Just how bad is the economy, listen if you dare!

[Gary]

Yesterday, 26,01,09 I discussed briefly with Norval about the state of the economy and how it relates to events mentioned in the last few pages of a Revelation to John.
I decided to have a nose around around the Internet to day to try and find a "more sensible" commentary on what is really happening around the world, what I found is deeply disturbing!

Just how bad is the economy, listen if you dare!

You can't stop what's coming!
Art Bell discusses the grave situation the world economy is in. One of the more sober accounts of just how close to melt down the world is in, at around 160 minutes this is a marathon look at what will probably happen just a few months from now!

Celente Commentary
First hour guest, trends analyst Gerald Celente shared his dire economic outlook for the coming year. By February, there'll be major bankruptcies in the retail sector, leading into the collapse of the commercial real estate market that'll be worse than the problems with home mortgages, he warned. He sees a global depression taking hold in 2009, and protests by students and/or workers related to the economy coming in the Spring.

Recap
Economy & Financial Fraud
Art Bell was joined by financial advisor Catherine Austin Fitts for a discussion on fraud and the economy. Financial fraud is tied into the black budget-- "the local narcotics trade is financing Tony Soprano, who's financing James Bond," she quipped. Offering her analysis of the recent fraud case involving Bernie Madoff siphoning off $50 billion, she suggested that he couldn't have done it without some kind of institutional support.

We're seeing a "freeze up"-- no one wants to trade, because no one trusts each other-- and that, she said, is "because theyre not trustworthy." This is an example of the market actually working, she noted. The shakeout from the bubble economy is going to continue, Fitts warned, with the Dow possibly dropping as low as 4500 during 2009. Pension funds will take huge losses, and municipalities will be handed the bill, she continued.
There are pockets of people around the country who are successfully adapting, said Fitts, who advocated investing in local banks and farmers, as well as precious metals. Financial integrity ultimately has to come from the crowd, who needs to prepare to convert to something more sustainable, she added.

Once again, there is around 160 minutes of video's so I'm not going to download them but you can find them here, listen if you dare! (http://gazbom.blogspot.com/2009/01/just-how-bad-is-economy-listen-if-you.html)

[Norval]

, , , and then the Document states that the people will be throwing their riches into the streets, , ,

[Swami Salami]

http://video.google.nl/videoplay?docid=4540785500411484434&ei=6Tx_SZP_Jqb8iAKH3YCZCw&q=web.bot+and+2012&hl=nl

Lets see what will happen the coming year. The predict "The Summer of Hell" in 2009.......

[Gary]

This computer has been found to be very accurate if I understand!

[Gary]

This computer has been found to be very accurate if I understand!

Well how long before this video is pulled?

[unipax]

Yeah it aint lookin so rosy on the economic front.

I think Catherine Austin Fitts tells it straight.
She said the when she was assistant Sec of HUD under Clinton, a Pentagon type offered her a chance to meet an alien. She said she declined.

Also one time she said that in a conversation with an LAPD detective, she was shown a map that had all the problem neighborhoods with the crack houses identified. She said it was an 'Aha moment' because the same areas were also being investigated by HUD for some kinda rampant scamming by crooked realtors and banksters.

Then she tells another story about speaking to her audiences of 'good' people, ie those types of people that she considers honest concerned citizens etc.
She said she talks to them about their IRAs, 401K etc. She explains how that sector of the economy is somehow dependent upon the illegal drug trade. (something about liquidity, if I recall correctly).
Then she asks how many of you would stand up and end the illegal drug trade, knowing it would kill your IRAs ....?
She said only one person said yes. Then she launches into her ideas for getting us out of the mess. She says that one of her favorite measuring devices for success is how safe it is to send a ten year old out to walk to the store for a loaf of bread, and return home intact.

[Terran]

She says that one of her favorite measuring devices for success is how safe it is to send a ten year old out to walk to the store for a loaf of bread, and return home intact.

Yeah, I remember reading about that. I think she calls it the "popsicle index." Great concept!

[Gary]

U.N. crime chief says drug money flowed into banks

VIENNA: The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday.

Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year.

"In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."

The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way."

Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved. He only said Austria was not on top of his list, Profil said.

http://www.iht.com/articles/reuters/2009/01/25/europe/OUKWD-UK-FINANCIAL-UN-DRUGS.php