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Recession--Depression??

Do You think the US Economy is Heading into a Recession--or a Depression?

  • No-the Economy is doing Fine

    Votes: 0 0.0%
  • Yes- a mild short Recession

    Votes: 0 0.0%
  • Yes- a prolonged Recession/Depression

    Votes: 0 0.0%
  • Economic Collapse

    Votes: 0 0.0%

  • Total voters
    0

MoGal

Well-known member
I imagine this will affect the stockmarket this week...... from www.whatdoesitmean.com

March 8, 2008

US Prepares For ‘Doomsday’ Rule As British Forces Arrive In America

By: Sorcha Faal, and as reported to her Western Subscribers (Traducción al Español abajo)
Russian Military Analysts are reporting in the Kremlin today that China’s President Hu has refused the United States request for over $2 Trillion in emergency assistance to bolster the collapsing American Dollar, and asked for in a personal meeting with the former US President Bush, the father of the current President Bush.

Of the worst fears of the American Bush-Clinton Monarchy, which has ruled the US these past 20 years, these reports state, is the collapse of their privately owned hedge fund called the Carlyle Capital Fund and which is owned by their secretive war profiteering International behemoth Carlyle Group led by the Bush Family, Former British Prime Ministers, and others of the West’s ruling elite, and as we can read as reported by Britain’s Independent News Service:

"A fund managed by the US private equity giant Carlyle Group has become the latest to be hit by demands from lending banks making calls on loans secured on mortgage bonds.

Carlyle Capital Corp, a publicly traded fund that holds $21.7bn (£10.8bn) of securities, said it had received a default notice from one of its lending banks and expected at least one more after it failed to meet demands for extra security from jittery counterparties.

The Guernsey-based fund has struggled to meet more than $60m of margin calls and demands for extra collateral since the start of the month. It met the calls until Wednesday, when it was landed with more than $37m of demands and missed four out of seven calls."

To the greatest concerns, however, of Russian Military Commanders are the reports of President Bush’s younger brother Neil’s ‘sudden’ visit to the South American Nation of Paraguay as a guest of the secretive South Korean backer of the Bush-Clinton Monarchy, and self-proclaimed "messiah" Reverend Sun Myung Moon, and as we can read as reported by the Associated Press News Service:

"Neil Bush, younger brother of U.S. President George W. Bush, called on Paraguay's president as the guest of a business federation founded by the Rev. Sun Myung Moon.

A presidential press office source, who spoke on condition of not being named, confirmed the younger Bush met President Nicanor Duarte on Thursday along with a delegation from the Universal Peace Federation, a group associated with Moon."

[It is important to note that the Bush Family has reportedly already made plans to relocate from the United States to Paraguay, and as we had reported on in our October 15, 2006 report titled "US President Bush Makes Massive Land Purchase In Paraguay Ahead Of Expected War Crimes Charges", but denied by the US State Department, as that South American Nation has long been a refuge for Nazi War Criminals and their Western backers, of which the Bush Family were one of.]

The timing of this Bush Family-Moon visit to Paraguay during that Nation’s horrific outbreak of yellow fever, and which has caused its President to declare a ‘State of Emergency’, meant, these reports say, that ‘normal’ abilities of [deleted] to track the whereabouts of these subjects was severely hampered due to the many restrictions placed upon the free movement of people within the country.

This has led Russian Commanders to believe that the Bush-Clinton Monarchy may be preparing for what the Americans themselves have titled a ‘Doomsday’ scenario under new laws passed in the US in 2005 and which has been described as:

"No longer do Capitol Hill legislators need a quorum to do the people’s business. Now under a piece of hotly contested legislation passed without media attention on Jan. 5,[2005] only a few members of Congress are needed to do official business in the event of a catastrophe instead of the usual 218. Critics claim H. Res. 5 paves the way for tyranny, allowing “only a few to decide for so many.”

As we had previously reported on in our February 24, 2008 report titled "Canadian Troops To Patrol US Cities As Food Riots Feared", and where Russian Military Analysts had voiced their fears of the agreement signed by the Americans and Canada to allow their troops on each others soil, these new reports detail an even darker picture that details that British, and not American, Officers are currently being trained to ‘control’ US citizens, and as we can read as reported by the LJWorld News Service in their report titled "Brits overrun town for training exercise", and which says:

"Thursday may have seemed like any other day for most in Leavenworth, but for about 180 British officers, an enemy was on the loose threatening civilians. Tactical forces were moved in, and soldiers took their positions outside schools and churches preparing to isolate the terrorist activity. While it may have been a fictional enemy in theory, for visiting officers with the United Kingdom’s Intermediate Command and Staff Course who were roaming the streets of Leavenworth, the tactical solutions they used to end the threats were real."

