OT: Regarding the current economic situation...

[pundit]

I suggest you have a look here if you haven't already....

http://www.chrismartenson.com/three_beliefs

[632 Regal]

starts warming up in chapter 5, 6 is a great example of whats going on now. Need to watch this when I get back... Cool find!

[pundit]

starts warming up in chapter 5, 6 is a great example of whats going on now. Need to watch this when I get back... Cool find!
It seems the U.S. Government is doing nothing more than using the taxpayers to fund the re-arranging of the deckchairs on the 'Titantic' before it and the 'architects' of this system take the only liferaft, abandon ship and leave the taxpayers onboard to sink to the bottom.

All the current administration is doing is just lengthening the burning fuse so the dynamite explodes AFTER they have left the scene of the crime. The next administration is going to be screwed by all this, and the population, even more so.

What's the U.S. dollar going to be worth 12 months from now?

[632 Regal]

This has to be at leat 3 hours long and has refreshed me on what I have learned over the past 20 years and confirmed what I have recently read and believe over the past few years.

I would recommend if people dont want to watch it all at least spend the time on 16, 18 19 and 20. Altho 20 is not available at this time I will be looking forward to it.

Wonderful education to a very immediate need to know subject. I dont even think this is way off topic but something that everyone needs to know acknowledge and be aware of.

edit: We are now at the beginning of the end, with the bail out plan we have maybe a few months to get things in order for... the unknown.

[attack eagle]

stick the sob in OT where it belongs.

[Jehu]

I suggest you have a look here if you haven't already....

http://www.chrismartenson.com/three_beliefs


Huh, this (http://rowecenter.org/schedule/current/20090206_ChrisMartenson.html) is just a hop,skip and a jump from me..maybe I'll check it out...

[pundit]

Bailout rejected by Congress...

http://www.nytimes.com/2008/09/30/business/30bailout.html

[632 Regal]

Just terrible for the markets, down 800 points, 2nd worst day in history. I'm up 34.5% for the day though (RZ) :D AXTI next setup for another double.

[repenttokyo]

Just terrible for the markets, down 800 points, 2nd worst day in history. I'm up 34.5% for the day though (RZ) :D AXTI next setup for another double.

percentage wise, tho, it doesn;t even crack the top ten...

http://i.l.cnn.net/money/2008/09/29/markets/markets_newyork/dow_tumble_chart2.jpg

[632 Regal]

you are correct!


NEW YORK (CNNMoney.com) -- Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.


The day's loss knocked out approximately $1.2 trillion in market value, the first post-$1 trillion day ever, according to a drop in the Dow Jones Wilshire 5000, the broadest measure of the stock market.


The Dow Jones industrial average (INDU (http://money.cnn.com/quote/quote.html?symb=INDU&source=story_quote_link)) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.



percentage wise, tho, it doesn;t even crack the top ten...

http://i.l.cnn.net/money/2008/09/29/markets/markets_newyork/dow_tumble_chart2.jpg

[pundit]

So I guess there'll be plenty of politicians buying up stocks at this point now that prices have dropped after the bailout was rejected.

Then next Thursday after they finally agree to pass the bailout, guess what, the stock prices will go up, the politicians will then dump their stocks again making a tidy little profit and the market will plummet again.

You gotta hand it to 'em.... and YOU ARE... ON A PLATE!!

[pundit]

Peter Schiff - "America is broke".... here (http://mpegmedia.abc.net.au/homepage/bst_peterschiff_edit.mp3)

[632 Regal]

here: "Global money markets were frozen even as central banks poured hundreds of billions of dollars into the financial system to persuade financial firms to stop hoarding cash."

so why arent they the ones pouring money into USA banking vs us pouring money in??? Greed. Good ole banker greed... let them fail we are destined anyway. wonder how much Bernanke and Paulson stood to prosper from this last minute scam. Geez

[pundit]

here: "Global money markets were frozen even as central banks poured hundreds of billions of dollars into the financial system to persuade financial firms to stop hoarding cash."

so why arent they the ones pouring money into USA banking vs us pouring money in??? Greed. Good ole banker greed... let them fail we are destined anyway. wonder how much Bernanke and Paulson stood to prosper from this last minute scam. Geez
Well Paulson wanted the 700 billion with no oversight or conditions attached.
It shows you these people are from a different planet.

Bailout out or not, economically, the game is up for the U.S. The phoney economy has been maintained by subsequent U.S. Administrations for decades and now all the chickens are all coming home to screw everyone.

I'd be looking for ways to reduce my living expenses such as food and basic necessities .... remember plasma TV's are low in fibre and vitamins and don't taste too good anyway. :D

[632 Regal]

exactly, working my way back from the abyss of govt backed securities that caused a 96% loss in fun ds. Workin back slowly, half a grand a day with only 2K is a long LONG road back up there. 6 months Ill have another party and fly friends in from the world. The band is gone now bur have a new one on idea... MBXB is good byt their videos from 6 weeks away are blurry.

