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TEOTWAWKI - surfing the apocalypse thread
#2
Some more doom-mongering prophecy from Rasipedia on the prudent bear:


Quote:Section 3: What will happen even though the "Hanktator Act" was enacted

Now that the Hanktator Act has been officially passed, I am modifying my predictions for what will happen going forward--even though at this point it's anybody's guess as to what the heck will take place next in this insane economic environment.

To wit:


1. As of October 12th, I am no longer sure that bank runs won't be coming soon to a neighborhood near you. Especially since the U.K., Germany and France are this weekend set to announce the effective nationalization of their banking systems and the U.S. expressed similar intentions this weekend. These governments would not be making these unprecdented moves in unison if they were not concerned that the banks were about to experience a panic run on them, in my opinion.

2. I am also no longer sure that the Federal Reserve will be the first one lined up at Treasury's window to start trading in the now-almost-one trillion or so fiatscos worth of totally dead assets it took on its balance sheet from failed financial institutions around the world. This is because the entire U.S. banking system is on the brink of failure and Hank Paulson is now stating that he will use the TRILLIONS of fiatscos authorized by Congress to try to stave off collapse and a run on the banks. So, the Fed may have to wait--perhaps forever--to ever deal off these dead "assets".


3. One thing is for certain: The U.S. government has made it a top priority that house prices will not fall any further. Instituting everything from outright foreclosure forebearance to the authorizing of Fannie and Freddie to start purchasing dead, toxic MBS, the feds are desperately trying to keep the housing collapse from continuing unabated. Whether or not they will be successful remains to be seen. However, if these latest actions fail, you be absolutely assured they WILL resort to even more radical measures--even including the federal government literally buying empty houses outright and moving sheeple into them at no cost.

4. Clearly the U.S. automobile industry has failed and will be nationalized in one form or another. Whether GM absorbs Ford and Chryslyer first and then is absorbed by the federal government or whether they are all nationalized individually (with perhaps one of them allowed to be dissolved), it is absolutely guaranteed that there will be a government bailout of the U.S. auto industry.

5. Sorry to have to report this, but I still see tens of millions of people thrown out of work and/or losing their business. Especially in the bloated, useless "F.I.R.E" (Financial, Insurance and Real Estate) sector.

6. I am now fairly confident that that the sheeple's 401(k)/IRA mutual funds are going to be destroyed one way or another. Either through the continued stock collapse (as of this writing the DJIA, S&P and NASDAQ have all crashed apprroximately 40%) or through confiscation/taxation of their funds/gains. There are already discussions going on in Washinton D.C. as to how the feds might start tapping into the trillions of fiatscos currently trapped in the 401(k)/IRA system.

7. I still can't decide whether the U.S. bond market crashes or skies. If our Asian and OPEC debt-enablers keep buying up the multiple-trillions-more fiatscos of Treasury debt we will be issuing to fund all the bailouts, then perhaps interest rates stay low.

However, if our debt-enablers demand higher interest rates to compenasate them for the risk, or the Federal Reserve have to step up and fling some fresh fiatscos to buy the debt, then all bets are off and we could see a full-blown bond crash.

8. While the U.S. fiatsco has been on an upward rocket shot these last few weeks as other currencies collapse, I cannot make a confident prediction that this trend will continue. I just don't know how the debt funding will play out and this will be a large determinate as to the relative value of the U.S. fiatsco going forward.
http://boards.prudentbear.com/bbs_read.a...=A#M744199
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
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TEOTWAWKI - surfing the apocalypse thread - by Jan Klimkowski - 12-10-2008, 05:38 PM

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