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The Great Depression of the 21st Century: Collapse of the Real Economy

 
Wasayo
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11/17/2008 02:00 PM
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The Great Depression of the 21st Century: Collapse of the Real Economy
The Great Depression of the 21st Century: Collapse of the Real Economy


By Michel Chossudovsky

Global Research, November 15, 2008


The financial crisis is deepening, with the risk of seriously disrupting the system of international payments.

This crisis is far more serious than the Great Depression. All major sectors of the global economy are affected. Recent reports suggest that the system of Letters of Credit as well as international shipping, which constitute the lifeline of the international trading system, are potentially in jeopardy.

The proposed bank "bailout" under the so-called Troubled Asset Relief Program (TARP) is not a "solution" to the crisis but the "cause" of further collapse.

The "bailout" contributes to a further process of destabilization of the financial architecture. It transfers large amounts of public money, at taxpayers expense, into the hands of private financiers. It leads to a spiraling public debt and an unprecedented centralization of banking power. Moreover, the bailout money is used by the financial giants to secure corporate acquisitions both in the financial sector and the real economy.

In turn, this unprecedented concentration of financial power spearheads entire sectors of industry and the services economy into bankruptcy, leading to the layoff of tens of thousands of workers.

The upper spheres of Wall Street overshadow the real economy. The accumulation of large amounts of money wealth by a handful of Wall Street conglomerates and their associated hedge funds is reinvested in the acquisition of real assets.

Paper wealth is transformed into the ownership and control of real productive assets, including industry, services, natural resources, infrastructure, etc.

Collapse of Consumer Demand

The real economy is in crisis. The resulting increase in unemployment is conducive to a dramatic decline in consumer spending which in turn backlashes on the levels of production of goods and services.

Exacerbated by neoliberal macro-economic policy, this downward spiral is cumulative, ultimately leading to an oversupply of commodities.

Business enterprises cannot sell their products, because workers have been laid off. Consumers, namely working people, have been deprived of the purchasing power required to fuel economic growth. With their meager earnings, they cannot afford to acquire the goods produced.

Overproduction Triggers a String of Bankruptcies

Inventories of unsold goods pile up. Eventually, production collapses; the supply of commodities declines through the closing down of production facilities, including manufacturing assembly plants.

In the process of plant closure, more workers become unemployed. Thousands of bankrupt firms are driven off the economic landscape, leading to a slump in production.

Mass poverty and a Worldwide decline in living standards is the result of low wages and mass unemployment. It is the outcome of a preexisting global cheap labor economy, largely characterized by low wage assembly plants in Third World countries.

The current crisis extends the geographic contours of the cheap labor economy, leading to the impoverishment of large sectors of the population in the so-called developed countries (including the middle classes).

In the US, Canada and Western Europe, the entire industrial sector is potentially in jeopardy.

We are dealing with a long-term process of economic and financial restructuring. In its earlier phase, starting in the 1980s during the Reagan Thatcher era, local and regional level enterprises, family farms and small businesses were displaced and destroyed. In turn, the merger and acquisition boom of the 1990s led to the concurrent consolidation of large corporate entities both in the real economy as well as in banking and financial services.

In recent developments, however, the concentration of bank power has been at the expense of big business.

What is distinct in this particular phase of the crisis, is the ability of the financial giants (through their overriding control over credit) not only to create havoc in the production of goods and services, but also to undermine and destroy large corporate entities of the real economy.

Bankruptcies are occurring in all major sectors of activity: Manufacturing, telecoms, consumer retail outlets, shopping malls, airlines, hotels and tourism, not to mention real estate and the construction industry, victims of the subprime mortgage meltdown.

General Motors has confirmed that "it could run out of cash within a few months, which could prompt one of the biggest bankruptcy filings in U.S. history". (USNews.com, November 11, 2008)) In turn this would backlash on a string of related industries. Estimates of job losses in the US auto industry range from 30,000 to as much as 100,000.(Ibid).

Collapse of General Motors Share Price

In the US, consumer retail companies are in difficulty: the share prices of JC Penney and Nordstrom department store chains have collapsed. Circuit City Stores Inc. filed for Chapter 11 protection. The shares of Best Buy, the electronics retail chain, have plunged.

