Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Economic Collapse in September?
321 Gold.com ^ | May 19th, 2008

Posted on 09/19/2008 3:59:48 PM PDT by Perdogg

A rumor is swirling around the Internet that an inglorious end to the U.S. economy is imminent. Unlike previous rumors to this effect, this one carries the weight of recent events in the financial realm and has many believing the rumor will come to pass.

Let's examine some of the claims being made: On March 18, 2008, a "closed door" session of Congress was held for only the fourth time in history. According to House Rule XVII, clause 9, it is forbidden for members of the U.S. House of Representatives to reveal the discussions held behind those doors. The penalty for leaking such information includes loss of seniority, fines, reprimand, censure or expulsion. According to news sources, one purpose of the meetings was to discuss new surveillance techniques to be used by U.S. Homeland Security. Rumors continue to swirl as to what the other topics of discussion took place in that meeting.

(Excerpt) Read more at 321gold.com ...


TOPICS: Business/Economy; Chit/Chat; Weird Stuff
KEYWORDS: 911truthers; adifferentspecie; bahog; congress; conspiracy; goldbug; goldbugs; govwatch; tinfoil
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-68 next last

1 posted on 09/19/2008 3:59:48 PM PDT by Perdogg
[ Post Reply | Private Reply | View Replies]

To: Perdogg

Hogwash.


2 posted on 09/19/2008 4:01:57 PM PDT by #1CTYankee (That's right, I have no proof. So what of it??)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

What did you do today?

I got up and went to work.

So did virtually everyone else.

We have an economy of productivity.

We’re all working.

Some assets just lost their value.

Get over it.

We’ll be product, the paychecks will come, and we’ll spend them.

Some speculators lost lots of money. We taxpayers will unfortunately bail them out.

Big hit. We’ll keep on going.

Chill, have a beer, and go to work on Monday.


3 posted on 09/19/2008 4:02:15 PM PDT by Uncle Miltie (Palin for President! (Who was that old fogey she was with?))
[ Post Reply | Private Reply | To 1 | View Replies]

To: #1CTYankee; Quix

It’s ironic though.


4 posted on 09/19/2008 4:02:25 PM PDT by Perdogg (Sen Robert Byrd - Ex community organizer)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Perdogg

I’m going to guess that the only way to position oneself during this collapse is to buy gold, silver, and other metals.

Just guessing based on the source of the article’s site.


5 posted on 09/19/2008 4:02:39 PM PDT by perez24 (Dirty deeds, done dirt cheap.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

While I don’t believe the economy will collapse in September, I do think there will be fewer charges of ‘chicken little’ for those who do this time.


6 posted on 09/19/2008 4:02:39 PM PDT by skeeter
[ Post Reply | Private Reply | To 1 | View Replies]

To: Uncle Miltie

I thought this was funny when I read it this summer.


7 posted on 09/19/2008 4:02:57 PM PDT by Perdogg (Sen Robert Byrd - Ex community organizer)
[ Post Reply | Private Reply | To 3 | View Replies]

To: skeeter

Look at the date of the article.


8 posted on 09/19/2008 4:03:37 PM PDT by Perdogg (Sen Robert Byrd - Ex community organizer)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Perdogg

I do kind of like the ‘citizens moving against their elected officials’ piece of that scenario. Sign me up for that, I have a few in mind.


9 posted on 09/19/2008 4:04:51 PM PDT by raptor29
[ Post Reply | Private Reply | To 7 | View Replies]

To: Perdogg

Well, the author’s thesis has already been partially vindicated.


10 posted on 09/19/2008 4:05:15 PM PDT by skeeter
[ Post Reply | Private Reply | To 8 | View Replies]

To: Perdogg
"It’s ironic though."

It may be ironic but how much validity does a website named 321gold.com have?

