The Economy is on the Edge of Oblivion

Photo by Mary Ellen Mark. Her work is a lot like Margaret Bourke-White during the 1930’s Depression era in America. Think it couldn’t happen again? [INCOG]

by Jeff Davis

This one pretty much speaks for itself, a CNBC news article reports: “In an exclusive interview with CNBC.com, Wilbur Ross, chairman and CEO of WL Ross & Co., says he sees possibly as many as a thousand bank closures in the coming months. And this will create opportunities for investors.”

Opportunities? Battles, massacres, and natural disasters create “opportunities” for vultures. Never mind the rest of this gibberish. This character says -and he’s probably right- that the collapse of the Western world’s entire financial system will create “opportunities.” Well, sure. Any rich people who didn’t invest in any of the banks and mortgage lenders or financial institutions, which are currently going bankrupt, will no doubt be able to buy lots of foreclosed houses at bargain prices.

When the dust finally settles on the current subprime crisis, there will be four or five huge multi-national mega-banking monstrosities where as before there were several thousand smaller banks.

Notice that our government is selectively bailing out some institutions while others are going on the trash heap of history. According to existing law NONE of these PRIVATE institutions should be getting bail outs. Most of these lending institutions are failing because they chose to make subprime loans out of pure, unadulterated greed. They deserve to go bankrupt. The only people who legally are entitled to bail outs are people with bank accounts, which are covered by FDIC insurance.

The subprime crisis is growing beyond all imaginable bounds. The Freddie Mac and Fannie Mae bail out could cost about one trillion dollars, possibly a lot more. This only covers about 40 to 50 percent of the home mortgages made in the US. Imagine doubling that cost.

Mortgage lenders, banks and financial investing firms are the first financial dominoes to be knocked over. Eventually the crisis will spread to other parts of the economy. New home construction will fall off sharply as much stricter requirements for home loans are put into effect (assuming anyone will want to make a home loan in the future). Construction supply firms will be badly affected. Real estate agents will be checking their cell phones to see if they’re still working as the real estate market goes almost dead.

The hyper-inflation of 1920’s Weimar Germany ended up making paper money virtually worthless. [INCOG]

People tend to spend a lot less money when they suspect a Depression is right around the corner. New car sales will drop off sharply. Our economy is about two-thirds dependent on consumer spending so once the panic starts spreading, the crisis will spread to all segments of our economy. It’s a good idea to start saving money while you still have a job and do everything you can to prepare for what could be a Second Great Depression.

Source Document

                   

Nobel Prize Winning Economist: Crisis As Bad As Great Depression Or Worse
Former chief economist for the world bank says “you have to be in fantasy land to say that everything is fine”

Two time Nobel-prize winner and former chief economist of the World Bank, Joseph Stiglitz has warned that the current financial crisis will continue for at least another eighteen months and in many ways represents a worse situation than the one faced by Americans during the great depression of the 1930s.
[…]

Stiglitz is no stranger to positioning himself in opposition to the establishment on the economic front. In October 2001 he caused controversy when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing out their economies.
[…]
Over the next twelve months, Stiglitz predicts that house prices will continue to fall, more mortgages will go into foreclosure and more financial firms will be put into crisis.

“I am particularly worried about what I call the ‘real economy’. Basically when the financial system starts getting weak, it is not in a position to provide credit, to provide loans, to provide mortgages and that means in turn that housing prices are going to fall further, businesses are going to contract, unemployment is going to grow and it is a downward vicious cycle…

In a long term prediction 22 months ago, Stiglitz told listeners of the Alex Jones show that he believed a global economic crash would occur within 2 years. With major financial institutions now folding every week, others touting mergers just to stay afloat and stocks continually plummeting on a daily basis it seems that prediction is coming to pass. Read more here

The Scent of Fear: AIG’s Rotten Paper Could Bring Down The House

For the first time in this unfolding financial crisis, I felt personally scared by the news. Not about my money, but about the potential for catastrophe. The Federal Reserve’s lightning rescue of AIG has the smell of systemic fear. The house of global finance is on fire and everyone is running for the exits, no sure way to turn them around. What’s next? The question itself is ominous, because there are no good answers.

It’s The Derivatives, Stupid Why Freddie, Fannie and AIG had to be bailed out and how private banking (The Fed) is buying the world’s largest insurance company — with taxpayer’s money!

The answer may have less to do with saving the insurance business, the housing market, or the Chinese investors clamoring for a bailout than with the greatest Ponzi scheme in history, one that is holding up the entire private global banking system. What had to be saved at all costs was not housing or the dollar but the financial derivatives industry; and the precipice from which it had to be saved was an “event of default” that could have collapsed a quadrillion dollar derivatives bubble, a collapse that could take the entire global banking system down with it.

