Start A Petition

There Will Be Consequences --The Inevitable Collapse of the Dollar


Business  (tags: debt, collapse, society, finance, cover-up, government )

Janet
- 3916 days ago - brasschecktv.com
What goes up will come down "The path that we're on right now is not sustainable." "The portfolio adjustments will be swift and severe." There's going to be a major realignment of global living standard." Nobody in the US wants to talk about it



   

We hate spam. We do not sell or share the email addresses you provide.

Comments

Janet Solomon (231)
Wednesday October 1, 2008, 9:54 pm
Nobody in the US wants to talk about it, but it's pretty easy to see when you're viewing things from outside of the fishbowl. Ten years from now, it's going to be aradically different world, and the changesare starting right now.
 

Blue Bunting (855)
Thursday October 2, 2008, 4:49 am
The crisis explained

By one RDF:

Joe goes to the track and bets $2 on a horse.

Two guys standing nearby get into a discussion and Fred says to Sam, “I’ll bet you $5 that Joe wins his bet.”

Next to them are Bill and Bob. Bill says: “I’ll bet you $10 that Fred welshes on his bet if he loses.”

Next to them is Sally. Sally says: “For $3 I’ll guarantee to Bill that if Bob fails to pay off, I’ll make good on the bet.”

Sally then goes to Mary and borrows the $7 needed in case she has to ever pay off and promises to pay back $8. She doesn’t expect to every have to pay since she believes Bob will always make good. So she expects to net $2 no matter what happens to Joe.

A quick calculation indicates that there is now 2+5+10+3+7 = $27 riding on the outcome of the horse race.

Question how much has been “invested” in the horse race?

Wait for it:

Answer:

$50,000 by the owner of the horse who is expecting to recoup his investment from the winnings of the horse and other future deals. Everyone else is gambling, not investing.

So, when Hank Paulson and his golfing buddies go to the track and lose the rent money playing the ponies, we should pay up?

http://www.correntewire.com/the_crisis_explained

That's perfect

and it’s not even an analogy - it’s exactly how derivitives and credit default swaps work, including none of the gamblers having any financial relationship to the underlying asset (the horse, or mortgages) in a lot of cases.




 

Blue Bunting (855)
Thursday October 2, 2008, 4:49 am
Politics in the Zeros: Spread the meme. Republicans are the party that wrecked America. John McCain’s long history with bank failures and financial scandals makes him uniquely ‘qualified’ to speak to the current crisis.

The next time a Republican friend says McCain is ready to Regulate the financial world... Refer them to ProgressiveAccounting.org
for a really long list of all the DEREGULATION McCain has supported over the past 26 years to get us into this mess.

Then suggest a vote for Obama.
 

Past Member (0)
Thursday October 2, 2008, 2:25 pm

EXCELLENT VIDEO! Americans need to watch this because

it is not a matter of IF it will happen (economic colapse)

it is just a matter of WHEN!

I see most Americans in a state of denial. Those who
grew up in the culture of "I want it now!",
and "I'll just charge it" are going to have to make a major adjustment
in their thinking. Either they start making that adjustment now,
or they will HAVE to make it later whether they want to or not.

If those who are in denial (or in a state of gross ignorance) come
to realize just how serious it is, then they will realize
it's time NOW to

> Stop spending - Start SAVING

> Stop consuming >> Start producing

You must realize this transition is going to be painful. Women can relate to it as kind of like childbirth. But, you have to bite the bullet and do it. Going through some very tough and painful times are ahead for us. No getting around it or painting a pretty picture.

I'm hoping that as hard as it is going to be for those who have never experienced a situation like this, that they will start making that transition from:
spending to saving.
And realizing it's not going to be easy -- but we can do it. We have to do it.

Mr. Obama, Mr. McCain, and the GOVERNMENT can't save us. In fact
our government is choosing a strategy (bailouts and continued reckless spending) that will just prop things up for a little while
and then eventually they will crash. Sorry, but that is what many of our elected representatives are doing.

I think that MOST of the politicians aren't so stupid that they
don't understand what is going down with the economy. Afterall, Rep. Ron Paul has been warning them for years. I wonder if they just want to postpone things for now and try to appease Americans, etc. -- just long enough for them to make their escape. They want to hold on to their jobs for as long as they can. So, I see it as just playing a game with the citizens.

You know WHO is going to be the real loser in this charade. While most of the politicans are playing this game with us, they want to keep us under the illusion that things are going to be ok. Believe me, you are dreaming if you believe things are going to be ok anytime soon.

The sooner we start dealing with the reality of the situation, the better off we will be. Each of us need to start now with a good strategy of our own to combat what is coming our way.

We can't just sit down and give up.

We can't expect Obama, McCain or the government to rescue us -- they couldn't even if they wanted to. THE MONEY ISN'T THERE. Our country is in so much debt - and yet they continue to print money "out of thin air" which just devalues the dollar. As the dollar loses its value, we will lose our current standard of living. I'm just trying to prepare you for this. It is time to adjust your mindset to the fact that we will have a lower standard of living. Now, that's not exactly the end of the world, although it will feel like it to those who haven't been through The Depression of the '30s.

I'm hoping that we will wake up (SOON!) and "step up to the plate" and do what we need to do. For those who "have been there" (folks from The Depression of the 30's, and folks from poverty stricken countries and people from war-torn countries) - they know it is going to take sacrifice, hard work and just dealight with it. We can be strong like they had to be. We have to. For ourselves and for our children.

Remember that complaining and blaming are not going to get us anywhere. First, we need to come out of denial, and as far as the politicians, do your homework about them and VOTE OUT those politicans who have been part of the problem and can't be trusted to be part of the solution.

I probably sound a bit radical to some of you. Perhaps my perspective comes from knowing folks who have personally gone through the Great Depression and those who have had to survive in poverty-stricken countries, and those who have had to survive in war-torn countries. I think Americans can survive also. Like I said, we have to - and we can because our future and the futures of our children grandchildren's are at stake.


 
Or, log in with your
Facebook account:
Please add your comment: (plain text only please. Allowable HTML: <a>)


Track Comments: Notify me with a personal message when other people comment on this story


Loading Noted By...Please Wait

 


butterfly credits on the news network

  • credits for vetting a newly submitted story
  • credits for vetting any other story
  • credits for leaving a comment
learn more

Most Active Today in Business





 
Content and comments expressed here are the opinions of Care2 users and not necessarily that of Care2.com or its affiliates.

New to Care2? Start Here.