11 posted on 09/19/2008 4:09:39 PM PDT by #1CTYankee (That's right, I have no proof. So what of it??)
[ Post Reply | Private Reply | To 4 | View Replies]

To: skeeter

The credit markets HAVE collapsed, no question about that. Unfortunately, some politicians and unelected Federal Reserve officials are intent on getting back to “business as usual” as soon as possible, with nearly all of the same people, companies (merged or acquired or bought out by taxpayers) and policies in place. These panicy treasury and fed moves you see are 95% to ensure the status quo remains and the money flow is unchanged.


12 posted on 09/19/2008 4:14:11 PM PDT by steve86 (Acerbic by nature, not nurtureĀ™)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Perdogg

The credit markets could possibly collapse 9much, much less likely after today’s action), and that would send us into a deep recession, but we’re not going to starve and die and live like Road Warrior. The single biggest danger (to invoke FDR) is giving in to panic and fear - and tripe like this seeks to foster such fear.


13 posted on 09/19/2008 4:16:00 PM PDT by PC99
[ Post Reply | Private Reply | To 1 | View Replies]

To: Perdogg

Gold bugs declare that the modern economy is over every 15 minutes.

Eventually, one of them will get it a little right.


14 posted on 09/19/2008 4:28:53 PM PDT by Uncle Miltie (Palin for President! (Who was that old fogey she was with?))
[ Post Reply | Private Reply | To 7 | View Replies]

To: Uncle Miltie
We are still productive.

But we are hopping mad!

We never, ever would have accepted a gigantic tax increase to give money to poor people to buy houses.

Instead, Congress forced BANKS to lend money to deadbeats . . . who could not pay it back . . . and caused the collapse. . . . and we taxpayers will still end up paying for those houses.

Socialism by accident.
15 posted on 09/19/2008 4:29:45 PM PDT by atomicweeder
[ Post Reply | Private Reply | To 3 | View Replies]

To: Perdogg

Your best investment is to pay off your debt. I don’t care what the market is doing. 10% on every dollar paid off of my Amex, 6% off my car, etc.... etc.


16 posted on 09/19/2008 4:34:32 PM PDT by Porterville (Mac Truck)
[ Post Reply | Private Reply | To 1 | View Replies]

To: steve86
THATS what I am most afraid of. The politicians and bureaucrats will refuse to address the root cause of this mess.
17 posted on 09/19/2008 4:37:33 PM PDT by skeeter
[ Post Reply | Private Reply | To 12 | View Replies]

To: atomicweeder

You know, I rarely see anyone talking (so far) about the fact that Congress pressured banks to make home loans to people who should have never had home loans. I have also wondered if another piece of the puzzle was the fact that they could make the loan and then move it on to Fannie Mae etc? That way, they didn’t CARE if it had a chance in hades of being paid back.
susie


18 posted on 09/19/2008 4:38:36 PM PDT by brytlea (Obama--Keep the change!)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Uncle Miltie
Eventually, one of them will get it a little right.

*snicker*

19 posted on 09/19/2008 4:46:20 PM PDT by Alia
[ Post Reply | Private Reply | To 14 | View Replies]

To: brytlea
You know, I rarely see anyone talking (so far) about the fact that Congress pressured banks to make home loans to people who should have never had home loans. I have also wondered if another piece of the puzzle was the fact that they could make the loan and then move it on to Fannie Mae etc? That way, they didn’t CARE if it had a chance in hades of being paid back. susie

BINGO, hand that woman a kewpie doll!

Congress is guilty as sin for this. John McCain tried to put restraints back on Mortgages and Fannie and Freddie in 2005 and Congress refused to listen to him.

I think the Real Estate Companies and the original banks that gave the loans should have some kind of punishment placed upon them, too.
20 posted on 09/19/2008 4:46:54 PM PDT by HighlyOpinionated (The Number of the Beast:"six hundred threescore six." Barack Hussein Obama can translate:"Lucifer.")
[ Post Reply | Private Reply | To 18 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-68 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson