It's Probably Nothing

You think it's just an odd coincidence that "doomsday preppers" is now a TLC show which regularly airs?

I'm not kidding when I talk about random people ranting about the government in supermarkets. They really do that. They do it in California, Arizona and Massachusetts to my certain knowledge because I was there watching them do it.

Hard to believe, but this is more or less exactly what POTUS and his merry crew had in mind from day one.

It's good to read the credit union is now carrying out it's lending function properly, and requiring borrowers to state the purpose of an unsecured loan.

US student loans aren't discharged by bankruptcy, but if these loans are paid off by personal borrowing, then the new loan can be discharged by bankruptcy. If the loan is unsecured, the lender will lose.

sub prime lending is now a thing of the past???

one can only hope so!!!!

NME666 Sadly, sub-prime lending is still going on, even accelerating, prodded by an implacable civil rights cartel in the DoJ.

The comments are very interesting. If the US implodes then Canada won't be far behind. We are not *THAT* immune to the elephant on southern flank. And living in Southern Ontario puts me in quite close proximity to the potential madness.

Overburdened Taxpayer at August 29, 2012 2:59 PM
Bang on.

That said, we'll be seeing a lot of motivated people showing up to vote for Mitt Romney.
Ballots before bullets.

Too bad. I mean, it didn't have to be that way.

While our neighbours to the south were squandering their future, Ontario - under the the brilliant economic policies of Dildo McDinky - kindly regulated us small business owners out of exsitence so that we can enjoy a green hereafter: a virtual chicken in every Korean-made solar-powered pot.

What I wonder is WTF does Obozo still have support? Was in N. Florida last month and would hear people spontaneously talk in public of getting rid of "the Kenyan" in the white house. Only saw Romney signs and the nice thing about Florida is that a very large chunk of the population has their CCW (as well as their rifles at home).

Having a large supply of food and a generator is always a good idea but still haven't figured out how to store gasoline and am looking at whether I should get a natural gas powered generator as the barbacue gas tanks are a lot more tolerant of sitting in the sun than gasoline in containers. Just have to look at the energy density of both.

If TSHTF in the US, spillover into Canada is inevitable. Where I now live the people aren't as well armed as in the US but nothing even close to the disarmed population of Vancouver.

Only thing I haven't figured out is how soon I'd get sick of eating canned chili as this seemed to be the simplest thing to stock up on.

The big problem in the US which, again, people mentioned spontaneously to me is the 50% of the population that are parasites. When the US government runs out of other peoples money, things will get very interesting.

Perhaps the best strategy for getting a loan now is to buy an afro wig and apply black shoe polish to ones skin liberally before walking into a bank and threatening them with a lawsuit if they refuse to lend to a single mother of 5 on welfare who wants to buy a house. That scenario would actually make an interesting hidden camera project.

Loki, gasoline has a higher energy density, but you have to stabilize it for long term storage. Easy to get, you buy it at Canadian Tire.

I was talking with an old friend yesterday and we both agreed that we are heading towards a world wide depression -- the trigger will be the collapse of the USA via the out-of-control spending.

In my humble opinion is if Obama wins, it will be within 2-3 years, if Romney wins, it may be 6-8 years from now. Either way it will happen. There is not the strength in congress & senate to institute the necessary change from either party.

There is a spending problem in the USA and they are fast approaching (if not already there) where there will be a point of no return which will eliminate any wiggle room to resolve the issue elegantly. It will not be pretty.

The American federal government is bad, but a large number of state & county governments are even in worse shape. It wreaks of a really bad ponzi scheme at the end of it's run.

The PIIGS (Portugal Italy Ireland Greece Spain) at least had Germany to help place it on the right track (once they seriously admit they have a serious spending/debt problem), but who has the depth to bail out the USA? China? Not very likely.

However it fails, it will not be pretty and thus is reflected in the anxiety reported in the linked article.

"I'd get sick of eating canned chili"

Loki,I'm sure you're a good person, but I wouldn't want to be sharing a shelter with you!
Just kidding. There are all kinds of places offering survival foods of every type, all less volatile than canned chili.

Teleprompter Jesus . . . says who gets to decide how you spend your money.

You just don't matter.

http://www.youtube.com/watch?v=fYnQnGZvPOU&feature=player_embedded

The current lot in power in the US do want to bring chaos and destruction to Ameerica BECAUSE THEY ARE SOCIALISTS! Socialists hate America.