The Corporate Communists Buy Themselves More Time — With OUR money!

“Deals that go well and turn a profit are booked down privately to the Players’ account; deals that go sour and lose money are booked down to the taxpayers’ and heaped onto the National Debt. The Fed can always print more dollars and boy, aren’t they always doing so!”

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About INCOG MAN

100% White boy born and bred in the USA. Dedicated to awakening Whites to all the crap being done to our decent, fair-minded race and exposing the devious brainwashing rats behind it all. Wake the ef up, White people!
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32 Responses to The Economy is on the Edge of Oblivion

  1. Sick N Tired says:

    Alex Jones has bee forseeing this coming for the last couple of years. If I was you get all the food you can, water filters, things like toilet paper, guns, ammo and a gas mask. We may all lose our homes. Even if it is paid off the way these thieves work.

  2. Greg Bacon says:

    Wanna know what’s going on behind those massive closed doors of the Federal Reserve , where people like Don KOHN, F. MISHKIN, Kevin WARSH and Randall KROSZNER serve on the Fed’s Board of Governors and the Fed’s HIgh Priest, Ben SHALOM BERNANKE meet to decide what they are going to do with and to, YOUR money?

    Oh, and BTW, the Fed was previously led by Alan GREENSPAN.

    Or what’s the latest on the wholesale looting of personal assets out of Wall Street, via firms like the now bankrupt Bear Stearns, formerly run by Alan SCHWARTZ or AIG, formerly run by the GREENBERGS or Sandy WEILL, formerly of Citigroup are up to and what schemes they’re hatching to separate you from your money?

    Weill was largely responsible for tearing down the firewall between commercial banking and investment banking by getting Congress to toss overboard that firewall, known as the Glass-Steagall Act, which was the result of the 1930’s Great Depression.

    Weill has made immense sums of money since the Financial Services Modernization Act of 1999, the very same law that allowed Wall Street buccaneers to go on an orgy of excess that is being played out today, both on Wall Street and Main Street.

    Sandy Weill in all of his majestic glory

    Where to find out this hard hitting news about the latest Wall Street shenanigans?

    CNN, of course, with what they describe as their “Money Team,” Allan CHERNOFF, Susan LISOVICZ or Josh LEVS

    Chernoff, Lisovicz and Levs?

    That gang is supposed to dig up the dirt on the 13th Tribe?

    Get out of here.

    Here’s the solid advice they gave this morning:

    Don’t panic!

    Don’t move your money out of the stock market!!

    Don’t withdraw YOUR money out of the bank!!!

    Not yet, since there’s still some money out there the Tribe hasn’t snatched and don’t make it hard on yourself by trying to hide your hard earned cash.

    They’ll go easier on you if you make it easy on them.

    Take it from CNN’s Money Team.

  3. incogman says:

    Yeah, Alan GREENSPAN allowed the Derivative markets for his Jew friends to gamble and not add JACK to the value of this country. His wife Andrea Mitchell (she’s really a Jew) has a cushy job on MSNBC dissemanating JEW propaganda.

    Greenberg, former CEO of AIG also has connections to Zionists involved in 9/11.

    All Jews sucking America dry before the SHTF.

  4. Anonymous says:

    Just a Few Blocks From the Bustle of Wall Street Sits $200 Billion in Gold

    http://abcnews.go.com/Business/story?id=5835433&page=1

  5. African Man says:

    We are finally seeing through the lies that our enemies have put into the world over us and which are so huge and gigantic that the uninitiated do not dare to doubt them. These lies live off the gullibility of the Germans, who cannot believe that anyone is capable of such heinousness as has appeared in the Holocaust-religion.

    It is two events which will now quickly put an end to the Rule of the Lie:

    1. Holocaust
    2. the feigned “Attack on America” from the 11th of September 2001.

    http://globalfire.tv/nj/08en/history/horst_mahler_auschwitz.htm

  6. African Man says:

    Another good article above about HITLER BEING RIGHT!

  7. Sick N Tired says:

    Yep, just think how different things would have been had Hitler been accepted into the art school he wanted in so bad. He was really upset, taking rejection hard.

    At least this German is aware of things, The whole world is slowly getting there and that is why they have killed 2 men who heard bombs, saw fire and dead bodies before the planes hit. They don’t want anyone left to testify. Glad they got it on film first. Then before that they hung the DC madam who was going to spill the beans on Cheney and others, They “suicided” one of her girls who said she was going to talk too. These are some bad murderers. I wish someone could get to them and get rid of them by whatever means possible.

  8. Grumblingone says:

    We could use a little traffic here.

    Keep an eye on Iceland.

    Iceland cbank change is key in new plan: president
    http://www.reuters.com/article/gc06/idUSTRE50Q6OP20090127
    Who are they going to put in charge? I wonder.