The Vodafone Group PLC, the world's biggest mobile phone company not to mention InterContinental Hotels PLC are in difficulty, following the collapse of stock values. (AP, Nov 12, 2008). Worldwide, over two dozen airlines have gone under in 2008, adding to a string of airline bankruptcies in the course of the last five years. (Aviation and Aerospace News, 30 October 2008). Denmark's Second commercial airline Stirling has declared bankruptcy. In the US, a growing list of real estate companies have already filed for bankruptcy protection.

Vodophone. Collapse of Share Price

InterContinental Hotels PLC

In the last two months, there have been numerous plant closures across America leading to the permanent layoff of tens of thousands of workers. These closures have affected several key areas of economic activity including the pharmaceutical and chemical industries, the automobile industry and related sectors, the services economy, etc.

[link to www.globalresearch.ca]

Last Edited by theDtrain on 10/23/2011 11:15 AM
"Every word of God is pure: He is a shield unto them that put their trust in Him." Prov. 30:5
acolyte nli
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11/17/2008 02:09 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Good post Wasayo ... its buckle up time :)
Anonymous Coward
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11/17/2008 02:50 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Fucking commies at it again.
Omega

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11/17/2008 02:52 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
bump

BTW Thanks for all your help Wasayo. ;>) That was very informative and useful.
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
Ghostsister
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11/17/2008 02:58 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
There's no denying it anymore... real doom ahead.

Or is it?

So, we're forced to focus on our immediate communitites. Work together to sustain the whole. Rely on our inner strength. Become more compassionate. Learn about Civics and become more involved. Refocus on our own country instead of spreading our selves around the globe.

The alternative is certainly a possibility but I believe in humanity and the direction our collective will go...

Short term pain for long term freedom.

We'll just have to break free of our attachments.
Anonymous Coward
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11/17/2008 03:18 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Springtime would have been better for feeding the homeless and/or needy.
Wasayo (OP)

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11/17/2008 03:22 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
bump

BTW Thanks for all your help Wasayo. ;>) That was very informative and useful.
 Quoting: Omega



Thanks to YOU, Omega... for your help too! You are one amazing Alpha Male, and that's for real! (wink)

Also, thank you GLP ~ for the pin!

My husband Magi read this article, and we are sending it to our attorney (who now is a believer that financial doom is really happening)... and to other friends of ours.

I've been warning of this worldwide financial crash ~ Pluto in Capricorn ~ since December of 2007. Omega, Walker-Talker, Lester, Underground Dude ~ many have warned far better than I did. It's heartening to now see that some who denied... are now awake and lissening-up.

It is SHOWTIME & CHECKMATE... here and now.

xoxoxoxoxo, Omega
Wasayo
"Every word of God is pure: He is a shield unto them that put their trust in Him." Prov. 30:5
Wasayo (OP)

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11/17/2008 03:27 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
There's no denying it anymore... real doom ahead.

Or is it?

So, we're forced to focus on our immediate communitites. Work together to sustain the whole. Rely on our inner strength. Become more compassionate. Learn about Civics and become more involved. Refocus on our own country instead of spreading our selves around the globe.

The alternative is certainly a possibility but I believe in humanity and the direction our collective will go...

Short term pain for long term freedom.

We'll just have to break free of our attachments.
 Quoting: Ghostsister 480242



Dear Ghostsister,

Glad to see you here! Yes indeed, there is real doom ahead and we are going down the railroad track like a runaway train. There IS no way to deny it now.

I do believe human beings will be living a far simpler, more back-to-the-basics lifestyle after this crash/war/financial decimation is over. This will be good for us, in every way ~ getting rid of the illusions, the "I-want-it, I-want-it-now" mentality.

But, before it is over... there will be huge pain and many will die because they are not prepared and refuse to know... refuse to look at what Real Life is telling them.

Sure, there will be light at the end of the tunnel ~ but it is a very long and arduous tunnel, like the wracking angst of the birthing process ~ and only the strong will survive. Blessings, Wasayo
"Every word of God is pure: He is a shield unto them that put their trust in Him." Prov. 30:5
Anonymous Coward
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11/17/2008 03:31 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
the bad money drives out the good money.
bretton woods 1971.
simple really.
many here saw it coming like a train on tracks.
message in a bottle
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11/17/2008 03:42 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
The Great Depression of the 21st Century: Collapse of the Real Economy


By Michel Chossudovsky

Global Research, November 15, 2008


The financial crisis is deepening, with the risk of seriously disrupting the system of international payments.

This crisis is far more serious than the Great Depression. All major sectors of the global economy are affected. Recent reports suggest that the system of Letters of Credit as well as international shipping, which constitute the lifeline of the international trading system, are potentially in jeopardy.

