Complete Collaspe of US Financial Market Soon?

[LA Woman]

Is the Sky Falling Yet?

QUOTE:
Fortis expects a complete collapse of the US financial markets within a few days to weeks.


The situation in the US is much worse than we thought", says Fortis chairman Maurice Lippens.

Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US"


(Fortis is a large bank and insurer in the Netherlands and Belgium. It took over ABN Amro last year, together with RBS and another bank. Last Thursday (july), its share lost 17% because Fortis attracted foreign capital.)

Remember this post I made? So, is the sky falling yet? Or is our economy still fundamently sound?

 

[PLCG]

Mr McCain revised that to say that the American worker is fundamentally sound.

 

[Tom Woolford]

Remember this post I made? So, is the sky falling yet? Or is our economy still fundamently sound?

Lets just say that I know have a lot of beans and ammo...........:Eyecrazy:

 

[Lloyd Bonafide]

Sen. Reid Says `No One Knows What to Do'

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=amvDrVe.VghE

Sept. 17 (Bloomberg) -- The U.S. Congress is unlikely to pass new legislation to overhaul financial regulations this year because ``no one knows what to do,'' Senate Majority Leader Harry Reid said today.

``We are in new territory, this is a different game,'' Reid said at a briefing in Washington. Neither Federal Reserve Chairman Ben Bernanke nor Treasury Secretary Henry Paulson ``know what to do but they are trying to come up with ideas,'' Reid said.

This kind of thinking should inspire lots of confidence. Great job, Harry!

On second thought, the less they do, the better off the country will be in the long run.

 

[Couch Potato]

Admitting ignorance is the first step to knowledge.

 

[Hamlet]

Admitting ignorance is the first step to knowledge.

Second step is seeking help.

Our government needs an INTERVENTION!:Eyecrazy:

 

[Terrel L. Shields]

Senate Majority Leader Harry ...[said]``We are in new territory, this is a different game,'' ... Neither Federal Reserve Chairman Ben Bernanke nor Treasury Secretary Henry Paulson ``know what to do.

The treasury secretary, former head of Goldman Sachs
The Fed chairman, supposedly smart Phd...
Harry Reid...confirmed idiot and whiner

No one knows what to do. brilliant, just brilliant. Perhaps we should bring back Volker and a few old heads who seems to "know what to do" in 1987 and 1981 and 1998 and....

This government has totally failed. Regulating appraisers didn't work. Unregulating banks didn't work...duh....

 

[The Warrior Monk]

Admitting ignorance is the first step to knowledge.

Dao De Jing #71?

 

[Mystery man3]

Inflation?

I don't think there will be much inflation.

Oil prices are falling.
Wages are falling.
The world economy is slowing down and the US probably is in recession.

To me inflation seems unlikely.

 

[Greg Bell]

Stagflation...even worse than inflation...I told you to buy some beans and ammo..I'm off to Wal Mart to buy some Chinese bullets..I hope they work