A financial storm: Bankruptcy Of a Nation !!!

readers, friends/foes on cari: fasten your seat belts because a huge financial storm is headed your/our way. Save money, eliminate debt, be frugal i don;t know what else but be prepared....





read with emphasis on:

Larouche: "...we're on the verge of the greatest financial collapse known to any of you. And it's coming on soon. Unfortunately, none of the candidates I'm up against, none of the rivals, so-called, are prepared to even discuss it. They certainly have not discussed it in any of their so-called debates--which are not really debates, more clown-shows than debates, I must say."

More and more, it seems to me, the whole world is living in a complete fantasy world of denial. The denial about the 911 hoax is absolute incredible, and now we have this overall denial about the economy. None of the candidates speaks or faces the truth. Why don't the democrats just stand up and point out that Bush is the most evil president in history? Everyone is tongue-tied, as if it has become the penultimate rudeness to point out the truth. When you endlessly deny truth and start embracing all sorts of fantasy worlds you become clinically insane, and then you have a bunch of insane people trying to solve problems, which never works.

La Rouche and Kucinich are telling the truth, and because of that they don't have a chance to be elected. Probably the greatest liar will win the prize, and we all know who that is.



----------------------------------
50% Collapse Of The Dollar Signals Bankruptcy Of The Nation
Press Release Larouche In 2004 12-16-3

Dec. 16--At a Dec. 12 international webcast from Washington, D.C. Democratic Party pre-candidate Lyndon H. LaRouche began by addressing the accelerating collapse of the U.S dollar and the descent of the nation into bankruptcy, a theme which he returned to repeatedly thoughout his address.

In his opening words to the audience, LaRouche characterized the economic crisis as fully as serious as that which faced Franklin D. Roosevelt in 1933. He said:

"Since the new European currency was introduced, the value of the U.S. dollar has dropped by almost 50%, most of that directly under the present Bush Administration. In the most recent period, the rate of collapse of the dollar has accelerated, so that the most recent phase, short-term phase, has been a 20% collapse--and it hasn't stopped collapsing, yet.

"Think of it: A nearly 50% collapse in the value of the dollar, in terms of the leading world market. And it's not stopped yet.

"The current account deficit of the United States brings us toward bankruptcy. The insane policies of the present administration, in terms of budgetary policy, tax policy, and so forth, have brought the nation to bankruptcy. It is worse than that: We are now in a crisis, which is fully as serious as that which Franklin Roosevelt faced in March of 1933."

LaRouche cautioned that there is no way the nation will get to the November 2004 Presidential election intact, without the application of FDR-style remedies under his leadership. He said:

"There's no way that we will get to the November 2004 election, with the United States which continues to represent what most foolish people believe it represents, at this moment today. This will not happen months down the line: We're on the verge of a total collapse. The breaking point could come at any moment. It could come in your Christmas stocking--or in the hole in your Christmas stocking. It could come later, because the ability to print money indefinitely, and using electronic means, as well as printing-press means, does give governments the ability to postpone a collapse which is already onrushing. Such methods of postponing a collapse, however, only make things worse. But we're in that period, at which, in a fairly short period of time, in the near term--during the course of the coming year, if it doesn't happen before Christmas--this thing is going down!"

The critical question, LaRouche stated, is who will pay for the collapse, the people or the financiers. He said:

"What's the problem? The United States has become a great parasite, a great parasite of financier speculation, as a power. Now, that financial system, that monetary system, is bankrupt. The question is, when the firm goes bankrupt, who pays? These fellows (financiers--ed.) say..., The people will pay. They'll pay, because we loot another country to pay these bills. Or, we'll loot our own people to pay these bills. And therefore, the essential conflict is between the national interest and the financiers. Hitler was not a creation of a bunch of dummies in brown uniforms. Hitler was the creation of bankers:.... The bankers of this type, the private bankers, created Hitler, because there was a financial crisis, and under conditions of financial crisis, if the government is accountable to the people, it is the bankers that will pay, not the people. And therefore, the bankers say, It's the people, it's the government, that has to go."

LaRouche pointed out that outside of his own candidacy, no- one in the Democratic Party is prepared to deal with the implications of the dollar collapse and economic breakdown. He said:

"...we're on the verge of the greatest financial collapse known to any of you. And it's coming on soon. Unfortunately, none of the candidates I'm up against, none of the rivals, so-called, are prepared to even discuss it. They certainly have not discussed it in any of their so-called debates--which are not really debates, more clown-shows than debates, I must say."

LaRouche in 2004 P.O. Box 730 Leesburg, VA 20178 www.larouchein2004.com

[img]http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$usd,uu[l,a]walannay[de][p][iut]&r=7970[/img]

another nail in the coffin..




