You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Second Financial Economic Crash Coming – Huge & Soon”.
Second Financial Economic Crash Coming – Huge & Soon
Posted by admin on April 19th, 2010
Posted in Economics 
Tags: 2009, and, austrian, bailout, celente, Cities, Collapses, crash, Crime, crisis, Desperate, Economics, economy, faber, Financial, forecast, george4title, gerald, in, Jim, Mall, marc, Market, mortage, People, peter, predictions, proof, retail, revolts, revolutions, Rise, Rogers, schiff, stock, Store, tax, Tent, trends, US
People belive that the economy is getting better, I am going to feel very bad when I have to say I told you so. I hope washington does not try to bail out of all these as well.
@nonameposter
Nonsense
Hitler`s National Socialism aka Totalitarianism promised profit sharing, social insurance aka social security, accelerated the Weimer`s health care plans, aka The 25 Point Plan.
You confuse completely unregulated markets where one company can create a monopoly with a Free Enterpise system where the govt acts only as a referee and not an overlord.
Please notice, that in the whole world the definition of a republic is “state without monarch”. The word has nothing to do with representative democracy.
And yes, I despise Americans, who are fighting against their own rights, for the profit of some cooperations. Wake up, Americans, you are fighting against yourself!
You are just another brainwashed American maniac. Unregulated markets, extemly high difference between rich and poor are the reason of the crisis.
The ideology that a wellfare state would lead to totalitarism is a stupid conspiracy of some extremists. If you study fascism, you will find out, that not social rights, but the lack of them were the reason behind their strength
@quuaa1
I agree.
odd how so many people believe America is a democracy instead of a republic.
If health care is passed without an up or down vote.
we will have a constitutional crisis of MEGA porportions.
And then for sure we will have lost our republic.
Wake Up America Wake Up!
@WheelDweller this is capitalism at its best. chronologically in step wit the formation of nazi germany. its just that america used the deception of capital rather than murderous force. all the children of privilege will soon feel distress and the rest of the world probably can’t wait for us to join them.
That’s not how things work, if a company can’t make a car safe enough, they don’t sell any. Look at Audi during the 70′s, or Toyota now. The market sorts that out.
“They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.” – Ben Franklin
If the car produced by the company isn’t secure enough, then it is the government’s job to make rules and regulations about it. Companies only want to make the most money they can, even if they have to sacrifice consumer’s and society rights. Free economy is great, but it must have minimum gov’t regulation if you don’t want it to crash and cause damage to society such as workers having no rights and environmental disasters. Of course it doesn’t mean that the gov’t should do anything though
what you call houses in the USA we call it cottages in Europe. Buildings made from dry walls are cottages used mainly during summere season for recreation. And they cost a friction of a solid brick houses here.
I can not understand how people in the USA could pay thousands of dollars for such cheap dry wall dwelling. I am really sorry for them.
European
The US is a Republic. A democracy is about majority rule, a republic is about guaranteeing the basic ‘inalienable’ rights to everyone, this is where a constitution comes from. Having a ‘Free economy’ means everyone is ‘free’ to purchase or sell whatever they want to someone else without any influence, no mommy gov’t saying you can’t buy a car because they don’t like it, this is fucking bullshit.
In other word, you are promoting anarchism. Fact is, without government’s (has to be elected by the people) intervention, there is no democracy.
A year later and the AUS dollar is holding well. I’m in Australia, but have money in the UK.
AU dollar to Sterling has dropped from 2.2 – 2.4 to todays rate of 1.65, and could well decline to 1.40 by July. It may even reach parity in another couple of years.
I feel fortunate in some ways, but like I’ve been ripped off in others.
At 06:51 a condo for $2,400,000.00 now selling for $900,000.00 losing $1,500,000.00 in 2 years.
BREAKING NEWS: You morons, a condo where all you own is a piece of airspace and half of your walls and in essence you don’t own any dirt and you live in a glorified apartment is not worth what the idiots paid for them in the past few years.
I like 60 minutes
The only real journalism left in America.
I think everything caused by the basic character of the capitalism ideology, it’s the greed. however they re rob and colonize other weak countries with very rich in natural resource and put them as their slave, they are still feel lack. capitalism is dog eat dog system and it’snt properly human ideology.
Yeah, but it’s because we’re not practicing capitalism. We’re using artificial dynamics. Like the Community ReInvestment Act, which IS TO THIS DAY permitting people without jobs get $200,000 loads for houses, just because they met racial critera. ACORN squeezed this money out; the dupe who filed got a dinner or bottle of wine.
THESE are the failed transactions that caused this “asset bubble”.
If Obama actually wanted to save the economy, he’d stop this ‘bank robbing’.
@TheStrawbeery I know what you are saying there is now a HUGE imbalance between between people who save like the chinese/japenese and the IDIOTS who spend spend spend basically white assholes in the west – but if all loans were defaulted on what could the creditors do – get really annoyed ? Other then that NO actual assets have been lost anywhere. Think about it what is gone is confidence.
aht is the difference between now and 5 years things are going to get worse and worse. another 1000 jobs was lost just last week it’s going to be a big difference major things are happing i know you are in denial but at some point you have to wake up and see this freefall coming
@djay0817 Our system is not capitalism. A flat tax, with minimal government involvement (preventing murder/rape/robbery, contract enforcement) and nothing else is capitalism. I’d like to get that system back, but apparently the common sense solution is to keep throwing gasoline on the fire.
The bankruptcy of capitalism is on the way
We live in a country that does not care about people. They are just economic units as far as these analysts are concerned. If the stock market goes back up and 20% of American working families remain unemployed, then that will be just fine as far as the Wall Street gurus and our government is concerned. The system is broken!
what amazes me is how stupid all of this is…what is the difference between now and five years ago exactly, has there been a world war ?no, a huge asteroid ?no, 100 million killed by an earthquake in japan ?no…all just paper, and transistors in computers, and debits and credits in our brains…just bullshit as usual
ARMS and Commercial Defaults still coming… 1 in 10 Behind on their mortgages. The nightly news and local media are not talking bout this! Team Obama keeps telling the public they can spend their way out of this… please. Maybe a math class or two is in order?
Banks are sitting on a huge amount of defaulted properties! Our economy is plummeting! Millions of mortgages are going to reset in 2010, losing at least another 1.5 mil homes this year alone! We haven’t even seen the millions of dollars in commercial real estate defaults yet !!! Hard times and getting harder!
holy fuck!