The proposed bank "bailout" under the so-called Troubled Asset Relief Program (TARP) is not a "solution" to the crisis but the "cause" of further collapse.

The "bailout" contributes to a further process of destabilization of the financial architecture. It transfers large amounts of public money, at taxpayers expense, into the hands of private financiers. It leads to a spiraling public debt and an unprecedented centralization of banking power. Moreover, the bailout money is used by the financial giants to secure corporate acquisitions both in the financial sector and the real economy.

In turn, this unprecedented concentration of financial power spearheads entire sectors of industry and the services economy into bankruptcy, leading to the layoff of tens of thousands of workers.

The upper spheres of Wall Street overshadow the real economy. The accumulation of large amounts of money wealth by a handful of Wall Street conglomerates and their associated hedge funds is reinvested in the acquisition of real assets.

Paper wealth is transformed into the ownership and control of real productive assets, including industry, services, natural resources, infrastructure, etc.

Collapse of Consumer Demand

The real economy is in crisis. The resulting increase in unemployment is conducive to a dramatic decline in consumer spending which in turn backlashes on the levels of production of goods and services.

Exacerbated by neoliberal macro-economic policy, this downward spiral is cumulative, ultimately leading to an oversupply of commodities.

Business enterprises cannot sell their products, because workers have been laid off. Consumers, namely working people, have been deprived of the purchasing power required to fuel economic growth. With their meager earnings, they cannot afford to acquire the goods produced.

Overproduction Triggers a String of Bankruptcies

Inventories of unsold goods pile up. Eventually, production collapses; the supply of commodities declines through the closing down of production facilities, including manufacturing assembly plants.

In the process of plant closure, more workers become unemployed. Thousands of bankrupt firms are driven off the economic landscape, leading to a slump in production.

Mass poverty and a Worldwide decline in living standards is the result of low wages and mass unemployment. It is the outcome of a preexisting global cheap labor economy, largely characterized by low wage assembly plants in Third World countries.

The current crisis extends the geographic contours of the cheap labor economy, leading to the impoverishment of large sectors of the population in the so-called developed countries (including the middle classes).

In the US, Canada and Western Europe, the entire industrial sector is potentially in jeopardy.

We are dealing with a long-term process of economic and financial restructuring. In its earlier phase, starting in the 1980s during the Reagan Thatcher era, local and regional level enterprises, family farms and small businesses were displaced and destroyed. In turn, the merger and acquisition boom of the 1990s led to the concurrent consolidation of large corporate entities both in the real economy as well as in banking and financial services.

In recent developments, however, the concentration of bank power has been at the expense of big business.

What is distinct in this particular phase of the crisis, is the ability of the financial giants (through their overriding control over credit) not only to create havoc in the production of goods and services, but also to undermine and destroy large corporate entities of the real economy.

Bankruptcies are occurring in all major sectors of activity: Manufacturing, telecoms, consumer retail outlets, shopping malls, airlines, hotels and tourism, not to mention real estate and the construction industry, victims of the subprime mortgage meltdown.

General Motors has confirmed that "it could run out of cash within a few months, which could prompt one of the biggest bankruptcy filings in U.S. history". (USNews.com, November 11, 2008)) In turn this would backlash on a string of related industries. Estimates of job losses in the US auto industry range from 30,000 to as much as 100,000.(Ibid).

Collapse of General Motors Share Price

In the US, consumer retail companies are in difficulty: the share prices of JC Penney and Nordstrom department store chains have collapsed. Circuit City Stores Inc. filed for Chapter 11 protection. The shares of Best Buy, the electronics retail chain, have plunged.

The Vodafone Group PLC, the world's biggest mobile phone company not to mention InterContinental Hotels PLC are in difficulty, following the collapse of stock values. (AP, Nov 12, 2008). Worldwide, over two dozen airlines have gone under in 2008, adding to a string of airline bankruptcies in the course of the last five years. (Aviation and Aerospace News, 30 October 2008). Denmark's Second commercial airline Stirling has declared bankruptcy. In the US, a growing list of real estate companies have already filed for bankruptcy protection.

Vodophone. Collapse of Share Price

InterContinental Hotels PLC

In the last two months, there have been numerous plant closures across America leading to the permanent layoff of tens of thousands of workers. These closures have affected several key areas of economic activity including the pharmaceutical and chemical industries, the automobile industry and related sectors, the services economy, etc.

US factory orders have declined dramatically. Research firm Autodata reported in October that "sales of cars and light trucks in September had declined 27 percent compared with a year earlier."(Washington Post, October 3, 2008)

Unemployment

According to the US Bureau of Labor Statistics, an additional 240,000 jobs were lost during the month of October alone:

"Nonfarm payroll employment fell by 240,000 in October, and the unemployment rate rose from 6.1 to 6.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. October's drop in payroll employment followed declines of 127,000 in August and 284,000 in September, as revised. Employment has fallen by 1.2 million in the first 10 months of 2008; over half of the decrease has occurred in the past 3 months. In October, job losses continued in manufacturing, construction, and several service-providing industries...

Among the unemployed, the number of persons who lost their job and did not expect to be recalled to work rose by 615,000 to 4.4 million in October. Over the past 12 months, the size of this group has increased by 1.7 million." (Bureau of Labor Statistics, November, 2008)

The official figures do not describe the seriousness of the crisis and its devastating impact on the labor market, since many of the job losses are not reported.

The situation in the European Union is equally disturbing. A recent British report points to the potential plight of mass unemployment in North Eastern England. In Germany, a report published in October, suggests that 10-15% of all automotive jobs in Germany could be lost.

Job cuts have also been announced at General Motors and Nissan-Renault plants in Spain. Sales of new cars in Spain plummeted by 40 percent in October in relation to sales in the same month last year.

Workers of Nissan automaker protest in front of the Japanese company's building in Barcelona (AFP)

Bankruptcies and Foreclosures: A Money-spinning Operation for the Financial Giants

Among the companies on the verge of bankruptcy are some highly lucrative and profitable operations. The important question: who takes over the ownership of bankrupt giant industrial corporations?

Bankruptcies and foreclosures are a money-spinning operation. With the collapse in stock market values, listed companies experience a major collapse of the price of their stock, which immediately affects their creditworthiness and their ability to borrow and/ or to renegotiate debts ( which are based on the quoted value of their assets).

The institutional speculators, the hedge funds, et al have cashed in on their windfall loot.

They trigger the collapse of listed companies through short selling and other speculative operations. They then cash in on their large scale speculative gains.

According to a report in the Financial Times, there is evidence that the plunge of the US automobile industry was in part the result of manipulation: "General Motors and Ford lost 31 per cent to $3.01 and 10.9 per cent to $1.80 despite hopes that Washington may save the industry from the brink of collapse. The fall came after Deutsche Bank set a price target of zero on GM." (FT, November 14, 2008, emphasis added)

The financiers are on a shopping-spree. America's Forbes 400 billionaires are waiting in limbo.

Once they have consolidated their position in the banking industry, the financial giants including JP Morgan Chase, Bank of America, et al will use their windfall money gains and bailout money provided under TARP, to further extend their control over the real economy.

The next step consists in transforming liquid assets, namely money paper wealth, into the acquisition of real economy assets.

In this regard, Warren Buffett's Berkshire Hathaway Inc. is a major shareholder of General Motors. More recently, following the collapse in stock values in October and November, Buffett boosted his stake in oil producer ConocoPhillips, not to mention Eaton Corp, whose price on the NYSE tumbled by 62% in relation to its December 2007 high (Bloomberg).

The target of these acquisitions are the numerous highly productive industrial and services sector companies, which are on the verge of bankruptcy and/or whose stock values have collapsed.

The money managers are picking up the pieces.

Ownership of the Real Economy

As a result of these developments, which are directly related to the financial meltdown, the entire ownership structure of real economy assets is in turmoil.

Paper wealth accumulated through insider trading and stock market manipulation is used to acquire control over real economic assets, displacing the preexisting ownership structures.

What we are dealing with is an unsavory relationship between the real economy and the financial sector. The financial conglomerates do not produce commodities. They essentially make money through the conduct of financial transactions. They use the proceeds of these transactions to take over bona fide real economy corporations which produce goods and services for household consumption.

In a bitter twist, the new owners of industry are the institutional speculators and financial manipulators. They are becoming the new captains of industry, displacing not only the preexisting structures of ownership but also instating their cronies in the seats of corporate management.

No Reform Possible under the Washington-Wall Street Consensus

The November 15 G-20 Financial Summit in Washington upholds the Washington-Wall Street consensus.

