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BlueGalant HD wrote:I am considering bailing out of now because I feel people will cut back considerably on there WANTS and focus more on there NEEDS; meaning a drop in my business because I don't have a super market or gas station now don’t get me wrong I know they also would be affected but not as bad as some other businesses, I have seen KFC said they have had a drop in sales considerably so who is me?
BlueGalant HD wrote:Some of the questions I find myself asking is; "How will my creditors (Financial Institution) deal with me if I cannot make my monthly commitments?" Will they be lenient on me or will they be encouraging and help see me through?
BlueGalant HD wrote:To be honest the thought of this has brought me to a stand still; but I will not give up!
Have you taking any of this into consideration and what are your plans to combat if it comes your way?
... To arse was that man!
MY GOD!!!
BlueGalant HD wrote:Notorious Scullman wrote:What about Canada?
I've been talking to a great deal of my friends in Canada and it seems they are enjoying the decline of the all mighty US dollar there dollar has risen considerablly in the past year
Terran wrote:I was going to make mention of some of these things, but I found this article, and it details the horror we can expect quite "nicely". I have not yet begun to imagine how it will affect me personally, but reading this gives me chills.
http://www.thepropheticyears.com/reason ... 20debt.HTM
The coming economic crash caused by world debt
By Don Koenig - 2008 update
Almost every nation of the world has such severe debt that just making the interest payments takes a large amount of their financial resources. Much of this world debt is owed to world bankers that then dictate their own economic policy to these countries. These policies do not favor the poor.
The largest economy in the world is the United States. The US government is currently over 9 trillion dollars in debt and that is projected to go to 10 trillion or more in two years. Paying the interest on that huge debt in future years will cost about as much as what is spent on national defense (using modern historical interest rates and the cost of defense under normal peace time conditions).
The United States is now by far the biggest debtor nation in the world. For many years we have been importing hundreds of billions more dollars in goods and services than we are exporting each year. In 2005 through 2007 the trade imbalance averaged well over 700 billion dollars per year! Trillions of US dollars are now in the hands of foreign investors who at any time could dump the dollar causing a devaluation of the currency.
Just a few years ago, the US government was forecasting surpluses of trillions of dollars based on the stupid assumption that there would not be a downturn in the economy for decades. This foolish assumption was of course proven wrong and deficit spending has returned to well over "four hundred billion dollars" a year. The only reason the United States is not feeling the pinch of spending beyond its means has been the record low interest rates. The low interest rates were brought about by Federal Reserve manipulation to stimulate the economy but interest rates now will rise. Soon all who need loans will be making higher payments and the US government will be paying much more to service the national debt.
Debt and unfunded liabilities promised through entitlement programs is now over 50 trillion dollars. This amount of money in non inflationary dollars is impossible to raise! Thus, the US is now technically bankrupt. In order to keep up the facade that the US is solvent for even another decade or two one or more of the following must happen.
1. Taxes must be raised.
2. Government spending will have to be drastically cut.
3. Deficit spending will dramatically increase.
If taxes are raised, it will kill the economy and the debt load will get worse and not better. Spending will not be drastically cut because these types of cuts would never get through the political system. Therefore, massive deficit spending will take place. The monetary system will be inflated so that this debt can be paid by using a dollar worth only a fraction of what it is today. This means a much weaker dollar in the future and much higher prices for all goods and services imported to the United States (in short it means we should expect hyper-Inflation). The recent rise in all commodity prices might just be the start of what is to come.
The best long term scenario is that the economy will expand for decades and we will partly grow our way out of this debt crunch (like we temporarily did under Ronald Reagan). I do not see stability for that length of time as even a remote possibility in this world full of crises. I think it is only a matter of time before a downturn in the economy or an unforeseen world event brings about the collapse of this house of cards.
The catalyst for a crash can come in any number of ways. One likely scenario is that confidence in the US dollar will falter. When this happens interest rates will have to rise dramatically to try to lure foreign investors to re-service our debt. Higher interest rates will then shut down our economy and less tax money will be raised. The debt will still have to be paid at the higher interest rate so the government will print even more money and deficit spending will increase. The dollar will fall in value against other currencies bringing about an inflation spiral in the United States and even more dumping of US dollars for a more stable currency.
