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The unrestricted nature of freedom in the absense of discipline and virtues of morality, whether God generated or humanist generated, can evolve into a myriad of disatrous consequences. ....
Schtyk...
remember when I stated (concerning Fannie/Freddie/ minority) that it was a smoke screen, and listed some facts to consider that would bring you closer to the truth? I forgot about this article...
"Who stands to gain? There is no transparency for CDS trades, which means that we don’t know who these buyers are. But in order to get paid on these CDS, the buyer must be a DTCC Participant… and that brings us to Citigroup, Goldman Sachs, JP Morgan and Morgan Stanley – all Participants at DTCC [Depository Trust & Clearing Corporation] and instrumental in designing and developing CDS trading around the world."
Russian analyst predicts? Uh oh...we'd all better start planning for what's going to come after the country breaks up. Them Russians know what they're talking about. They even invented baseball!
Schtyk...
remember when I stated (concerning Fannie/Freddie/ minority) that it was a smoke screen, and listed some facts to consider that would bring you closer to the truth? I forgot about this article...
"Who stands to gain? There is no transparency for CDS trades, which means that we don’t know who these buyers are. But in order to get paid on these CDS, the buyer must be a DTCC Participant… and that brings us to Citigroup, Goldman Sachs, JP Morgan and Morgan Stanley – all Participants at DTCC [Depository Trust & Clearing Corporation] and instrumental in designing and developing CDS trading around the world."
MyFox New York | Shame, Shame, Shame: Lehman Brothers Collapse (http://www.myfoxny.com/myfox/pages/Home/Detail;jsessionid=55FFA8AD33B79D9DB117A3E8C10F1010 ?contentId=7939247&version=1&locale=EN-US&layoutCode=VSTY&pageId=1.1.1&sflg=1 - broken link)
Good morning & Happy Thanksgiving.
Four years ago, I was working at a small independent bank in one of the southern states. Most banks and mortgage brokers do not hold their mortgages they are merely conduits for the secondary market. At the time we did not sell to the secondary market and believing correctly that we were missing an opportunity we decided to partner with a mortgage company.
A very bright young president came to our location and provided a 45 minute presentation. Having a long history in the business I consider myself pretty savvy with prudent lending, not much I haven't done or much I haven't seen yet I am still very modest salaried not much of a climber, jumped off the ladder too many times.
When that young lady finished with her presentation there was only one question asked and I asked the question. "Ma'am, what you just said to us is that if I provide you an application and a warm body, with A,B,or C paper you can make that individual a loan". "That is just about right she quipped".
After that meeting, I went into my associates office and still shaking my head said, "If this is going on all over the country in three or four years there is going to be hell to pay."HAAAA!
That is a true and exact accounting. My reason for relating that to you is this. I am not a six figure guy. I have had a wide range of experience in life. If I had the understanding 4 years ago, to recognize this at my low level of operation, what kind of f...ing entourage of f...ing millionair-billionaire fools brought us to this situation? They have destroyed us for at least half a generation probably maybe forever brought socialism to our doorstep if not stabbed us in the heart with socialism.
Mad at McCain, with all due respect, No manner of eletist obfuscation, no matter how erudite or pedantic ,is going to erase the fact ,that this country is run by a bunch of overeducated, narcissistic, aristocratic f...ing fools, that have less understanding of the real world than you and I. This is true of all of Obamas new crew and it is true of all of Bushes old crew and it is true of 2/3 of congress and the senate.
I am a capitalist and probably mostly a libertarian at heart. However, if these g...amn fools just happen to drive off a cliff and their airbags just happen not to deploy ,I will count that as good for the country that I love and have fought to protect.
I needed to add this to my rant. The politicians, the CEO's, established the framework for this catastrophe. For a hundred years the five Cs of lending, particularly the understanding of cash flow, collateral, and character kept the capitalist system strong. When those were thrown out the window, in favor of the real and most predominant idiots, the socialists, and their CRA initiatives in order to buy votes, the system was destroyed.
The system is destroyed and these f...ers, Dodd, Shumer, Pelosi, Frank, are still pushing their initiatives, even in the face of what is happening. God help us friend, it is over, it is just a matter of time. It is not possible to stop a deadly fall from a cliff unless you open a parachute. If you set up a trampoline yo might get a bounce and then fall half as far to your equal demise or then again you might just pass right on through to your demise. Someone had better be riggin a parachute pretty fast.