In previous reports we had detailed how the US Military had begun asking their soldiers if they would fire on American citizens and which has led to their War Leaders request to have Canadian and British Military Forces take command in putting down the expected rebellions in the United States as they are more likely to have no problems killing those not of their own nationality.

Facing the American people now is the very real coming destruction of their Nation, and which their leaders have planned both for the success, and failure of, no matter the cost in human lives.

But, in viewing from outside this destruction of the United States, it remains unsettling how few of these people realize the great danger they are in. It is as if they believe that by their not knowing the truth of the monsters who are leading them they themselves will somehow be protected.

And, as their once World-valued currency plummets into worthlessness, as tens of thousands of them begin to lose their jobs, as the price they pay for fuel and food continues skyrocketing, as they continue to be forced out of their homes by the millions, as many millions more of them have watched the value of their homes crumble into dust, virtually none of them are preparing for the catastrophes to come.

One cannot help but believe that these peoples are all insane.

© March 8, 2008 EU and US all rights reserved.

[Ed. Note: The United States government actively seeks to find, and silence, any and all opinions about the United States except those coming from authorized government and/or affiliated sources, of which we are not one. No interviews are granted and very little personal information is given about our contributors, or their sources, to protect their safety.]
 
A

Anonymous

Guest
Breaking News from MoneyNews.com

Report: Fed Tells Banks to Find More Cash, Quick

Concern is growing among bank regulators that the country’s biggest financial institutions won’t be ready when the worst news hits in the months ahead.

The Wall Street Journal is reporting that officials with the Federal Reserve are taking highly unusual steps to convince banks to go get more cash however they can — from private equity and from foreign governments flush export earnings.

So-called sovereign wealth funds — mostly in Asia and oil-rich Arab states — have already dumped tens of billions to major institutions, including Citigroup, Bear Stearns and Merrill Lynch.

Now the Federal Reserve and Office of the Comptroller of the Currency, which normally shy away from suggesting banks seek cash for fear of inciting panic, are telling banks to get ready for more bad news, reports the Journal.

At issue are impending losses on mortgage loans as millions of adjustable-rate loans begin to reset. Despite a virtual flood of cash into the system from the Fed and lockstep rate cuts, credit markets remain locked up.

That has people worried that banks won’t be ready when foreclosures — already a record 2 percent of homes — skyrocket in the next few months.

Tens of billions in new losses in the first quarter are forecast as writedowns accelerate. According to the Federal Deposit Insurance Corporation — which guarantees personal bank deposits to the first $100,000 — delinquent loans now outpace bank reserves, for the first time since 1993.

Insured banks and thrifts set aside $31.3 billion to cover loan losses in the fourth quarter, up from $9.9 billion a year earlier, the FDIC reports.

Washington Mutual is already out seeking cash from deep pockets, reported the Journal, citing unnamed sources. WaMu did not comment.

Meanwhile, comments this week from Sameer al-Ansari, head of Dubai International Capital, caused investors to dump shares of Citigroup in droves.

Al-Ansari suggested that sovereign wealth infusions might not save Citi from bankruptcy. He later backtracked on the statement.

At issue are home buyers, who seem content to wait and see if home prices ratchet down another huge notch before getting in.

Problem is, a sharp fall also sets expectations of another sharp fall to follow — which could instead slow home buying for longer still.

"If house prices fall more than expected, and that condition leads to more adverse expectations for future changes in house prices, then housing demand could fall as a result," Federal Reserve Governor Frederic Mishkin warned a group of key economists meeting in the Washington this week.

At the current sales pace for previously owned homes during January, there was more than 10 months' worth of homes for sale, according to the National Association of Realtors.

Meanwhile, new-home sales are forecast to decline 23.7 percent to 590,000 this year before rising 7.2 percent in 2009, according to the latest forecast by the National Association of Realtors (NAR).

Housing starts, including multifamily units, will probably fall 25.1 percent to 1.01 million this year, and then continue to slip another 2.7 percent in 2009, NAR said.

"As builders sharply cut back production, vacant new-home inventory has consistently declined over the past year-and-a-half,” said Lawrence Yun, NAR chief economist.

"That will permit a quicker return to balanced market conditions in many local areas.”
 
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Anonymous

Guest
Gov. Corzine: We're in a Recession

MoneyNews
Thursday, March 13, 2008


NEW YORK -- New Jersey Governor Jon Corzine, who once led Wall Street giant Goldman Sachs , Wednesday told Reuters the U.S. economy already is in a recession that could persist, and that federal authorities have only taken the first steps toward turning things around.

"I certainly concur with the view that we are in a recession," Corzine said in an exclusive interview at Reuters' U.S. headquarters in New York. "We have pretty strong indications that we have seen a major, major downshift in the economy. I think we'll find we started in the last quarter of last year."

