Day of Reckoning Nears

[quote]ZEB wrote:

[quote]dumbbellhead wrote:

[quote]ZEB wrote:

[quote]dumbbellhead wrote:

You want to refute anything or just throw out more platitudes of how the kool-aid tastes good?

[/quote]

There you go again hurting my feelings. And I always thought you were a nice guy.[/quote]

Me? A nice guy? Laid-back maybe but I’ve never been called nice. :wink:

Seriously, you gonna refute anything?[/quote]

You wanna know what I really think? Well, I feel that there is a day of reckoning coming, but not the kind you and your distinguished colleagues think.

That’s all I’m going to say on the topic, no more questions (walks briskly to the door).[/quote]

So you say that 2010 is better than 2009 and we are “coming out of it” but after a few refutations you realize you can’t defend it.

Tsk, tsk, tsk. And here I thought you were worth the effort.

NEXT!!!

[quote]dumbbellhead wrote:

[quote]ZEB wrote:

[quote]dumbbellhead wrote:

[quote]ZEB wrote:

[quote]dumbbellhead wrote:

You want to refute anything or just throw out more platitudes of how the kool-aid tastes good?

[/quote]

There you go again hurting my feelings. And I always thought you were a nice guy.[/quote]

Me? A nice guy? Laid-back maybe but I’ve never been called nice. :wink:

Seriously, you gonna refute anything?[/quote]

You wanna know what I really think? Well, I feel that there is a day of reckoning coming, but not the kind you and your distinguished colleagues think.

That’s all I’m going to say on the topic, no more questions (walks briskly to the door).[/quote]

So you say that 2010 is better than 2009 and we are “coming out of it” but after a few refutations you realize you can’t defend it.

Tsk, tsk, tsk. And here I thought you were worth the effort.
[/quote]

You have that all wrong my friend. It’s the effort that’s not worth it. People will always see what they want to see. Post after post to you on this topic is really not worth it. So believe what you like. We will be talking in the future at some point and it will be all to clear to both of us which way the economy has gone - we can engage then.

Zeb

[quote]Charlemagne wrote:
http://www.bloomberg.com/news/2010-11-26/ireland-s-relief-proves-fleeting-as-day-of-reckoning-nears-euro-credit.html

This is just the beginning. If Ireland goes under, the UK is very likely next. Spain, Portugal and Italy are not too far behind. [/quote]

^^^^^This. And when other nations see the benefits of default, the dominos will really start to fall.

Housing is collapsing here, pulling down banks, whose primary asset class is RE. Given the fractional reserve nature of banking, and the collapse in Europe, our banks (147 failed so far this year) should begin to really drop like flies.

The Great Depression of the 21st Century is gathering steam and getting ready to really roll.

Hey Zeb, I found some more info for you so you can sleep well at night knowing that everything is under control. Btw, I can understand if you don’t want to put forth the effort to refute anything listed here since these facts are damning enough.

Total of Foreclosed homes as of December 1st 2010:
1,594,125 homes were foreclosed since November 2008.

Between Nov. 2008 and Nov. 2010 there were 57,400 factories in the USA that closed up.
Between 2001 and 2008 there were 42400 that closed their doors.
That makes a total of 99,800 factories that closed up on US soil since 2001.

There were 219 banks that closed their doors between Nov. 2008 and Dec 2010.
Some banks plan to close 5,000 brances by 2012 alone.

Between 2011 and 2012 there is an estimated 1,000 banks that will close their doors.
See just one list of banks that closed up in 2010.
http://www.bankrate.com/finance/savings … banks.aspx
There are at the moment 7713 banks in financial trouble in the USA. Almost the entire FDIC insured listing.
http://www.fdic.gov

In 2005 there were 744,000 homeless people in the United States. In Nov. 2008 there were 871,888 homeless people in the USA. In 2009 there were 1.56 million homeless in the USA. Today there are more than 3.5 million homeless families in the USA as of Dec. 1st 2010.
To give an idea of how many homeless all around including gangs, missing children etc. Times that by 2 since there are those who go unrecorded that live on the streets, in gangs, children missing living on the streets, and various illegal aliens who are not recorded living on the streets that go unaccounted for…

More than 42 million Americans are now on food stamps.

By the June of 2009 there were 171 tent cities in the USA. Now there are 1,991 tent cities in the USA as Dec 1st 2010…
The last tally found was 1,991 tent cities that could be recorded.

The Government and Federal Reserve spent over 90 Trillion dollars of tax payers money since 2008. You have to wonder where that money went if it didn’t build new cities and even the money spent in the last 6 months could have made every American a multi-millionaire. Food stamps are only a few billion each year. So where is all that money going? Not in your pocket, but in some bankers pockets.

Read an interesting analysis over at Zerohedge: The problem is that our debt is up like 30 trilion in the last 10 years but M2 is only up 6 trillion. This is HIGHLY deflationary – the money simply isn’t there to service such debt. Even if they printed 24 trillion, it would just equal the debt now. They made a powerful case for a deflationary depression. The 600 billion QE2 is a raindrop in a dry desert.

LOL, so how does all your gold help you in deflationary times?

[quote]ZEB wrote:
LOL, so how does all your gold help you in deflationary times?[/quote]

I going chime in to say bingo ZEB. I dont understand those who put so much in gold. Fear is driving the price up

[quote]farmerson12 wrote:

[quote]ZEB wrote:
LOL, so how does all your gold help you in deflationary times?[/quote]

I going chime in to say bingo ZEB. I dont understand those who put so much in gold. Fear is driving the price up[/quote]

Agreed. I wish I had a pile of it, I would sell it all now before the bubble bursts.

Fuck, reading this forum sometimes really makes me feel like the world is fucked.

[quote]destroyedquads wrote:
Fuck, reading this forum sometimes really makes me feel like the world is fucked. [/quote]

People have been preaching the end of the world throughout history. Don’t let it depress you.