While formally presenting a project to restore financial stability, in practice, the hegemony of Wall Street remains unscathed. The tendency is towards a unipolar monetary system dominated by the United States and upheld by US military superiority.

The architects of financial disaster under the 1999 Gramm-Leach-Bliley Financial Services Modernization Act (FSMA) have been entrusted with the task of mitigating the crisis, which they themselves created. They are the cause of financial collapse.

The G20 Financial Summit doesn't question the legitimacy of the hedge funds and the various instruments of derivative trade. The final Communiqué includes an imprecise and blurred commitment "to better regulate hedge funds and create more transparency in mortgage-related securities in a bid to halt a global economic slide."

A solution to this crisis can only be brought about through a process of "financial disarmament", which forcefully challenges the hegemony of the Wall Street financial institutions including their control over monetary policy. "Financial disarmament" would also require freezing the instruments of speculative trade, dismantling the hedge funds and democratizing monetary policy. The term "financial disarmament" was initially coined by John Maynard Keynes in the 1940s.

Obama Endorses Financial Deregulation

Barack Obama has embraced the Washington-Wall Street consensus. In a bitter twist, former Congressman Jim Leach, a Republican who sponsored the 1999 FSMA in the House of Representatives is now advising Obama on formulating a timely solution to the crisis.

Jim Leach

Jim Leach, Madeleine Albright and former Treasury Secretary Larry Summers, who also played a key role in pushing through the FSMA legislation, were in attendance at the November 15 G-20 Financial Summit, as part of President-elect Barack Obama's advisory team:

"President-elect Barack Obama and Vice President-elect Joe Biden announced that former Secretary of State Madeleine Albright and former Republican Congressman Jim Leach would be available to meet with delegations at the G-20 summit on their behalf. Leach and Albright are holding these unofficial meetings to seek input from visiting delegations on behalf of the president-elect and vice president-elect. (mlive.com, November 15, 2008)


[link to www.globalresearch.ca]
 Quoting: Wasayo
I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE
Ghostsister
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11/17/2008 03:56 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Yes indeed, there is real doom ahead and we are going down the railroad track like a runaway train.

Blessings, Wasayo
 Quoting: Wasayo



LOL... yup.

I'm not convinced the transition will cause total destruction and massive deaths, though.

Struggle, angst, fear, breaking down, rebuilding, all building to anger then release.

That will probably be the general pattern.

But there will also be another pattern of people becoming more aware. Of themselves, their communities, our connections and morality.

We'll all have to opportunity to do good because there will be so many in need. It's likely more and more people will notice just how far off track our society was. There may possibly be an actual 'shift' in our paradigm.

I just know we are not meant to be slaves and only good will come of all of this.
Wasayo nli
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11/17/2008 04:29 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Yes indeed, there is real doom ahead and we are going down the railroad track like a runaway train.

Blessings, Wasayo



LOL... yup.

I'm not convinced the transition will cause total destruction and massive deaths, though.

Struggle, angst, fear, breaking down, rebuilding, all building to anger then release.

That will probably be the general pattern.

But there will also be another pattern of people becoming more aware. Of themselves, their communities, our connections and morality.

We'll all have to opportunity to do good because there will be so many in need. It's likely more and more people will notice just how far off track our society was. There may possibly be an actual 'shift' in our paradigm.

I just know we are not meant to be slaves and only good will come of all of this.
 Quoting: Ghostsister 480242



Dear Ghostsister,

With all my heart, I hope you are right. Your viewpoint is the most optimistic one.

But, as is all-too-apparent ~ humanity has a very dark side too. In all probability, there will be riots, wars, and God knows what all if the GLOBAL financial system totally collapses.

Real life seems to encompass both polarities ~ good and bad. This is reality. Hard times bring out either in people.

I hope your commune idea works. Communes can be great, if everyone involved works ~ and no ones wants to do nothing because he or she is an artist. This was a killer to many communes in the '60's and '70's. Barter is an excellent idea too. Survival food, preps, and gear (including guns) are beyond important.

It's good to dream, but to use an old country saying ~ "Prepare for the worst, and expect the best". Sincerely, Wasayo
Wasayo (OP)

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11/17/2008 04:32 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
"I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE" [Quoting messageinabottle]


Dear messageinabottle/lightson,

Thank you for sharing this. I'd like to know more about it ~ and maybe lots of people on GLP might be interested too.

