Hey guys I know this is off topic but Im worried, The president of my country (mexico) is saying in all the channels of the t.v that U.S.A its having a economic crisis, is this right?
National Crisis?
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Lol not really magic related but yes, its actually an international crisis. The dow jones fell below 9000 (lowest in 4 years) meaning that most probably the US dollar will drop and that, it will be more expensive buying things overseas (thats if the dollar of the overseas country does'nt drop more)
Man, , my president has been saying some scary things...
"its going to be some very hard times but we will pull it through..."
So its international?
Im a little worried.
"its going to be some very hard times but we will pull it through..."
So its international?
Im a little worried.
D
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I was debating in my mind whether or not to close this, but I decided since it is a big issue and intelligent conversation, I'll keep it open for now...
Yeah, the stock market crashed and things haven't been this bad since the Great Depression. Yup. Fun stuff.
-Doug
Sigh, So I guess that if I buy things now over internet, the prices are going to go up aint?
Man, I also heard about people commiting suicide because this, I didnt imagine It could get that bad.
most likely some one has. It is a very long story but i know some it it.
back in 04 The USA told every one to buy a house. They all got loans for them staring at around $700 per month of the first three years than it would be $2000. then they could refinace their homes for $1000 per month. But every one tried to do that at once and couldn't get it. So they needed money from the bank but the bank didn't have that much money so they went to bug banks in NYC and got money from them. They lost money, stock went down. So we need to give those banks that wasted our money before when we gave them our loans $700 Billon dollars so they can waste our money again. Thanks bush. So now it is really hard to get a load to buy a house or a car or anything.
Thats what i heard and that is the shortened version of it
This is actually really close to what is happening. Some big shot came up with an idea "adjustable rate mortgage" (ARM) When peoples rates began adjusting they couldn't pay their mortgage, a lot of foreclosures happened. Little banks that got the money from bigger banks couldn't pay their loans back so the bigger banks started to go under.
The one thing to remember is real estate is HIGHLY localized. What is happening in on area of the country is not happening in yours. I hate to say it but a lot of what is happening with the buyouts and bailouts will only lead us farther and faster into economic melt down. Businesses that make bad decisions should be allowed to go bankrupt and collapse. Everyone should not pay the price for a few. The stock market should have been allowed to have a mini crash months ago, if it would have crashed it would have came back stronger after a couple years.
That is my opinion and thoughts, but nobody listens to me.
Is the Federal Reserve Engaged in Acts of Economic Warfare Against America?
Mike Adams
Natural News
October 8, 2008
In 1942, German intelligence officers rounded up skilled Jewish prisoners and launched Operation Bernhardt, a clever scheme designed to counterfeit hundreds of millions of dollars worth of British Pounds and destroy the British economy by flooding it with counterfeit money. Located in the Sachsenhausen concentration camp, Operation Bernhardt was, even by modern standards, a runaway success that resulted in the creation of forged bank notes worth 132 million British Pounds.
This “economic warfare” operation resulted in a devastating economic effect on the British economy. You can read the true history of this operation here: http://en.wikipedia.org/wiki/Operation_Bernhard
It is important to note that Operation Bernhardt was an act of war, specifically pursued for the purpose of destroying Britain’s economy by creating so much new money that the value of the money already in circulation would plummet. This was considered a strategic attack, just as effective as carpet-bombing tank factories or mowing down soldiers on the field with German-made MG42 machine guns.
What does all this have to do with the Federal Reserve?
Today, the Federal Reserve is engaged in an eerily similar operation, counterfeiting trillions of dollars in U.S. bank notes and flooding the U.S. money supply with money created from nothing. The result, of course, is the same as was intended by Operation Bernhardt in 1942: The economic destruction of the target nation. Only this time, the target is the United States of America.
Hilariously, the Fed claims it’s doing this to save the economy. Yet the laws of economics tell us that flooding the money supply with trillions of dollars in new money actually harms the economy. And the Fed has been hard at work causing this harm: $250+ billion two weeks ago, $600+ billion last week and $900 billion earlier this week! It’s beginning to crank up the printing presses to the tune of a trillion dollars a week, and by doing so, it’s contributing to the destruction of the U.S. economy at a pace the Third Reich could have barely imagined.
Has the Fed declared war on the working class?
If the actions pursued by the Federal Reserve were being masterminded by Al-Qaeda, they would be denounced as acts of war. In World War II, such actions were deliberate acts of war. Targeting the economy for destruction by flooding the money supply with counterfeit currency is, by any measure, a threat to any nation.
So why is the Federal Reserve engaged in actions that, if committed by other nations, would warrant a military response? This is not an idle question. I’m not asking this in a satirical way. I’m quite serious about this: Why is the Fed committing acts of economic warfare against the United States of America? (The Fed, by the way, is a private company. It is not, as you’ve been led to believe, part of the U.S. government.)
