Collapse

[Hal4511]

I am a trader, I watch the markets everyday. What is happening with Citicorp is very reminiscent of what happened in England several months ago with a real estate hedge fund. The investors were restricted from withdrawing their monies for fear of a collapse.

The situation for the economies of the world is dire. On one hand you have the Fed cutting interest rates to prop up the markets and on the other you have Bush asking for a three trillion plus budget. Doesn’t make a lot of sense does it ???

The lynchpin in all of this is the banks and their insatiable greed. They have loaned vast sums of money out to individuals and other entities knowing that they would be unable to pay them back should something go wrong. They have hedged those loans by insuring them with mortgage insurers like MBI and ABK. Now guess what the insurers themselves are defaulting on the very loans they were to insure. Insane isn’t it ???


Now add to all of this China. Thursday night China recorded a record 22% trade increase. We in this country not only have trillions in deficits but we also owe China big time. Here’s where it gets even more complex, the world markets are linked and the Chinese market can’t go up without the US market so here’s the scenario.

Chinese markets can’t continue unless the US markets do, the US markets can’t go up without the financials, the financials can’t recover without the likes of FNM (Fannie Mae), Citicorp and Merrill Lynch. All of which according to the charts are about to fall off a cliff, my guess is we are headed for a collapse.

As I said I am a trader and I am currently hedged in in various instruments …

Do your own due diligence and decide for yourself


More ...

Citigroup Stops Withdrawals from Hedge Fund: WSJ

http://www.cnbc.com/id/23180611

[fishersofmen]

I have no money, we live check to check, with about 1000 k in a savings.
I have no investments, a small retirement through my husbands union is all we have, we don't even have our house paid off after 20 years, still have to come up with a child's college education money (the last of 4 thank the Lord).

But we manage, with God's help he keeps us fed, warm and He is our God.

I thank you for the warning, God Bless You, I hope people are careful with their money those that have it.

Stay in the word, follow God's advice if He gives it to you regarding your money.


It's His anyways.

[Glory]

There is going to be a collapse. Then after that, an attack.

America is evil, the church is lukewarm, and God loves people that much, that He will allow it all to be shaken and sifted. This final church age will have to purchase from HIM gold tried in fire, and eye sauve. His will be done.

Maranatha!

[sunshine2777]

Economics is not my strong point. I have a question if anyone wants to help me understand.... if the economies "collapse" as everything indicates they will.... those of us who dont have $$... but do have the usual bills such as mortgage and car payments.... how would this affect us directly? I"m so confused on this.... also, what happens to the job market?

[Theresa]

Economics is not my strong point. I have a question if anyone wants to help me understand.... if the economies "collapse" as everything indicates they will.... those of us who dont have $$... but do have the usual bills such as mortgage and car payments.... how would this affect us directly? I"m so confused on this.... also, what happens to the job market?

And I'm wondering if I should withdraw my money from the bank and stuff it in my mattress.?.

Ultimately, I have to rely on God, because everything good I've tried to do earns me a smack in the face.

[Glory]

The last time this country had a total collapse, many lost their homes, and the rich bought up all the losses. Families such as the Rocketfellers, Vanderbilts, etc.

I know many who are keeping much of their money at home because they are older folks who went through the Great Depression, and they know the first thing they'll do is NOT allow people to withdraw their own money from the bank.

[light4mypath]

I have no money, we live check to check, with about 1000 k in a savings.
I have no investments, a small retirement through my husbands union is all we have, we don't even have our house paid off after 20 years, still have to come up with a child's college education money (the last of 4 thank the Lord).

But we manage, with God's help he keeps us fed, warm and He is our God.

I thank you for the warning, God Bless You, I hope people are careful with their money those that have it.

Stay in the word, follow God's advice if He gives it to you regarding your money.


It's His anyways.

This is us as well. I do keep my pantry and freezer completely stocked up, but that is all we can manage to do to stay 1 step ahead. We do have hubbys 401k, but that is it.

[sunshine2777]

I guess I just can't fathom the exact same results because the population of this country is so much higher. Society is just different now. If so many lost their homes, what would they do with them all? I just keep seeing pictures of the poor in other countries with several living in one house or even a bus... Is that where most of the middle class of the USA is going to end up (let alone the poor)?... Put out most people to be homeless, etc... or take away their cars.. they can't work... its an ugly spiral from what I see..I'm basically just thinking outloud in all this... you have the working middle class (if you will) being kicked out of their homes while making others leave theirs... I just dont see how it is feasible today to repeat the depression in the same manner.. does this make sense? So much is different now.... I dont think it will be good... but I dont understand how it will go down.... and just wanting to have an idea...

[Munkh]

I cannot help but think of the movie "The Grapes of Wrath" People traveling looking for work/food/shelter where ever they can find it. I think the poor\middle class may be the new migrant workers and illegal immigrants to Mexico and Canada if the NAU isnt formed as a result.

Can you imagine Mexico trying to lock the border to keep us out.

The Lords will be done.
I hope he comes quickly

[Tammy]

Hal4511 Help us all out here. How much time do you think we have to get things in order? Also what will happen to our 401K. I guess I would like to know what you are doing to get ready for this collapse? Thank you