Can you tell us more... or do you have any internet links about it? Blessings, Wasayo
"Every word of God is pure: He is a shield unto them that put their trust in Him." Prov. 30:5
Wasayo (OP)

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11/17/2008 04:34 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
the bad money drives out the good money.
bretton woods 1971.
simple really.
many here saw it coming like a train on tracks.
 Quoting: Anonymous Coward 553197



Dear AC 553197,

You are SO right...

It's sad that so few listened ~ and so few now are waking up and listening. Blessings, Wasayo
"Every word of God is pure: He is a shield unto them that put their trust in Him." Prov. 30:5
Anonymous Coward
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11/17/2008 04:34 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Congratulations, Mr Boosh. You've redeemed the bad name of Hoover. You are now the Worst Ever President (WET).
Anonymous Coward
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11/17/2008 04:35 PM
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OOpsie WEP
Ghostsister
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11/17/2008 04:43 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
No, not commune, not by a long shot. Communities coming together and becoming strengthened out of necessity. That's far different.

We'll see. So much can happen... will be very interesting.
Frigg Stuyvesant

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11/17/2008 05:00 PM
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Awesome timely hard to argue!

Keep this shit coming.


Very good info..Makes me want to go now and continue preps.

Think I will..
Cui Bono?
Omega

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11/17/2008 05:02 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Awesome timely hard to argue!

Keep this shit coming.


Very good info..Makes me want to go now and continue preps.

Think I will..
 Quoting: Frigg Stuyvesant


Yeppers...
Handguns are a skill; shotguns an art; rifles a science.
_____________________________________
Democracy is two wolves and a sheep voting on whats for dinner.

Disarmament is the precursor to Genocide.

Better to take action now rather than chances later. Your choice.
message in a bottle
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11/17/2008 05:13 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
"I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE" [Quoting messageinabottle]


Dear messageinabottle/lightson,

Thank you for sharing this. I'd like to know more about it ~ and maybe lots of people on GLP might be interested too.

Can you tell us more... or do you have any internet links about it? Blessings, Wasayo
 Quoting: Wasayo
Dear wasayo,I have been screaming for some many yrs,I do apoligize that so many continue to use math in the verifacation of the djed bars that rised dec 21 2006.The stability of our world is at hands.This happen thousands of yrs ago your time,many billions of seed lines were put on hold.I have stated several times of the flag i had in my hands as the light of god shined to me,my 3rd eye activated as a stored seed of ballance.I do apoligize for my frequency problems of my ear of the poluted waters.. It apears i can read and interpit hieroglyphics as per carved in stone.Your nation traded hands several thousand yrs ago your time.By this time you can see the new faces around you as several nations are around you.Your hotels,your banks,your c-stores,This mountian is real,It makes adjustments in blood,and all living things of this earth in equall weights and ballance.I have camped this area for some 19 yrs of my life searching my roots.YOU CANNOT STABLE THE ECONOMY WITH OUT THE PERSON WHO RECEIVES THE LIGHT OF GOD.THE ONLY WAY THIS ECONOMY CAN STABBEL IS GATHER THE 22 LEADERS OF FAITH.THEY GOT THE STOCKS MIXED UP DEC 21 2006.THE EFECTS OF YOUR NATION CAME DEC 21 2006.YOU ARE JUST SEEING IT NOW,THIS COULD OF BEEN AVOIDED IF OUR LEADERS WOULD OF MET.THAT WAS THE MESSAGE DEC 21 2006 buy the person who received the light of god with witness.THAT SIMPLE WASAYO.The best advise i can give you is that.For the hawk has been my guide.The hawk came to me after god light,guiding me in places of great wisdom.These bars rize from mountian in sky,they split into wavy lines as you see carved in stone.This is real WASAYO.blessings to you UNITY PEACE FREEDOM lightson hf
koder

User ID: 538337
New Zealand
11/17/2008 05:16 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
OK - You all will have seen the Photos of Depression 1.0,
lots of long queues, with people standing for hours. Buy
Folding Chairs Now.
Enigma

User ID: 545562
United States
11/17/2008 05:28 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Very very soon...

we are going to have to decide between what is right and what is easy...
Matrix
User ID: 545313
Australia
11/17/2008 05:48 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
The carbon targets set for the next decades is going to shrink the economy anyway, so this is a for taste of what is yet to come.

