Obama Warns of US Market Crash on Monday

Quote from bearice:

Ron Paul crushes Obama, Geither and Congress

In the video, Ron Paul addresses Congress and explains (1) the solution to too much debt is not more debt; (2) the US will default because our debt is unsustainable; (3) inflation is the worst form of default. He really hits a home run with this. Anybody who disagrees is hopelessly naive.

http://www.realclearpolitics.com/vi...efault_because_the_debt_is_unsustainable.html
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He's right. Unfortunately, a lot of his other ideas are just plain coo coo. I'd like to see someone like Ron Paul, but moderate to a point where they don't want to dismantle international agreements and bring the government back to the days of the Articles of Confederation, and untenable gold standard.
 
Re: OP. This is how the President gauges the crisis now? by predicting the stock market will crash on certain days? imo, Obama trying to blame anyone else except himself and his allies for giving into Nancy Pelosi's and Reid's socialist spending splurge, giving in to the banks who caused this mess, and trying to one-up Hillary and the Clintons with a mysterious passed Health Care bill. This guy is a very good forceful debater, a good winner of college debating contests, good speech technique from a teleprompter when he doesn't have time to prepare. But as president, he does not instill trust and hope. Just the opposite.
 
Quote from Betapeg:

I'd like to see someone like Ron Paul, but moderate to a point where they don't want to dismantle international agreements and bring the government back to the days of the Articles of Confederation, and untenable gold standard.
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Sell Fort Knox’s gold, some say. Asset sale urged to counter debt.

The United States may have run up a huge debt, but it is not poor. The federal government owns roughly 650 million acres of land, close to a third of the nation’s total land mass. Plus a million buildings. Plus electrical utilities such as the Tennessee Valley Authority. And the Interstate Highway System.

With the United States poised to slam into its debt limit today, conservative economists are eyeballing all that gold in Fort Knox.

There’s about 147 million ounces of gold parked in the legendary vault. Gold is selling at nearly $1,500 an ounce. That’s many billions of dollars in bullion.

http://www.journalgazette.net/article/20110516/NEWS03/305169957/1006/NEWS

Ron Paul: Sell The Gold In Fort Knox.

NEW YORK — The next big question on the federal debt limit could be whether to start selling the government’s holdings of gold at Fort Knox — and at least one presidential contender, Ron Paul, has told The New York Sun he thinks it would be a good move.

The report did not mention the possibility of selling the government’s holdings of bullion, though the 261.5 million ounces of gold the Treasury Department lists in its reserve position would, at a recent price of $1,492 an ounce, would theoretically fetch $390.2 billion. The Wall Street Journal reported Monday that a group of Republican congressmen supports the idea of selling gold.

http://www.nysun.com/national/selling-gold-at-fort-knox-emerges-as-next-big/87350/
 
Quote from MPike:

Market will crash when "they" want it to crash :D
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My sincere suggestion is that create short position or sell position for stock markets and carry forward the "sell position" till July 29, 2011.

“Major Crash” Coming for Stocks. DOW 3300: Harry Dent

The good news, for those long, is Dent predicts the Dow will trade as high as 13,200 by mid-summer and the S&P 500 as high as 1430, or more-than 7% above current levels. The bad news is "then we could see another major crash," Dent says, forecasting the Dow could trade as low as 3300 in a worst-case scenario. "Bubbles go back to where they started or a little lower," he says. "The stock market bubble started at (Dow) 3800 in late 1994."

http://finance.yahoo.com/blogs/dail...-commodities-already-20110331-080715-415.html

Billionaires Dumping Stocks, Fleeing Market

http://w3.newsmax.com/a/aftershock4/?PROMO_CODE=C490-1

Treasury Secretary Timothy Geithner threw a bomb at America’s financial future last night, saying he is “certain” another financial catastrophe is on the way and that there is no way of reaching agreement on the debt ceiling without increasing taxes on the wealthy.

And he blamed a combination of timid politicians and credit card-debt-ridden Americans, rather than Wall Street and the big banks, for the financial woes that have beset the country over the past three years.

http://www.newsmax.com/Headline/Tim...l/2011/05/18/id/396840?s=al&promo_code=C49A-1
 
Quote from bearice:

Obama is one of the biggest supporter's of Wall street and stock markets.
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The stock market went up over 2,000,000%... about 66%/yr compounded in Turkey, 1982-2005, For those "lucky" enough to have been fully invested for the entire ride (and not accounting for taxes)... they STILL LOST 98% OF THEIR BUYING POWER IN THE DEVALUATION.

Just before the devaluation in 2005, a cup of cafe coffee cost 3,000,000 Turkish Lira. After the devaluation, a cup of coffee cost 3 New Lira... the devaluation was 1,000,000:1, lopping off 6 zeros.

If the stock market goes up that much, inflation/currency destruction will destroy buying power.

Recalled from memory... look it up if you find this astonishing.

The stock markets increased 400% in Zimbabwe but the people of Zimbabwe were starving.

From ZeroHedge, 10/22/2008:

"While markets across the world have been crashing, the Zimbabwe Stock Exchange has being seeing record gains as citizens turn to equities to protect their money from the country's hyperinflation.

The DOW Could Fall 6,000 Points. Governments gone mad

http://www.businessinsider.com/howard-davidowitz-dollar-crisis-dow-6000
 
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