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God spoke through a word of prophecy in May 1968, and said, ‘I have chosen you to usher in the coming of My Son.’
-- Pat Roberston, Sermon on Satellite Network Seminar
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The Great Depression of the 2010s
Posted on Friday, May 16 @ 07:13:50 PDT by Virgil |
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chrisliv submitted: "Depressions are monetary phenomena caused by central bank issuance of excessive credit. In 1913, the newly created US central bank, the Federal Reserve, began issuing credit-based money in the US. Within ten years, the central bank flow of credit ignited the 1920s US stock market bubble; and shortly thereafter, following the collapse of the bubble in 1929, the world entered its first Great Depression in 1933.
Investment banks are the undoing of central banking. While all banks, central, commercial and investment, view credit as the opportunity to exploit society's growth and productivity, investment bank exploitation of growth and productivity exposes society to extreme risks - for investment banks use society's savings to make their volatile and speculative bets.
The speculative risks undertaken by investment banks is done by leveraging the savings of society; and, when investment bank bets are sufficiently large enough and the bets go bad - as they inevitably do as the luck of investment bankers is due more to their proximity to credit than to their ability to foresee the future - it is society that will bear the brunt of the pain in the loss of its savings.
Inevitably, investment bankers cannot resist the temptations of excessive credit and, like the buyers of teaser-rate home mortgages, they will always overreach themselves - an overreaching that will have disastrous consequences for the society whose savings they bet.
The leveraged overreaching by investment banks in the 1920s caused the Great Depression of the 1930s and their more recent overreaching in this decade, the 2000s, is about to cause another Great Depression in the next, the 2010s.
It is the proximity of investment banks to the pools of savings that allows investment banks to profit. By their access to society's savings, investment banks use society's wealth as the foundation of their highly leveraged bets in financial markets; and in so doing, they have now placed all of us in harms way.
Click here to read the entire article"
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Re: The Great Depression of the 2010s (Score: 1)
 by OSTRALOA on Friday, May 16 @ 14:48:14 PDT
(User Info | Send a Message) | Chris,
Good link Chris. Congressman Charles Lindbergh Sr. warned about this to the American people almost 100 years ago. Finally, a candidate of courage Ron Paul is speaking out about the same thing. Get his "The Revolution" now the NT Times best seller and read about it. Then get out and vote in November for RON PAUL in 08"!!
In Christ,
Paul Anderson |
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Re: The Great Depression of the 2010s (Score: 1)
by EWMI on Friday, May 16 @ 17:55:07 PDT
(User Info | Send a Message) | This is the dominant overriding issue of the day. Two percent inflation over 100 years will reduce a nation's wealth to nothing. America is not alone in this massive tragedy. For the first time ever the entire world is suffering in parallel.
The crash will be mighty. Our leaders have engineered it. They did not just know it was coming they planned it fully. Their aim is to reduce our savings, and fully collectivize us.
We must understand that for nearly 100 years prior to the rise of the money trust inflation in the US was pretty much zero. The dollar kept its value.
When the money trust that morphed into the Fed came on the scene the suffering began.
I have said it many times I will say it again:
We will have economic collapse
We will have food shortage
We will have war
The current war began on September 11 2001, the same lies we heard about Afghanistan and Iraq we are now hearing about Iran. The West was once loved and admired by the east. Today we are loathed.
The next round of shooting will begin any day now. |
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- by DavidF on Thursday, May 22 @ 09:01:40 PDT
- by JL on Thursday, May 22 @ 09:49:11 PDT
- by EWMI on Thursday, May 22 @ 14:35:23 PDT
Re: The Great Depression of the 2010s (Score: 1)
by OSTRALOA on Friday, May 16 @ 18:56:10 PDT
(User Info | Send a Message) | Chris,
That is exactly what I would expect from neo-con Skull & Bonesmen, death & destruction and futurism unfortunately hasn't helped any either. Blessings.
