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" Likelihood Of A Great Depression Growing By The Day "

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International experts foresee collapse of U.S. economy

By Hielema, Bert

Intelligencer, Canada

Posted 8 days ago

And you thought that I had a gloomy outlook on the economy. Now the bad news pops up everywhere.

Harry Koza in the Globe and Mail quotes Bernard Connelly, the global strategist at Banque AIG in London, who claims that the likelihood of a Great Depression is growing by the day.

Martin Wolf, celebrated columnist of the U.K.-based Financial Times, cites Dr. Nouriel Roubini of the New York University's Stern School of Business, who, in 12 steps, outlines how the losses of the American financial system will grow to more than $1 trillion - that's one million times $1 million. That amount is equal to all the assets of all American banks.

Every day now, thousands of people all over the U.S. and Great Britain are walking away from their homes - simply mailing their house keys to the banks - as housing bailout plans fail.

With unemployment growing, the next phase will hit commercial real estate making the financial institutions the unwilling owners not only of quickly depreciating houses, but also of empty strip malls and even larger shopping centres.

The next domino to fall will be credit card defaults, and after that... who knows? There are so many exotic funds out there, with trillions of dollars in paper - or rather computer-screen money - all carrying assorted acronyms, and all about to disintegrate into nothingness. Over the next couple of years, scores of banks that have thrived on these devices, based on quickly disappearing equities, will fail.

The most frightening forecast so far comes from the Global Europe Anticipation Bulletin (GEAB), available for 200 euros - about $300 - for 16 issues annually. Its prediction is quite specific.

Where my warnings never spelled out an exact date, this think tank has it pegged precisely. Here are its very words:

"The end of the third quarter of 2008 (thus late September, a mere seven months from now) will be marked by a new tipping point in the unfolding of the global systemic crisis.

"At that time indeed, the cumulated impact of the various sequences of the crisis will reach its maximum strength and affect decisively the very heart of the systems concerned, on the front line of which (is) the United States, epicentre of the current crisis.

"In the United States, this new tipping point will translate into - get this - a collapse of the real economy, (the) final socio-economic stage of the serial bursting of the housing and financial bubbles and of the pursuance of the U.S. dollar fall. The collapse of U.S. real economy means the virtual freeze of the American economic machinery: private and public bankruptcies in large numbers, companies and public services closing down."

Pray to Jesus, Allah, Buddha, Xenu - whoever your false idol happens to be.

Someone has put their head on the block and predicted a timescale of collapse - from late September.

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Guest Steve Cook
International experts foresee collapse of U.S. economy

By Hielema, Bert

Intelligencer, Canada

Posted 8 days ago

Pray to Jesus, Allah, Buddha, Xenu - whoever your false idol happens to be.

Someone has put their head on the block and predicted a timescale of collapse - from late September.

We are facing the beginning of the end of modern, complex, tecnological, energy-intensive civilisation

I know, I know....apocolypse now and all that...Mr doom and gloom

I mean it though....

I wish i didn't....

Steve

Edited by Steve Cook

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Every day now, thousands of people all over the U.S. and Great Britain are walking away from their homes - simply mailing their house keys to the banks - as housing bailout plans fail.

I think the view on the UK housing market from the US is slightly different to the one here.

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We are facing the beginning of the end of modern, complex, tecnological, energy-intensive civilisation

I know, I know....apocolypse now and all that...Mr doom and gloom

I mean it though....

I wish i didn't....

Steve

The US has resembled Rome in it's final days for a while now. Unfortunately, our UK leaders chose to copy them...

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International experts foresee collapse of U.S. economy

By Hielema, Bert

Intelligencer, Canada

Posted 8 days ago

Pray to Jesus, Allah, Buddha, Xenu - whoever your false idol happens to be.

Someone has put their head on the block and predicted a timescale of collapse - from late September.

Save your prayers for Jesus as this is a western hence christian situation

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We are facing the beginning of the end of modern, complex, tecnological, energy-intensive civilisation

I know, I know....apocolypse now and all that...Mr doom and gloom

I mean it though....

I wish i didn't....

Steve

I've always been a optimistic, get-up-and-go type of guy. Perhaps it's age, perhaps it's knowledge, but before a few months ago, I thought the future was a great place full of possibility and profit potential.

Now I don't. That frightens the life out of me. I can't even see what's 12 months ahead, let alone 12 years.

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I am getting more miserable by the minute as I read these threads. I know the guys were right when they said to join the girlies with big jugs forum and not the house price crash forum! Hindsight!

