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LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"

 
paladin

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09/01/2007 09:22 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
The Myth of the Slow Crash

by Eric Janszen


The Fed's Foggy View

If slashing the discount rate half a percent ten days after hoping that the markets might self-correct appears flip floppy, remember that the Fed considered rate hikes as recently as May when inflation remained the Fed's predominant concern. Investors have reason to worry that this Fed does not know how to apply, now that the fire is burning, what it learned during the drills.

Coming off the housing bubble, the Fed is worried about the US experiencing a flavor of runaway debt deflation such as Japan suffered after their real estate bubble collapsed starting in 1992. Preparedness for that eventuality was the gist of Bernanke's now famous helicopter money speech in November 2002, two and a half years before the housing bubble peaked. The monetary downdraft potential of a US recession under current household debt conditions with financial markets risk polluted at red alert levels is severe.

In my last article, I explained how a financial market crash caused by credit contraction is a long process. As the Japanese learned, when a credit bubble finally pops, the economic impact can be very swift.


The lesson the Fed learned from the Japanese experience is: once debt deflation forces are in play, don't delay cutting rates. In a credit contraction, disinflation can get away from you quickly, driving up real rates of interest and shutting down the money creation machinery. Keep inflation above zero at all costs.



[link to www.itulip.com]
Anonymous Coward
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09/01/2007 09:43 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
The day more loans are paid off than there are new loans created is Dooms Day.
Anonymous Coward
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09/01/2007 10:41 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
...needed immediately with No Amendments

... What LaRouche has set forth, nothing more nor less, is what is required ...
 Quoting: Aussie from Perth


horn worship worship worship whip hitler
susano

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09/02/2007 12:23 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
bump
Sirius Dog

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09/02/2007 12:37 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Well I guess thats gonna put a damper on the holidays shopping!



Seems it already has.

Walmart, Home Depot, Now Sears: U.S. Retail Sales Collapsing

August 31, 2007 (LPAC)--Offering steep discounts didn't stop sales falling for the second quarter this year at two more big discount chains in the U.S. On August 30, Sears announced that its sales had fallen 4.3% in the last quarter, and that Kmart's fell by 3.8 percent. As a result, Sears profits fell by 40% in the quarter, the second quarter in a row they declined.

Two other retail chains directed at America's lower 80%, Walmart and Home Depot, announced their sales had declined two weeks earlier.

So much for billionaire hedge fund honcho Edward Lampert's promise when he merged Kmart and Sears Roebuck Co. in March 2005, that he would generate great profits for its shareholders by cutting costs and jobs.



Bank of England Helicopters Inject Massive Liquidity into Barclays Bank



August 31, 2007 (LPAC)--The Bank of England was forced to pump an emergency 1.6 billion pounds ($3.2 billion dollars) into one single bank yesterday, as the bankrupt financial system proved once again as dry as Greek forests these days.

When it was then reported that that bank was Barclays, which had already borrowed from the Bank of England's emergency window this month, Barclays managers put out the unbelievable story that they don't have any financial difficulties, but only borrowed such a huge amount of money at a "penalty" short-term interest rate of 6.75%, to handle a "technical breakdown in the system used to clear and settle money-market transactions" on August 29.

Barclays then announced today that it had just injected $1.6 billion into the Cairn Capital hedge fund which it had helped set up, an amount which just happened to be half the amount borrowed from the Bank of England. Barclay's bailout kept the fund from launching a "fire sale" of its assets. Cairn is one of four exotic financing funds, called SIV-Lites, created by Barclays, which until this month merrily sold short-term commercial paper backed by worthless mortgages and car loans. Two of the four have already collapsed, and are selling their assets at a loss, and a third is about to follow suit. The Bank of England helped Barclays "save" one.



Standard & Poors Loses its Head

Aug. 31 (LPAC)--Top executives continue to resign from well paying jobs to "spend more time with their families." The latest is Kathleen Corbet, who has resigned from her top paying job as CEO of Standard & Poors, according to McGraw-Hill, S&P's owner. A spokesman for McGraw Hill told Bloomberg her resignation was not related to the obvious events of the last weeks. She will be replaced by Deven Sharma, vice president of investment services and global sales for S & P.


Freddie Mac Profits Collapse by 45%

Aug. 31, 2007 (LPAC)--The Chief executive officer of Freddie Mac, Richard Syron, said he had underestimated the scale of the housing mortgage crisis, as it was announced that the company posted a 45% decline in quarterly profits in the second quarter. Syron said defaults in its own portfolio, which DOES NOT include subprime mortgages, have risen sharply, driving up costs related to failing loans by 433% over last year to $336 million. "I was bearish," Syron was quoted by The Independent as saying, "but I was not bearish enough." Freddie's Chief Financial Officer Anthony Piszel told the Wall Street Urinal August 31 that they expect it will be forced to mark down the value of the securities it guarantees this quarter.