[632 Regal]

The Yays have it by 5:3 shall we take a recount?

[MBXB]

Here's an e-mail doing the rounds of the financial community that gives an interesting perpsective on the latest market turmoil -- and where some might wish they had invested given a second change.

"If you had purchased $1,000 of United Airlines parent UAL stock one year ago, you would have $200 left.

With Fannie Mae, you would have $2.50 left of the original $1,000. With AIG, you would have less than $15 left.

But, if you had purchased $1,000 worth of beer one year ago, drunk all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214 cash. Based on the above, the best current investment advice is to drink heavily and recycle."

[repenttokyo]

Here's an e-mail doing the rounds of the financial community that gives an interesting perpsective on the latest market turmoil -- and where some might wish they had invested given a second change.

"If you had purchased $1,000 of United Airlines parent UAL stock one year ago, you would have $200 left.

With Fannie Mae, you would have $2.50 left of the original $1,000. With AIG, you would have less than $15 left.

But, if you had purchased $1,000 worth of beer one year ago, drunk all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214 cash. Based on the above, the best current investment advice is to drink heavily and recycle."

yeah that is as old as the hills.

[pundit]

"Gentlemen, I have had men watching you for a long time, and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out."

Andrew Jackson the 7th President of the USA addressing a banking delegation in 1832.

[The Bigfella]

Is this Martenson the clown who reckons you should get rid of the Fed?

Swallow that crap and you deserve everything you get.

[632 Regal]

i like the Maverics

http://www.dragtimes.com/images/4973-1970-Ford-Maverick.jpg
just cant see either driving it.

[Jehu]

i like the Maverics

http://www.dragtimes.com/images/4973-1970-Ford-Maverick.jpg
just cant see either driving it.

Oh man my old friend Barney "Big B" Farren RIP would've loved that.. he had this Maverick that just would not quit... we drove that thing like it needed to be punished and it just kept on going..lol.. I remember in one serious blizzard , three feet of snow and us with a few purple microdots n us he drove by this unplowed school parking lot and for no reason, just swerved in i guess to just plow thu some snow himself and we got stuck... we spent the night in the car when the next morning this front end loader came to plow and he scooped the ass end of the mav up and plowed us right out onto the street... easy to work on those things too and great MPG.

[Blitzkrieg Bob]

three feet of snow and us with a few purple microdots n us

That explains it all

[Zeuk in Oz]

I suggest you have a look here if you haven't already....

http://www.chrismartenson.com/three_beliefs
Thanks pundit for showing us this.

For economy illiterates like me, this is economics 101.

[632 Regal]

the best: http://www.zeitgeistmovie.com/main.htm

[pundit]

the best: http://www.zeitgeistmovie.com/main.htm
I've seen Zeigeist several times but it disturbs many people so much that that simple don't believe it is true, disregard it as a conspiracy and switch off.
That will soon change however!

[ThoreauHD]

I don't know about getting rid of the Federal government, but getting rid of the Federal Reserve Bank is imperative. There is a reason why Congress should coin money backed by a standard. And you'll see that reason in the coming month's, when the 850+ Billion is gone and the value of the dollar sinks like a lead weight. The problem isn't fixed. The loans are still worthless. And you will see this in the stock market very very soon when everyone buys gold because our fiat paper printed by a private company is deemed worthless.

For the immediate issue that we face, you can trace it back to Jimmy Carter's FHA and Bill Clinton's Community Reinvestment Act. It introduced limitless money into a free market system. This isn't blame. This is fact, and any President can do this when they ignore the Constitution and economic law repeatedly.

First, minorities that could not afford the loans were given access to laons. Then, it was expanded to everyone who could not afford the loans. And so now, we(the government) are buying all of the loans that people could not afford. The problem is that when you give away money, items tend to increase in cost- because the value of the dollar becomes worthless. Which means that now A) The value of the property is too high B) Nobody was able to afford them before and nobody will be able to afford them now.

Normal market corrections would have turned that 2 acre one bedroom house into a $150,000 home or 3X the average salary of an individual. But, with this current and previous gov't/federal reserve intervention, the property will be held at $400,000, which means that it will not be purchased and the housing bubble will burst yet again. But now it will burst with an additional 1.5 Trillion in debt on top of our existing debt of 11 Trillion.

The 850 Billion doled out last week was just to buy worthless loans. Taken all together, we have spent 1.5 Trillion buying/bailing out companies and purchases fiat paper loans on property worth 1/3 that.

So, from my point of view, this vid reel is old news for me. My great^4 uncle actually is Andrew Jackson. I'm his brother's decendant. And I'm a Libertarian by party. Although, the Constitution party and Libertarian parties are fairly close in comprehension of law. I opted for Libertarian due to their footprint in numbers and grasp of major issues.

So, this has been coming for quite awhile. A literal old cliche, I know. But this is just the first bump in the road.

