I have been reading articles from financial professionals about how our economy here in America is going to collapse this year, so bad that some are saying that we will be like a third world country by the end of this year. The television news and financial programs aren't reporting on it, and the politicians aren't telling the public about it. And a lot of them aren't aware of it themselves. But what I have been reading from MANY different economic experts is that major banking institutions are going to collapse, and some already have or are starting to. And the government doesn't have the money to bail them out. They are also saying that the stock market is going to crash, and when it does, peoples' 401k investments are going to go with it. They are saying that the worst place to have your money right now is in the banks and in 401k accounts. They are saying that oil WILL go up to almost $200 a barrel, and that by the time we elect a new president that the Dow Jones will be at 5000!! So far this year 3 major banks have crashed.....Countrywide, Morgan Stanley, and CitiGroup, and it will be like a domino effect. And some are even thinking that the Arabs will try to buy out these collapsing American banks.
This is not going to be a good year here in America. I believe the rapture almost HAS to happen this year. Bush has pushed Israel to give part of Jerusalem to the Palestinians...and actually Israel has already told the Palestinians that they can have part of it in exchange for peace. And the Bible clearly says that when Israel and the nations start using Jerusalem as a bargaining chip, then God's patience will come to an end. Its that time!! Its happening!! God is through with America, and He is about to take His bride out and let all hell break loose down here.
These economists are warning us to get our money out of 401ks and bank accounts. They say the best thing to do is buy gold and invest in oil becaue the value of gold and oil is going to shoot up rapidly. They are saying that the Federal Gov't is bankrupt itself and their insurance on peoples' money in banks is worthless.
Below are some headlines and short exerpts from articles I have read recently form these economists and financial experts.U.S. Financial Crisis Worsening!
Consumer Loans Are Also
Going Sour Left and Right!Get Ready for Even MORE
Financial Sector Weakness!
Forecast: U.S. dollar could plunge 90 pct
RHINEBECK, N.Y., Nov. 19 (UPI) -- A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.
"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008."
"The bigger they are, the harder they'll fall," he said in an interview with New York's Hudson Valley Business Journal.
Celente -- who forecast the subprime mortgage financial crisis and the dollar's decline a year ago and gold's current rise in May -- told the newspaper the subprime mortgage meltdown was just the first "small, high-risk segment of the market" to collapse.
Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said.
Massive corporate losses, such as those recently posted by Citigroup Inc. and General Motors Corp., will also be fairly common "for some time to come," he said.
He said he would not "be surprised if giants tumble to their deaths," Celente said.
The Panic of 2008 will lead to a lower U.S. standard of living, he said.
A result will be a drop in holiday spending a year from now, followed by a permanent end of the "retail holiday frenzy" that has driven the U.S. economy since the 1940s, he said.
The US is bankrupt according to our top accountant.
According to David Walker, Comptroller General of the United States, we are technically bankrupt and facing a financial "tsunami." This is scary stuff folks.
Waves of banks will be failing in Europe and the US. Waves of 'em.
IF YOU HAVE MORE THAN THE FDIC LIMIT IN ANY US BANK - GET IT OUT TODAY AND GET IT OUT NOW - YOU HAVE BEEN WARNED. IF YOU HAVE DEPOSITS ANYWHERE ELSE, OPERATE UNDER THE ASSUMPTION THAT YOUR BANK WILL FAIL. GET YOUR MONEY INTO SAFE ASSETS NOW - AND NO, MONEY MARKET FUNDS ARE NOT SAFE.
Wild Card? -Collapse of the US banking system in 2008?
Dr. David Martin is the founding CEO of M·CAM Inc. an international leader in intellectual property-based financial risk management.
"Dr. Martin describes why he predicts a very likely total collapse of the US Banking system in 2008. Even more surprising is that he explains how the only hope for bailing out the US economy at that time may in fact be Muslim financial institutions -- the financial entities of the Muslim world -- because they are the most cash rich entities on the planet, and unlike our banks they are not exposed to intangible asset risks."
"In other words, as Dr. Martin explains, if for no other reason than this, we should think twice before bombing Iran and the rest of the Middle East back to the Stone Age -- they may in fact be our economy's only hope and we may soon be in dire need of their help. This is a radical hypothesis, but based on very realistic data and in particular, new laws (Basel II ) that are going into effect in the global banking world in January, 2008."
- Laurence Kotlikoff, economics chairman at Boston University
"Maybe the public doesn't want to hear it. Maybe politicians think ... the American public can't understand the truth or hear the truth or bear the truth. I think this is garbage. I think that people care about their kids and grandchildren and need to know the dangers facing them -- and us."
Martin Hutchinson Washington, DC, Sep. 6 (UPI)
"Either way, the Dow Jones Industrial Index on election day 2008 will be below 5000.
This is the true choice facing the electorate: between 8 percent unemployment, a triple dip recession, and resurgent inflation, or 10 percent unemployment and a damaged world economy. Either way, government will grow and your income won't. Of course, nobody is going to tell the voters that....
Economic Collapse Imminent Michael C. Ruppert
"It's not a question about the government stealing a little here and a little there. It's a question about open, full-scale looting - but only from the pockets of the American people who, in my opinion, will soon have almost nothing left."
"The situation now is much, much worse as more factors combine to suggest that foreign investors and trust in the U.S. economy might soon be a thing of the past. Your pension is at risk today and your home may be at risk in six months to a year. Unless you can convince me that gravity might suddenly reverse direction, this collapse is inevitable and imminent. It will be unspeakably brutal. How long do we have? Maybe weeks. Maybe months. Maybe only days. But the house of cards is already starting to collapse all around us."