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The World Economy Will Fall Soon
07-27-2011, 02:07 PM #1
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
The party's just about over. marketwatch.com is reporting legendary hedge fund manager George Soros has made the decision to stop taking money from outside investors, and is RETURNING money to outside investors from his $25 billion hedge fund.
This is a definite vote of no confidence in the world economy.

wonder.gif
07-27-2011, 02:29 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
Quote:Credit hit worries Obama, Congress more than default

It’s not the default that strikes the most fear in the White House and Congress these days. It’s the downgrade.

Even Republican leaders say the country can’t go into default, and they’ll do everything possible to raise the debt limit by Aug. 2.

But what really haunts the administration is the very real prospect, stoked two weeks ago by Standard & Poor’s, that Barack Obama could go down in history as the president who presided over his country’s loss of its gold-plated, triple-A bond rating.


Read it here: politico.com

A downgrade would likely have disastrous ripple effects throughout the world economy. Default is becoming irrelevant at this point with this ominous prospect hanging over their shoulders. Interesting economic developments as of the last few days that could amount to real game changers for us all.





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07-27-2011, 02:32 PM #3
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

He's doing that because he would have to report to the SEC because of the Frank Dodd Bill of last year. He doesn't want to do that. So instead of dealing with other people's money to the tune of a billion. Pocket money to a man whose own capital is around $24 billion. He's keeping business in house family only.

The guy has been an insider his whole stinkin' life. But I agree with him, ğck the SEC.

As to the great Ponzi scheme, let it burn. But it will happen when TPTB say so.

I would hazard a guess at 2013, consider the FED was spawned in 1913 since then, the dollar value has lost 98%, 1% a year. Two years left.

Or it could happen next week. With the algorithms running the show, lets hope they don't turn sentient.
07-27-2011, 02:37 PM #4
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
The ball is picking up speed that's for sure. Was just reading that a US downgrade from AAA will cost $100B each year in interest expense
http://www.zerohedge.com/news/cost-us-do...on-efforts
It will of course raise the cost of borrowing for Americans too, mortgages, credit cards etc.
The comments at zerohedge are always interesting. Posters say it's a non-event just another tactic to scare people into supporting another debt ceiling raise.
07-27-2011, 02:49 PM #5
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

This. is how great the scale of the PONZI.


114.5 Trillion Dollars
$114,500,000,000,000. - US unfunded liabilities


Check this out for the visualization of US debt http://www.wtfnoway.com/

A quote from it
Quote: $1,000,000,000,000
When the U.S government speaks about a 1.7 trillion deficit - this is the volumes of cash the U.S. Government borrowed in 2010 to run itself.
Keep in mind it is double stacked pallets of $100 million dollars each, full of $100 dollar bills. You are going to need a lot of trucks to freight this around.

If you spent $1 million a day since Jesus was born, you would have not spent $1 trillion by now...but ~$700 billion- same amount the banks got during bailout.
İmage
07-27-2011, 02:55 PM #6
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
(07-27-2011, 02:32 PM)Prometheus Wrote:  He's doing that because he would have to report to the SEC because of the Frank Dodd Bill of last year. He doesn't want to do that. So instead of dealing with other people's money to the tune of a billion. Pocket money to a man whose own capital is around $24 billion. He's keeping business in house family only.

(07-27-2011, 02:37 PM)Shadow Wrote:  The ball is picking up speed that's for sure. Was just reading that a US downgrade from AAA will cost $100B each year in interest expense

Hey P!hi5.gif Hey Shadow! hug.gif

I've read that sentiment around the net P, could very well be the reason, and yes Shadow, the US can not afford to pay interest payments even if every citizen were taxed at 100% of their income, imagine adding 100 billion a year to that?
Regardless of the debt ceiling outcome, we're all ƒükkêd and they know it! gaah.gif

wonder.gif
07-27-2011, 03:06 PM #7
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
hug.gif JR hug.gif P

What I find a little amusing is shouldn't the downgrade happen with a raise in debt ceiling? Basically the rating agencys are saying the US must take on even more debt to keep the AAA which is ass-backwards to any other borrower.
07-27-2011, 03:31 PM #8
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,567 Threads:1,444 Joined:Feb 2011
(07-27-2011, 03:06 PM)Shadow Wrote:  hug.gif JR hug.gif P

What I find a little amusing is shouldn't the downgrade happen with a raise in debt ceiling? Basically the rating agencys are saying the US must take on even more debt to keep the AAA which is ass-backwards to any other borrower.

rofl.gif It's like a another bubble waiting to burst, only this one transcends personal home mortgages. This is going to ultimately mean the banks will officially own entire countries once it pops, and taxpayers funded the new arrangement via debt slavery for many generations. 13.gif

wonder.gif
07-27-2011, 03:55 PM #9
yankees skier
Posts:5,894 Threads:215 Joined:Feb 2011
gaah.gif

Biere.



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