The consequences of this will cause a retraction of our military presence worldwide, make purchasing items greater than 300 miles away unsustainable, collapse our ability to dole out 800 Billion a year to other countries for oil, and ultimately will make family and friends you can trust with your life more important than gold bullion. At that point, the most important currency will be water and food, and to a lesser degree, ammunition. And before that point, you will become intimately familiar with how lethal non-lethal weapons can be.

That's a taster of the future. I hope you enjoyed my little sermon on the mount. Take care.

http://i4.photobucket.com/albums/y106/toasty0z/communism.jpg

[pundit]

... The consequences of this will cause a retraction of our military presence worldwide, make purchasing items greater than 300 miles away unsustainable, collapse our ability to dole out 800 Billion a year to other countries for oil, and ultimately will make family and friends you can trust with your life more important than gold bullion. At that point, the most important currency will be water and food, and to a lesser degree, ammunition. And before that point, you will become intimately familiar with how lethal non-lethal weapons can be.

That's a taster of the future. I hope you enjoyed my little sermon on the mount. Take care.
Something I've become involved in recently...

http://www.communityharvestproject.org.au/

I provided the website (there is a new one under construction).

The fundamentals are food, water, shelter and a job to pay for it all if you are not self sufficient... and jobs are no longer guaranteed with the financial meltdown that is occurring.
My neighbour was retrenched last week and the company he was working for is on the brink of bankruptcy.

As for the government providing welfare... that's also disappearing fast.
Most western governments are technically bankrupt.. the US especially.

In a few years the first of the baby boomer's will begin their 'retirement'.
Here's the BIG problem.... who's going to pay for this?
The US Governments pension fund is empty and self funded retirees are watching their next eggs evaporate before their eyes.
Our Government has now advised retirees to go back to work to to supplement their incomes... what work?
With many businesses winding back or shutting down who's going to employ a 60+ year old?

Many are losing their homes, and their jobs, food is becoming so expensive many are beginning to realise what feeling hungry is like for the first time.
In Australia we have a water crisis.
Last month here in Melbourne we had the lowest September rainfall since records began in the 1850's.
Our water storages are currently around 30% capacity and summer is still nearly two months away.

I recently purchased two 9000 litre water tanks, have a wood burning stove and have just planted out my raised bed vegetable garden... chickens are coming in the new year.

The bottom line is don't wait for your Government to come and save you when things really get bad... they won't.

George W. is still trying to tell everyone that everything is just going to be fine (http://mpegmedia.abc.net.au/news/audio/am/200810/20081007-am-02-Wall-St-slides.mp3)... ****in' wanker!!

Oh yeah, and before he chimes in, Hi Ross... it's Chicken Little! ;)

[repenttokyo]

The consequences of this will cause a retraction of our military presence worldwide, make purchasing items greater than 300 miles away unsustainable.



300 miles? Dude the country is wider than that!

[repenttokyo]

I've seen Zeigeist several times but it disturbs many people so much that that simple don't believe it is true, disregard it as a conspiracy and switch off.
That will soon change however!

http://blogs.psychologytoday.com/blog/brainstorm/200810/of-jock-straps-and-conspiracy-theories

[pundit]

300 miles? Dude the country is wider than that!
"...A recent study on food miles in Australia found a typical shopping basket has travelled some 70,803 kilometres to reach Melbourne..."

http://www.abc.net.au/rural/features/locavore/

[pundit]

Lehman Brother's boss grilled over $500m salary (http://www.abc.net.au/news/stories/2008/10/07/2384156.htm)

[yaofeng]

Lehman Brother's boss grilled over $500m salary (http://www.abc.net.au/news/stories/2008/10/07/2384156.htm)

I watched portions of the congressional enquiry during lunch. I thought the Congressmen were being extremely nice to him. In my view I don't care that much about the $500m salary. That is chump change compared to the credit default swaps which is the root of the problem of the current financial crisis. I did not hear anyone ask Fuld any questions about CDS. Perhaps I missed it. I hope tougher questions will be asked in the ensuing days of the enquiry. The CDS is a $60 some trillion problem stifling the credit market $700 billion may ot may not make a dent.

We are only seeing the beginning of a severe economic downturn because of this. It is going to be a bumpy ride. I suspect many people will not have a job. Not on Wall Street, on Main Street.

[repenttokyo]

"...A recent study on food miles in Australia found a typical shopping basket has travelled some 70,803 kilometres to reach Melbourne..."

http://www.abc.net.au/rural/features/locavore/


...which is why I don't live in Australia. that and the spiders. :(

[pundit]

Lehman Brother's boss grilled over $500m salary (http://www.abc.net.au/news/stories/2008/10/07/2384156.htm)

AIG executives live it up days after bailout (http://www.abc.net.au/news/stories/2008/10/08/2385116.htm)

There appears to be a pattern here..."I'm a high flying Wall Street Executive. It's my God given right to make obscene incomes using other people's money then have the taxpayer bail me out when it all ****s up. And after the taxpayer bails me out I'll go and live it up at a resort why the average Joe goes down the toilet. If you gotta problem with that then go **** yourselves you pathetic snivelling tax payers."