DanG
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Who Predicted U.S. Economic Collapse Years Ago?
| Quote From Source: | ...please recognize that the defeat of this massive bailout is actually something Ron Paul was highly in favor. If the bill had passed it would have provided short term relief that woudl have blown up from $700 billion initially allocated to trillions of dollars and the further dilution of the dollar could truly have been catastrophic as it would have continued to accelerate the massive decline of the dollar.
So, despite the record stock market losses please understand and realize that this is a GOOD SIGN. Like many medical therapies sometimes you just get worse before you get better and this is a classic example.
| | Click source url to view entire story. |
http://articles.mercola.com/...-one-year-ago.aspx?source=nl
Not only did he warn us, he gave us the solution.
Ron Paul introduced the following bill on June 15, 2007
H.R. 2755: Federal Reserve Board Abolition Act
To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act ...
http://www.govtrack.us/congress/bill.xpd?bill=h110-2755
sigh |
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DanG
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DanG has attached this image:
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chrisisasavage
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Yup, like I said, the rest of congress was like "oh no, this kook again".
chrisisasavage has attached this image:
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DanG
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sad ain't it ?
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MountainManMike
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the guys i buy silver from also predicted this years ago. |
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Indy
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I predicted this not long after 9/11 when Dubya tried to give away credit so we could finance a fake recovery. I knew it would kill the housing market. Though I will say I never dreamed it would be quite this bad. But I knew the housing market was going to be wrecked. This was during the post 9/11 boom.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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MountainManMike
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its just been a perfect storm of crap hitting the fan all at once. |
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FatalWishes
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It's like watching a slow moving train wreck. You can see it happening, see things before they are going to happen, and yet you are powerless to stop it. There is nothing to be done except let the wreck finish.
Only problem with this wreck is other high speed trains seem to keep barreling into the original one. It has been "spectacular" in a sense.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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chrisisasavage
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| Quoting Indy - posted on 10/1/2008 at 03:31 |
I predicted this not long after 9/11 when Dubya tried to give away credit so we could finance a fake recovery. I knew it would kill the housing market. Though I will say I never dreamed it would be quite this bad. But I knew the housing market was going to be wrecked. This was during the post 9/11 boom.
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You never dreamed the banks could turn a bad situation into a much, much worse one. |
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doppelganger
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I saw it as soon as the boom started. People I talked to at the time thought I was crazy. But it's just common mathematical sense. A drastic increase in property values has to be justified. Did cost of materials skyrocket? NO! Did cost of labor skyrocket? NO! Was there massive demand due to a sudden population increase? NO!
It was all speculation... a false market. Home values inflated far, far beyond their actual value because interest rates were super low and loans were too easy to get. People don't look at the actual cost of big ticket items. They look at the monthly payments. If they think they can afford the payments, they'll pay any price for something they really want... even if it means they are 2 paychecks from bankruptcy.
Then you have banks bundling and selling these overvalued mortgages and then leveraging assets 40 to 1. Top that off with people's paychecks remaining stagnant since this started 7 or 8 years ago and what the hell did everyone think was going to happen?
It was doomed from the beginning. Just like any other wild speculative market that has caused economic collapse over the last several hundred years all over the world. |
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DanG
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interesting ain't it - that most of the readers of this site
are so much smarter than most of the idiots in wa$hington?
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thedood
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| Quoting doppelganger - posted on 10/1/2008 at 12:16 |
People don't look at the actual cost of big ticket items. They look at the monthly payments. If they think they can afford the payments, they'll pay any price for something they really want... even if it means they are 2 paychecks from bankruptcy.
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Exactly...no one plans ahead anymore these days.
"The rain it raineth every day, and every night also -- week in and week out, from the rising of the sun to the going down of the same, there is nothing but rain, rain, rain, 'The windows of heaven are opened up.' Pluvius, grieved at some earth-giving wrong, weeps as if he never would dry up." - Overland Press (Olympia, WA), December 1861 |
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posted on 9/30/2008 at 07:16
