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alstry (< 20)

ECONOMIC COLLAPSE???.........must watch!!!!!



September 10, 2009 – Comments (8)

8 Comments – Post Your Own

#1) On September 10, 2009 at 4:24 PM, jason2713 (< 20) wrote:



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#2) On September 10, 2009 at 4:38 PM, dswing (< 20) wrote:

Unfortunately he ignores that European banks were even more heavily leveraged than the US banks, so "funny accounting" can hardly be a US phenomenon.

Also the Euro currencies are even worse than the dollar, which is the only reason it is operating as the world's defacto currency. What do you want instead, the Yen, Euro? Francs? Pick your poison...

Commodities and hard assets (gold) are definitely a hedge though, so that make sense. 

I don't doubt that another wave of collapse is coming, but that is because of the inherent CDS damage not being mopped up sufficiently.

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#3) On September 10, 2009 at 4:44 PM, jason2713 (< 20) wrote:

I agree with you dswing.

Nothing has been fixed, nothing solved.  It's all political cheerleading.

Last time I checked, I'm just as broke as I was last year.  My house is 100K underwater (30%), and I'm paying all my credit cards off (debt), which has left me roughly with 2K saved up as a rainy day fund...not nearly enough.

I do have my retirement accounts I started this year and that's the only shining acheivement in my net worth.  Other than that, I'm basically insolvent, as is most americans.  

And you wonder why there's no consumers???  I'm not even that bad off, I had 10K in debt, and paid all off but 4K, and shifted balances around to 0% cards.  I've saved myself from interest sot hat's why I've been able to pay them off that easily.

However, I had decent credit, I feel sorry for people with bad credit.  It's virtually impossible to pay off debts with 24% interest and above..and you're barely scraping by.


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#4) On September 10, 2009 at 4:45 PM, mawnck (< 20) wrote:

Alstry -

With all due respect, you do not have to use EVERY source that agrees with you. In particular Vladimir Putin's mouthpiece news network.

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#5) On September 10, 2009 at 4:52 PM, jason2713 (< 20) wrote:

"Cramdown" Legislation Makes a Comeback as Foreclosures Keep Rising

Foreclosures: a problem the U.S. can't seem to kick. Foreclosure filings topped 350,000 in August, up 18% from a year ago, reports the real-estate consulting firm RealtyTrac.

And, things aren't likely to improve anytime soon. Foreclosures "are going to keep rising from here. We still have an incredible amount of unlisted inventory," says Josh Rosner, of the independent research firm Graham Fisher & Co.

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#6) On September 10, 2009 at 4:59 PM, JerseyShoreGirl (< 20) wrote:

What's the best way to get out of $'s in an IRA rollover... EFT, gold fund, etc.? .... this whole dollar crashing thing is freaky and I'd rather have physical gold than some worthless $'s in a rollover.

The sick thing is that it seems like all of this is being done on purpose; God help us all!

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#7) On September 10, 2009 at 5:02 PM, alstry (< 20) wrote:


Sept. 10 (Bloomberg) -- The U.S. Securities and Exchange Commission is “rigorously” investigating whether traders are using technology to manipulate markets, the agency’s enforcement and inspections chiefs said today.

The regulator is probing suspected “market manipulation based on complex use of technology and advanced trading systems,” said SEC Enforcement Director Robert Khuzami and acting examinations director John Walsh in testimony prepared for a Senate Banking Committee hearing. They said the inquiry is among a list of active cases, also including unspecified Ponzi schemes, hedge-fund abuses and insider trading.

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#8) On September 10, 2009 at 7:24 PM, DaBronxBull (30.50) wrote:

great the sec is hot on the case, you sould push your date out to 9/09/2109  ;)

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