A bad economy may just be headed for worse

General General Discussion
1

DISCLAIMER: The link I’m posting is a religious Bible prophecy website, but if that bothers you they link to non-religious sources for their articles most of the time.

I like how they put the bullet points in concise form. Unfortunately, you’ll have to visit the link to open each one of the articles.

http://beastwatchnews.com/

The economy is not looking good–not at all.

I’m still reading a lot of the material in the links. There’s a lot to get through.

US & WORLD ECONOMY
Sign #1: Stock Market Collapsing
Hindenberg Omen Sighting; Market Downtrend Reconfirmed
All the major averages have taken out their recent lows and reconfirmed their intermediate term down trends. Both the NASDAQ Composite and Russell 2K are below their 200 day moving averages while the Spoo future remain tenuously above. The order from weakest to relatively “less weak” is: NASDAQ, Russell, and SP 500.

*Markets Still Look Rattled From Yesterday’s [Wednesday’s] Sinkhole
*Market Crashes Through 3 Support Lines, What Now?
*Stock market sinks as Dow Jones takes giant one-day drop
*Stock Market Gets More Manic as Fiscal Cliff Fears Escalate
*Warning: The Stock Market Panic Button Is About to Be Pushed

Sign #2: Derivatives Market Collapsing

*Divested business, derivatives losses weigh on Prudential’s third-quarter
*JPMorgan Posts Trading Loss on 10 Days as Derivative Bet Unwinds
*Enbridge posts profit on lower derivatives losses
*Palm Oil Posts Biggest Weekly Drop in Six on Record Stockpiles
*Continental Resources 3rd-Quarter Profit Down on Year-Ago Derivative Gain

Sign #3: Mortgage Interest Rates Rising

*Current mortgage interest rates gained slightly on Friday as banks adjusted to the falling stock markets
*FHA 30 year mortgage interest rates are being quoted at 3.000% with a rather higher APR of 3.657%
*Mortgage report at LoanSafe: Rates today are a mixed bag with rates going both up and down
*Mortgage Rate Volatility Follows Election
*Obama’s economic policies explained for Earthlings: Debt multiplication, the quantum multiverse and transdimensional accounting

Sign #4: Businesses Failing
Companies plan massive layoffs as Obamacare becomes reality
Freedom Works has put together a list of companies that will be laying of employees as a result of President Barack Obama’s health care law:

*Utah company blames Pres. Obama for 102 workers laid off
*Record 70.4 Million Enrolled in Medicaid in 2011: 1 Out of Every 5 Americans
*Obama heads to Asia amid looming fear of ‘Fiscal Cliff’
*Terence Corcoran: Obama’s recipe for U.S. decline
*US election results: Fiscal position will worsen, economy headed for slowdown, says Jim Rogers
*Jim Rogers: Money Printing Will Run Amok
*Greg Mannarino: Here Comes The Equities Crash As Obama Re-Elected- Dow 4,000 Possible
*Marc Faber Says Barack Obama Is A Disaster For Business; Expects A Massive Market Decline

2

You forgot one…Moody’s had already told Obombo that he isn’t getting a “fiscal honeymoon” and that if he dosen’t have the fiscal cliff resolved by the end of the year, they will lower the U.S.'s credit rating…

Remember, we went from AAAA to AAA, within the last year or so, if Moody’s lowers us to say, AA then we are just a couple of points above junk…A AA rating means that it will become much,much more expensive for the Gov’t to borrow large amounts of money…Despite what the idiots at the Fed say, you can’t print your way out of debt…It is possible, if something isn’t done, and done soon, we’ll end up just like Greece…

3

This fate was pretty much sealed when they passed QE3…which was basically print and spend forever.

Hang on people…the recovery will not be pain free…or short.

4

I HOPE Obama gets EVERYTHING he wants. I wish the House would rubber stamp ANYTHING he asks for. This country needs to be, and DESERVES to be, brought to its very knees for re-electing this incompetent bumbling idiot. I hate that it would affect good folk too, but once a person, or a nation, hits rock bottom, there aint no place left to go but up. IF you survive the fall, that is.

5

A very likely possibility, Bohner is already bending over, and he wants to go “hard” to the left and talk taxes with the mystery in the white house…

6

People want the programs…then we need to pay for them.

Plenty of people here want them. Time to pay for em.

7

EXACTLY! The only positive in this whole shit (You really have to want to see it) is that this bastard will take the country to rock bottom. Then all his disciples will realize what they’ve done & maybe we can hit the reset button & clean out the crooked fucks who ruined our once awesome country.

8

The only handouts I get are from the chickens outside.

I fully agree. It is time for a hard, painful, and lengthy reset.

I’ll still be here when it’s over.

9

I got a kick out of Rush’s suggestion that Republicans vote “present” on all of the Dem’s bills. Just like Obama did for controversial legislation as a IL Senator. That way it would be clear whose policies put the country in the hole without the GOP being blamed for driving the ship or obstructing its captain.

I’m not so sure. Greece is very close to rock bottom and its population shows no sign of seeing the light. Most countries seem to go the fascist dictator route or communism in response to rock bottom. In fact, I really can’t think of a country that went bankrupt and emerged more democratic and with greater liberty. I’m not so sure that we will be different. Something tells me that any future amendment to the Constitution will be an en masse revocation, and will pass with thunders applause…

10

Maybe Sensei, but I believe we are a resilient people. Some of us still believe that hard work equals success. That’s the way I was brought up & I only associate with like minded people. There’s quite a few of us still out there. If the bottom did fall out, even if it’s not a speedy recovery, I think we’ll recover.

Greece may not be the best comparison. Hell they close up shop to take naps in the after noon on regular “Work” days! LMAO! What a beautiful country though. So sad.

11

Yep, my wife is Greek. The bitch won’t even make me dinner…

12

America, TWICE, run into the ground, by a Kenyon pres. I am more and more, believing in that the world really is run by a panel of “7”.

13

HAHA! I’m telling her you called her a bitch!

Gotta put your foot down: “Greek style or dinner…Your choice woman!”:smiley:

14

problem is some of us are not enough ? The majority does not and is willing to let the gov dictate what happens to them

If obama says its now so bad I need to stay here to fix it sorry no elections for a while folks will cheer msnbc will be singing the praise !

As soon as we are weak enough I see a UN contriolled US and obama will be proud to say as the worlds leader we need to be the first lead by example and have a new world gov

15

some companies announced a lot of layoffs. A couple oil gas projects got cancelled after the election at work

16

I can’t help but notice the complete lack of “tin foil hatters” comments.

Everybody knows we’re in deep deep shit now.

17

No, I think we are all just tired of saying it. Does everyone here truly thing that America will crumble in 4 years.

18

No.

Sent from my iPhone 4S using Tapatalk

19

Crumble? No…but we’re going to be stagnant. A lost decade like Japan had with no real economic growth that isn’t funding with trillion dollar deficits. The only reason we are in positive GDP numbers is because of gov spending and QE…but that won’t last forever as we risk credit rating reductions and inflation.

A lot of other government’s around the world have reduced spending or found other ways to shore up their budgets. We’re going full steam ahead with borrowed and printed money.

20

Crumble? No. Just a slow painful death.