Oil's energy contribution has declined by about 12% since 1999. The world's economies have also declined by about 12%. (Using conventional metrics, which are time delayed determinations, this will only be seen in hind sight). The massive destruction of asset values now occurring testifies to it happening.
Peak is well behind us, world economies have peaked and will continue to decline.
Joined: Dec 02, 2005 Posts: 6786 Location: Oil-addicted Southern Californucopia
Posted: Mon Sep 22, 2008 3:13 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Ferretlover wrote:
Did anyone just hear the male commentator, Dylan, on CNBC just (at 2:43 CTZ) say, "The New World Order is now in effect." ?????
Well, there you are. Guess all those wild-eyed conspiracy theorists are right about everything, after all.
Armageddon, you've been correct all along. We're going to be reduced to the level of medieval cerfs any time now. Get a copy of "Monty Python and The Holy Grail" for tips on how we should dress and act. _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Joined: May 27, 2007 Posts: 1776 Location: The Post Peak Oil Historian
Posted: Mon Sep 22, 2008 3:39 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
I think Dylan had an epiphany recently. I think he choked on the lies they were requiring everyone to say and he just rebeled. He is like the last person I would have expected it of. He now appears to be operating under his new revelation. I applaud him on it, but in this environment, he could be putting his head on the block. _________________ In a time of universal deceit, telling the truth is a revolutionary act. - George Orwell
It riles them to believe that you perceive the webs they weave. - Moody Blues
Last edited by Cid_Yama on Mon Sep 22, 2008 10:57 pm; edited 1 time in total
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Sep 22, 2008 3:46 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
Zardoz wrote:
Ferretlover wrote:
Did anyone just hear the male commentator, Dylan, on CNBC just (at 2:43 CTZ) say, "The New World Order is now in effect." ?????
Well, there you are. Guess all those wild-eyed conspiracy theorists are right about everything, after all.
Armageddon, you've been correct all along. We're going to be reduced to the level of medieval cerfs any time now. Get a copy of "Monty Python and The Holy Grail" for tips on how we should dress and act.
On my way home, I heard that on XM radio and thought - WTF?
It seems Wall Street is resigned to a takeover of the financial markets by the Treasury to save their bacon.
I guess we all will owe our souls to the company store now. _________________ It's already over, now it's just a matter of adjusting.
The companies said they were urged to increase purchases of subprime debt by the Bush administration. The Department of Housing and Urban Development said in 2005 that Fannie and Freddie should increase financing for low-income areas or moderate-income regions with high minority populations to 37 percent of new business from 34 percent in 2001 through 2004. That rose to 39 percent last year.
The updated goals "were significant enough to force them to go down the credit curve to meet them, which meant participating in some way or form in the higher-risk areas of the mortgage market,'' said David Stevens, a former head of Freddie's single- family mortgage business who now runs lenders affiliated with Long & Foster Real Estate Inc. in Fairfax, Virginia. That included "the subprime business.''
Joined: Aug 23, 2004 Posts: 574 Location: New Zealand
Posted: Mon Sep 22, 2008 5:46 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
They want home prices to be low and high at the same time.
Schizophrenia in government? Never! _________________ Congress has found themselves in a bear trap. They will chew off three legs, and still be caught in it...
Posted: Mon Sep 22, 2008 6:27 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
shady28 wrote:
I've got to say it now, so when this bear market rally in commodities / oil / gold pops and the prices collapse I can refer back to it.
This is just a bear market rally. Commodities of all kinds are going to fall as demand dries up and debt collapse continues to drain liquidity out of all the markets. This relief package will not re-inflate the bubble; the trend is still down.
Gold is highly unlikely to collapse. It's a safe haven during times of uncertainty, whether people think deflation is going to happen or inflation. I used to be in the inflation camp. Now I'm thinking hyperinflation is a distinct possibility.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Mon Sep 22, 2008 7:58 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
threadbear wrote:
shady28 wrote:
I've got to say it now, so when this bear market rally in commodities / oil / gold pops and the prices collapse I can refer back to it.
This is just a bear market rally. Commodities of all kinds are going to fall as demand dries up and debt collapse continues to drain liquidity out of all the markets. This relief package will not re-inflate the bubble; the trend is still down.
Gold is highly unlikely to collapse. It's a safe haven during times of uncertainty, whether people think deflation is going to happen or inflation. I used to be in the inflation camp. Now I'm thinking hyperinflation is a distinct possibility.
The US Treasury is specifically authorized to 'stabilize' the price of gold, and other unmentioned 'securities' as it sees fit (I just posted this on another thread http://www.peakoil.com/post775018.html#775018).
The price of gold or oil falling for a few days because of liquidation of a failing broker or the Treasury's exchange fund doesn't mean we are headed for deflation.
If there were no downward manipulation lately, gold wouldn't have rebounded up $115 in 24 hours, or oil $25. _________________ It's already over, now it's just a matter of adjusting.
Joined: Mar 12, 2007 Posts: 1009 Location: As close as I can get to the beginning of the pipe.
Posted: Mon Sep 22, 2008 8:56 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
I was watching Chris Dodd on NPR tonight. He said hurry, hurry, hurry to get this bill passed. He must have said it 20 times. He even referred to the 43 days to the election, after which we get a new Secretary of Treasury.
Yes, he said that. I couldn't believe it. So we need to hurry so that Paulson can complete the rape of the American public for his GS buddies. Are we going to have to pay for the rape kits, too? _________________ "When fascism comes to America it will be wrapped in a flag and carrying a cross." --Sinclair Lewis
Joined: Nov 11, 2007 Posts: 122 Location: Portland metro, Oregon
Posted: Mon Sep 22, 2008 11:59 pm Post subject: Re: Housing and Economic Collapse - In Progress #3
RonMN wrote:
Face it guys...if this trillion $ bailout does not happen, we'll be living on our prep rations in a week or 3...
If it does happen, will be living on our prep rations in a quarter or 3.
Maybe that's why folks are so quiet...
Got rice?
Damn straight!
At least it would level the playing field somewhat to have the banksters loose control. And it would give us all a better chance to recover down the road.
I'd rather rely on my preps now than give these bastards a chance to steal more from me and then leave me/us out in the cold, hungry and broke.
It's coming one way or another, and I'd prefer that these criminal f!!kers don't get to win.
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