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Economist claims hundreds of banks will fail...

Discussion in 'Political Discussion' started by DarrylS, Aug 4, 2008.

  1. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    and we will get stuck with the bill as they will have to be bailed out.. people who do not deserved credit or mortgages are still getting cards and loans..

    http://www.reuters.com/article/bondsNews/idUSN0344130720080803?sp=true

    Last edited: Aug 4, 2008
  2. PressCoverage

    PressCoverage Banned

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    it's realities like these that remind me, each time, that not a single main theory has been proven false, or prediction hasn't come true in Michael Ruppert's "Rubicon".... not a one...

    get to know your neighbors, and your community, folks...
    Last edited: Aug 4, 2008
  3. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    He may be right but he may not be. He says it's the 2nd inning - a lot of economists/financial guys say it's the 7th inning. One thing I've learned from this stuff is it's wise to to listen to one guy and assume he's right becase you can always find an equally respected person saying the opposite.
  4. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Kinda like any political news in an election year..
  5. PatriotsReign

    PatriotsReign Rookie

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    Based upon the facts we have
    - not even half the foreclosures processed
    - plus the pending credit card debt write-offs
    - housing slump
    - inflation
    - world-wide economic down-turn
    - Rising unemployment

    It would seem that common sense would dictate we are not in the 7th inning...maybe not the 2nd either. But there are zero signs of "turning the corner" as far as I have seen.

    Like you said, it all depends on who you listen to. Common sense would also dictate that people we should NOT listen to are real estate people and stock market people because both have a vested interest in saying things are getting better or that we have bottomed-out.

    BF, I have a feeling you're relying too much on comments of those in the investment industry. Independent economists will give us a more biased view of reality every time.

    BTW...we need to let those banks fail. No more of taxpayers money should be used to bail them out. Our government has basically made the statement that "business is the business of our government". It is not. Someone here made the statement that it is the responsibility of the federal government to provide a defense for this country but not its responsibilty to provide social welfare systems. If that is true, then it is certainly not the federal governments responsibility to subsidize public corporations

    Honestly, WTF is happening here? Why is no one up in arms over this? We have become sideline observers to our own government...and sadly, I am as guilty as anyone else.
    Last edited: Aug 4, 2008
  6. PatriotsReign

    PatriotsReign Rookie

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    I made my prediction 2 weeks ago that we are in a recession that will last another 12-18 months. Not that I'm a recognized economist, but this makes me feel like I wasn't just taking a "stab in the dark" guess.

    I also predict that no matter how much the price of oil drops, inflation will keep rising. Too many people think the inflation we are experiencing is due mainly to the rise in fuel costs...that is wrong. It is mainly due to a soaring money supply which resulted from record low interest rates and unprecidented deficit spending.

    I love the Reuter's website. That is a great place to get the latest economic news.
    Last edited: Aug 4, 2008
  7. PatriotsReign

    PatriotsReign Rookie

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    PC, can you list some of his predictions that have come true and/or what his biggest prediction is that has yet to come true?
  8. PressCoverage

    PressCoverage Banned

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    Michael Ruppert was an invetigative reporter and retired LAPD narcotics officer who dug a little too deep in both his career as a cop, and his work as a Truther. He started the FromTheWilderness.com website, but abandoned it after his offices were vandalized and looted. He's only just now getting back to health after a mysterious illness in South America two years ago. Some suspected poison. Happy to be alive, he has given up his 30 year career as an investigative reporter to live in peace.

    His thesis is rooted in Peak Oil, and the road map of U.S. hegemony since our leaders acknowledged oil was running out some time in the mid nineties. The indications of oil depletion incresase all around us, yet amazingly are still debated by some. I suppose his biggest prediction that has yet to come is simply the catastrophic depletion of global oil production, and the complete collapse of the U.S. dollar. We are appear to be well on our way towards both.

    Ruppert took the Keane Commission report to task, and exposed the white washing that was the 9/11 NORAD hearings... Ruppert was right about Pat Tillman, and was about blowing the lid off the coverup when his offices were ransacked. Rumsfeld went ahead and quit a short time later when the MSM picked up on it.

    Ruppert was right about US drug importation and the money laundering of drug trade profits, he was right about the 2004 election, the Anthrax attacks, the impending invasion of Iraq based on fraud, the vast ties between the Bushies and the bin Ladens, ... his FTW website was dead on about the vastly over-projected Caspian reserves, the certain rise of oil past $100/barrel, the inevitable crash of the housing market, ... i could go on and on and on and on and on and on, believe me... but my copy of "Crossing the Rubicon" is at work... It's the best book out there about the map the neocons have written ...

    After disappearing for two years, Ruppert finally gave his readers an update back in March... about the only thing he and his FTW got wrong was that there'd be a draft.... well, he only sorta got it wrong...


    The man is a hero, and a patriot.
    Last edited: Aug 5, 2008
  9. PatriotsReign

    PatriotsReign Rookie

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    Thanks for following-up PC! Good stuff...effing pisses me off, but very interesting. Let us just assume that all of this is a part of a plan to change the social, political and financial structure of this nation and possibly on a world-wide level. Why the F**k can't we (the people) just say eff you, this aint happening. How can so few effect the exact changes they plan while all of us sit by and say "oh, that's just too bad"?

    If someone could only prove some or any of this, they could start a focused effort by the masses to take away all the power from the self-appointed elite. I admit, I have a hard time imagining secret meetings and conspiracies to bring about huge global change to line the pockets of some secret world-wide society. BUT.... if someone could prove this, I would glady take up arms and help wipe them off the face of this earth...every single one of them.
    Last edited: Aug 5, 2008
  10. weswelker#83

    weswelker#83 Rookie

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  11. PatriotsReign

    PatriotsReign Rookie

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    What's wrong with you welker? Don't you know the top 1% is supposed to be getting their bigger piece of the pie? Get with the program!:rolleyes:;)

    Pretty sickening when considering the state of the economy.
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    What's sickening ? Companies want to keep their best people. A bad year in business doesn't mean you throw the baby out with the bathwater and let everyone go. In fact you can make an argument that in bad times you need your best employees the most - anyone can make money in the market when it's doing nothing but going up.

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