    Iceland Left-Greens say govt announcement due Sat
    http://www.reuters.com/article/latestCrisis/idUSSAT006012
    Left-Greens and Social Democrats seem to be running things there now.

  9. Scott Patrick Thornberry says:

    Only the weak, the truly weak, need a boogie man to lay their own inadequacy
    on. Wow, a conspiracy to run the world, is this news to you people? Yeh,
    nigger and jew hating will really get us where we AS A SPECIES need to go,
    in a hurry, it seems to me. Don’t get me wrong, I love reading your stuff,
    gut bucket funny, but musn’t one not commit the Moral $in of Conceptual
    Overreach, i.e. ignoring the “unknown unknowns”, assuming you know
    “everything”, or anything at all for that matter. Scott Patrick Thornberry
    is my real name, what are all the big bad internet poseurs afraid of?

  10. Scott Patrick Thornberry says:

    Only the weak, the truly weak, need a boogie man to lay their own inadequacy
    on. Wow, a conspiracy to run the world, is this news to you people? Yeh,
    nigger and jew hating will really get us where we AS A SPECIES need to go,
    in a hurry, it seems to me. Don’t get me wrong, I love reading your stuff,
    gut bucket funny, but musn’t one not commit the Moral $in of Conceptual
    Overreach, i.e. ignoring the “unknown unknowns”, assuming you know
    “everything”, or anything at all for that matter. Scott Patrick Thornberry
    is my real name, what are all the big bad internet poseurs afraid of?

  11. Scott Patrick Thornberry says:

    Only the weak, the truly weak, need a boogie man to lay their own inadequacy
    on. Wow, a conspiracy to run the world, is this news to you people? Yeh,
    nigger and jew hating will really get us where we AS A SPECIES need to go,
    in a hurry, it seems to me. Don’t get me wrong, I love reading your stuff,
    gut bucket funny, but musn’t one not commit the Moral $in of Conceptual
    Overreach, i.e. ignoring the “unknown unknowns”, assuming you know
    “everything”, or anything at all for that matter. Scott Patrick Thornberry
    is my real name, what are all the big bad internet poseurs afraid of?

  12. Scott Patrick Thornberry says:

    Only the weak, the truly weak, need a boogie man to lay their own inadequacy
    on. Wow, a conspiracy to run the world, is this news to you people? Yeh,
    nigger and jew hating will really get us where we AS A SPECIES need to go,
    in a hurry, it seems to me. Don’t get me wrong, I love reading your stuff,
    gut bucket funny, but musn’t one not commit the Moral $in of Conceptual
    Overreach, i.e. ignoring the “unknown unknowns”, assuming you know
    “everything”, or anything at all for that matter. Scott Patrick Thornberry
    is my real name, what are all the big bad internet poseurs afraid of?

  13. Scott Patrick Thornberry says:

    Only the weak, the truly weak, need a boogie man to lay their own inadequacy
    on. Wow, a conspiracy to run the world, is this news to you people? Yeh,
    nigger and jew hating will really get us where we AS A SPECIES need to go,
    in a hurry, it seems to me. Don’t get me wrong, I love reading your stuff,
    gut bucket funny, but musn’t one not commit the Moral $in of Conceptual
    Overreach, i.e. ignoring the “unknown unknowns”, assuming you know
    “everything”, or anything at all for that matter. Scott Patrick Thornberry
    is my real name, what are all the big bad internet poseurs afraid of?

  14. incogman says:

    Look Thornberry, I could care less about having to have a “fall guy.” The deal going down should readily apparent to anyone with half-a-brain. So don’t you be coming off like the brainiac you think you are.

  15. Scott Patrick Thornberry says:

    Can you prove conclusively in a few simple paragraphs that incogman is not
    a fiendishly clever Mo$$ad black mind fuck operation?

  16. Scott Patrick Thornberry says:

    Can you prove conclusively in a few simple paragraphs that incogman is not
    a fiendishly clever Mo$$ad black mind fuck operation?

  17. Scott Patrick Thornberry says:

    Can you prove conclusively in a few simple paragraphs that incogman is not
    a fiendishly clever Mo$$ad black mind fuck operation?

  18. Scott Patrick Thornberry says:

    Can you prove conclusively in a few simple paragraphs that incogman is not
    a fiendishly clever Mo$$ad black mind fuck operation?

  19. Scott Patrick Thornberry says:

    Can you prove conclusively in a few simple paragraphs that incogman is not
    a fiendishly clever Mo$$ad black mind fuck operation?

  20. incogman says:

    Fiendishly clever… I love it. Thanks!