Banks and financial institutions holding today's unrealistic low interest loans on property will go under, causing a collapse of pension systems and/or a taxpayer bailout that will worsen the deficits even further. Many with adjustable rate mortgages will not be able to make the payments and they will default on their loans. The foreclosed houses will be dumped on the market bringing a collapse in all home values. All this in effect will cause an inflationary depression in the largest economy in the world.
The fall of the US economy will have a domino effect and bring about a worldwide depression that will further depress the US economy and bring a full fledged depression worse than the great depression of the 1930's. When this happens most companies will go bankrupt and will be nationalized.
When I first wrote about the coming economic crash caused by debt in the year 2000, the stock market was 300 percent overvalued. Since then the market has gone down and has gone back up. However, when inflation and the fall of the dollar over the past seven years are factored in stocks still do not have the real value that they did in the year 2000. If investors today had a proper perspective on interest rates, the falling dollar, record oil prices, record deficit spending, the housing crash, terrorism and the coming conflict with Iran the value of stocks compared to the value of real goods and services would decline by more than 200 percent. They will!
Paper money is only worth what it can be traded for in real goods and services. The United States record deficit spending is putting cash into the economy but like all who spend beyond their means the bill will come due. Soon foreign investors will lose confidence and others that hate the US will deliberately cause more pain and the dollar will fall like a rock. The fall of the dollar has already begun. The US dollar only buys 60 percent of what it did in Europe only a few years ago. Only time will tell if the current fall of the dollar will briefly stop or continue descending into a worse crises. Meanwhile, if there is another downturn anytime soon caused by economics or terrorism, or the collapse of housing we will not be able to buy our way out of it again without hyper-inflation.
Inflationary depression worse than the great depression
Two thirds of the families in the US are now invested in the stock market compared to three percent in the great crash of 1929. When the economic crash comes, retirement accounts, mutual funds and most paper wealth will be wiped out. Most banks and financial institutions will fail, be bailed out, or be taken over by the government (causing further devaluation of the dollar). Most people making a living on the service sector of our economy will be unemployed. Prices on everything made in this country will either deflate or paper money will lose most of its value. The resultant depression will affect everyone and it will be the worst that this nation has ever known.
When the US economy goes down it will take the world economy with it. This economic collapse will cause great civil unrest all over the world, cities will be filled with riots and later with troops. Democracy will be dead and people will look to demigods to solve their problems. When the economy of the West crashes Russia may get ideas to invade the Middle East to seize its riches.
This day will not take some of the elite of the world by surprise. They know that this day is coming (Satan pulls their strings). At the appropriate time, the solution to the crises will be to abolish almost all debt and all savings and to start over with a new world economic system that will set the stage for the end time economic system described in the book of Revelation.
There is little question that the world debt crash is coming. It does not even have to start in the United States (it could begin in Japan or elsewhere). The only question is the timing of this crash. The world debt situation is so bad now, that a deliberate or accidental crash could occur at any time. The world bankers and world leaders have been putting off the inevitable by huge bailouts and extensions of debts but with these bailouts there is loss of sovereignty to world government and world bankers. They will continue in this mode until the house of cards collapses of its own weight, someone pulls a card, or some large scale economic disruption blows this house of cards over.
Students of Bible prophecy know that a new world economic system will be set up under a world government where no one will be able to buy or sell unless they take the "mark of the Beast". The formerly debt ridden world will embrace this worldwide cash-less monetary system after the crash because a new system will wipe out most debt and all nations will start afresh. This new economic system will promise great prosperity to the world.
Signs of the time
There is unparalleled greed and foolishness happening in the financial markets of today. People have lost their ability to reason. Like gamblers at casinos the day traders believe that they cannot lose. They think the stock market will always go up. When they take a loss they just double up on their bets. At the high roller's table there are the derivative speculators that are gambling trillions and whole corporations on the wheel of fortune.
We allow government to spend more than it collects and thus defer the bills to our children with little thought to the consequences it will have for them. The scripture says that the love of money is the root of all kinds of evil. Even many Christians have embraced these evils. The number one message preached today in Christian media and in pulpits is "give us money". God has blessed the United States because of His people but greed will ultimately bring correction.
The massive world debt load argues that borrowers have become enslaved by the lenders and will do their wishes. On a temporal national level this means that debt ridden nations must fall in line with the agenda of the globalist socialist elite or they will find themselves in a depression. In the longer term when Satan is ready for his man to take control of the world, this generation will see a total crash of the old economic system. The solution of the new economic system will bring the 666 mark of the Beast and enslavement.
