U.S. Supercommittee Ready to Announce Failure -- Market Crash, Moody's Downgrade?

Get a room!

Thanks.

No not a retard at all. It is just that most of us have been burned hard on date predicitons & are loath to do so again. I do agree, this week look nastier by the minute.

Oh! Don't be cross!

Just kidding....

God speed to you too, Sir.

All we can do is have our preps in order. Physically, mentally & spiritually gird the loins. I do not like what I see in the future but am fully prepared to weather it with dignity & integrity.

I believe God put us all here at this time for a reason. I had my daughter watch "Passion of the Christ" this weekend so she could better understand hardship, sacrifice and love.

The forthcomming hardships will either further divide people and we will destroy each other, or we will discover that our petty philosophical differences do not matter & we will come together. Time will tell.

I know.

So you think this is the final plummet? If they go up again, and I think they will, when ever the final plummet will be the metals will drop along with the market just as it has been, but at some point the 'few all knowing' will all go into metals, and they won't go down anymore.

How will we be able to tell when that will be?

DooM!!!!

Wow...You're late.
Nick®

Well said, Jane, but I think you may give humanity a little too much credit. Civil society was destroyed a long time ago, and this won't be over until enough bad guys (or good guys) have died. Or until our Lord Jesus Christ returns, in which case, I'm afraid it's mostly good guys.

S&p just hit 1185 ( Art Cashin said this morning there'd be significant damage if it broke that mark)

I'm on my iPad but the video is on cnbc.com

I just had a look at the Middle East markets, they dont look good either

[link to www.zawya.com]

Oh no...
Nick®

I think this could be the beginning of the final plummet. I think it will happen a week or less on the heels of the EU implosion. The metals will plummet, along with the markets, as people globally liquidate to cover margin & short positions. The metals will stay down for a while as the dollar & the US markets desperately gasp for life. Then the metals will go up again as people realize they do not wish to trade their goods for paper & the dollar implodes behind the euro.

I do not have a crystal ball and my opinions are adjusted as world events take place. If a major war breaks out involving Iran, all bets are off the table.

Just stay on top of things, and make sure you have a good supply of non perishaable food in case of bank holidays.

Glad no one fell for the bear trap rally.

How much longer do you think all this BS(and I am not just talking about DC,i.e,-Japan)go on for w/o the world descending into chaos. I am not sure at all we will make it to Nov. 2012 at this rate.

Yes, but he is certainly in the party mood, lol!

I have to cling to some hope, in order to maintain sanity through the chaos.

Sometimes I wish the good GLPrs were not spread wide across the globe. We could make a strong community of diverse talents. Guess we just have to show leadership where God has chosen to place us.

A couple did. I begged them to not get lured in, it happens.

Certinaly can't fault em for that. Hall pass AC.
Nick®

They probably have some little "details" along the way, but the major milestones are:

- Force all retirement/pension funds to purchase US treasury bonds to provide a synthetic demand for debt, to lower borrowing costs.

- Begin a program to nationalize all mortgages handled through MERS to completely bury the bank's criminal activity in mangling property titles while fabricating RMBS instruments.

- Second to last, they will roll all retirement/pension funds into a single, "new and improved" social security plan to shore up SS for a couple years, and liquidating all equities and bond assets other that US treasury bonds in this pool. This will give them about 18 months or so.

- Finally they will authorize congress and US treasury to print non interest bearing currency (greenbacks) to handle payment of debt interest and day to day operating expenses since the debt market will finally be forcing interest rates on US debt to bankruptcy indicators. Then the presses will really be fired up and we enter the final hyperinflationary period of the dollar.

Dow -310

I could have sworn I read that if they gridlocked, that automatic cuts across the board would kick in. Anyone remember reading that?

Yes. But I wonder if the new bill allowing congress to run for another 30 days over-rode that in some way...

What if this tactic is being used to make the Super Committee appear incompetent so that attention is driven away from their power grab from the Constitution? If they fail with this, people will stop looking at them as a threat, then they can become the dictatorial power that they were designed to be while everyone else has went back to watching DWTS.

I mean Government run for another 30 days not "congress"

Finally, it is going to happen despite their discrimination. As well as this town where those and others started this crap out over 40 years ago.
It time to pull out the witnesses and end this political parties (both) crap parade.

some still act like sh!t-heads from Vietnam as well as others along with civilians as well as coming into this country with it a long time ago.

Liars, cheats, and the Hell with them for victimizing people and attacking them with their lies.

Ah, yes trying to avoid the auto cuts, no?

[link to www.foxnews.com]

Yes, the auto cuts are supposed to kick in, but there are now rumors about that congress is planning to mitigate that decision. Once again, more smoke mirrors & BS.

Imagine, if they let the autocuts happen, the repubs will have many pissed off corporate pacs to deal with & the demos will have pissed off the entitlement crowd.

Could not agree more. Despite it's faults GLP has some extremly smart users. A community comprised of many of us would be a very strong sucessful community filled with colorful disagreements as well as leaky laughter. My hopes for this forum is that everyone learns enough here to take with them when it is gone. I hope that paranoia has forced many of you to print the knowledge you have found here for future use. I hope that many of you have listened and prepared in whatever ways you can. United we stand a chance of survival. The other alternative is not an option. Stay strong all and always thrust true.

Nick®