CathInfo.com

A Complete And Systemic Breakdown
 
Posted: July 16 2008
Second largest bank failure in US history has been duly noted, with a repeat bailout like Bear Stearns,  paying down debts still the better plan, PPT supplies another miracle rally for the Dow, but we fear they only delay the inevitable, Fannie and Freddie collateral now Toxic Waste, liquidity drains now wide open, watch for the downward spiral

What you are witnessing is the acceleration of a complete systemic breakdown of the US and world financial systems and economies.  It is happening right before your eyes.  It is in your face.  The Scylla and Charibdis of real estate finance, Fannie Mae and Freddie Mac, which are currently in possession of, or have insured, over 5 trillion dollars worth of mortgages, a good portion of which are nothing but toxic waste, have imploded and will now be nationalized in the most egregious example of moral hazard in the history of the world.  As this socialism for the rich transpires, IndyMac Bank has gone up in smoke.  This is the second largest bank failure in US history and the largest such failure in over 23 years.  Adding insult to injury, 10% to 20% of the FDIC's insurance reserves have just gone up in smoke along with IndyMac just as the hundreds, and what may eventually turn out to be thousands, of bank failures that are anticipated get started in earnest.  What does that leave for future failures if only one bank failure wipes out a fifth of the FDIC's reserves?  Next up on the chopping block may be Downey, First Federal, Wachovia and Washington Mutual, which are not small fry by any means.  Mattresses and freezers may soon be the savings vehicles of choice for those who can't afford a home safety vault as Depression Era mentality becomes the psychology du jour.
 
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/A_Complete_And_Systemic_Breakdown
 

People posting (Church) unapproved, and unauthenticated information!

 :faint:

Now for an approved source:

"1 For thy judgments, O Lord, are great, and thy words cannot be expressed: therefore undisciplined souls have erred. 2 For while the wicked thought to be able to have dominion over the holy nation, they themselves being fettered with the bonds of darkness, and a long night, shut up in their houses, lay there exiled from the eternal providence. "

"10 For whereas wickedness is fearful, it beareth witness of its condemnation: for a troubled conscience always forecasteth grievous things. "

And in another place:

"12 For who shall say to thee: What hast thou done? or who shall withstand thy judgment? or who shall come before thee to be a revenger of wicked men? or who shall accuse thee, if the nations perish, which thou hast made? 13 For there is no other God but thou, who hast care of all, that thou shouldst show that thou dost not give judgment unjustly. 14 Neither shall king, nor tyrant in thy sight inquire about them whom thou hast destroyed. 15 For so much then as thou art just, thou orderest all things justly: thinking it not agreeable to thy power, to condemn him who deserveth not to be punished.

16 For thy power is the beginning of justice: and because thou art Lord of all, thou makest thyself gracious to all. 17 For thou showest thy power, when men will not believe thee to be absolute in power, and thou convincest the boldness of them that know thee not. 18 But thou being master of power, judgest with tranquillity; and with great favour disposest of us: for thy power is at hand when thou wilt. 19 But thou hast taught thy people by such works, that they must be just and humane, and hast made thy children to be of a good hope: because in judging thou givest place for repentance for sins. 20 For if thou didst punish the enemies of thy servants, and that deserved to die, with so great deliberation, giving them time and place whereby they might be changed from their wickedness: 21 With what circuмspection hast thou judged thy own children, to whose parents thou hast sworn and made covenants of good promises? 22 Therefore whereas thou chastisest us, thou scourgest our enemies very many ways, to the end that when we judge we may think on thy goodness: and when we are judged, we may hope for thy mercy."

October Revolution, anyone?  This is the time of year for the "high holy days" of the most insane men the world has even seen.  Thankfully, it is also the month of the Most Holy Rosary.  I just love coincidences. :wink: