10 Key Events That Preceded The Last Financial Crisis Are Happening Again

[Mad_Cabbie]

If you wonder, what I think about it: the Fed will manipulate the economy according to whoever they want to be presiden. It does make sense, actually. The economy soared in 2000 to keep the dems in power. Then the markets crashed almost the next day.

The economy stalled in early 2000 because of uncertainty of who would be in power. This happened on the heals of efforts to artificially slow the economy by raising interest rates.

 

[Mad_Cabbie]

No, mud - you are way off. I will post the related articles when I'm on a real computer and not my Obama phone!

Article schmarticle.

I was in the industry when it all happened. I don't need some journalist with an agenda telling me a bunch of bs i know is false.

So was I.

 

[mudwhistle]

No, mud - you are way off. I will post the related articles when I'm on a real computer and not my Obama phone!

Article schmarticle.

I was in the industry when it all happened. I don't need some journalist with an agenda telling me a bunch of bs i know is false.

So was I.

Congrats.

 

[Mad_Cabbie]

Article schmarticle.

I was in the industry when it all happened. I don't need some journalist with an agenda telling me a bunch of bs i know is false.

So was I.

Congrats.

For making a lot of cash and getting out?

Thanks.

 

[Geaux4it]

I think Peter is on it again. His take on the oil drop is gaining strength

-Geaux

The price of oil is low because of:

1) Seasonal low demand.

2) Rise in US production.

OPEC is keeping their prices down in order to compete.

Just a few months ago, Republicans were pointing to the high price of gas as an Obama failure.

Re #2-

U.S. Oil Producers Cut Rigs as Price Declines

HOUSTON — With oil prices plunging at an ever-quickening rate, producers are beginning to slash the number of drilling rigs around the country.

The national rig count had remained surprisingly resilient over recent months even as oil prices dropped by more than 50 percent since June, and it still tops the count of a year ago as domestic production continues to surge.

But an announcement on Wednesday by Helmerich & Payne, the giant contract rig company, that it planned to idle up to 50 rigs over the next month sent shudders through the industry. And that came on top of 11 rigs that it has already mothballed, meaning that in just a few weeks, its shale drilling activity will be reduced by about 20 percent.

“Low oil prices are increasingly impacting the U.S. land drilling market,” the company said in a presentation to a Goldman Sachs energy conference.



http://www.nytimes.com/2015/01/08/business/us-oil-producers-cut-rigs-as-price-declines.html

Would you like for Obama to raise the price of gas for you?

Lower gas prices are encouraging people to ride more cabs, etc. The good will far outweigh the bad.

Gas prices were low in 2008 too. And the housing debacle was just nifty.. All kinds of folks could now buy a house.

But guess what?

It didn't stop the crash from happening

Same thing just could be playing out here

-Geaux

 

[B. Kidd]

This time around, 2/3rds of working Americans are living paycheck to paycheck. When the other shoe drops, it's gonna turn ugly real fast.

 

[Geaux4it]

This time around, 2/3rds of working Americans are living paycheck to paycheck. When the other shoe drops, it's gonna turn ugly real fast.

Indeed

-Geaux

On The Verge Of The Next Economic Crisis, 62% Of Americans Are Living Paycheck To Paycheck

Nearly two-thirds of all Americans are completely and totally unprepared for the next economic crisis. As you will read about below, a new survey has found that only 38 percent of Americans have enough money on hand to cover “a $500 repair bill or a $1,000 emergency room visit”. That essentially means that 62 percent of the people in this country do not have an emergency fund. Even after the extremely bitter financial lessons that millions of Americans learned during the last recession, most of us are still choosing to live on the edge. That is utter insanity, and when the next major economic downturn strikes most people are going to find themselves totally unprepared.

The number one thing that you need to do to get ready for the coming economic collapse is to build up an emergency fund.

I know that is not the most “sexy” piece of advice in the world, but it is the truth. Just think about it. During the last recession, millions of Americans suddenly lost their jobs. Because they did not have any cushion to fall back on, millions of them also suddenly could not pay their bills and their mortgages. Foreclosures skyrocketed and countless families went from living a very comfortable middle class lifestyle to being out on the street in very short order.

And now because the people of this country have been so foolish it is going to happen again.

Because of my website, people are constantly asking me what they should do to prepare for the coming economic collapse.

I think that they expect me to say something like this…

“Sell everything that you possibly can and buy gold and silver, go purchase a llama farm, and dig a bunker where you can bury 10,000 cases of MREs.”

Not that there is anything wrong with those kinds of preparations.

But before you do anything else, you have got to have an emergency fund. My recommendation is to have an emergency fund that can cover at leastsix months of expenses in case something happens.

Sadly, a solid majority of Americans do not have any emergency cash at all. The following comes from the Wall Street Journal…

On The Verge Of The Next Economic Crisis 62 Of Americans Are Living Paycheck To Paycheck Zero Hedge

 

[skookerasbil]

There must be some gene in humans that always see doom and gloom on the horizon. The irony is none of these prognosticators saw the great recession coming and most likely they were in agreement with the deregulation of Reagan Clinton and the tax policies of Bush that lead to the greed and stupidity of the crash. Bubbles are the creation of that unpredictable species. The funniest thing about the above OP is gas prices as meaningful elements in this play. If it is high the sky is falling if it is low the sky is falling. LOL

"Wealth is the enemy of understanding." J.K. Galbraith

"As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan."

Obama Outperforms Reagan On Jobs Growth And Investing - Forbes

what a dick.....he makes it a black thing..........

 

[skookerasbil]

Geaux.......none of these dolts gets it.......deep in the Matrix of the business reports in the papers and on TV and radio.

All you can do is plan for yourself and your family. Be comforted in knowing that if you run out of stuff, you know there are plenty of places to go get stuff from people in a SHTF scenario.....like the dopes on here grabbing every new iPhone that comes out and guarding their homes with wiffle ball bats!!

Ive been stocking up for quite some time now but still feel exceedingly vulnerable.