Seven Nations Stop
US Beef Imports
By Audrey McAvoy
Associated Press Writer
12-24-03

TOKYO (AP) - Japan and South Korea halted imports of U.S. beef on Wednesday after a cow in Washington state tested positive for mad cow disease, depriving American exporters of two of their largest overseas markets.
  
Singapore, Thailand, Malaysia, Taiwan and Australia followed suit.
  
Japan's Agriculture Ministry said the ban applied to beef and beef products and took effect immediately.
  
"Until its safety can be confirmed, we decided to ban U.S. beef imports for the time being starting today," said Yasuo Fukuda, the Japanese government's top spokesman. "We plan to recall meat products that might contain bits from cattle brains and spinal cords."
  
In Seoul, South Korea, the government halted customs inspection of U.S. beef, effectively preventing the meat from reaching the domestic market.
  
South Korea's Agriculture and Forestry Ministry said it also suspended sales of all U.S. beef already on the market as a precaution.
  
Japan, South Korea and Mexico are the world's top importers of U.S. beef, according to the U.S. Meat Export Federation. There was no word late Tuesday night of any actions by Mexico.
  
The federation said imports during 2002 totaled $842 million for Japan, $610 million for South Korea and $595 million for Mexico. However, the federation said Mexico was the largest importer in terms of volume, bringing in 349,900 tons.
  
Singapore, which has imported $7 million worth of beef this year, announced an immediate ban. Malaysia temporarily suspended its imports - about a third of Singapore's - as well.
  
In Canada, where a single case of the disease was found in May, federal officials said late Tuesday that imports wouldn't be banned unless the suspected case was confirmed.
  
Dr. Brian Evans, chief veterinary officer of the Canadian Food Inspection Agency, said Canada was confident about the U.S. monitoring system, but would take appropriate action if there were any significant new developments over the next 48 hours.
  
Australia - a major beef exporters that stands to gain economically from a bans on U.S. imports - placed a temporary hold on American beef, Agriculture Minister Warren Truss said Wednesday.
  
"The Australian Government has decided to temporarily hold beef products imported from the U.S.A. at the border pending more information," Truss said in a statement.
  
Australia does not import fresh beef from the United States, only beef extract and dairy products that carry no risk of transmitting the disease, Australian officials said.
  
Stock in beef exporter Australian Agricultural Co. Limited jumped nearly 13 percent Wednesday in anticipation of new sales opportunities.
  
The actions by the Asian nations came just hours after the U.S. government announced that a Holstein cow on a Washington state farm tested positive for mad cow disease, marking the disease's first suspected appearance in the United States.
  
"If it's anything like what happened in Canada, it will be bad. The problem won't be that people will stop eating meat in the United States; the problem is the exports will be shut down like we did with Canada," said U.S. Rep. Collin Peterson, D-Minn.
  
Japanese authorities have been especially leery about mad cow disease since the nation's herds suffered the first recorded outbreak of the disease in Asia in September 2001, causing meat consumption to plunge. Consumption has since rebounded.
  
There didn't appear to be much panic at Yoshinoya, a "gyu-don" meat and rice restaurant chain where 99 percent of the beef is American.
  
"I knew about it, but when you get sick, you get sick," Naoki Enokida, a 32-year-old salesman for electronics company, said about the U.S. beef scare as he walked out after lunch in Tokyo. "If people continue to make a big fuss about it, then I may stop coming here."
  
Japan quarantined 604 cows in October to prevent the spread of the disease after authorities confirmed that a 23-month-old bull had a new strain of the bovine illness - the nation's eighth case.
  
Tokyo moved ahead with the ban despite assurances from U.S. officials that the American beef supply was safe. Japan banned the import of Canadian beef after a single case of the disease was confirmed in Ottawa on May 20, and Tokyo had expressed concern that some Canadian beef could slip into Japan via the United States.
  
While fresh imports have been banned, there was no widespread rush to pull American beef from supermarket shelves. A spokesman for Ito-Yokado, Japan's largest supermarket chain, said the retailer had faith in the safety of the beef already on its shelves and would sell its stocks.
  
Ito-Yokado imports its U.S. beef from herds in the midwest, far from where the infected Holstein was discovered in Washington state, the spokesman said, speaking on condition of anonymity.
  
Taiwan said U.S. beef could face a seven-year export ban. Thailand's Department of Livestock Development said it has banned imports of beef from the United States.
  
- Associated Press writer Jae-Suk Yoo in Seoul contributed to this report.
  
Copyright

Acong

seriously........? :stp:

if US collapse, so will everyone.

... especially singapore.

..................................................................

