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Old 12-06-2011, 11:08 AM
 
Location: Planet Eaarth
8,955 posts, read 18,862,962 times
Reputation: 7193

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One of the very first indicators of a economic collapse is the classic "Run on the bank" where people panic and try to take all their money out of the bank.

This run is now underway in Greece which could pull down the Euro which in turn could pull down the Dollar just like dominos.

The time is at hand for all to think clearly to avoid a panic here at home in America.

"Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse."


Euro Crisis Uncertainty: Anxious Greeks*Emptying Their Bank Accounts - SPIEGEL ONLINE - News - International
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Old 12-06-2011, 01:31 PM
 
3,201 posts, read 3,538,451 times
Reputation: 1025
It will be like an iced over tree branch breaking. I will collapse in one movement. I imagine very soon.

Quote:
Originally Posted by Tightwad View Post
One of the very first indicators of a economic collapse is the classic "Run on the bank" where people panic and try to take all their money out of the bank.

This run is now underway in Greece which could pull down the Euro which in turn could pull down the Dollar just like dominos.

The time is at hand for all to think clearly to avoid a panic here at home in America.

"Many Greeks are draining their savings accounts because they are out of work, face rising taxes or are afraid the country will be forced to leave the euro zone. By withdrawing money, they are forcing banks to scale back their lending -- and are inadvertently making the recession even worse."


Euro Crisis Uncertainty: Anxious Greeks*Emptying Their Bank Accounts - SPIEGEL ONLINE - News - International
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Old 12-06-2011, 01:36 PM
 
Location: Sierra Vista, AZ
16,925 posts, read 22,210,792 times
Reputation: 9178
Quick, buy Gold LOL
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Old 12-06-2011, 05:49 PM
 
Location: Los Angeles area
14,017 posts, read 19,004,544 times
Reputation: 32450
Quote:
Originally Posted by joebaldknobber View Post
It will be like an iced over tree branch breaking. I will collapse in one movement. I imagine very soon.
I'm sure you will. You know yourself better than we know you. After you collapse ("very soon") will you still be able to post on CD to let us know about it?
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Old 12-06-2011, 05:53 PM
 
8,265 posts, read 11,261,216 times
Reputation: 4788
Thanks for the info Tightwad!



Sell Mortimer, SELL!


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Old 12-06-2011, 06:32 PM
 
Location: Metro Detroit, Michigan
18,437 posts, read 16,784,110 times
Reputation: 18459
We've collapsed long ago, but thankfully, the blow was softened with a nice soft pillow of bailouts, credit, freshly printed greenbacks.... I'm sure any future collapse will be handled in much the same way.
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Old 12-06-2011, 09:51 PM
 
Location: Brawndo-Thirst-Mutilator-Nation
19,020 posts, read 19,330,226 times
Reputation: 16211
The USA will inject BILLIONS into a fund for the Eurotard banks............that will help for a while......then poof.....money down the drain.
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Old 12-06-2011, 10:26 PM
 
1,705 posts, read 2,665,405 times
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I'm going to bet there won't be a collapse and Tightwad will be posting these "Collapse is Imminent" articles two years from now like he's been doing for the last two years.

The Eurozone is struggling, but US fundamentals are a lot stronger than the bears give credit to. The US will continue a slow growth pattern for the foreseeable future.
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Old 12-07-2011, 11:40 AM
 
Location: Planet Eaarth
8,955 posts, read 18,862,962 times
Reputation: 7193
Quote:
Originally Posted by mustang84 View Post
I'm going to bet there won't be a collapse and Tightwad will be posting these "Collapse is Imminent" articles two years from now like he's been doing for the last two years.

The Eurozone is struggling, but US fundamentals are a lot stronger than the bears give credit to. The US will continue a slow growth pattern for the foreseeable future.
Folk's like you just can't stand it that ,in time, I may be right so you try to demean me as a person to deflect a truth you, and folks like you, are in denial about.

Your loss.............
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Old 12-07-2011, 11:55 AM
 
14,781 posts, read 38,884,094 times
Reputation: 14506
Quote:
Originally Posted by Tightwad View Post
Folk's like you just can't stand it that ,in time, I may be right so you try to demean me as a person to deflect a truth you, and folks like you, are in denial about.

Your loss.............
Well, even a broken clock is right twice a day...

It's very true that by continuing to "predict" collapse, you may one day turn out to be right. Is that day today, tomorrow, next week, next year, next decade, who knows. It's like all of those doomsday end of the world folks, one day they will be right, they just don't reall know when.

Of course, I could also choke all of it up to self fulfulling prophecy as well. The more people that think were all f'd the likelihood of us all being f'd goes up. The economy is as much about peoples attitude towards it as it is about products, money and the Fed.

So, "knock it off with all those negative waves, Moriarty".

"woof, woof...that's my other dog impression."
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