The New Jersey Democrat became governor of the 11th largest state last year after a short stint as U.S. senator and a 24-year career at Goldman Sachs. Corzine rose through the ranks as a bond trader to become chairman and CEO of what is now the world's largest securities firm, and he played a key role in its 1999 conversion from a partnership to a public company.

Corzine spoke the same day a quarterly survey of corporate finance chiefs found 54 percent believed recession has already begun and would last longer than other recent downturns.
 
A

Anonymous

Guest
Breaking News from MoneyNews.com

Borrowers Go to Court to Slow Foreclosures

A new report by Bear Stearns indicates that by the end of 2008, foreclosure proceedings will be under way on a staggering 50 percent of existing single-family home sales.

Historically, only a small percentage of foreclosures are ever challenged by borrowers. But, with banks in a frenzy over the subprime mortgage crisis and foreclosures rising fast, some homeowners are starting to hit back hard.

They are starting to challenge foreclosure proceedings in court, foiling recovery plans and further skewing the secondary market for securitized loans, experts tell MoneyNews.

"Challenging foreclosures in court is a great way for homeowners under pressure to buy some time and hopefully turn things around for themselves financially,” says Paul F. Davis, a realtor and author based in Orlando, Fla.

"They’ve got nothing to lose and everything to gain.”

Debt securitizations are being dogged as foreclosed loans from lenders, among them Ameriquest, Fremont, New Century, and WMC, are being contested in courts in hard-hit states like Florida, Nevada, and Ohio.

Judges are turning out to be surprisingly sympathetic.

Consider a precedent-setting new case in Massachusetts. A judge there has stopped all foreclosures from loans originated by lender and servicer Fremont, as his honor sought to determine whether the loans were made on terms that violated state lending laws.

In a sense, judges are regulating the industry from the bench, seeking to reform mortgage lending mores and standards.

It’s not really a shock, says Davis, "considering the corrupt lending practices of mortgage companies under scrutiny nationally.”

Borrowers are using a number of tactics in court to challenge the foreclosures.

For example, many say that loan agreements, and the law, require forbearance, meaning extra time for the borrower to get back on his or her feet and pay the loans on time again.

Others are raising due process arguments, saying they were not properly served with papers from the lender, even arguing that the lender has no standing in court.

The court proceedings are also impacting the plans of property speculators who want to purchase distressed projects from lenders at dramatically reduced rates.

Normally, such vulture investors could be counted on to quickly clean up distressed properties and get markets moving toward realistic price levels, prompting a recovery.

Legal action threatens to slow that process to a crawl.

"Much of the activity right now is from value investors who are purchasing a lot of property from banks at a discount,” says Jeremy Brandt, a spokesman for value investor 1-800-CashOffer.
 

MoGal

Well-known member
Wall Street fears for Next Great Depression (1930's style)

Sunday, 16 March 2008


Wall Street is bracing itself for another week of roller-coaster trading after more than $300bn (£150bn) was wiped off the US equity markets on Friday following the emergency funding package put together by the Federal Reserve and JPMorgan Chase to rescue Bear Stearns.


One UK economist warned that the world is now close to a 1930s-like Great Depression, while New York traders said they had never experienced such fear. The Fed's emergency funding procedure was first used in the Depression and has rarely been used since.

A Goldman Sachs trader in New York said: "Everyone is in a total state of shock, aghast at what is happening. No one wants to talk, let alone deal; we're just standing by waiting. Everyone is nervous about what is going to emerge when trading starts tomorrow."

In the UK, Michael Taylor, a senior market strategist at Lombard, the economics consultancy, said on Friday night: "We have all been talking about a 1970s-style crisis but as each day goes by this looks more like the 1930s. No one has any clue as to where this is going to end; it's a self-feeding disaster." Mr Taylor, who had been relatively optimistic, has turned bearish: "It really does look as though the UK is now heading for a recession. The credit-crunch means that even if the Bank of England cuts rates again, the banks are in such a bad way they are unlikely to pass cuts on."

Mr Taylor added that he expects a sharp downturn in the real UK economy as the public and companies stop borrowing. "We have never seen anything like this before. This is new territory for us. Liquidity is being pumped into the system but the banks are not taking any notice. This is all about confidence. The more the central banks do, the more the banks seem to ignore what's going on."

Mr Taylor added that the problems unravelling at Bear Stearns are just the beginning: "There will be more banks and hedge funds heading for collapse."

One of the problems facing the markets is that, despite the Fed's move last week to feed them another $200bn, the banks are still not lending to each other.

Full article: http://www.independent.co.uk/news/business/news/wall-street-fears-for-next-great-depression-796428.html
 

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