Feb 10, 2008 1:28 am
By the time the “meltdown” completes in 2011 the history books will say:
The DJIA hit its all-time high during the afternoon of Oct. 11, 2007 of 14,279 before dropping to 5,711. Still no bottom in sight.
***Update 11/6/2008: Low so far is 7,773.71 on Fri., Oct. 10, 2008, a drop of 45%. [check it now]
The S&P 500 hit its all-time high of 1,565 on Oct. 9, 2007. It’s lost 65% since then.
***Update 11/6/2008: Low so far is 839.80 on Fri., Oct. 10, 2008, a drop of 46%. A 65% drop would = 547.75. [check it now.]
Gold launched to $3,300/oz.
Unemployment is the worst since the Great Depression.
Just as The Great War was renamed World War I after the advent of WWII, the Great Depression was renamed Depression I.
The upcoming presidential elections of 2012 mark the 32nd consecutive year either a Bush or Clinton has been on the ticket. Most Americans still don’t understand the last time they had a choice was Nixon vs Kennedy. Since then, the elite have chosen whom you choose.
***Update 11/6/2008: Obama/Biden win election, Hillary stays home. This prediction is wrong. Now, if Obama picks a Treasury Secretary who used to work for Goldman Sachs or JPMorgan Chase, the elite are still pulling the strings.
Hyperinflation killed the US dollar, Canadian dollar, and the Mexican peso. It was pre-meditated murder courtesy of the central banks and the money power.
25% of all US banks became insolvent.
Earth has experienced the worst solar flares in recorded history, temporarily knocking out the nationwide communication grid.
Expect this to occur on Nov. 11, 2011 (11/11/11) give-or-take 90 days. Effects will include the untimely loss of a communications satellite, impairment of the east coast electrical grid, re-routing of international flights to avoid the north pole, GPS problems. See real-time Solar Storm index here.
See also Cap’n! R Shields R Down!
Fannie Mae, Freddie Mac, Morgan Stanley, Bear Stearns, and other major financial institutions were crippled by the implosion of OTC derivatives in 2008. Now they’re owned by Arab, Asian and Russian interests. (And we thought we won the Cold War.)
***Update 3/17/2008: Looks like Bear Stearns died early: 3/16/08
***Update 8/29/2008: Looks like Fannie and Freddie are on the ropes: 8/28/08. The US Gov’t has taken them over.
***Update 9/16/2008: Lehman Bros died yesterday. Merrill Lynch in trouble, bought out by Bank of America.
***Update 9/22/2008: Goldman Sachs and Morgan Stanley get emergency approval to become “real” banks. Now they’re eligible for Gov’t bailout loans.
Derivatives also claimed the lives of Bank of America, JP Morgan Chase, Wachovia, HSBC and Wells Fargo. The FDIC went bust attempting to insure angry depositors.
***Update 9/29/2008: Wachovia and Washington Mutual die (the largest bank failure in history).
Ford, GM and Chrysler are no longer US corporations.
***Update 6/01/2009: GM files for bankruptcy today, the largest industrial bankruptcy in US history. Chrysler, already in bankruptcy court, gets a judge’s final approval today for its sale to Italian car maker Fiat.
Homeowners around the country scramble to pay their real estate taxes and homeowner’s insurance. When their mortgage lender went under they lost their escrow–the taxes and insurance were never paid.
Homeowners and credit card users are forced into bankruptcy. The lending institutions are so desperate for cash they exercise their contractual right to call in an entire loan for immediate payment once a single monthly installment is missed.
One major US city is quarantined due to H5N1 (Bird Flu). Anyone inside the city’s beltway must stay there. The National Guard and private-sector security forces (AKA Blackwater) enforce the curfew and quarantine. Although unconstitutional, all firearms are confiscated. Looting increases.
***Update 6/01/2009: Looks like the Swine Flu scare in May 2009 was just a warm-up, not the real thing.
City and county tax revenues plummet. Public services are curtailed, included trash pickup, road maintenance, public schools and fire/police protection. Crime rate doubles.
Public roadways are converted to toll roads as states sell their infrastructure to foreign countries to raise revenue.
Retirees’ pension/social security checks kept coming but couldn’t keep up with inflation. Most lost their houses or apartments and had to move in with the kids, stressing marriages already brittled with financial woes.
“Tent cities” cropped up around the country. They are filled with formerly middle-class displaced citizens. Parents tell their kids it’s just a long camping vacation.
***Update 3/5/2009: Tent city in Sacramento, CA makes the front page of MSNBC.com: My “Tent City” Prediction Comes True
Bush 43 is convicted in absentia for treason for his role in the 9/11 attacks. Paraguay refuses to extradite him to the US.
We all learned to live more simply and forego unnecessary necessities.
When forced to choose between religion (“Who Would Jesus Bomb?”) and God, more and more of us chose God. Amen.
Related: Market Predictions for 2009-2010