Their plan is to destroy the place by building up the national debt like crazy, until the financial system (Capitalism) falls.

People are right to be worried. Who was that bitch in the US administration who actually WAS a member of the Socialist International? I used to be a Socialist, and I know what they think.

So NOW they are worried... buying guns and ammo...trying to figure out where it is all going?

The bleating of sheep.

I would feel more patience and concern for these "average" people if it were not for the fact that they probably voted Democrat or did not vote at all.

Two reasons to feel contempt instead.

The thing to be saying to those fools is "Get off your ass and start supporting people who will fight for the right things."

All throughout history, when times got really bad, a strong leader has emerged to promise better times for the downtrodden. A few that come to mind, and not all that long ago, Hitler, Stalin, Mao Zedong, Pol Pot, Mussolini, Sadam and a few dozen more. They all had opposition that was swept aside. Anyone that thinks this can't happen in 2012 and can't happen in the good ol USA or Europe or Canada or anywhere on the planet has learned nothing from history. Hope for the best but prepare for the worst has been good advice through the ages. Nothing has changed to ignore that advice. The first sign of trouble is usually the effort to disarm civilians. Keep your eye on the Bloomberg types to see how successful they are, as that is the canary in the coal mine. Obama is very receptive to Agenda 21. That should be a huge red flag, that seems to be completely ignored by the MSM. The freedoms we are losing for "our own protection" are another red flag, also being grumbled about but largely ignored. Perhaps Obama sees himself as that new strong leader. Time will tell, but red flags should never be ignored, and they are being ignored by generations that have no interest in history. After all....this is 2012.

Look at posts from before the 2008 election. Many on here knew this would be the result. Not because Obama was black. It was how hidden his life was. His Muslim upbringing , as well his Communist parents background. The fact he came out of no where. Finally the press would not investigate him but helped hide his whole past. Not least was the fact he threw everyone under the bus that didn't help him. The teleprompter use. Something stank. Now we live with the smell of this Presidents purposeful death of the Constitution, with the attendant decay of America.

Sorry, don't feel sorry for Americans ... not one tiny bit. They've all, but for a minority, enjoyed several decades of wealth based on easy money due to Fed pumping via low interest rates and lax lending. They are used to the easiest money on the planet ... but now the cookie jar has been taken away and kids are having a hissy.

I say, "No ... you can't have a loan unless you are willing to tell the bank exactly what you are going to use it for ... borrowed money is NOT your money".

US banks are in a desperate struggle to raise capital levels ... they have a fraction of what Canadian banks have and 90% would be in violation of Canadian rules ... and would be shut down. That's what sloppy governance, and incredibly easy money C/O the fed has created ... not to mention the stupid notion that "less" regulation makes for a better banking system. You've got to love US banking regs ... nothing but a smokescreen for Monster Banks to grow in.

The US is in for at least of decade of deleveraging; and that means US banks getting back to the old school ways of caution, and no loans to risky borrows without solid collateral to back them up.

Canadian banks are also tightening up; but Canadians are used to more intrusive and cautious banking practices so the tightening is hardly noticed. Sorry my US friends, the days of Lines of Credit for 120% the value of the your home are over.

fiddle: In the USA, most every penny lent out by banks is borrowed by the bank from other banks or the fed ... or run through a complex derivatives process to make money from massively leveraged positions.

In Canada it's done more the old fashion way, where depositors are a major source of funds, as well as tier one capital held directly by each bank. That's why Scotia Bank could just up and pay "cash" for ING today.

... I love canned chili...

fiddle: Are you talking Canada or the USA? American banks lend out at leverage rates in excess of 30 times. That's what brought them down in 2008 ... massive leverage via CDOs and other exotic schemes. Canadian banks are leveraged at only a fraction of that.

In Canada, depositors provide significant capital, as do shareholders and the banks own capital, in the US banks borrow almost every penny they lend out.

fiddle: "Banks can lend out more than ten times what they have on deposit."

Nonsense. Banks here in Canada and the US can lend only a portion of what is on deposit, somewhere in the 90 to 94% range.

The "ten times" ratio you reference is the multiplier effect, wherein most of the money lent out gets deposited again by someone, and as this is repeated, it eventually multiplies the original deposit by some factor of around ten times.