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I just posted a similar artcile from the FT. A svere recession is now a given. So I suppose the possibility of a depression is the next consideration.

The sneeze:cold analogy that applies to what happens when the US economy suffers and the effects are felt in Europe more severely has been upgraded to:

Pneumonia:near death

And no, its not different this time. The whole world has partcipated in the credit orgy.

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The US has resembled Rome in it's final days for a while now. Unfortunately, our UK leaders chose to copy them...

You mean mass orgies and bizarre sexual practices involving bound women and bulls?

Time for that Trek quote about Visigoths, Honorius and the Seventh Hill.

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You mean mass orgies and bizarre sexual practices involving bound women and bulls?

Time for that Trek quote about Visigoths, Honorius and the Seventh Hill.

Typical. There's nothing like like going on where I live.

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You see, ignorance is bliss. You would all be perfectly happy if you didnt know what was going on.

Ahh the old days, we was perfectly happy, as far as we knew.

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Guest Skint Academic

In light of this, other than that yellow stuff, where would an STR fund be best placed to see out the house price crash? *

* Not my STR fund, my parents. I'm hoping to borrow from them rather than a bank as this will provide them with a pension as well. But I want to buy after prices have crashed and want to keep those funds safe for the moment.

Edited by Skint Academic

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Guest Steve Cook
.....But I want to buy after prices have crashed and want to keep those funds safe for the moment.....

You and me both SA!

Steve

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In light of this, other than that yellow stuff, where would an STR fund be best placed to see out the house price crash? *

i hear number 7 red hasnt come up for a while! ;)

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In light of this, other than that yellow stuff, where would an STR fund be best placed to see out the house price crash? *

* Not my STR fund, my parents. I'm hoping to borrow from them rather than a bank as this will provide them with a pension as well. But I want to buy after prices have crashed and want to keep those funds safe for the moment.

Keep six months worth of cash handy and invest all of your other money in assets that are going to benefit from what the Fed is doing to the dollar, including ...

#1. Select foreign currencies, which are rising in value against the dollar, and where you can also get a nice return

#2. Select foreign stock markets, especially those that are rich in natural resources and where billions of new consumers are driving their economies upward. Examples: China, India, and most of Southeast Asia.

#3. Select natural resources and the companies that control in-demand commodities ... the very same commodities that are also rising in value as the dollar plunges. The list includes gold ... oil ... gas ... iron ... steel ... aluminum ... zinc ... nickel ... uranium ... wheat ... corn ... soybeans ... sugar ... coffee ... even water

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Guest Steve Cook
Keep six months worth of cash handy and invest all of your other money in assets that are going to benefit from what the Fed is doing to the dollar, including ...

#1. Select foreign currencies, which are rising in value against the dollar, and where you can also get a nice return

#2. Select foreign stock markets, especially those that are rich in natural resources and where billions of new consumers are driving their economies upward. Examples: China, India, and most of Southeast Asia.

#3. Select natural resources and the companies that control in-demand commodities ... the very same commodities that are also rising in value as the dollar plunges. The list includes gold ... oil ... gas ... iron ... steel ... aluminum ... zinc ... nickel ... uranium ... wheat ... corn ... soybeans ... sugar ... coffee ... even water

Excellent response....thankyou

Steve

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Guest Steve Cook
i hear number 7 red hasnt come up for a while! ;)

Hilarious response...and exactly how I feel when trying to figure out a "safe haven" investment right now.......like a bleeding gambler. There is no such thing as a "neutral" position right now

Steve

Edited by Steve Cook

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I am getting more miserable by the minute as I read these threads. I know the guys were right when they said to join the girlies with big jugs forum and not the house price crash forum! Hindsight!

Hey Tulip, sounds like you might need to join the girlies with big guns forum instead :ph34r:

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I've always been a optimistic, get-up-and-go type of guy. Perhaps it's age, perhaps it's knowledge, but before a few months ago, I thought the future was a great place full of possibility and profit potential.

Now I don't. That frightens the life out of me. I can't even see what's 12 months ahead, let alone 12 years.

Time for a couple nookie broons and a long weekend in Whitly Bay and youll be right

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I've always been a optimistic, get-up-and-go type of guy. Perhaps it's age, perhaps it's knowledge, but before a few months ago, I thought the future was a great place full of possibility and profit potential.

Now I don't. That frightens the life out of me. I can't even see what's 12 months ahead, let alone 12 years.

That's what happens when you join the church of hpc.

Those few months ago, wouldn't have been october would they? ;)

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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