Top 10 Reasons we are Doomed

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Top 10 Reasons we are Doomed

By Brett Arends, MarketWatch

BOSTON (MarketWatch) — The last financial crisis isn’t over, but we might as well start getting ready for the next one.

Sorry to be gloomy, but there it is.

Why? Here are 10 reasons.

Wall Street's grim future

Wall Street is hit by another round of layoffs. What will a post-Dodd Frank Wall Street will look like?

1. We are learning the wrong lessons from the last one. Was the housing bubble really caused by Fannie Mae, Freddie Mac, the Community Reinvestment Act, Barney Frank, Bill Clinton, “liberals” and so on? That’s what a growing army of people now claim. There’s just one problem. If so, then how come there was a gigantic housing bubble in Spain as well? Did Barney Frank cause that too (and while in the minority in Congress, no less!)? If so, how? And what about the giant housing bubbles in Ireland, the U.K., and Australia? All Barney Frank? And the ones across Eastern Europe, and elsewhere? I’d laugh, but tens of millions are being suckered into this piece of spin, which is being pushed in order to provide cover so the real culprits can get away. And it’s working.

2. No one has been punished. Executives like Dick Fuld at Lehman Brothers and Angelo Mozilo at Countrywide , along with many others, cashed out hundreds of millions of dollars before the ship crashed into the rocks. Predatory lenders and crooked mortgage lenders walked away with millions in ill-gotten gains. But they aren’t in jail. They aren’t even under criminal prosecution. They got away, scot free. As a general rule, the worse you behaved from 2000 to 2008, the better you’ve been treated. And so the next crowd will do it again. Guaranteed.

READ MORE -> http://www.marketwatch.com/story/the-next-worse-financial-crisis-2011-07-06

Edited by admin on 11/08/2014 - 06:05

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An epic lack of foresight, accuracy and humility over 3 1/2 years ago. Once a pumper, always a pumper!
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tmosley
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lol, well, for number one,

lol, well, for number one, Barney Frank didn't cause the other housing bubbles.  That was due to their own dumb politicians following our example, and playing the infinite free money game.

And on number 7, he is correct that Obama is just like the last few douches that have been in office, but that doesn't mean that he isn't a socialist/communist/facist.  The others were too.  

Other than that, I agree.

TexAsh
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20 Warning Signs Of A Global Doomsday

20 Warning Signs Of A Global Doomsday

Complete story from Bloomberg

Excerpt:

According to Oxford Analytica, there are fifteen ”Global Stress Points” ranging from medium to extreme high impact to the entire world.  These are listed below ranked by its potential impact by Oxford (See Graph). Around 60% of the “stress points” are related to geopolitics, war or unrest, while only about five events could be classified as financial crises.

  1. Dollar Collapse
  2. Taiwan / China Armed Hostility
  3. Israel / Iran Armed Conflict
  4. Mexico State Hollowing
  5. Global Protectionism 
  6. Latin America Hydrocarbon Disruption
  7. Iraq State Institutions Collapse
  8. Russia Military Aggression
  9. End of Euro
  10. India / Pakistan War
  11. Pakistan State Collapse
  12. Argentina Sovereign Default 2.0
  13. North Korea Military Conflict
  14. War in North Africa
  15. Lebanon Civil War

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