The bankers put the debt out there to get the masses fully dependent on their industry for their society to function without savings(first by inflation), and now the bankers are removing the debt in hope that the masses have to trade in those expensive high interest goods/assets for a fraction of the price(and then by deflation). A whole section of society does not know how to save and budget, and now that the time has come for when those skills are needed most, the government is bailing out various industries to keep sheople digging themselves deeper and deeper instead of cutting them off and making them learn to live within their means. The longer this drags on, the more deflation that will occur, so instead of this Christmas getting out the credit card and continuing the slide, how about saving money instead?
LanMan
User ID: 402897
United States
11/17/2008 06:00 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Monopoly is an amoral capitalist game! The game ends when someone, or something, has control over everyone elses assets, including human assets, be they physical or mental, or both! Who, or what, will be in control at the end of the game is the question. Those who think themselves to be "wise in their own eyes" will soon begin to realize that their technological creation, their anthropomorphic deity in the form of Humanistic Artificial Intelligence, created in their image", will be far superior to humans at playing the amoral capitalist game of Monopoly! Quite possibly "it" already is!
message in a bottle
User ID: 547371
United States
11/17/2008 06:08 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Go tesla motors,go cambels soup,go mason jars,go green.Sometimes the leaves fall in different nations as we can see.Irony spoken over and over.No different than thousands of dust particals floating in the sky for a nation to try to fix.We see you see,sometimes the fall of the leaves make great fertilizer for the next generation,as we can see.Great mountian always get back in equal weight of the take,thats whats kept us going for thousands of years.Now its time to flap the other wing harder for the flight of true weights.The heart will be on the other side of the chest i will asure you.It must weigh equall peace to you my dear freind.Stay in nature throw your clocks away,many have magnetics in there bodys tuned to this event as we can see.Like a shark who feeds on the ocean floor in magnetics gasping for bait to keep alive.As our nation turns there are many who are feeding as you can see.The fall in rise of all nations has always been the who receives the light of god,just the way it is.as history we can see.Maybe next time around they have better comunications in the true definition of the bars that rise from great mountian in sky,me for one stay with the meek,as we can see many underdogs move forward so to speak.me for one would not allow a nation to take each other down as we can see.The great merge of the world leaders of faith would of been a great flight of truth for the united states of america,as many follow there faith.World problem cured in less than the cost to train one soldier in these thousands of yrs of sinceless wars.Me personaly i shed no tears,for my seed line has seen this comming for many yrs. For this is why i made the flag for my nation.For i'm only as good as who follows me as i move forward,although i need of no followers.For in god i do trust only.As the hawk has been my guide.
Anonymous Coward
User ID: 476538
United States
11/17/2008 06:14 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
Fucking commies at it again.
 Quoting: Anonymous Coward 548795

cheers
Frank Roosevelt
User ID: 553286
United States
11/17/2008 06:28 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
I don't see what the big fuss is all about.

Subsidized housing through section 8 and other govt programs, and food stamps, and subsidized daycare mean no worries for all.
Anonymous Coward
User ID: 225509
United States
11/17/2008 06:49 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
"I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE" [Quoting messageinabottle]


Dear messageinabottle/lightson,

Thank you for sharing this. I'd like to know more about it ~ and maybe lots of people on GLP might be interested too.

Can you tell us more... or do you have any internet links about it? Blessings, Wasayo
 Quoting: Wasayo



In 1920 Tesla had invented and tested WIRELESS Electric current (AC variety) that could be broadcast to an ANTIGRAVITY FLYING platform.

No shit.

Source: [link to www.blogtalkradio.com]
message in a bottle
User ID: 547371
United States
11/17/2008 07:54 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
"I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE" [Quoting messageinabottle]


Dear messageinabottle/lightson,

Thank you for sharing this. I'd like to know more about it ~ and maybe lots of people on GLP might be interested too.

Can you tell us more... or do you have any internet links about it? Blessings, Wasayo



In 1920 Tesla had invented and tested WIRELESS Electric current (AC variety) that could be broadcast to an ANTIGRAVITY FLYING platform.

No shit.

