Those worried about economic collapse?

[Joewy]

Ill point out that the Market correction last week was a global one. Global corrections do not normally happen without some outside influence such as war, oil shock or some other global event. What was the global event that made this correction????

[Yugo]

It is really sad someone would suggest they could have whatever they want or need simply because they have a gun and ammunition; thus implying they can take whatever they want. They could plan for that gun and ammunition but not for being prepared. I have plenty of firearms and more ammunition than I could ever expend; but would never imagine its use for anything but defense, hunting and even practice.

If you you think your preparation ends at securing a gun and ammunition my guess is you won't be a very happy person come SHTF; because you'll probably end up bartering it away for a few days food.

Ooops...looks like the thought I was replying to was deleted.

And for good reasons.

[Ripon83]

Greek

I believe the only "event" last week was the potential for Greece to default on its loans. They were depending on loans being funded to pay off loans of the past and for some reason there was doubt these new loans would occur (yet I thought they were approved long ago). Without them Greece would default on its loans, its creditors would be shorted, and a domino would be in place that would have headed to Italy next (who's issues are the same and bigger in size).

Ill point out that the Market correction last week was a global one. Global corrections do not normally happen without some outside influence such as war, oil shock or some other global event. What was the global event that made this correction????

[echo1]

The rate is not based on the entire population. It's based on the work force. Kids and grannies aren't counted. People who don't want to work aren't counted.

During the "Great Depression" children and grannies worked. No labor laws, no SSI, no welfare. PAX

[Kid Stanislaus]

Check this out. China is really in a tight spot. If they implode the whole world will definitely feel it.

http://alfin2100.blogspot.com/

[thenodnarb]

The train wreck was started not by Bush but by ___________ (google it) when he canceled the Glass Steagall act. Canceling the GS act allowed the banks to become "Casinos" and create the credit swap derivatives which is why we are where we are financially now. It took a few years after the GS act was cancelled to for all the bad things the banks were doing to catch up to us. The catch up part happened to land right as Bush was leaving office.

http://www.investopedia.com/articles/03/071603.asp#axzz1YnGpBg4r

"In 1933, in the wake of the 1929 stock market crash and during a nationwide commercial bank failure and the Great Depression, two members of Congress put their names on what is known today as the Glass-Steagall Act (GSA). This act separated investment and commercial banking activities. At the time, "improper banking activity", or what was considered overzealous commercial bank involvement in stock market investment, was deemed the main culprit of the financial crash. According to that reasoning, commercial banks took on too much risk with depositors' money. Additional and sometimes non-related explanations for the Great Depression evolved over the years, and many questioned whether the GSA hindered the establishment of financial services firms that can equally compete against each other. We will take a look at why the GSA was established and what led to its final repeal in 1999.

Read more: http://www.investopedia.com/articles...#ixzz1YnI4lzQY



Consequently, to the delight of many in the banking industry (not everyone, however, was happy), in November of 1999 (William Jefferson "Bill" Clinton (born William Jefferson Blythe III) is an American politician who served as the 42nd President of the United States from 1993 to 2001. ) Congress repealed the GSA with the establishment of the Gramm-Leach-Bliley Act, which eliminated the GSA restrictions against affiliations between commercial and investment banks. Furthermore, the Gramm-Leach-Bliley Act allows banking institutions to provide a broader range of services, including underwriting and other dealing activities. "

Read more: http://www.investopedia.com/articles...#ixzz1YnH3rJ4a

This hit the nail on the head. Congress, primarily democrats, along with the banks, are the real reason for the collapse. those of us who saw the insanity of the types of loans being made before the collapse knew this was coming. A friend of mine predicted this was coming around 2005. The severity of the consequences exceeded even his prediction though.

[Californio]

Along those GS lines this is a good Video, can't believe PBS did it.

http://www.youtube.com/watch?v=ACkiKVtF3nU

Can you say Derivative.