In Christ,
Paul Anderson |
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- by chrisliv on Friday, May 16 @ 22:40:52 PDT
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- by Dana_Nathan_Salsbury on Saturday, May 17 @ 07:28:10 PDT
- by Ed on Saturday, May 17 @ 07:49:58 PDT
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- by Ed on Saturday, May 17 @ 12:50:54 PDT
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- by Dana_Nathan_Salsbury on Sunday, May 18 @ 07:03:51 PDT
- by chrisliv on Sunday, May 18 @ 09:46:09 PDT
- by Dana_Nathan_Salsbury on Sunday, May 18 @ 12:58:45 PDT
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- by tom-g on Tuesday, May 20 @ 10:13:13 PDT
Re: The Great Depression of the 2010s (Score: 1)
 by chrisliv on Friday, May 16 @ 22:43:03 PDT
(User Info | Send a Message) | Paul,
What are talking about?
Are you referring to Al's post above?
Al is a little "conspiracy theory", maybe a little right-wing Ozzie, but not the neocon Bonesmen/Bushite type, I'm pretty sure.
Of course, most everybody here knows that I'm a non-statist, Christian anarchist.
Peace to you all,
C. Livingstone |
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- by Ed on Saturday, May 17 @ 05:42:43 PDT
- by OSTRALOA on Saturday, May 17 @ 06:15:54 PDT
Re: The Great Depression of the 2010s (Score: 1)
by chrisliv on Saturday, May 17 @ 11:33:14 PDT
(User Info | Send a Message) | Boy,
Here's another good article (see below) from the same site, on Money Inflation, that parallels the one above.
Peace to you all,
C. Livingstone
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http://www.321gold.com/editorials/hamilton/hamilton051608.html
...You read that right. There were 16.7% more US dollars available for spending this March than last! This is incredible, especially during challenging times when the US economy was barely chugging along around 2.2% growth for all of 2007. Sooner or later all this excess money will eventually bid up prices. Some of this inflation will be perceived as good, primarily the part that flows into stocks. But the part bidding up scarce food and energy is not going to make Americans very happy.
Now these growth rates defy the imagination. At 12% growth compounded annually, it only takes 6 years for something to double. At 16%, this drops to well under 5 years. If the Fed doesn't stop this madness, there could be twice as many dollars floating around in 5 or 6 years as there are today. Even with modest economic growth, this means general price levels would probably almost double. And this inflation is totally above and beyond all the supply-and-demand-driven global commodities bulls' increases!
Bernanke's Fed has been ramping money-supply growth so fast that actual MZM is starting to look parabolic even on a short-term chart. In just over 2 years under him, MZM has ballooned 25.1% unchecked! And since the Fed almost never shrinks money supplies, all the inflation evidenced in this parabola is already in the pipeline. Eventually this excess money will filter into and really drive up general price levels...
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- by chrisliv on Sunday, May 18 @ 22:29:53 PDT
- by Virgil on Monday, May 19 @ 05:40:50 PDT
Re: The Great Depression of the 2010s (Score: 1)
by rfwitt (hifive@att.net) on Sunday, May 18 @ 09:03:38 PDT
(User Info | Send a Message) | “Isa 1:2 Hear, O heavens, and give ear, O earth; for the LORD has spoken: "Children have I reared and brought up, but they have rebelled against me.
Isa 1:3 The ox knows its owner, and the donkey its master's crib, but Israel does not know, my people do not understand."
Isa 1:4 Ah, sinful nation, a people laden with iniquity, offspring of evildoers, children who deal corruptly! They have forsaken the LORD, they have despised the Holy One of Israel, they are utterly estranged.”
If you want to know the future of America you need only read the O.T. Prophets. The majority of the people “are sowing to the flesh” and we (even the Remnant) will reap destruction. “Wisdom” has fled this nation and fools have taken over.
This same majority is putting their hope in Princes. One need only look at the crowds at political rallies yelling - “save us“.
