Black Monday?

iamwhatiseem

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Aug 19, 2010
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Watching the IMF Chief last night on 60 minutes was a little eye-opening, in a sense that the IMF is either always painting a picture of the world collapsing or everything is fine.
People tend not to put much weight into the IMF...but this one seems different. She is known for "saying too much" and being "too honest".
If she was being "too honest" last night...her opinion on whether Europe will go into a severe recession is one of almost certainty. And America.

Today's markets are setup for a fall as maybe - just maybe this weekends news from Europe will finally affect the American market with some sense of reality.
I also agree with her assessment that this is NOT different from 2008 - that this is still 2008.
In other words 2011/2012 round II is not "another" collapse, but the result of nothing changing to fix problems that occurred in 2008.
I also agree that we could be in for a decade long recession since governments throughout the world are failing the people to do what needs done.
 
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Ah

Point of contention;

It's Black Friday and then "Cyber" Monday.

I haven't heard any mention if Black Cybers are going to protest on Analog Tuesday or be out there with "Last Chance Dads Day" [Dec 22nd].




aside from that, if Italy goes, we are all fucked. Seriously Fucked and obama will get re-elected b/c people don't like change when really bad things are occurring.
 
Ah

Point of contention;

It's Black Friday and then "Cyber" Monday.

I haven't heard any mention if Black Cybers are going to protest on Analog Tuesday or be out there with "Last Chance Dads Day" [Dec 22nd].




aside from that, if Italy goes, we are all fucked. Seriously Fucked and obama will get re-elected b/c people don't like change when really bad things are occurring.

um...I was meaning "black ___day"...like Black Tuesday...or whatever day it happens to be when the markets head into a correction.
 
Ah

Point of contention;

It's Black Friday and then "Cyber" Monday.

I haven't heard any mention if Black Cybers are going to protest on Analog Tuesday or be out there with "Last Chance Dads Day" [Dec 22nd].




aside from that, if Italy goes, we are all fucked. Seriously Fucked and obama will get re-elected b/c people don't like change when really bad things are occurring.

um...I was meaning "black ___day"...like Black Tuesday...or whatever day it happens to be when the markets head into a correction.

Suuuuure you were.





:lol:
 
Ah

Point of contention;

It's Black Friday and then "Cyber" Monday.

I haven't heard any mention if Black Cybers are going to protest on Analog Tuesday or be out there with "Last Chance Dads Day" [Dec 22nd].




aside from that, if Italy goes, we are all fucked. Seriously Fucked and obama will get re-elected b/c people don't like change when really bad things are occurring.

um...I was meaning "black ___day"...like Black Tuesday...or whatever day it happens to be when the markets head into a correction.

Suuuuure you were.





:lol:

Exactly.
 
BTW - of course Italy will go.
I am just waiting for this Administration or the FED try to squeal some way into giving the IMF a couple hundred $billion for Italy and say the usual "if we don't do this the world will end".
If Obama or the Fed give Italy a massive injection while our country is in this much of a mess???
I don't see anyway possible he could win a re-election. Even democrats will cry foul if the American taxpayers are once again the fall guy.
An excellent point made last night..."why is it when the global banks get into trouble taxpayers come to their rescue, but when global banks are doing well (as in 2009) they do not return the favor?"
'is it fair that in 2009 banks gave record bonuses and salaries immediately following the bail outs?"
"when will it come that people have had enough?"
 
Watching the IMF Chief last night on 60 minutes was a little eye-opening, in a sense that the IMF is either always painting a picture of the world collapsing or everything is fine.
People tend not to put much weight into the IMF...but this one seems different. She is known for "saying too much" and being "too honest".
If she was being "too honest" last night...her opinion on whether Europe will go into a severe recession is one of almost certainty. And America.

Today's markets are setup for a fall as maybe - just maybe this weekends news from Europe will finally affect the American market with some sense of reality.
I also agree with her assessment that this is NOT different from 2008 - that this is still 2008.
In other words 2011/2012 round II is not "another" collapse, but the result of nothing changing to fix problems that occurred in 2008.
I also agree that we could be in for a decade long recession since governments throughout the world are failing the people to do what needs done.

I think a decade long recession is probably.

We're already a couple yers into it.

My concern is that between the GOP demanding spending cuts and the DNC demanding tax increases, it will become a world wide depression of who knows how long?

Why?

Well because those to whom money is owed, expect to be paid.

But those who owe that money? Have no means to pay it back.

Like I said already, this situation is sort of the end game of capitalism.

