"Our Economy Right Now" - another fun video

[Bill]

And whattya know, it's made by Ron Paul people.

I enjoyed the video - makes me glad I'm not in debt and wasn't so stupid as to jump onto the home-buying bubble.

http://www.youtube.com/watch?v=-rLYph0J7vc&NR=1

[Moby]

I've been telling people since 2002 that we would face a huge economic hit around 2008 to 2010 where people would loose their homes in record numbers. I estimated that the fall out would be worse then the S&L fall out but it looks like it may not approach the $150 Billion.

[moonman]

I've been telling people since 2002 that we would face a huge economic hit around 2008 to 2010 where people would loose their homes in record numbers. I estimated that the fall out would be worse then the S&L fall out but it looks like it may not approach the $150 Billion.

It will exceed 150 billion. Bernanke first estimated subprime foreclosures at somewhere between 50-100 billion. Last week he said it will exceed 100 billion. In October alone 50 billion in 1% ARM's get adjusted upward. People will find their house payments double and triple overnight.

You will see more hedge funds based upon those loans go under as a result. You haven't seen the credit crunch yet. You've seen Bear Stern's go under. Do you have a memory that goes back even two weeks or what?

The Fed is in crisis mode!!! All western central banks are in crisis mode!!!

Sir Moby sez I predicted this and I predicted that. When you gonna appear on George Noory, wise guy?

The banks are pumping money into the system at such an alarming they are even waiving the rules to pump money into the system. They knew this was coming over a year ago and announced they would no longer release M3 because telling people how much money they were pumping into the system would alarm people even more.

And now you have the real problem. Paper money is worthless.

I laugh at people at myself as well, whomoved out of US based investments and into foreign capital. Fact is the Euro, the yen, the yuan the CDN, the pound haven't risen in value. The USD has collapsed.