The Worst Case Scenario

[Skyowl's Wife]

Some interesting predictions, here!

http://seekingalpha.com/article/134820-the-worst-case-scenario-someone-has-to-say-it

I need to go increase my supplies....

[Lostinoz]

Wife, to go along with this prediction thread, I wanted to add these past (failed) "predictions" from our wonderful Mr. Bernanke and Mr. Paulson. This was lifted from the TOL site.

March 13th, 2007 – Henry Paulson: “the fallout in subprime mortgages is "going to be painful to some lenders, but it is largely contained."

March 28th, 2007 – Ben Bernanke: "At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,"

April 20th, 2007 – Paulson: "I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained." , "All the signs I look at" show "the housing market is at or near the bottom,"

May 17th, 2007 – Bernanke: “While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.”

June 20th, 2007 – Bernanke: (the subprime fallout) ``will not affect the economy overall.''

July 12th, 2007 – Paulson: "This is far and away the strongest global economy I've seen in my business lifetime."

August 1st, 2007 – Paulson: "I see the underlying economy as being very healthy,"

October 15th, 2007 – Bernanke: "It is not the responsibility of the Federal Reserve - nor would it be appropriate - to protect lenders and investors from the consequences of their financial decisions."

February 14th, 2008 – Paulson: (the economy) "is fundamentally strong, diverse and resilient."

February 28th, 2008 – Paulson: "I'm seeing a series of ideas suggested involving major government intervention in the housing market, and these things are usually presented or sold as a way of helping homeowners stay in their homes. Then when you look at them more carefully what they really amount to is a bailout for financial institutions or Wall Street."

February 29th, 2008 – Bernanke: "I expect there will be some failures. I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system."

March 16th, 2008 – Paulson: "We've got strong financial institutions . . . Our markets are the envy of the world. They're resilient, they're...innovative, they're flexible. I think we move very quickly to address situations in this country, and, as I said, our financial institutions are strong."

Mar 18th, 2008 - Bear Stearns Bailout Announced

May 7, 2008 – Paulson: 'The worst is likely to be behind us,”

May 16th, 2008 – Paulson: "In my judgment, we are closer to the end of the market turmoil than the beginning," he said.

June 9th, 2008 – Bernanke: Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned,

July 16th, 2008 – Bernanke: (Freddie and Fannie) “…will make it through the storm”, "… in no danger of failing.","…adequately capitalized"

July 20th, 2008 – Paulson: "it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation."

August 10th, 2008 – Paulson: ``We have no plans to insert money into either of those two institutions.” (Fannie Mae and Freddie Mac)

Sept 8th, 2008 - Fannie and Freddie nationalized. The taxpayer is on the hook for an estimated 1 - 1.5 trillion dollars. Over 5 trillion is added to the nation’s balance sheet.
September 16th, 2008 - $85 Billion AIG Bailout “Loan”
September 19th, 2008 - $700 Billion Bailout Plan Announced

September 19th, 2008 – Paulson: "We're talking hundreds of billions of dollars - this needs to be big enough to make a real difference and get at the heart of the problem," he said. "This is the way we stabilize the system."

September 19th, 2008 - Bernanke: "most severe financial crisis" in the post-World War II era. Investment banks are seeing "tremendous runs on their cash," Bernanke said. "Without action, they will fail soon."

September 21st, 2008 – Paulson: "The credit markets are still very fragile right now and frozen", "We need to deal with this and deal with it quickly.", "The financial security of all Americans ... depends on our ability to restore our financial institutions to a sound footing."

September 23rd, 2008 – Paulson: "We must [enact a program quickly] in order to avoid a continuing series of financial institution failures and frozen credit markets that threaten American families' financial well-being, the viability of businesses, both small and large, and the very health of our economy,"

September 23rd, 2008 – Bernanke: "My interest is solely for the strength and recovery of the U.S. economy,"

Henry Paulson was the chairman and CEO of Goldman Sachs, the largest Wall Street investment bank, before being nominated for US Treasury Secretary on May 30th, 2006.

[unswydd]

Some interesting predictions, here!

http://seekingalpha.com/article/134820-the-worst-case-scenario-someone-has-to-say-it

I need to go increase my supplies....

This is an interesting piece. Quite probable actually. But as I have said before, I have read the book and know the end of the story. Just prepare yourself and yours and be confident that there is a higher plane.

[brianp123]

come on !

It's obvious water, shelter , food and ammo are important! You say don't be political , don't bitch. Preparing for a natural disaster and preparing for the FBI coming to take your guns , or putting you in prison for having an unregistered shotgun are two different things. When do we deal with being Americans ?!! Americans were not *****s to the British !!

[Lostinoz]

Deisel; It's obvious water, shelter , food and ammo are important! You say don't be political , don't bitch. Preparing for a natural disaster and preparing for the FBI coming to take your guns , or putting you in prison for having an unregistered shotgun are two different things. I think your being a *****! When do we deal with being Americans ?!! Americans were not *****s to the British !! If you wanna compare backpacks and water bottles , and hide in a hole go ahead . ARE WE F***ING AMERICANS ANY MORE ? OR HAVE WE HAD OUR BALLS CUT OFF??

