US Economic Meltdown in weeks?

darkbeaver

darkbeaver

the universe is electric
Jan 26, 2006
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RR1 Distopia 666 Discordia
Sunday, June 29, 2008

Fortis Bank Predicts US Economic Meltdown to be Within Weeks


American 'meltdown' reason for money injection Fortis.
28th of June, 9:10
BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. "We have been saved just in time. The situation in the US is much worse than we thought", says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US"http://sbynews.blogspot.com/2008/06/fortis-bank-predicts-us-economic.html
 
darkbeaver

darkbeaver

the universe is electric
Jan 26, 2006
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RR1 Distopia 666 Discordia
Barclays warns of disaster as Fed loses all credibility

By Ambrose Evans-Pritchard
The Telegraph, London
Friday, June 27, 2008
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarc...
Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero."
"We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock under way. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."
Barclays Capital said in its closely-watched Global Outlook that US headline inflation would hit 5.5pc by August and the Fed will have to raise interest rates six times by the end of next year to prevent a wage-spiral. If it hesitates, the bond markets will take matters into their own hands. "This is the first test for central banks in 30 years and they have fluffed it. They have zero credibility, and the Fed is negative if that's possible. It has lost all credibility," said Mr Bond.
The grim verdict on Ben Bernanke's Fed was underscored by the markets yesterday as the dollar fell against the euro following the bank's dovish policy statement on Wednesday. Traders said the Fed seemed to be rowing back from rate rises. The effect was to propel oil to $138 a barrel, confirming its role as a sort of "anti-dollar" and as a market reproach to Washington's easy-money policies.
The Fed's stimulus is being transmitted to the 45-odd countries linked to the dollar around world. The result is surging commodity prices. Global inflation has jumped from 3.2 to 5pc over the last year. Mr Bond said the emerging world is now on the cusp of a serious crisis. "Inflation is out of control in Asia. Vietnam has already blown up. The policy response is to shoot the messenger, like the developed central banks in the late 1960s and 1970s," he said.
"
 
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MikeyDB

House Member
Jun 9, 2006
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If America goes….BLAT! Where can we go to replace the rich inspiring and deeply meaningful entertainment we’re used to getting from them!?

Has-been rock stars who the “entertainment industry” hopes a few millions of people who never grew up will enthusiastically tune-into to watch their once famous now…washed-up and silly little rock star hero fumble about like the average American moron with millions of dollars and every luxury imaginable at this beck and call….. Truly moronic.


Or how about “Hulk-Hogan revisited as a steroid enhanced “Father Knows Best” parody…? Truly idiotic.

Can we intuit anything from the caliber of “entertainment” a culture imbibes?
 
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MikeyDB

House Member
Jun 9, 2006
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ITN

Does your post mean that such inspiring glop as "Dog the Bounty Hunter" and "American Idol" will be resurrected ad nauseum....or that America isn't likely to bite the bullent any time soon?

:)
 
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MikeyDB

House Member
Jun 9, 2006
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That would be wonderful!

So you're satisfied with the race dynamic in America..? Everything's just peachy keen with respect to America's image in the world? Americans are actually capable of acknowledging that there are a whole lot of other folk out there beyond the borders that have appetities and dreams that don't necessarily mirror those of the United States of Spoiled Children?
 
I think not

I think not

Hall of Fame Member
Apr 12, 2005
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The Evil Empire
Haven't you noticed Mikey? We don't give a rats ass about our image in the world, we're not Canadian in case you haven't noticed. :smile:
 
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MikeyDB

House Member
Jun 9, 2006
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If ITN speaks for the majority of Americans.... why bother with pretending to care what they think?
 
FUBAR

FUBAR

Electoral Member
May 14, 2007
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Well there are some on this forum who would think that the federal reserve is a safe haven that the elite will go to when the world..
A) degenerates into total anarchy.
B) begins to feel the effects of global spraying.
C) is hit by disasters caused by off planet actions.
 
quandary121

quandary121

Time Out
Apr 20, 2008
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FUBAR said:
Well there are some on this forum who would think that the federal reserve is a safe haven that the elite will go to when the world..
A) degenerates into total anarchy.
B) begins to feel the effects of global spraying.
C) is hit by disasters caused by off planet actions.
Click to expand...


why not come out and say what you mean by
Well there are some on this forum who would think
Click to expand...
at least some of us do think
 
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