Mad Cow Fear Sends Restaurant Stocks Down  


  

Wednesday December 24, 12:24 PM EST

By Lauren Weber

NEW YORK (Reuters) - Shares of restaurant companies fell sharply on Wednesday, a day after the first case of mad cow disease was detected in the United States.

McDonald's Corp. (MCD) stock was off 5.3 percent while Wendy's International Inc. (WEN) was down 4 percent, with several steakhouse chains suffering similar drops. Shares of beef and chicken processor Tyson Foods (TSN) were off 6 percent, even after the company said it was not affected by the case.

"This reaction was predictable. But if it stands as is, with one case, and the USDA makes efforts to shore up confidence, then I think this is a non-event on the consumer demand side of the equation," said Jonathan Waite, restaurant analyst with McDonald Investments. The investment company is not related to the restaurant giant.



The impact may be brief if the disease is contained quickly, analysts said.

McDonald's on Tuesday said its supply chain is not linked to the case of mad cow disease, a brain-wasting disorder, which was discovered in a single cow in Washington state.

"The meat packer in question has no connection whatsoever to McDonald's supply chain," the world's largest restaurant company said. Even so, it lost about $1.7 billion in market capitalization in the first few minutes of trading.

Wendy's followed suit with a similar statement on Wednesday.

Analysts expect a short-term dip in the stocks of restaurants that are heavily dependent on beef, like the burger makers and smaller steakhouse chains like Outback Steakhouse Inc. (OSI) and Rare Hospitality International Inc. (RARE), operator of LongHorn Steakhouse restaurants.

TURKEY BURGER, PLEASE

But some analysts said there could be a long-term benefit for restaurants as beef prices slide from recent highs.

Japan and South Korea, the top two buyers of U.S. beef, along with several other countries, halted imports.

"That will increase domestic supply, which is good for pricing," said Matthew DiFrisco, analyst with Harris Nesbitt Gerard.

UBS analyst David Palmer considers the mad cow scare a stock-buying opportunity, given that import bans could send beef prices down 20 percent or more, he wrote in a research note.

"The likely beef cost decrease could prove particularly propitious for Brinker, which has significant exposure to rising beef costs in 2004," he wrote. Brinker International Inc. (EAT) owns the Chili's Grill & Bar chain.

The wild card is consumer response.

DiFrisco noted that fears of a mass rejection of products in the news often turn out to be overblown. "American consumers tend to believe what they hear, and if they hear that it's not in the food supply, you probably won't see a drop-off in demand," he said.

But investors are betting that many Americans will opt for turkey and chicken instead of beef, at least for a while. That sentiment sent shares of Pilgrim's Pride Corp. (PPC), the No. 2 U.S. poultry producer, up 8 percent.

Gary Karp, a vice president at restaurant consulting firm Technomic, predicted "very, very minor and temporary attention to this" from consumers.

[ Last edited by whitepig on 25-12-2003 at 05:01 AM ]

no problem, they'll ride over it.

cheers

Acong

Happy New Year SFE...........! The more, the merrier! Ekekeke!

The Gathering Storm
By Sherman H. Skolnick
SkolnicksReport.com
skolnick@ameritech.net
12-31-3


Some who have clapped their ears (or hearing aids!) to the ground, contend they sense "a storm a'coming". If your hearing is good, maybe you already have heard the advance rumblings while standing upright. There certainly are possibilities to consider for the year 2004 and beyond, such as:
  
===the possibilities that there may not be, in 2004, a Presidential Election conducted, if at all, in the manner many Americans have come to expect. Our discussion of such a subject in 1999, on numerous radio talk shows, in advance of the year 2000 Election, was widely heckled and condemned.
Some continue to contend, however, that the year 2000 situation was simply stealing the White House by way of a 5-judge Military-Style Junta on the U.S. Supreme Court. That George W. Bush has been installed, not elected, as the occupant and resident of the White House by judicial fiat. And his opponent has been the actual elected U.S. President BUT NOT INAUGURATED. [As to the corruption of some of that 5-judge high court majority, in the litigation "Bush versus Gore", view our website story, with attached documents, "Coca-Cola, the CIA, and the Courts, parts 9 and 10.]
  
===As can be seen on our website, several years ago we raised the possibility that, because of financial and other dislocations, the U.S. Central government may be run by a special emergency panel of three, which we dubbed as a Troika, a take off on the Russian word for a wagon pulled by three horses. Late in 2003, a major network talk show, without referring to our story of three or more years ago, discussed the possibility of an emergency panel instead of a Presidency. [Yes, of course, we know that the U.S. Constitution does not provide for such an emergency panel. To understand the trend, study our website series, "The Overthrow of the American Republic".]
  
