Sicilianthing

Tighten your belts... 2nd quarter data is dismal... only you wont hear about it for a bit longer.
I really hope for traction but I'm not convinced.
Anyone?

Patty

For an official recession it is defined by 2 neg GDP quarters in a row. It is unavoidable and if they try to skew the numbers to positive they will be the laughing stock of the world. One thing is for sure next quarter will begin a new official recession.

the waker Loc: 11th freest nation

What are you talking about? The stockmarket is the highest its ever been,and the president just said last week " Americans have never had it so good". What is wrong w/.....nahhh just kidding, had you going right. No we re in trouble,big time.

Break out the pumps boys, if were gonna get these numbers to float were going to be here all night?

Ve'hoe

The best news is, at LEAST we dont have an invasion on our southern border, and PEACE is about to break out in the middle east!!

F_N-AAAAAAA!! Baby

Patty

Nah I knew you were smarter than that.


:wink: Seems we lose another USD trade user every day today it is the entire European Union.
"Today in Brussels the French Finance Minister, Michel Sapin, will start a debate with his EU counterparts on how the European Union can reduce its dependency on the U.S. dollar. Should the discussion find traction it may contribute to the ongoing monumental shift in global monetary economics with the gradual decline of the dollar as the global reserve currency.

Mr Sapin said in an interview with The Financial Times, “We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don’t think so. I think a rebalancing is possible and necessary, not just regarding the euro but also for the big currencies of the emerging countries, which account for more and more of global trade.”

The U.S. dollar has enjoyed reserve currency status for most of the past 70 years. This status confers enormous power to the dollar and allows the U.S. government to fund its trade deficits at very low cost.Essentially reserve currency status means that most countries around the world and their respective banks will hold dollars (and dollar proxies such as U.S. treasury bonds) as part of their trade requirements.Globally a massive 87% of all currency transactions have the U.S. dollar on one side, that is to say that most international trading involves buy and selling goods and services through U.S. dollars. Most central banks believe that the U.S. dollar is the only realistic alternative for such trade as the market is very liquid and has always been considered very safe.

Never before, to our knowledge, has the U.S. sought to limit, via limitations on access to the USD clearing systems, a key global institution (BNP) and a national champion of an important strategic ally (France), the right to trade internationally.This policy shift represents an enormous risk for the U.S. and its trading partners and undermines what has always been implied that; that by clearing through the U.S. dollar a country can access, safely, the world capital markets while remaining sovereign.

It is important to note that that U.S. dollar supremacy began with the Bretton Woods agreement some 70 years ago.In the aftermath of two devastating World Wars global leaders convened a conference that would set the economic rules for global economic activity. The delegates diagnosed that the causes for both World Wars lay in economic mismanagement by national governments and that a degree of global oversight and the application of a rules based approach was needed. The agreement led to the creation of the IMF and the World Bank with a mandate to intervene, alleviate and where possible prevent economic crises.

Recent unorthodox monetary policies, the issuance of money in the form of quantitative easing has left countries, primarily those in the EU, who have not pursued such measures at a serious disadvantage. As essentially, QE policy countries have effectively devalued their currencies relative to countries who did not participate.Such poor coordination is in contravention with the principles of Bretton Woods and is keeping with unilateral type policies which preceded the outbreaks of both World Wars.

A key element of the agreement was the stability conferred upon the dollar by virtue of its peg to gold and global currencies peg to the dollar. The U.S. broke the dollar link to gold in 1971 and the USD became a fiat currency, backed only by “trust” in the U.S. government. "

Sicilianthing

I know and knew better, I was looking at data before 4th quarter drop in 2013... so I began to prepare myself.
Only it's getting uglier than I thought... the -2.9 1st quarter was double what I thought in my values.
Whatever is happening it's coming with velocity and widespread.
Yes they will look like fools to try and soften the blow for this one.

Ve'hoe

Not to mention, that they say and report whatever number fits their sense of propriety,,, and sounds good, then the steadily downgrade it over several months, so most liberal sheep on here dont bother looking, and think the economy is great simply because the "Stock market is high" which is more like profit taking from govt money infusion..... when it crashes, we are screwed.

The first thing most people will notice after the fall is that the light switch doesnt work in the morning, and the electricity just doesnt turn on,,, no TV, no ATM, no phone service, no facebook, no EBT card,,,,, and smoke rising in the distance..........

Sicilianthing

YEP and the SlimeStreet, Market is artificially inflated, just wait till this next Correction comes...

Winter Solstice Loc: Salt Lake City

Yup! The Stock Market is due a Correction. It'll probably happen about the time the Recession is a fact.

Ve'hoe

Gentlemen,,, I had the dubious pleasure of being in the USMC as a Captain, during the Rodney King riots,,,, an example of just how fast society can reassess the caveman attitude and times....

I devised an investment strategy from observations during that "period of manmade crisis"

I suggest semi-precious metals,,, copper jacketed lead,,,,
and lots of them.....

Winter Solstice Loc: Salt Lake City

Ve'hoe, you have the right approach to the up-coming crisis. Copper jacked lead is truly a good investment and I have done the same as you in preparing myself and my family.

Ve'hoe

I "SAW" what worked, and what didn't.

I "SAW" what the meek and downtrodden did, when they thought no one was looking or wouldn't do anything about it.

I saw how noble and loving the "POOOR MAN" the "Salt of the Earth Man" the guy "Who through no fault of his own" was poor and kept down.

I saw the man, as the liberals claim "By the grace of God, there go I" rape, murder, burn, steal, and destroy his neighbors, their lives, their children and their futures.

I saw, how the politicians, or great leaders, and protectors, ran away and left the civilians to fend for themselves, and then protected the killers.

Worst of all, I saw how those same leaders and politicians, protectors/defenders of the constitution, civility, peace, love, and drugs, disarmed the people and let the wolves through the gate of the city.


I swore, I would never get caught, and I began to load ammo and prepare... all of you, better do the same while you still can..... that is what is behind the controls of sales, weapons, and ammo,,,, they don't give a sh-t about your lives, or any childrens lives, otherwise they wouldn't be launching a biological war, with sick Mexicans on people who didn't vote for them..

Nickolai

Well It will soon be 5 years since the last great recession and historically recessions re-occur about every 3,5 to 4 years and since we decided 40 years ago to return to a new gilded AGE it's no surprise Throughout the 19 century bank panics came with regularity wiping out savings every twenty years meant a new railroad bubble and each time people would say. "This time it'll be different " We learned our lessons from the last time but it was always the same, high unemployment bankruptcies and misery

Sicilianthing

Sounds right to me... I'm all in...

Sicilianthing

CORRECT, hope for a peaceful change and removal, but prepare for BATTLE...

The BANKSTERS DO NOT CARE ABOUT GOD, RELIGION, CHILDREN, Illegal ALIENS, Man, Woman or Beast, all they care about are RESOURCES, MONEY and POWER over all of us, and Killing as many as necessary to keep it.....

They will turn us on each other with manufactured lies and propaganda through their SICK Media outlets.

By Way of THREAT and Consequence they will turn the BRAINWASHED Military, Police, Guard to fire on us and slaughter by example.

Remember who is behind it all, do not be fooled.