  21. Scott Patrick Thornberry says:

    Why don’t you talk about something real, like how to insure adequate life support for several billion of “Gods Children” in perpetuity in here on
    Spaceship Earth. I’m waiting for the proof. No weaseling. So tribe X,
    under the usual historical conditions of vicious and endemic inter-tribal
    war, using every dirty fighting trick in the annals of war, finds itself
    in a highly temporary position of existential…what? Simple analogy-
    if your house is burning down do you give a fuck what the rats are
    doing? You want to be bad assed, go after Monsanto.

  22. Scott Patrick Thornberry says:

    Why don’t you talk about something real, like how to insure adequate life support for several billion of “Gods Children” in perpetuity in here on
    Spaceship Earth. I’m waiting for the proof. No weaseling. So tribe X,
    under the usual historical conditions of vicious and endemic inter-tribal
    war, using every dirty fighting trick in the annals of war, finds itself
    in a highly temporary position of existential…what? Simple analogy-
    if your house is burning down do you give a fuck what the rats are
    doing? You want to be bad assed, go after Monsanto.

  23. Scott Patrick Thornberry says:

    Why don’t you talk about something real, like how to insure adequate life support for several billion of “Gods Children” in perpetuity in here on
    Spaceship Earth. I’m waiting for the proof. No weaseling. So tribe X,
    under the usual historical conditions of vicious and endemic inter-tribal
    war, using every dirty fighting trick in the annals of war, finds itself
    in a highly temporary position of existential…what? Simple analogy-
    if your house is burning down do you give a fuck what the rats are
    doing? You want to be bad assed, go after Monsanto.

  24. Scott Patrick Thornberry says:

    Why don’t you talk about something real, like how to insure adequate life support for several billion of “Gods Children” in perpetuity in here on
    Spaceship Earth. I’m waiting for the proof. No weaseling. So tribe X,
    under the usual historical conditions of vicious and endemic inter-tribal
    war, using every dirty fighting trick in the annals of war, finds itself
    in a highly temporary position of existential…what? Simple analogy-
    if your house is burning down do you give a fuck what the rats are
    doing? You want to be bad assed, go after Monsanto.

  25. Scott Patrick Thornberry says:

    Why don’t you talk about something real, like how to insure adequate life support for several billion of “Gods Children” in perpetuity in here on
    Spaceship Earth. I’m waiting for the proof. No weaseling. So tribe X,
    under the usual historical conditions of vicious and endemic inter-tribal
    war, using every dirty fighting trick in the annals of war, finds itself
    in a highly temporary position of existential…what? Simple analogy-
    if your house is burning down do you give a fuck what the rats are
    doing? You want to be bad assed, go after Monsanto.

  26. incogman says:

    Thornberry:

    the exception of my people, as man-boy love is virtually experiencing the wonders of heaven in itself.

    You’re outta here, Schmo, with another comment like this.

  27. RaiulBaztepo says:

    Hello!
    Very Interesting post! Thank you for such interesting resource!
    PS: Sorry for my bad english, I’v just started to learn this language 😉
    See you!
    Your, Raiul Baztepo

  28. Marshall says:

    Looks like Schmo Pesach Thornstein has stumbled onto the wrong site Incog!!! Maybe he would be happier hanging around with his fellow tribesman:

    Ginsberg also spoke out in defense of the freedom of expression of the North American Man/Boy Love Association (NAMBLA).[23] In “Thoughts on NAMBLA”, a 1994 essay published in the collection Deliberate Prose, Ginsberg stated, “I joined NAMBLA in defense of free speech.” In the essay, he referred to NAMBLA “as a forum for reform of those laws on youthful sexuality which members deem oppressive, a discussion society not a sex club.” Ginsberg expressed the opinion that the appreciation of youthful bodies and “the human form divine” has been a common theme throughout the history of culture, “from Rome’s Vatican to Florence’s Uffizi galleries to New York’s Metropolitan Museum of Art”, and that laws regarding the issue needed to be more openly discussed. In an interview for the Harvard Gay and Lesbian Review he said:

    “Everybody likes little kids. All you’ve got to do is walk through the Vatican and see all the little statues of little prepubescents, pubescents and postpubescents. Naked kids have been a staple of delight for centuries, for both parents and onlookers.”
    —Intermountain Jewish News[23]

  29. Marshall says:

    Traficant LIVE on Alex Jones now…1PM EST USA

    http://www.gcnlive.com

    😀

  30. Octo says:

    Where’s your 401K? Disappeared? Or in someone else’s hands?

    http://home.att.net/~whitesox/1880Minnesota_swede_scam.htm

  31. Octo says:

    Geben Sie uns Ihr Gelt und wir werden Ihnen etwas nettes, wertloses Papier geben.

    http://www.guardian.co.uk/business/feedarticle/8987750

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