Capital (or at least the promise of capital -- i.e., debt) aggregation at the top, that's so huge that it throws the supply-demand balance completely out of kilter.


There currently appears to be no capitalistic mechanism in place to get the debts down, and the cash into the hands of those who would produce with it.

The solution could be debt forgiveness, but one can understand why those holding those debt instruments might object to that solution, right?

Or the alternate solution is extreme austerity that will turn the world into great big feudal societies.

But I doubt those would last long, either.

NOt in this age, and most certainly not in an age where the right techology in the wrong hands can kill us all.
 
Population is more than the number of jobs available - period.
Technology has reduced the number of people to do the same production by a LARGE margin...however population has continued to rise.
The world, and especially America, overcame this disparity by treating debt as income. For the first time Americans were greatly spending more than what they made, this artificially made the population/job ratio seem not to matter.
Now that we can't borrow money on top of borrowed money...the true picture is emerging.
To truly fix the problem...we have to find a way to deal with overpopulation.
In alomost every Science-Fiction movie/book written in the last 50 years...forced population control was enforced by law. It is a matter of time before this happens.
 
The idea that no solution exists is not acceptable. At some point the gated communities will be overrun by the hungry and the lesson of history will once again be relearned - one cannot eat gold. Some debt must be forgiven, some profit must be reinvested, many jobs need to be created.

The 60-minutes interview was in short 'tough love'; but banks and bankers are and remain recalcitrant. They OWS push back ignores the fact that the banking industries are in effect a ponzi scheme and the blame for all that befell us in Oct. 2008 is a result of a financial services industry out of control.

The New Right blames entitlements as the root of all of our problems, simply raise taxes on the poor and reduce the benefits received by middle class Amercans and all will be well. Of course they ignore the entitlements given by congress to corporate America and the wealthiest 1% of Americans and instead of looking for solutions they seek more and greater entitlements - or else they will wrap their wealth in our flag and go overseas.
 
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The idea that no solution exists is not acceptable. At some point the gated communities will be overrun by the hungry and the lesson of history will once again be relearned - one cannot eat gold. Some debt must be forgiven, some profit must be reinvested, many jobs need to be created.

The 60-minutes interview was in short 'tough love'; but banks and bankers are and remain recalcitrant. They OWS push back ignores the fact that the banking industries are in effect a ponzi scheme and the blame for all that befell us in Oct. 2008 is a result of a financial services industry out of control.

The New Right blames entitlements as the root of all of our problems, simply raise taxes on the poor and reduce the benefits received by middle class Amercans and all will be well. Of course they ignore the entitlements given by congress to corporate America and the wealthiest 1% of Americans and instead of looking for solutions they seek more and greater entitlements - or else they will wrap their wealth in our flag and go overseas.

I don't think anyone thinks there is no solution...only that there is no solution that will not cause pain and outrage and people losing elections. One of the topics that she only touched on was an expansion of civil unrest into the Americas. America has not seen wide spread unrest since the 1960's, this OWS thing may or may not be just the first beginning of a more serious unrest if average Americans become involved.
The failure of the Super Committee is both unconscionable and predictable. We have an ineffective and thoroughly corrupt government that appeases the sheep by pointing to the other side...which has worked for 30 years.
 
When I woke up this morning the futures were down 150 points. Only thirty minutes into trading the market is down 234 points. In the last year the market has gone nowhere fast. The day to day hype one way or the other about one issue or another is not solving the problem.

Long term confidence from the public is needed in order for the market to have an upturn.
The problem is there is no confidence in the public 1. that congress will get its act together, and 2. that if congress can't make a profit from crony capitalism they are not going to pass the proper legislation to move the country forward.

Apparently, The People is not a stock they want to invest in. Congress needs to line their own person pockets with stocks through IPO's they buy to unjustly enrich this selves.

Back in Nov 2009 the market was down to about 6000. It is headed in that direction again unless we either vote all out or have through congress in jail for insider trading.
 
Ah

Point of contention;

It's Black Friday and then "Cyber" Monday.

I haven't heard any mention if Black Cybers are going to protest on Analog Tuesday or be out there with "Last Chance Dads Day" [Dec 22nd].




aside from that, if Italy goes, we are all fucked. Seriously Fucked and obama will get re-elected b/c people don't like change when really bad things are occurring.

um...I was meaning "black ___day"...like Black Tuesday...or whatever day it happens to be when the markets head into a correction.

Two Thumbs is ready for shopping! lol...

But the stoc market is selling...down 300 pts at 11:30ET.
 
Obamacrats are destroying this country. Dow down 330!!!

fredgraph.png
 
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