Dwarfing the 2008 'Economic Crisis'

[Issachar]

Just this last week, three Congressional leaders — Senator Mark Warner, Congressman Allen West, and Senator Joe Manchin publicly warned that we are approaching — I quote — “Financial Armageddon,” … “Fiscal Armageddon” … and a “Fiscal Titanic.”

And on Thursday, no fewer than TEN former members of the White House Council of Economic Advisers — including President Obama’s former top economic adviser Christina Romer — added their voices to those warning of a looming economic catastrophe.

In an editorial published by Politico, the bipartisan group warned that unless the White House and Congress slash the federal deficit, bond investors are likely to turn on the United States, triggering an economic crisis that could — again, I quote — “DWARF 2008.”

Consider that for a moment: In 2008, Wall Street came within a whisker of a financial meltdown. Financial monoliths like Citigroup and Bank of America nearly went bust. And Lehman — one of the giants of Wall Street — simply ceased to exist.

Now, these top economists and Congressmen are saying, in effect, “That was NOTHING. Just wait until you see what happens NEXT!”

source

Issachar

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

I had my husband watch the youtube on another thread that was by the financial person warning us about this approaching crisis. He is always a litlle skeptical so I googled a bunch of the infor the youtube guy gave and found them all to be accurate and now our own people in DC are echoing what he said. I don't know what is the best way to go to prepare for this. Trusting the Lord without saying number 1. But still trying to figure out if we should do anything to preserve what we can. My husband is handicapped so I do have concerns about his care. But certainly this is not bad news for those of us waiting for the Lord to shout "come up here". We are as debt free as we can be and we have helped our children get relatively debt free. Hope that will help for awhile.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

Issachar, I forgot to ask. Do yo find this to be credible? I am always a little wary when at the end they pitch something for you to buy. This particular guy is selling a dvd.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

okay, I forgot to look at the link sorry about that. I will watch that too.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

The link was not working at 6AM.

Did someone pull the plug?

[Issachar]

Re: Dwarfing the 2008 'Economic Crisis'

I just tried the link Ron and it is working for me. Does it make a difference if I'm on the same computer as when I posted the link? Is something stored somewhere that makes it work? Anyone else find it not working?

Jackie, Martin Weiss, imho, is very credible. I've been reading him for years and he makes it easy to confirm what he is saying. I personally don't have an issue with someone selling a dvd at the end of an article. They spend their working life in this business and that is a part of how they provide for themselves, plus, it costs money to produce it. His info is normally very good.

Issachar, believes what Martin is saying here as well as showing what others are saying, lines up very well with much other research I've done ..

p.s. It seems funny saying this as I've never given it a thought before, but "just in case": I do not know him and do not have anything to do with him in anyway .. I just like the info he provides.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

I just tried the link Ron and it is working for me. Does it make a difference if I'm on the same computer as when I posted the link? Is something stored somewhere that makes it work? Anyone else find it not working?

I just tried it again. No luck. I think it must still be in your computer's memory.

When I try it goes to http://www.money... plus a lot of numbers.

It briefly says something like "White House Economist predicts crisis".

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

I found a similar article at http://www.stockmarketsreview.com/news/124673/

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

Just wanted to share that I was able to use Issachar's link just now.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

Link worked for me also. But I must agree that it does sound like a sales pitch for his DVD, regardless of whether or not he is accurate in his dire predictions.

Advice: be as debt free as you can. If you are in the market, short it, especially the S&P500. When QE2 expires, I believe there will be a significant downturn in the second half of the year, especially in commercial and residential real estate. Preserve cash.

WLNF, keeping my focus on my eternal home rather than this one.

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

Alot of my money from work is in my 401 Iwonder how they will fare and should I be putting it somewhere else and would my place of employment allow me to move my money around? My husband too has all of his life savings in a 401. I would hate to see that all wiped out if I could help it.

[Issachar]

Re: Dwarfing the 2008 'Economic Crisis'

I started a 401k in the late eighties. In late '99, I said .. this is bizarre .. the markets. All these dot coms increasing in stock price .. up, up, up .. "It's the new thing; the internet businesses! It can only go up!" I said no. These companies have no profit. I got out. My co-workers said I'll regret it. 5 months later, they regretted it. People actually cried when we got our quarterly statements. I didn't say anything unless asked. I didn't make much, but I didn't lose anything either. Some of them lost as much as half or more.

Imho, the markets today are way, way out of whack. Pay attention to what WLNF said about QE2 expiring.

Issachar

[Guest]

Re: Dwarfing the 2008 'Economic Crisis'

So are all 401k automatically put in stocks? Be they risky or what they consider non risky? I know my mother in law was told by her finance guy to cash out her city bonds and state bonds because of growing concerns about the city and state budgets. Some of the money she has given to us along the way and then to her savings I think. I believe that the Lord will watch over us and I am not worried but wonder if now isn't a good time to invest in the Kingdom with some of the money to help internet sites that preach the gospel trueth and not let it go the way of the free market and chance to lose it all. My husband is not as willing to let us do that. I try to convince him that the time is short and these ministries need this income. Oh well I'll keep trying on that. Thanks for the info.