:confused: Was it something "I" said? I blame Unswydd. ;)

[unswydd]

:confused: Was it something "I" said? I blame Unswydd. ;)

Oh My. :eek:

[Skyowl's Wife]

Seeing predictions like this cause me to lose some sleep upon occasion. I end up taking things like this site even more seriously.

[Brosia]

I agree, it's the political stuff and bad news lately that's causing lots of us to up our preparations, and I feel it's important to a survivalism board--- but Brianp123, I request you edit your post and tone it down a bit. thank you.

[Skyowl's Wife]

I agree, it's the political stuff and bad news lately that's causing lots of us to up our preparations, and I feel it's important to a survivalism board--- but Brianp123, I request you edit your post and tone it down a bit. thank you.

Aye, when I posted my later comment, I first posted that I agreed with Brian, but backed it out. I needed to think about what I meant - to where I could word it without crapping on Diesels fine family, here.

I agree with Brian's sentiment about being Americans, these are Marxists in control of our country. I don't agree with how he put it but can sympathize with that, too.

Anyone who doesn't see that Marxists are in control, hasn't done their homework. I don't think that's too many people here! Anyone who doesn't know the history of what Marxists do to people who oppose them, hasn't done their homework.

We can be prepared for disaster that you can't predict, i.e. earthquake, flood, fire. These usually requiring short-term self-reliance.

These people in charge of the country are bringing disaster that won't be short term, that we can actually SEE coming. By being self-reliant (something they HATE), we will be targets because by not drinking their coolaid, we are opposing them. No matter where we BO to. We should do what we can to avoid/prevent/interfere/instruct about what we can see coming.

It's like going on full alert physically/mentally, but watching what's coming while grabbing the BOB - without panicking.

[pathfinder3081]

I will be breif and in agreement with you ladies. My wife, whom is from another country watched all the bad in her country from start to finish. From hope achieved and then returned back to a goverment out of control and non responsive. From a goverment of comunist that retreated only to be replaced by a goverment of bandits. Police are paid off in the street for change (= to $1.25). You go to the doctor and only get treated if you pay extra out of pocket. Sky rocket inflation, happens every month or two and then returns to a functional, livable level and then jumps again. It is so odd to live and visit there. However, she listens to our news, listens to the converstaions between people at her work place and tells me "they don't have a clue, you don't have a clue" (joking with me of course) The USA is quite possibly on it's way to the ruin that they could never have been prepared for. She thinks that even the ones in control don't realize what they are saying and what they are slowly falling for.
When you have no work, electricty and heat are in limited hours of the day, the prices of food and fuel have adjusted their cost to require all that the individual can pay.
Then the "calvary goverment" will come to the rescue and you will do anything that the tell you to do. You must care for your family, you aged parent, handicap child whatever. As is has been said before " sometimes one cannot afford principles"
My two cent worth. PF

[Lostinoz]

I will be breif and in agreement with you ladies. My wife, whom is from another country watch all the bad in her country from start to finish. From hope achieved and then returned back to a goverment out of control and non responsive. From a goverment of comunist that retreated only to be replaced by a goverment of bandits. Police are paid off in the street for change (= to $1.25). You go to the doctor and only get treated if you pay extra out of pocket. Sky rocket inflation, happens every month or two and then returns to a functional, livable level and then jumps again. It is so odd to live and visit there. However, she listens to our news, listens to the converstaions between people at her work place and tells me "they don't have a clue, you don't have a clue" (joking with me of course) The USA is quite possibly on it's way to the ruin that they could never have been prepared for. She thinks that even the ones in control don't realize what they are saying and what they are slowly falling for.
When you have no work, electricty and heat are in limited hours of the day, the prices of food and fuel have adjusted their cost to require all that the individual can pay.
Then the "calvary goverment" will come to the rescue and you will do anything that the tell you to do. You must care for your family, you aged parent, handicap child whatever. As is has been said before " sometimes one cannot afford principles"
My two cent worth. PF

That's a good two cents worth Path! Now, how do we convince Lady Pathfinder to start posting her first-hand experiences on this board??? PLEASE Lady Path, join the site and post your views. :)

[pathfinder3081]

I will tell her OZ (smile). We don't want her Visa to be revoked before she gets her Citizenship though. (lol) We both have waited to long. PF

[unswydd]

I have gone full tilt in complete survival mode. After reading these previous posts I am and have been for some time now, throughly convinced that we are doomed I tell you, Doomed! I have to have a little humor or I'll go nuts. I have been reading about Tony Blair going over to live in Jerusalem and the UN and well, I have to tell you I'm completely gone over the edge on this part. There are just too many things falling in place and I have to say that my head is reeling! But I'm ready.