[link to www.larouchepac.com]
 Quoting: Aussie from Perth


Could it be that people have finally run out of space to store fucking junk, so they physically cannot buy anymore shit!
Aussie from Perth (OP)

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09/02/2007 02:48 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
So a crash is coming, people will agree.

Have a look around US politics at the moment???

Is there any other serious legislation or solution being proposed by ANYONE ELSE, which deals with a collapse of this nature, in existence and on the table right now?

Or


Will central bankers, with their brand of kindness and love, continue calling the shots when the shit hits the fan?
Cycle
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09/02/2007 03:08 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
11 september91 days after an omen of hindenberg, 55 days after a market ceiling, Tuesday, 3 days after an aspect negative Jupiter-sun, 3 days after Venus I pull back, ocurrira a solar eclipse in 18 degrees virgo with Mars in square, the end of a window puetz, a day 11 with possible terrorist implications.
The collapse can hiding that to happen poe that day if we go to.
Larouche is an opportunistic salesman with little credibility.
Cycle
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09/02/2007 03:47 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
It forgot to me, 11 spetiembre is New Moon, according to Chris Carolan a collapse is probable to happen 55 hours before a New Moon after eclipse.11 September is New Moon after the eclipse of the 28 of August.
WW RAUPP

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09/02/2007 04:45 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
LaRouche? Don't make me laugh.
To shape the world is to become immortal
Aussie from Perth (OP)

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09/02/2007 06:08 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
LaRouche? Don't make me laugh.
 Quoting: WW RAUPP


Speaking of a laugh.
Anonymous Coward
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09/02/2007 06:58 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
OP, you must consider the most important issue here. The war with Iran is an insurance for tptb. Like it or not and even the whole world against it they will push and then start this war. Because they know full well that this war is the only way to get them out of this mess. Iran can not expect Russia or China to back them up. These two countries will be devestated if US economy was to come down. As a result they will sit back and watch Iran be bombed to death and once again allow tptb to continue a few years further. Eventually a war with another country once every 2 years will keep them going and no doubt they will come up with another plan once this option has ran out.
Don't forget that these peole have total control over the economy and banking system. They have been planing this game fro 100s of years and do you really expect anyone to accept that the USA's economy is about to crash without these people wanting to? Its just not possible.
Did you know that the famin in Africa in the 80's was all planned?
WW RAUPP

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09/02/2007 08:20 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Speaking of a laugh.
 Quoting: Aussie from Perth


Amazing you still believe in all the shit LaRouche writes
To shape the world is to become immortal
Aussie from Perth (OP)

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09/02/2007 09:07 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
OP, you must consider the most important issue here. The war with Iran is an insurance for tptb. Like it or not and even the whole world against it they will push and then start this war. Because they know full well that this war is the only way to get them out of this mess. Iran can not expect Russia or China to back them up. These two countries will be devestated if US economy was to come down. As a result they will sit back and watch Iran be bombed to death and once again allow tptb to continue a few years further. Eventually a war with another country once every 2 years will keep them going and no doubt they will come up with another plan once this option has ran out.
Don't forget that these peole have total control over the economy and banking system. They have been planing this game fro 100s of years and do you really expect anyone to accept that the USA's economy is about to crash without these people wanting to? Its just not possible.
Did you know that the famin in Africa in the 80's was all planned?
 Quoting: Anonymous Coward 276706



The famin? , you mean NSSM200 and food control being used as a weapon and form of genocide? Yep, i do.:-)

A war with Iran ensures chaos and global instability. Yes i am aware of the big picture here. Their insurance policy is the HOPE of preventing mutual co-operation among nations on a global level through political instability. Wars would start all over the place. The chances of nations coming together, and having something similar to a New Bretton Woods come about would be far more difficult to achieve. This is where Russian, Chinese and Indian co-operation with the US is of prime importance.

Prevent such nations coming together in the form of a new financial treaty, must be prevented ...that's the big picture. If that happens, it's the end of British system.

It's the only way for them to keep control. Hence a possible war with Iran.

This "crowd" you speak?

Was this the same people and crowd who had "total control over the economy and banking system", as back in the days of FDR? History is a lesson for us all.

The chances of "them" crashing the US economy, ( via careful planning ) and leaving the rest of the world standing??? ... if that is their plan, they fucked up real bad. You give them to much credit.

....the crisis is global and no longer just a US problem.

It goes way back, far longer than a hundred years, and yes they have f*cked up plenty of times before.
Aussie from Perth (OP)

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09/02/2007 09:11 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Speaking of a laugh.

