Congressman: We Came Within Hours of Collapse
 

Have you guys seen this shit? Crazy shit... basically says we came within hours of total economic collapse and martial fucking law....

http://www.dailykos.com/storyonly/20...189/142/695504

And the source is a PA congressman, watch the video.

Just insane...

I watched it its very scary.

Ugh, that's pretty fucked up.

:2 cents:

marking this for later

So what you are telling me is that both the dems and reps knew that the market was going to crash in Oct but told no one. :thumbsup

The government looking out of you!

Okay, stupid question --> Other than anarchy, what happens after a collapse?

The USSR collapsed, "The following day, the Supreme Soviet, the highest governmental body of the Soviet Union, recognized the bankruptcy and collapse of the Soviet Union and dissolved itself." http://en.wikipedia.org/wiki/Soviet_Union

So, it's kinda like "ground zero," and then you start to build back up?

pretty nice timing with the elections and all... *cough* *soros* *cough*

Good question... and in the case of the USA, I don't think the same caliber of people are in charge now as were when the country's government was originally set up. In other words, if our system of government were scrapped and we started over, it's frightening to think what today's "leaders" would come up with it its place. Also, there is such a cultural divide between the "north" and the "south" that one wonders if two countries would emerge? Is it even POSSIBLE that another civil war could happen? I would have said no way last year, but I also would have said no way a congressman would say in 2009 what this one just said. Funny how a year can change your outlook.

Yeah, just imagine everything they aren't telling you right now.
File this one in "News you'll never hear on CNN" .

Exactly...

we are fucked. if we don't start producing things fast ... yesterday :Oh crap

Sounds scary after the comments... hehe

If there was a civil war and the south seceeded... the south would be beyond fucked.

I posted this about a week ago. There is something more than a little off about this story.

Here's the Money Market data:
http://www.ici.org/stats/mf/mm_data_2009.pdf

The congressman claimed that $5.5 trillion would be pulled out of the "money market (MM) system" if they didn't immediately act . However the entire total amount of money in the money market system is less than $4 trillion. Also the most amount of money ever withdrawn in a single day from the MM is $140 billion. Certainly $5.5 trillion could not be pulled out of a pool that is smaller than $4 trillion.

Here's an article in rebuttal to the Congressman's statements.
http://www.portfolio.com/views/blogs...unds-the-facts

There is probably some truth behind the story but there also seems to be some things that are mixed up about it.

Well I guess the experiment of NAFTA, GATT and the WTO did not work?. We use to be able to get out of these situations with our manufacturing companies, but we don't manufacture anything anymore.

We have outsourced that to other countries to do, so now what do we the US, have to sale to the world to get out of this?. My answer is nothing, we have become a debtor nation that owes more than what we are worth. That is never a good situation to be in, even if we had a major war, I don't see us being able to turn this around in time.

Wars used to turn countries economies around and put people back to work. That was in the industrial period. We are in the tech and outsourcing period. I wonder what we can do to solve this?, I don't see an answer. I would say that maybe it's time that everybody learns how to hunt and fish again.

I agree -- Sadly, America has come a long way since 1776 (or 1783 or 1788, whichever year one wants to reference) and NOT in a good way :helpme

I haven't really thought about a civil war and what it would look like today, but I have a funny feeling God would be involved :warning:warning:warning

Texas has always wanted to be its own country anyway...

that the tax payers dollar at work for ya :upsidedow

would definitely make things uncomfortable!

So who else is a registered owner of firearms? lol

umm I think there would be more of a chance of those loopy right wing Christian nuts out west succeeding than the south. I live in the south and I don't see and real divide from the north. It's not like we are running cotton fields or anything down here.. lol

Now the extreme Relgious Right Wingers in the mid west, now that's a damn different story. They are clearly on a war path to divide this nation.

Uhh... The Economy has already collapsed.

THe hard part is admitting it.

No no, everything is okay..

lol... :1orglaugh

The US manufactures a wide range of products. The US, China and Germany are the big 3 exporters and after that no one else is close.

(2007)
1. Germany $1.3 trillion
2. China $1.2 trillion
3. US $1.1 trillion

And the US manufactures more almost every single year. Not less.

Manufacturing (5 year increments)

1987 $2.4 trillion
1992 $2.9 trillion
1997 $3.8 trillion
2002 $3.8 trillion
2007 $5.0 trillion

Just think of large US companies and the manufactured products will come to mind. Intel, Cisco, Dell, Hewlett Packard, GE, Boeing, Pfizer, Bristol Myers, Deere, Caterpillar, Terex, IBM, etc etc etc.

So what does the US manufacture? machinery, computers, computer parts, transportation equipment, mining equipment, chemical products, plastics.

Most of the world is in or entering a recession. It's not that the "US has to get out of this". Many dozens of countries have to.

what was the link to the other gfy thread about the money drawn out in less then 2 hours ? This is about that exactly.
Who and why took 550 Billion from the money market on sept. 15th 2008?
Somebody had inside intel and tried to cover their assets/asses somehow.

I can't believe there is any controversy over this.

The guy bought traffic. That's admitted.

The guy didn't pay for the traffic. That's admitted.

The guy should pay for the traffic. period.

This crap about "he treated me fairly - he's a good guy" means absolutely NOTHING.

This crap about "maybe you should have handled it differently" (paraphrasing) means NOTHING.

You take on a debt, you pay a debt. PERIOD.

Looser.

He's full of crap. So far this is no worse than 81-82 and NOWHERE near the Great Depression. These guys are fearmongering in order to justify their political moves. The stimulus bill has almost NO stimulus in it.

Heck, consumer spending was up last month.

"coup" and "collapse" are not the same.

being dissolved and willfully dissolving are not the same thing.

.. and what happens?
nothing much.
people still buy goods and services
people still sell goods and services
the economy adjusts
the financial markets adjust
everyone fully recognizes the need for rule of law
the currency adjusts
people keep living
the world keeps turning

etc


i stayed in russia and watched pretty much the whole thing for almost a decade. i wouldn't trade that time for anything.

idiots in this place act like we are living in the 1400's or something with no real concept of how a contemporary economy in a developed nation actually works on a macro level.

When bots go bad?

hmmm

i wonder who would do something like that
if it were an arab nation, the public would have known.
now what nation can do whatever, whenever.....(it's a trick question)

The US Congress is looking out for you.

It's all George Bush's fault.

http://bigpicture.typepad.com/commen..._bob_large.gif

The Shock Doctrine at work.

You can't steal close to $1 Trillion unless there is an imminent major threat.

Is this like the government being an attention whore?

I don't ever remember seeing so much of an hour of news being dedicated to politicians.

It's getting kind of repulsive.

This sums everything up in this thread.

One must wonder if someone was trying another repeat performance of:
http://en.wikipedia.org/wiki/Panic_of_1907
That led to the birth of:
http://en.wikipedia.org/wiki/Federal_Reserve_Act

If they succeed, and only time will tell, what new changes are in store for our current central banking system. It wouldn't be the first or even the second time it has been revised and restructered or simply replaced.

IF there was a run on the banks, does anyone care whodunnit?

I disagree, this is a lot worse. But what brought us out of that recession? Reagans deficit spending

We're definitely on the same page here. Not all "liberals" fit the definition you mentioned though, as I consider myself to be "liberal" but people always get me wrong when they try to define me based on that label. I am a proud gun owner, and think anything else in today's world would be irresponsible on my part. You mentioned the riots... then there was Katrina, etc. We're one REALLY major disaster away from some serious fucked up times in crowded metro areas, and I live in one of the most populated area of the country.