The answer is obvious. You’ve probably already figured it out: The Federal Reserve is at war with America. It’s an economic war, of course, not a bombs-and-bullets war. The casualties, though, are just as real: Savings accounts, retirement funds, bank accounts, jobs, businesses, pensions and much more.
By counterfeiting trillions of dollars like a Sachsenhausen operation on steroids, the Fed is carpet-bombing the U.S. economy with an unprecedented flood of fiat currency, causing the exact same economic destruction intended by the Nazis in World War II (but on a much more devastating scale). And it’s doing this as part of a new economic war.
http://www.infowars.com/?p=5160
infowars.com
prisonplanet.com
wearechange.org
Mike Adams
Natural News
October 8, 2008
In 1942, German intelligence officers rounded up skilled Jewish prisoners and launched Operation Bernhardt, a clever scheme designed to counterfeit hundreds of millions of dollars worth of British Pounds and destroy the British economy by flooding it with counterfeit money. Located in the Sachsenhausen concentration camp, Operation Bernhardt was, even by modern standards, a runaway success that resulted in the creation of forged bank notes worth 132 million British Pounds.
This “economic warfare” operation resulted in a devastating economic effect on the British economy. You can read the true history of this operation here: http://en.wikipedia.org/wiki/Operation_Bernhard
It is important to note that Operation Bernhardt was an act of war, specifically pursued for the purpose of destroying Britain’s economy by creating so much new money that the value of the money already in circulation would plummet. This was considered a strategic attack, just as effective as carpet-bombing tank factories or mowing down soldiers on the field with German-made MG42 machine guns.
What does all this have to do with the Federal Reserve?
Today, the Federal Reserve is engaged in an eerily similar operation, counterfeiting trillions of dollars in U.S. bank notes and flooding the U.S. money supply with money created from nothing. The result, of course, is the same as was intended by Operation Bernhardt in 1942: The economic destruction of the target nation. Only this time, the target is the United States of America.
Hilariously, the Fed claims it’s doing this to save the economy. Yet the laws of economics tell us that flooding the money supply with trillions of dollars in new money actually harms the economy. And the Fed has been hard at work causing this harm: $250+ billion two weeks ago, $600+ billion last week and $900 billion earlier this week! It’s beginning to crank up the printing presses to the tune of a trillion dollars a week, and by doing so, it’s contributing to the destruction of the U.S. economy at a pace the Third Reich could have barely imagined.
Has the Fed declared war on the working class?
If the actions pursued by the Federal Reserve were being masterminded by Al-Qaeda, they would be denounced as acts of war. In World War II, such actions were deliberate acts of war. Targeting the economy for destruction by flooding the money supply with counterfeit currency is, by any measure, a threat to any nation.
So why is the Federal Reserve engaged in actions that, if committed by other nations, would warrant a military response? This is not an idle question. I’m not asking this in a satirical way. I’m quite serious about this: Why is the Fed committing acts of economic warfare against the United States of America? (The Fed, by the way, is a private company. It is not, as you’ve been led to believe, part of the U.S. government.)
The answer is obvious. You’ve probably already figured it out: The Federal Reserve is at war with America. It’s an economic war, of course, not a bombs-and-bullets war. The casualties, though, are just as real: Savings accounts, retirement funds, bank accounts, jobs, businesses, pensions and much more.
By counterfeiting trillions of dollars like a Sachsenhausen operation on steroids, the Fed is carpet-bombing the U.S. economy with an unprecedented flood of fiat currency, causing the exact same economic destruction intended by the Nazis in World War II (but on a much more devastating scale). And it’s doing this as part of a new economic war.
http://www.infowars.com/?p=5160
infowars.com
prisonplanet.com
wearechange.org
Not....really.
shemhamforash had it pretty much. The combination of ARM (adjustable rate mortgages) and the declining values in the housing markets have primarily fueled this meltdown.
People who SHOULD HAVE NEVER BEEN ALLOWED TO GET A LOAN, were given pretty BAD loans. Where, yes Cringe, they had a very low payment for a few years (3,5,7 years) but after that introductory period, their new interest rate would be much, much higher - typically, at a rate they couldn't afford to make payments. At this point, the owner of the house goes into "default" because they can't make their mortgage payment. The bank really has one remedy: foreclosure.
But guess what:
The house that the borrower purchased in 2005 for $1,000,000 is only worth $800,000 in 2008. Since the borrower has mainly just been making interest payments, they didn't take any money off the principle, so they still owe about a million dollars to the bank....when the bank can only sell it for 800k and will probably only make off with about 700-750k. Lather, rinse, repeat x 100,000.
Banks are losing money.
