monetary Fund report on Jan. 28.

European governments, which committed more than 1.2 trillion euros to rescue ailing banks as the recession eroded tax revenue, will require more cash as defaults occur, Howard said. Faced with the prospect of a deepening recession, Germany and France may be reluctant to bail out euro-region members such as Spain and Italy, Howard said.

“Because of the size of this crisis and because of the linkage with Eastern Europe, I think we need to see more broad- minded thinking coming out of the big European countries, in particular Germany,” Jim O’Neill, chief economist at Goldman Sachs Group Inc., said in a Bloomberg Television interview today in London. “Germany has got to create demand for many countries in Europe that have a strong need for some help coming out of elsewhere.”

The German government, facing elections in September, might refuse requests for help amid political pressure to spend money at home, Societe Generale said in a Feb. 24 report.

“A bailout of a debtor country from a surplus country like Germany would be like opening the box of Pandora,” former Bundesbank President Karl Otto Poehl said in London yesterday. “It’s a very dangerous course that we will enter” and “I’m very much against it, many people in Germany are against it, but the political pressure will increase,”

To contact the reporter on this story: Bo Nielsen in Copenhagen at bnielsen4@bloomberg.net

Last Updated: February 27, 2009 14:05 EST

http://www.bloomberg.com/apps/news?p...r7A&refer=home
And a couple good snippets:

Richard Howard, a managing director for global markets at Dallas-based Hayman, said Germany may opt to shore up its own economy, Europe’s biggest, rather than bail out fellow euro nations such as Austria, Italy and Spain as their banks sag under the weight of bad debts. That might lead to defaults and compel Germany to renounce the euro, he said.

“A bailout of a debtor country from a surplus country like Germany would be like opening the box of Pandora,” former Bundesbank President Karl Otto Poehl said in London yesterday. “It’s a very dangerous course that we will enter” and “I’m very much against it, many people in Germany are against it, but the political pressure will increase,”

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Old 02-27-2009, 11:12 PM   #24
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Default Re: 2009: Worst economic collapse ever

Quote:
Originally Posted by NorthernSantuary View Post
EUROZONE on verge of COLLAPSE!!!! Germany to Renounce the EURO!!!! DOOM!!!!!!!!!
Are you kidding? Could you make the fear mongering a little clearer please?

Quote:
Looks like the collpase of the Euro is imminent as the "winner countries" want to distance themselves from the "losers countries". I see this leading to increased nationalism and potential wars in Europe
Wars in central/west Europe? That's really hard to conceive without some devious outside influence and Middle East involvement.

---
Okay you updated the article, fair enough that sounds all fine, but I can't find anything that refers to 'war'?

Last edited by Czymra; 02-28-2009 at 09:53 AM.
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Old 02-28-2009, 03:45 PM   #25
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Default Re: 2009: Worst economic collapse ever

Okay you updated the article, fair enough that sounds all fine, but I can't find anything that refers to 'war'?


No it's not war. The "winner" countries are the ones that are economically stronger, so they don't want to be associated with the poorer countries economically.

Here's 2 other articles about the fact that the EU may not hold together and the impact on the Euro:

Quote


http://caps.fool.com/blogs/viewpost....19292467236494

""There’s no stopping what is now a downward spiral"

That's what one savvy investor recently said about the European Union. Many people believe that the EU and in turn the Euro are doomed. The theory behind this is that there are too individual economies to manage with just one currency. If for example, Italy or Greece had their own currencies they would be able to do much more easing than other members of the EU like Germany will currently allow.

Bloomberg had an interesting article on this subject this morning. A firm called Hayman Advisors LP, which raked in half a billion dollars making bets against U.S. subprime mortgages, believes that the EU is doomed.

The company's a managing director for global markets, Richard Howard recently stated that he believes Germany may choose to fix up its own economy rather than using its money to help bail out fellow EU members like Austria, Italy and Spain. The theory continues that if any of these countries begin to default on their debt, which is a distinct possibility without aid, that Germany might decide to "renounce the euro." The likelihood of it focusing on itself rather than fellow union members is made even more likely by the fact that this is an election year in Germany. Howard went on to add “There’s no stopping what is now a downward spiral.”

The cost to insure against European defaults, has soared six-fold since last summer. Credit-default swaps on Ireland have risen to 395.8 basis points from a below 50 basis points as recently as September. Austrian swaps are now at 265 basis points, versus below 25 half a year ago.

The spread between 10-year bonds for the haves like Germany and the have-nots like Greece, Austria, and Spain are the largest that they have been since the creation of the Euro.

Recently German officials have reiterated their support for the weaker countries in the Union and the savvy investor George Soros said several weeks ago that he does not believe the European Union will break up. European Central Bank President Jean-Claude Trichet recently was quoted as saying "there is no weak link of the euro area."

Still, many like Howard believe that given the depth of the current recession and the likelihood that things will get worse before they get better that the stronger EU members like Germany and France may be hesitant to bail out weaker countries like Spain and Italy.

Time will tell what is going to happen. This certainly is an interesting test for the EU. I certainly am not personally ready to say that it will collapse yet, but nothing would surprise me right now."


GERMANY WANTS OUT!!!

Poehl Says German Euro Rescue Would Be Pandora’s Box
Feb. 27 (Bloomberg) -- Former Bundesbank President Karl Otto Poehl said Germany should resist increasing pressure to rescue other euro-area countries as the financial crisis brings some of them to the brink of default.

“A bailout of a debtor country from a surplus country like Germany would be like opening the box of Pandora,” he said yesterday at an event at the London School of Economics. “It’s a very dangerous course that we will enter” and “I’m very much against it, many people in Germany are against it, but the political pressure will increase, it’s obvious.”

German Finance Minister Peer Steinbrueck signaled his government’s openness to rescues when he said last week that some euro nations are “getting into difficulties” and that Europe’s biggest economy would show its “ability to act.” Poehl said that the International Monetary Fund should seek to intervene instead.

“The IMF was designed for this purpose,” he said. “But the problem is that the IMF has not enough money. They need an increase in capital. That’s the most urgent reform we need.”

Government leaders of the Group of 20 should agree to “double or triple” the IMF’s capital to fight the crisis and help out euro-region members or European countries such as Ukraine, which is “close to bankruptcy,” Poehl said.

EBRD Action

The World Bank, the European Bank for Reconstruction and Development and the European Investment Bank will provide up to 24.5 billion euros ($31 billion) to help central and east European banks and businesses cope with the global financial crisis, the organizations said today.

Poehl, 79, said earlier yesterday on Sky News that smaller members of the euro region are more likely to default. German policy makers argued for years that the Maastricht Treaty that set up the single currency forbids bailouts.

That countries may agree to rescue a euro-area member from bankruptcy “can be the outcome of the negotiations, because it has political aspects,” Poehl said. “There are some signs that make me worry.”

He also said that the global economic slump will push down the value of the U.S. dollar.

“One consequence of the worldwide recession will likely be the decline of the dollar as a reserve currency,” he said. “The dollar will get under pressure again.”

The U.S. currency has appreciated 26 percent since falling to a record low against the euro in July last year.
[http://www.bloomberg.com/apps/news?p...&refer=germany
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