The current red /blue states would be a good splice.

There are many parallels which I can see -having visited the USSR in 83.

The bad news is they were Bankrupt but the good news is it was achieved with barely one loss of life.

USSR 1990 = USA 2015

As a side thought I wonder if the unions could now buy the Big Three stock. It would be risky, but who better to take the risk than the employees who may get the benefit. We can’t afford to loose any more heavy industry.

I get my financial advice from Lou Dobbs and never from those experts. Over 2 years ago Lou Dobbs reported that over a trillion dollars of variable rate mortgage financing was going to be readjusted within the next 18 months. I started to move around the pension funds then switching over to T-Bills.

I also agree that China will finance their stimulus by dumping part of their US dollars. I also would like to remind everyone that Hillary Clinton warned of this possible scenario and its devastating implications. This will destroy the dollar. The price of oil will skyrocket since it is set in US dollars. This will give impetus to set the price of oil in Euros. We will be forced to contend with a reality of what it truly means to be a debtor nation.

My other comment got snagged on a tree limb I guess. Just wanted to say thanks for posting it and to NQ for the forum.

I have been beating this drum for three years. I wasn’t comfortable with housing and listened to the few voices of reality. I told a friend not to buy while we refused to up-size and ran from real estate 3 years ago. We dumped stock and put resources into cds and cash two years ago knowing what would happen to the market. I had no sympathy for my friend who lost his house and no sympathy with those swimming in debt.

I do have sympathy for those stuck in the middle. I am pissed I have to bail out others when we have lived within our means.

Peter Schiff Was Right 2006 – 2007 (2nd Edition)

As soon as the market implosion happened, the countries communicated and reached some basic agreements, which China apparently violated the very next day.

Do you have a link? I would like to see the youtube piece.

Few were writing about Obama’s associates. Some of us were callng Obama Bush III from the beginning.

There was another article saying Obama had to pick Summers. Obama needs to give the little people on both sides something, but that he needs to pick people like Summers to send a clear message that he is putting the country first not any constituency (of course it was an article by a far-right conservative who feels Obama needs to give several good kicks in the teeth to the left)

An article by a Dem said Obama needed to pick Summers because he is the best the Dems have to offer and Obama needed to prove he would not consider ‘ideology’. If Summers personal beliefs are to be ignored, the far-right should be very reassured about Obama’s slant towards the Supreme Court.

Sh!t.

I personally think and have tried to highlight here that there are upwards of $1 tillion in embedded losses in our banking system over and above the app 500-600million that has already been recognized.

The losses in the insurance companies and hedge funds could be of a similar magnitude.

Thus we are facing another 2-3trillion in losses.

No, you will not hear that from the powers that be. Again , they believe that they are doing us all a service by protecting us from that info because it would cause further panic in the markets and the economy but that’s the reality.

Non-transparency resolved with non-transparency because the Govt and their corporacratic shills think it’s ‘good for us’? Open you window, you can hear me scream from here.

My belief? Screw the paternalistic view in this country that issues are just too complicated for the morons of main street to understand so govt is going to take care of it for us. Dump the data.. the experts always digest it and put it into terms people at every level can understand.

People shouldn’t invest in banks that are participating in loans with crap for collateral, but investors aren’t allowed to know which banks? Won’t investors be compelled to ignore the industry as a whole thus negating the mis-guided efforts of our Govt? If I was a non-participating bank I would be shouting it from the rooftops for my shareholders but would I be surprised the corporacrats have agreed to secrecy at the expense of their shareholders? No.