Right now I see nothing in the mix that looks like a parachute. Results rarely ever happen in the scale of a short time. In about four years, remember we had this little chat.
Mad at McCain, with all due respect, No manner of eletist obfuscation, no matter how erudite or pedantic ,is going to erase the fact ,that this country is run by a bunch of overeducated, narcissistic, aristocratic f...ing fools, that have less understanding of the real world than you and I.
I am a capitalist and probably mostly a libertarian at heart. However, if these g...amn fools just happen to drive off a cliff and their airbags just happen not to deploy ,I will count that as good for the country that I love and have fought to protect.
I couldn't agree with you more. The market was bad today so I'll be working very late into the night to figure out how to cover losses. What sends me over the edge is that NOBODY is talking about the DTCC's at all. It's like a dirty little secret. It's all a scam that was outlawed in the United States about 100 years ago. If I can remember what it was called then, I'll quickly post it to you. It was called some type of betting which laid the groundwork for the last big crash. Sorry I have to post quickly and get out of here but I'm glad you spoke. Thanks :-)
RUSSIAN ANALYST PREDICTS DECLINE AND BREAKUP OF USA
A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse, and will divide into separate parts.
DRUDGE REPORT: RUSSIAN ANALYST PREDICTS DECLINE AND BREAKUP OF USA 2008® (http://www.drudgereport.com/flashrur.htm - broken link)
I remember when Russia was poorer most western analysts thought Russia would break up and fall apart. But that didnt happen. How will it happen to a country much more economically stable and advanced then Russia?
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by CLTKing
I wouldn't take serious what he implies. First of all, the USA's economy might be on a recession, but it is not collapsing. In fact, all of Europe and Asia is in a recession. The US dollar has gained value versus the Euro and the UK pound. The Russian Ruble, has lost almost 17% of its value. Regarding territory integrity, he has no idea what he is talking about either. First, the Asian population in the Pacific states has no desire for secession from the USA, further more; their population is not big enough to have much of a saying on the direction of that area. Second, Hispanics are not only living in the South of the US, they are spread all over the nation, mainly on the big cities. Third, Texas has no aspiration of becoming the Republic it once was. Fourth, Alaska will never be part of Russia, we bought it, it is ours. And Fifth, Canada has no interest in annexing any USA territory.
I couldn't agree with you more. The market was bad today so I'll be working very late into the night to figure out how to cover losses. What sends me over the edge is that NOBODY is talking about the DTCC's at all. It's like a dirty little secret. It's all a scam that was outlawed in the United States about 100 years ago. If I can remember what it was called then, I'll quickly post it to you. It was called some type of betting which laid the groundwork for the last big crash. Sorry I have to post quickly and get out of here but I'm glad you spoke. Thanks :-)
You are one up on me there as I don't know what a DTCC stands for ,though when you tell me ,I may recognize the superficial nature of it. I do understnad the nature of the bank failures in the same way a seargent on the front lines understands the nature of war better than a general moving war pieces around a board.
In this case the quote is very adequate to explain the situation,"the referees were taken from the field". What I don't understand is how all of a sudden we have such disaster in other areas, i.e. the auto industry, state and local governments. Actually, I do understand that in the auto industry the unions are ruinous to the process,- as well as execs not pulling their load. Although I somewhat accept the premise that brilliance deserves compensation, frankly, it is impossible for me to believe that any man is worth say 6 million per year, which on a straight week, no overtime would be $2,884.46 per hour or $1,442.41 after taxes. I just don't get that concept. Nonetheless I hope you are making lots of money. Personally, I want to see everone do good.
News, As if Things Weren't Bad Enough, Russian Professor Predicts End of U.S.
MOSCOW -- For a decade, Russian academic Igor Panarin has been predicting the U.S. will fall apart in 2010. For most of that time, he admits, few took his argument -- that an economic and moral collapse will trigger a civil war and the eventual breakup of the U.S. -- very seriously.
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News, As if Things Weren't Bad Enough, Russian Professor Predicts End of U.S.
