Renowned Economic Forecaster Says US Headed For Total Collapse

American Sentinel ^ | November 24, 2008 | Michael Eden

[JDoutrider]

...Marker...

[Tired of Taxes]

We might disagree with that lawsuit and the CRA itself, but that doesn’t mean the CRA led to the subprime mortgage crisis. Listen, I always check the other side of a debate. Usually, the Dems do not make a valid argument.

But, in the case of the CRA, they do bring forth a valid point: the CRA doesn’t regulate most of those mortgage companies that sold subprime mortgages. And they’re correct on that point: http://www.federalreserve.gov/dcca/cra/
It regulates only depository institutions, and it requires the borrowers to be creditworthy.

Here’s more about it:
http://www.ocregister.com/articles/loans-subprime-banks-2228728-law-lenders

What really gets my beef are the home ownership subsidy programs. (The gov’t subsidizes mortgages for some low-income families.) The CRA is overreaching, but I’d rather have the CRA than the subsidy programs. JMHO. Better yet, let’s throw them all out.

Btw, my husband and I bought our home with an ARM. An ARM can be a useful tool. Once the rates dropped, we locked into a fixed-rate mortgage under a lower rate. The key is, we didn’t overpay for our home. Later, too many people overpaid for their overvalued homes and then borrowed even more against those inflated values.

[NCBraveheart]

This comes from Prison Planet? The Alex Jones new world order, poison contrail, Bilderberg site? Oh, that’s credible.

[MaineConservative]

Sorry, but unless Obama is America’s Robert Mugabe, it won’t happen.

[Beagle8U]

Reading your check list, it sounds like you are living in my basement. I better go check...

[Lancey Howard]

Watch out! If I’m down there, I may have my pajamas on.

[Joann37]

My apologies, Michael.

[My Favorite Headache]

Gerald Celente is not a kook...far from it.

[CottonBall]

Sounds like a plan. although if it really gets really bad, I don’t know what good the cash is going to do. Cash could be worthless by then.

True. We'd be on the barter system and it'd be better to have something to trade. The cash is for the near future, in case the banks cannot get people their money in case there's a run on the banks. I do need to think about what to trade though. Any ideas?

I'm hoping all will be well, but don't see the harm in being prepared. Can always use more guns and ammo, can always use up the stored flour and such later, and can redeposit the cash. It's not like the 1.5% I'll be losing in interest is a big loss!

[Beagle8U]

Naaa, if you were down there in your PJs you would have the wood furnace going. I keep it rather cool downstairs by closing the central system vents.

But what you described sounds pretty much like my property.

If you really were here I would have you either out back deer hunting ( the season is in here) or out in the barn skinning the ones hanging in there.

[montag813]

HOLD ON TO YOUR MONEY! Go to the ATM right now and make sure you have at least $5000 in cash at the ready, and enough guns and ammo to defend it. Prepare “in case” plans for your family.

[CottonBall]

No, I think that’s a market correction, actually. It was way overvalued. The charts of late are all logarithmic, just to make it look linear. The ‘growth’ in the last 2 decades doesn’t seem to be based on companies’ growth and the PE ratios have been quite high. All just my opinion and you could be right.

I would htink a total panic would include a run on banks. Don’t know if that’s happening yet or not, but I haven’t heard anything.

[CottonBall]

hmmmm, thanks for the link. All the more reason to stock up!

[CottonBall]

Ok, I didn’t realize it was a future prediction. Scary stuff!

[Matchett-PI]

“Gerald Celente is not a kook...far from it.”

I wasn’t referring to him. I was referring to the fundie employing “trailer park scholarship” while reading the Bible with one hand and the newspaper with the other.
http://www.tektonics.org/af/calcon.html

*
Dos and don’ts of Bible Study http://www.tektonics.org/uz/useguide.html

*

More: http://www.tektonics.org/esch/eschatology.html

[RightWhale]

I’ve never heard of him before

He's on Coast a lot. Not the scariest, not by a long shot.

[My Favorite Headache]

Gotcha..stand corrected.

[Ditto]

Reads like a Hal Lindsey novel.

Or maybe Jean Dixon.

Frankly, I never heard of the guy before, but then again, I never listen to Art Bell either.

[RobRoy]

>>The “system” is being screwed by the idiots but the country remains a nation of individuals. Not a nation of the ruled.<<

I used to think that. Until “they” elected Obama.

I don’t any more. You and I were both living in the past.

Seriously.

[RobRoy]

This one will not take years.

Revelation 18:8
Therefore in one day her plagues will overtake her:
death, mourning and famine.
She will be consumed by fire,
for mighty is the Lord God who judges her.