===the possibility in 2004 and beyond, that the U.S. Treasury will actually repudiate the bonded debt of the U.S., that is, default on the U.S. Treasury securities consisting of Treasury Bills, Treasury Notes, and Treasury Bonds, bought and sold in the secondary market. Throughout world history, nations sooner or later failed to make good on the bonded debt of their Central Government. A related possibility is that U.S. Treasury paper may collapse to as little as 75 cents on the dollar, and the yield thus may skyrocket to as much as 16-1/2 per cent. Have you forgotten what happened similar to this in 1980-1981 as to U.S. Treasury paper? (Amateurs on finance mistakenly think I am referring to U.S. Treasury Savings Bonds, such as have been series E, H, and such up to this date.)
  
===With the possibilities of actual interest rates shooting up like a missile, there has to be considered what some assert is an on-coming real estate collapse. After all, the residential real estate market is the only free market, not a monopoly , in the U.S. Some senior citizens remember even their elders referring to the mortgage company as the "devil". "We have to work day and night and pay-off the mortgage. We have to get 'the devil' out of this house", a warning apparently not up-dated for more current generations.
  
Since when are the mortgage sharks the friend of ordinary people? Where is all that mortgage money coming from, with some of it from off-shore? Is it possibly criminal loot laundered into loans? The monopoly press never tells us. Does anyone remember what an upside down mortgage is? That is, where the market value of the house falls BELOW the mortgage? In past business cycles, this led to the widespread abandonment of heaviliy mortgaged residences. Some left notes, "Hey, Good Bye Mortgage Company. Here is the key. Nice knowing you." (Under an assumed name, some bought, for cash, a similar residence nearby at twenty per cent or less of their current mortgage.)
So you think Fannie Mae, Freddie Mac, and Ginnie Mae, are securities guaranteed by the U.S. Treasury? See our website series on "Sucker Traps". Some radio pundits, who we prefer to call "fakers", like Bob Brinker, seem to lead the listeners to falsely believe that such securities, although originally set up as private enterprises encouraged by the federal government, are actually underwritten against loss by the supposed "Full Faith and Credit" of the U.S. Treasury.
  
The bulk of the newspapers have heavy Sunday real estate sections, with highly profitable advertisements and loaded with filler, being puff pieces and pictures hyping real estate.
  
The only accurate news about residential real estate, unfortunately is detailed in small type in newspapers, of rather limited circulation, catering to lawyers, such as the Chicago Daily Law Bulletin. Some in and out of the law trade read the current page after page of foreclosure notices and refer to them sarcastically as the "Property Casualty List", dead and dying single family dwellings and many foolishly-purchased "condominiums". Cynics call buying a unit in an apartment building instead of renting, as buying your landlord's troubles and paying a prosperity era price.
  
===Is there a stock market collapse coming upon us soon? Currently, Establishment shills and media con-men, are claiming the market is headed for the sky. Really?
  
===more than merely a possibility, that the government figures on unemployment are a bitter fraud, masking widespread hardships of commonfolk.
  
===and a possibility that some States, bankrupt and getting no help from the Central Government, may become the Breakaway States of America. [Scroll way down our website for an article on this posted several years ago.]
  
To those who may find interest in our website stories, we wish a Happy and Healthy New Year. Being realists, we have suspended wishing others a "prosperous" New Year which may have to be postponed for a decade or so, since business cycles have NOT been cancelled.
  
====================
  
Mr. Skolnick's articles on judicial corruption, political murders, and crimes of the banks and such, are on the website <http://www.skolnicksreport.com/>www.skolnicksreport.com

NYSE up, SADAQ up, everything up. Hallelujah!
I don't see any downturn.

happy new year... and god help us all.

Originally posted by SFE talk at 1-1-2004 01:27 PM:
NYSE up, SADAQ up, everything up. Hallelujah!
I don't see any downturn.

only if measured in monopoly money and usd terms, you fool! you'd be seriously out-of-pocket if you had invested in nyse or nasdaq stocks using real money (meaning euro, yen, gold, etc).

You remember that RM is pegged to the USD, if USD is not rela money, RMmust be worst. Hahahahahahahahahahaha...................

cheers

i keep my networth in gold dinars, thank you!

hahahahahahahaha........................ too bad your Msia isn't and if USD collapse so will Msia.

cheers

And your RM is pegged to this debt ridden currency. Good luck.

cheers

khinzirputeh: with that kind of indebtedness, had the us been an east asian nation, the imf would have been wheeled in to prescribe the bitter pills. but the us has the technology to handle this - namely the printing press!

[ Last edited by putablade on 4-1-2004 at 12:20 AM ]

not true, the US economy is more robust and dynamic than you can imagine.
Just watch out for the Msian economy, 40% of your GDP competes with China, that explains for the loss of FDIs for the past 3 years.