Source: [link to www.blogtalkradio.com]
 Quoting: Anonymous Coward 225509
Millions of yrs ago there was light,then who got got light became the universal one at that time,as we can see many who have got god light,as history repeats,no comunications of this earth and all satilights combined have better comunication than the spine of who gets god light,as we can see,and as per carved in stone.The light of god will release it from the bottom of your spine as we can see carved in stone.That is the true comunications of the great pyrimad as we see carved in stone.That spine has no lies in the truth of the feather.For in my hands was a flag it reads unity peace freedom.For that flag to is carved in stone.I created that flag,fir i'm still in a incomplete stage as i prepair the 3rd flag,i must add the two triangels.Go tesla motors now!!!! 0-to-60-in less than 5 secounds no gas.You first get god light then you see,When your spine is releast through your eye,it travels in a sheild you see the begining and the ending alfa mega.DJED BARS the person who receives the light of god sees the bars rise as we see carved in stone.That person also sees great mountian in sky,that person when they close there eyes sees the time capsules,i have seen all these things,then i came to internet and seen it all carved in stone,i trully have been rebirth in the light of god.Dec 21 2006 i banged the stocks in the ground,next to the stocks was a cain i had,next to the cain was a conue i was packing,next to my conue was my flag,next to all these things was a pole on a levee,also peace pipes from the great suns mound natchez miss,also a door mat for two people at a time to wipe there feet off before the great mountian in sky,also my bow case it reads roots as i have been in search for many yrs.With my bow in hand i could shoot and mark the corners of the great rock in sky,i seen the pentigon shape with me,LOCATION BLACK HAWK RED RIVER WERE THE FOUR GREAT RIVERS MEET.I have been guided by the great hawk falcon and eagle.Rebirth in this light i scream my nation here of my words.To gather the 22 leaders of faith cost less to train one soldier in these thousands of years of sinceless wars.For there are 13 roots of this tree on this flag it represents the great tribes of our world,on the other side is all the nations flags,as all nations follow there faith,the keys to the abyss this flag has,its timming on your clock a master peice for discovery,for my body and flag i held high as the djed bars rised,it was only then i knew the power of the light of god.in god i do trust only.ATT PRESIDENT ELECT BARACK DEC 21 2006.I remain TAH lightson.
falldown

User ID: 520470
United States
11/17/2008 08:12 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
OK - You all will have seen the Photos of Depression 1.0,
lots of long queues, with people standing for hours. Buy
Folding Chairs Now.
 Quoting: koder

Best to do whatever you can to avoid those long soup kitchen lines. I've been helping out at a food bank for some time now, and while we used to have an odd item here and there that was on recall lists, today it's bags of food.

I don't know how people think they're helping by donating recalled food, and some of it makes me really sick (we got a ton of recalled formula when the baby/melamine thing hit the news). Maybe some people are just sick in the head, some are probably clueless, but regardless, we put a lot of effort into making sure our patrons don't end up worse off by getting bad food.

I hope that holds true for similar places, but I don't know that I'd stake my life on it. And we can check the food, and our "customers" can double check at home, too. You don't get the same benefit at a soup kitchen with prepared meals.

It's even scarier when you realize that soup kitchens tend to get donations of bulk food from some pretty low-cost vendors, often the stuff about to expire, some past it's best-buy date, but not expired, and so on. Considering that regular people seem to have no problem donating dangerous food, I shudder to think what some of those companies might be distributing.

If you can, prepare as much as you can to provide your own food. Not only does this allow more for those who don't have the option, but it's probably the much safer bet. Not just storing food, do what you can to become a good producer, for the long term.

Because when times get desperate, the pressure to hand out those questionable goods will go up substantially, and you don't want to be on the receiving end of that "help".

And if you're already receiving a helping hand, please check your goods to make sure something didn't get missed.
~
~
"He who does not understand your silence will probably not understand your words." ~Elbert Hubbard
Anonymous Coward
User ID: 546868
United States
11/17/2008 10:04 PM
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Re: The Great Depression of the 21st Century: Collapse of the Real Economy
"I can lead a bunch of horses to water,but i can not make them drink.TESLA MOTORS ELECTROMAGNETIC LEVITATION<>LIGHT ACTIVATION^DJED ETERNAL LIGHT><DEC 21 2006,DJED STABILLITY WEIGHTS AND BALLANCE>< PEACE" [Quoting messageinabottle]


Dear messageinabottle/lightson,

Thank you for sharing this. I'd like to know more about it ~ and maybe lots of people on GLP might be interested too.

Can you tell us more... or do you have any internet links about it? Blessings, Wasayo



In 1920 Tesla had invented and tested WIRELESS Electric current (AC variety) that could be broadcast to an ANTIGRAVITY FLYING platform.

No shit.

Source: [link to www.blogtalkradio.com]
 Quoting: Anonymous Coward 225509


Interesting thing happened.. He got more electricity back than he sent..

News








We're dropping truth bombs like it's the end of days!