Richard….
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- by Islamaphobe on Sunday, May 18 @ 09:31:31 PDT
Re: The Great Depression of the 2010s (Score: 1)
by DavidF on Thursday, May 22 @ 08:22:28 PDT
(User Info | Send a Message) | Thanks for sharing that good article Chris. I’m glad to see that you stay on top of these things and the rest of us can benefit from your searches.
I’m curious about your statement “most everybody here knows that I'm a non-statist, Christian anarchist”.
How do you view the word “kingdom” as in “kingdom of Christ and of God” Eph. 5? Do you think First Century Christians thought of the word as a religion, as civil/political, or some other way? Do you think it should mean the same thing for Christians today? |
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- by chrisliv on Thursday, May 22 @ 11:23:08 PDT
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Re: One Bubble Pops And Another Fills Up? (Score: 1)
by chrisliv on Saturday, May 24 @ 08:41:47 PDT
(User Info | Send a Message) | And,
Here's another good, lengthy article, from Asia Times Online, on Oil prices. I'll post a few clip below.
Peace to you all,
C. Livingstone
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http://www.atimes.com/atimes/Global_Economy/JE24Dj02.html
Oil price mocks fuel realities
By F William Engdahl
As business and consumers consider the implications for them of crude oil selling at US$130-plus per barrel, they should bear in mind that, at a conservative calculation, at least 60% of that price comes from unregulated futures speculation by hedge funds, banks and financial groups using the London ICE Futures and New York Nymex futures exchanges and uncontrolled inter-bank or over-the-counter trading to avoid scrutiny (see Speculators knock OPEC off oil-price perch, Asia Times Online, May 6, 2008).
US margin rules of the government's Commodity Futures Trading Commission allow speculators to buy a crude oil futures contract on the Nymex by paying only 6% of the value of the contract. At the present price of around $130 per barrel, that means a futures trader only has to put up about $8 for every barrel. He borrows the other $120.
This extreme "leverage" of 16 to one helps drive prices to wildly unrealistic levels and offset bank losses in subprime and other disasters at the expense of the overall population...
...One of the stories used to support the oil futures speculators is the allegation that China's demand for imported oil is exploding out of control, driving shortages in the supply-demand equilibrium. Yet the facts do not support the China demand thesis.
The US government's Energy Information Administration (EIA) concluded in its most recent monthly Short Term Energy Outlook report that US oil demand is expected to decline by 190,000 barrels per day (b/d) this year. That is mainly owing to the deepening economic recession.
Chinese consumption, the EIA says, far from exploding, is expected to increase this year by only 400,000 barrels a day. That is hardly the "surging oil demand" blamed on China in the media. Last year, China imported 3.2 million barrels per day, and its estimated usage was around 7 million b/d total. The US, by contrast, consumes around 20.7 million b/d.
That means the key oil-consuming nation, the US, is experiencing a significant drop in demand. China, which consumes only a third of the oil the US does, will see a minor rise in import demand compared with the total daily world oil output of some 84 million barrels, less than half of one percent of total demand.
OPEC has its 2008 global oil demand growth forecast unchanged at 1.2 million barrels per day (mm bpd), as slowing economic growth in the industrialized world is offset by slightly growing consumption in developing nations. OPEC predicts that global oil demand in 2008 will average 87 million bpd, largely unchanged from its previous estimate. Demand from China, the Middle East, India and Latin America is forecast to be stronger, but the European Union and North American demand will be lower.
So the world's largest oil consumer faces a sharp decline in consumption, a decline that will worsen as the housing and related economic effects of the US securitization crisis in finance de-leverages. The price in normal open or transparent markets should presumably be falling not rising. No supply crisis justifies the way the world's oil is being priced today.
Big new oil fields coming online
Not only is there no supply crisis to justify such a price bubble. There are several giant new oil fields due to begin production over the course of 2008 to further add to supply...
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