Gshock wrote:Buying Jets and giving away helicopters...this recession will be worst than the 80's....after the last oil boom..The government have build houses on the majority of AGRICULTURE LAND with no care for the local food demand.....
Buy Local will become law instead of aDVICE !!
Terran wrote:bushwakka, at some point in time, you need to sit down and take a long hard look at the possible impact it will have on YOU. This could be worse than a tropical hurricane that can destroy your house. A recession can ruin your home, your livelihood, your financial and economic status, and it won't just be for a few hours like a storm. It could last YEARS.
The government aren't buying JETS; Caribbean Airlines were buying a JET with the government LENDING the money to them being a shareholder in the company; it was a strategic business move to go forward I guessed based of feasibility studies done by Caribbean Airlines and the government on there part. It was for hire by anyone if Caribbean Airlines bought it; I have friends who came together and rented a private jet to go places; CLICO has a private JET they use to jet there executives around they world so who is Caribbean Airlines who are in the airline business?
Terran wrote:bushwakka, at some point in time, you need to sit down and take a long hard look at the possible impact it will have on YOU. This could be worse than a tropical hurricane that can destroy your house. A recession can ruin your home, your livelihood, your financial and economic status, and it won't just be for a few hours like a storm. It could last YEARS.
How can the government GIVE AWAY a helicopter? They are helping a Caricom partner battle crime; you want to bash them for that? We do a great deal of business with Guyana and the government could of been looking at helping them because if the situation got any worse you would of found people of Guyana entering here illegally by the BOAT LOADS just like CUBANS to America.
kutie wrote:How can the government GIVE AWAY a helicopter? They are helping a Caricom partner battle crime; you want to bash them for that? We do a great deal of business with Guyana and the government could of been looking at helping them because if the situation got any worse you would of found people of Guyana entering here illegally by the BOAT LOADS just like CUBANS to America.
Blue......you should learn your grammer before you try to enlighten us about Politics
noobie wrote:The government aren't buying JETS; Caribbean Airlines were buying a JET with the government LENDING the money to them being a shareholder in the company; it was a strategic business move to go forward I guessed based of feasibility studies done by Caribbean Airlines and the government on there part. It was for hire by anyone if Caribbean Airlines bought it; I have friends who came together and rented a private jet to go places; CLICO has a private JET they use to jet there executives around they world so who is Caribbean Airlines who are in the airline business?
How ignorant can one possibly be?
Government was completely funding the purchase of a jet THROUGH Caribbean Airlines.It was completely Underwriting ALL COSTS ASSOCIATED WITH THAT JET, including pilot salaries, training and maintenance of the Jet.
Only someone being disingenuous to push an agenda, or terminally stupid would say that this was just a normal business move on the part of CAL and the Tax Payers shouldn't be concerned.
If you require an analogy, we're the SHAREHOLDERs and Investors in the Company of Trinidad and Tobago, which has agreed to give over 400 million of OUR money to a company to buy a Private Jet for the CEO.
Show me the results from the feasibility studies which were done which show that in the Caribbean Region there is enough of a market for such a service to warrant the purchase and maintenance of the most expensive Trans Atlantic private jet possible?
And also show me the comparison and Cost-Benefit against any of a number of Private Jet services that are currently available on the world market and in our region.
You can't can you? Therefore you're talking out your ass when you say it makes business sense because you have absolutely no evidence on which to base this statement.
If you are pointing to the fact that your friends can rent a jet and a Multinational corporation has a jet as justification and evidence for Trinidad and Tobago to have a Private jet, then I hope you don't sit on any boards or are placed in any position that requires critical thinking. Because you'd fail if that's the extent of your decision making faculties.
Come on, how insipid do you have to be? The only people this was a good business decision for, and that only on paper, is Caribbean Airlines.
kutie wrote:How can the government GIVE AWAY a helicopter? They are helping a Caricom partner battle crime; you want to bash them for that? We do a great deal of business with Guyana and the government could of been looking at helping them because if the situation got any worse you would of found people of Guyana entering here illegally by the BOAT LOADS just like CUBANS to America.
Blue......you should learn your grammer before you try to enlighten us about Politics
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