To a certain degree, this a blessing in disguise because maybe NOW regulations will be put in place to help prevent potentially dangerous/deadly predatory lending. But overall, it's an economy adjustment that's going to take a very, very long time to fully recover from....if ever at all.
And let me just say....I love how a 14 year old thinks this and the bailout is all Bush's fault, lol.
No offense, it's just funny.
So thanks to all the guys posting in here, If you guys permit me ask something else, what are the possible solutions to this problem? How much time will it take? 10 or 20 years max? Or I am exaggerating?
(for the looks of this and what my president said yesterday night, it looks like it's going to affect our economy as well
)Watch the movie I posted above you. Its 2 hours, watch the whole thing and you will completely understand the entire situation, problem, and solutions. ZeitGeist Addendum. Join the movement..
sorry but zeitgeist is mostly bs, put together to cause blind idiots who dont research, to believe it.
some of the bank stuff is true, and its a horrible system
as for sept 11...ive always beleived it was an inside job, but some of the points taken on zeitgeist are pure bs, and stretched from the truth
and chances are somebody by now, wouldve came foward in admitting it was an inside job...people speak...sofar nobody has
and the religion section on it...well its laughable
90% of it is bs, and this is coming from soembody who is extremely against religion, its just the "facts" on the movie are so far from the truth, only the unintelligent "average" americans would buy it.
my 2 cents
some of the bank stuff is true, and its a horrible system
as for sept 11...ive always beleived it was an inside job, but some of the points taken on zeitgeist are pure bs, and stretched from the truth
and chances are somebody by now, wouldve came foward in admitting it was an inside job...people speak...sofar nobody has
and the religion section on it...well its laughable
90% of it is bs, and this is coming from soembody who is extremely against religion, its just the "facts" on the movie are so far from the truth, only the unintelligent "average" americans would buy it.
my 2 cents
I disagree. We should be regulating the people who find the need to buy houses they can't afford. In an ARM I believe the highest your rate could be raised is 2%. If you can't afford that much of a rate increase maybe you shouldn't be considering that house. Despite what some people will lead you to believe, the reason the economy is crashing is not Bush (lol), greedy CEOs. capitalism etc., it's the irresponsible consumer. If you're making a long-term investment in a house, 30 YFs are the way to go.
There is a lot at work here.
While the housing market is part of the problem, it is larger than that. Our money is not backed by anything anymore. Capitalism in it's pure form does not exist. The classic republican value would assert that the market should be allowed to do what it does unimpeded. Sadly, for years, we have propped up the free market with corporate welfare and rules that were bent to coerce that market so even more money could be made. We have created this problem by not allowing the market to work as it should.
Now we are faced with a bailout plan that apparently has money for a new athletic stadium in DC built into it. Even the solution is filled with the issues that caused the problem.
The sad fact is, most Americans have no idea what is going on, and most don't care. I think it is great that people here are interested. Too many people stand to make too much money for the true story to ever come out. But suffice it to say, there are people who are making money off of this situation even as we speak.
Sad really.
For interesting reading check out The Armed Madhouse buy Charles Palast. Confessions of an Economic Hitman by John Perkins. Or spend some time reading the work of Ron Paul.
Let's hope things get better.
Brad Henderson
While the housing market is part of the problem, it is larger than that. Our money is not backed by anything anymore. Capitalism in it's pure form does not exist. The classic republican value would assert that the market should be allowed to do what it does unimpeded. Sadly, for years, we have propped up the free market with corporate welfare and rules that were bent to coerce that market so even more money could be made. We have created this problem by not allowing the market to work as it should.
Now we are faced with a bailout plan that apparently has money for a new athletic stadium in DC built into it. Even the solution is filled with the issues that caused the problem.
The sad fact is, most Americans have no idea what is going on, and most don't care. I think it is great that people here are interested. Too many people stand to make too much money for the true story to ever come out. But suffice it to say, there are people who are making money off of this situation even as we speak.
Sad really.
For interesting reading check out The Armed Madhouse buy Charles Palast. Confessions of an Economic Hitman by John Perkins. Or spend some time reading the work of Ron Paul.
Let's hope things get better.
Brad Henderson
I couldn't agree more. I guess what I was trying to say was....in this country, you have every right to everything under the sun - including the right to be STUPID.
People who took out bad loans and KNEW it: they should have to take their licks and don't deserve to be "bailed out".
But I feel like the lending institution is JUST as guilty for making a loan to a borrower who was OBVIOUSLY going to default on the loan - but the originating broker doesn't care because they get paid and then wash their hands of the borrower.
I actually WORK in real estate and loans, so I see it everyday. The slogan of my company is "Where honesty and integrity still matter". We don't make unethical loans and we're still in business, taking new applications everyday.
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