Economic Warnings

metatron

I hate sounding anything like You Know (I REALLY HATE IT) but there are some very
ominous things happening in the economic arena that could affect all of us.

The Bank of Japan tried to sell 10 year bonds to buy up stocks to prevent massive
bankruptcies. They failed. This apparently has never happened before. Their populace
is aging, their economy is precarious and their entire banking system may be near
collapse.

Brazil may elect a union man president who talks about repudiating its debt

which brings us to the Morgan Chase bank - which is already reeling from failed
telcoms, TRILLIONS of dollars in derivatives - and now, shaky foreign exposure.
Read the message board on Yahoo under "JPM" (Finance) and get a feel for the panic
that's building. Any misstep and all their equity goes poof (if they actually have
any left)

I predict that suicide could become a major cause of death in Japan
and that a bank failure bigger than anything in US history will hit in the next
couple years. I'd be interested in hearing from "JWD" or anyone else as to
conditions in Japan congregations.

Wish I had better news,

metatron

Satanus

Won't the tremendous economic/industrial development of china and the growth of india have an offsetting effect on japanese problems?

BTW, youknow hasn't been around for a while??? I doubt if you will be able to fill his shoes, though

SS

Edited by - saintsatan on 20 September 2002 16:10:4

Crazy151drinker

Its the DEAMONZ!!!!!

Well dont worry Metatron. We will be at war soon and that will pump everything up!

The Alchemist

Also gold seems to be on it's way up. Today it peaked at $324.80 per oz. It had been down to $251.00 when stocks and paper investments seemed perferable to gold ownership. The Central Banks have been slowly selling their gold reserves for years. They must have doubts about the economy or they would have taking advantage of these higher markets and dumped the metal. By doing this the price would fall. This has not happened. So I would think that the Central Bankers would agree with you Metatron.

kelsey007

Yes war as an economic tool has always been the republican way. Just read an intersting article today about a german politician who accused bush of using the iraqi issue as a tool to draw attention away from our domestic issues. She got herself in a bit of heat when she said Hitler did the same thing... Claims were made that she was comparing bush to hitler...

Big Tex

Unfortunately I think you're correct. It shows the fallacy of the 90's boom as being nothing more than a cheap facade of false earnings and speculative investing gone awry. I look ahead and I am very nervous since it seems as though no one has a handle on what to do and how to correct what could be a free fall in the world economy. What many people don't realize is that what happens in Japan does affect other economies, even America's. We are all tied together economically and if one nation's economy collapases it could easily start a domino effect. Bad times are coming indeed.

happy man

If i look at my investments in the stock market, my nick name is unhappyman, this is one of my bigg intrests, and my investments hade gone down around 90 %, inn sweden we who was the leading IT nation in the word, this amazing companies have gone down 90-99%, from year 2000. The famus comapny, Ericsson, have gone from 20$, to 0,5 cent, and they are leaders in the word in telecom, i think we have major intrests who also want this going down, they earn a lot of money on this , invest in negative options fore exampel, or rent stocks and sell them, so the negative spiral is bigger.

On this issu, it have been good to follow the JW polyci, to dont bee to greedy, when evrything was on the top, you never think to sell, and when it start to go down, well it is turnig back son, evry expert say, soo now the bigg companies take your money. I thik whats hapend is the biggest movment of money, from smal man to the rich men, as we hade in the centuri, thats beaucuse they can use all of the markets tool, and the littel, man can not.

perhaps you here who talk about conspiracy theorie , have something here?

ballistic

If you think JPMorgan, the 2nd largest bank in the US, is about to collapse - you are having a laugh. The shares aren't doing too good and that's it. The losses through enron and worldcom lost JPMorgan less than 2% of it's total assets.

Besides, they hold the assets of the Watchtower!

Edited by - ballistic on 21 September 2002 4:52:55

Amazing

I had some pretty big batles with You Know on this topic, especially derivitives, back in the H20 days and some here on JWD.

Derivitives are counted on every transaction that takes place when it involves international exchanges. If I drive across the border to Canada and buy $20 of gasoline on my credit card, the exchange transaction will look like $40 because it is counted twice, once through the Canadian bank and then again through the American bank and then more will be added because of the exchange rate change ... Derivitives are counted going up and going down as well. The 1.5 to 2.0 Trillion Derivite market is about right for a daily worldwide economy. Added to this are international trades, paper trades, etc. etc. etc. ... it is an enourmous market and the bigger it gets the better. I could never get You Know to understand this.

Japan's economy has been on the fritz for about ten years. Post WWII their economy was in the tank, and only with American help did it recover and then Japan eventually outpaced the USA ... that is until the early 1990s ... Japan has been in the tank like the rest of the Pacific Rim nations ...

Interest rates ... while the American economy reboomed after the Reagan boom ... not because of Reagan or Bush sr. or Clinton ... for American Presidents don't do much one way or the other ... our American economy boomed because of foreign investment ... the huge cash infusion came as a result of Pacific Rim nations, like Japan, Taiwan, Indonesia, etc. dumping liquid capital into the USA because their own nations were bottomed out and unstable ... the extra cash drove down interest rates in the USA and that is why we are enjoying the lowest rates in over 40 years.

Will there ever be economic collapse? Could be, as there has been depressions every 30 years, or if skipped then a major Great Depression about every 60 years ... we are due for a Great Depression which should have happened in the 1990s and did not. I am not too worried about it, whether it happens or not.

Gold is still at serious lows compared to the 1970s when it hit about $1,000.00 per ounce and Silver was just over $50 per ounce. When President Nixon finally closed the gold winder at the Federal Reserve, then Gold soared frm $35 / ounce, the official rate to about $350 / ounce where it should have been. It went on up to its high of about $1,000 and then bounced around down and up and down ... so today's rate at about $325 / ounce is damn good.

Bankruptcies: So what? Big deal? No. It is part of the normal shake down that happens. During times of change, the economy will grow with new products and competing services ... as things settle down, the competition will force many companies out of business ... and after the shake down, new opportunities and resurgence of growth will happen again ... it is normal.

Preaching Doom and Gloom: Frankly, I hope that we have a shake down so we can get past the doom and gloom that has been preached for over 20 years ... I recall the preaching of doom and gloom during the 1960s boom ... and eventually in the early 1970s we tanked out with the Nixon-Gold issue and the gas price hikes ... and Jehovah's Witnesses were running amuck with vows that Armegeddon would be here by 1975 ... and now, here we are talking about it ... and in a couple of decades our grandchildren will be sitting around talking about the same goddamn thing ... ...

Economic Warnings

Share this