Amazing you still believe in all the shit LaRouche writes
 Quoting: WW RAUPP



Your opinion, in light of recent events, carries about as much weight as my first pubic hair.
Aussie from Perth (OP)

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09/02/2007 09:17 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
From audio link above.

Transcript:

The Emergency Message to the Nation

Lyndon H. LaRouche, Jr.
September 1, 2007

This is Lyndon LaRouche speaking. We are faced with the greatest financial crisis, globally, which has been known to humanity in centuries. This goes far beyond the experience of the immediate period following the World War, such as the Great Depression of 1930s, but we can handle it.

The problem is, right now, that the President of the United States, the office which should have taken leadership in preparing to defend our nation against the most terrible depression in memory, which is now oncoming, requires us to take special measures, through other agencies, to protect the American people, and other things, until the time that we can get the kind of reform we need to get out of this.

Our immediate concern must be to save the United States from being destroyed, and that is really a possibility, by what is now oncoming. This is the greatest financial collapse, of a form similar to what happened in Germany in 1923, that we have known in living history of our time. In my time, as well as yours.

However, we can handle this problem. It requires mobilization of the Congress, to take an action which will create the equivalent of a firewall against the destruction of essential economy, and of the lives of our people. That can be done. It must be done by the Congress within the month of September.

There is a certain amount of receptiveness to the idea of doing something about this, growing and spreading within the Congress, and elsewhere. That's there.

I've produced a piece of proposed conception of legislation, which will do the job. I have proposed legislation by the Federal government, which will go into emergency implementation, which must be passed within the month of September, because the month of October is enormously dangerous: We dare not risk proposing anything beyond the early part of September. The action must occur by both Houses within September, as emergency legislation, with sufficient support from both Republicans and Democrats in those bodies, to create a bill which will resist a Presidential veto, a veto-proof bill.

If we do that, we may find a depression hitting us in October, which will be far worse than that of 1929-1933. But! If we protect our banks, even if they're bankrupt, and if we protect our homeowners, so none of them are evicted because of this crisis, then, in the month of October and later, we can clean up the mess, and start the process of a general recovery. We need to mobilize to do that.

This is Lyndon LaRouche: Thank you.


[link to www.larouchepac.com]

Last Edited by theDtrain on 10/21/2011 03:56 PM
113333

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09/02/2007 09:44 AM

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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Aussie from Perth (OP)

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09/02/2007 09:56 AM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Some essential crust to the matter at hand.

Debt Is Not An Asset
By John Hoefle

[link to www.larouchepac.com]
Uncle Fuck Stick
WAKE THE FUCK UP !!!!!!!!

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11/17/2013 08:29 PM

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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
s226
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11/17/2013 08:32 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Watch LaRouche speeches and read LaRouche writings from a year ago, and two years ago, and three years ago. You will notice a pattern of very dire doom predictions. None of them came true. Believe this one if you want but it might suggest a low intelligence level on your part.
Anonymous Coward
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11/17/2013 08:36 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Bush's conference dealing with the mortgage crisis, has no doubt left many with a feeling of unease.

The tension mounts.


LaRouche's Homeowner and Bank Protection Act of 2007 needed immediately with No Amendments

[link to www.larouchepac.com]



Lyndon LaRouche announced yesterday that he will be recording a message to the American people on Saturday in which he will spell out precisely what must be done in the face of the biggest crash in modern history. Referring to the Homeowners and Bank Protection Act of 2007, which he has designed, LaRouche said that if we don't pass this legislation, there will be no protection against what will hit the nation soon. What he has set forth is the one and only program capable of addressing the crisis. No other proposals or amendments to his program will succeed. Any other agenda should be cancelled. With LaRouche's program, when the crash comes we will still be standing. When the storm ends homeowners and federal and state chartered banks will still be standing. There are no other options. What LaRouche has set forth, nothing more nor less, is what is required.
 Quoting: Aussie from Perth


Please research Brendon LeRouche's background, it will interest you.
Art Carney

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11/17/2013 08:50 PM

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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
LaRouche is a con man and saying this same shit years now, just keep changing the date.....
Anonymous Coward
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11/17/2013 10:17 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
Yo Art,if the Feds wouldn't have bailed out the banks to the tune of god knows how many trillions of dollars we WOULD have crashed so STFU SHILL!!!!!!!!!!!
xtcsso

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11/17/2013 10:19 PM

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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
so none of you tard realise this post was from 2007?no?
xtcsso
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11/17/2013 10:21 PM
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Re: LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"
so none of you tard realise this post was from 2007?no?
 Quoting: xtcsso


No I didn't notice that because I didn't read it. All of his predictions sound the same so there is no point in reading them.

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