Don’t Panic! OECD Says things will only get worse!

| June 20, 2010 | 25 Comments



Jun 25, 2009 – recorded 8:00 EDT UK to sink further into red than any major country, warns OECD: www.telegraph.co.uk UK has ‘biggest’ hole in finances: www.thisismoney.co.uk Government debt: Thatll be £2.2 trillion, please: www.telegraph.co.uk Port jobs at risk as rates row escalates: www.telegraph.co.uk Latest Schultz Shock: a ‘bank holiday’: www.marketwatch.com China’s overdue credit-card debt increases: www.marketwatch.com Carney: Canada’s downturn has become as deep as that in US: www.financialpost.com World Bank snuffs economic rebound: www.financialpost.com FDIC Press Releases: 3 more banks went as of Friday, to bring the total to 40 this year… www.fdic.gov Banks rush to rescue of credit card trusts: www.ft.com Clinton Cards buys 196 Birthdays stores: business.timesonline.co.uk Clinton Cards buys back Birthdays: www.google.com You Are The Resistance!!! www.youtube.com Geriatric Gang Kidnaps and Tortures Financial Adviser: weinterrupt.com Pensioners ‘kidnap and torture’ financial adviser: www.telegraph.co.uk Onion Video: US To Trade Gold Reserves For Cash Through Cash4Gold.com www.youtube.com Gold standard on last leg?: news.google.com Gold Standard: www.econlib.org Peace and Love

Filed Under: UK Credit Cards

Comments

  1. OddThomas88 says:

    Interesting watching these videos. That OECD forecast for the UK deficit, for example, was a tad wrong. The UK deficit is now 10.2 per cent, or about 152 billion pounds – that’s a drop of over 30 billion pounds. Amazing what a little bit of growth in the economy can do.

  2. mdp393 says:

    This is such an awesome and touching video i almost cried…i love you, you should make a ton more videos

  3. jskaggs2008 says:

    If you gave your money to a financial advisor, invested in a 401K, or financed a house in the last 30 years, you’re an idiot. Don’t blame other people for your mistakes. These people couldn’t invest and couldn’t pull off something as simple as a kidnapping. Now that they’re in jail, they may finally realize they’re idiots. I’m an american and can confirm, if the television or an “expert” tells an american that the dollar is backed by gold, they will believe it.

  4. uwejuwe says:

    Have you heard that 19 state’s may have to issue IOUs and shutdown services? { /watch?v=DspwOJP9YeA }.

  5. catdog262 says:

    Very valid points !

  6. joe80dman says:

    Tell the UK not to worry. The American taxpayer will be obligated to bail them out, too. Just wait until the Bill gets voted on on the Senate floor. It will pass with overwhelming numbers!

  7. gorilla199uncensored says:

    You ran and blocked me when

    I said the bible states Adam was created 4004 Bc (Which is what the fiuundies agree)

    You just denied this fact

    I asked if you believed the ark story
    You didnt even bother to try and defned it!

  8. GODLOVESUSSOMUCH says:

    Yes sir! They’re are also way to many corrupt elitists who believe the ends they are seeking, they will actually accomplish, yet in some respect, their efforts must continue in order for all to be carried out accordingly with the great end result. Your comment is so true, and its so sad how many don’t know this, and even sadder to know how many do and don’t do anything about it, some even try and disprove it, which is almost beyond my comprehension. God bless and keep up the sincere efforts!

  9. theunknownknows says:

    We have criminals running huge organizations; gov’ts, corporations, research institutes, religious orgs, even the UN is utterly corrupt- and the prisons are filled to the brim. It’s lawlessness. Too many who believe the ends they seek for themselves justify any means.

  10. GODLOVESUSSOMUCH says:

    SO true! The best & worst can be done with the all useful tools, some tools being money, entertainment, internet, music, media, government, etc…yet the ordinary citizens have allowed to many “wrong” hands to be in control of these useful & potentially useful tools. Music can be used to bring people together or it can lead children into hatred, even murder through screaming of hateful and grotesque lyrics. Money can keep economies alive or it can kill them permanently when in the wrong hands.

  11. theunknownknows says:

    Sad to say, you’re not in the clear. In times past, those who owned nothing were sometimes traded as goods themselves…
    I own nothing, as well. Wonder how much I’ll go for at auction.

  12. theunknownknows says:

    Money is a useful tool, like a screwdriver. Put in in the wrong hands, and blood flows. Too many “wrong” hands now.

  13. GenXFuturist101 says:

    As far as I can tell, my request to the universe to remove “money” from the face of the earth has been granted. Fortunately, this will not be “the end” but FINALLY “the beginning” of ideal human endeavor.

  14. JFM135 says:

    Thanks Mike….your work is helping inform in a very selective and intelligent way.

  15. salahuddin786 says:

    The Germans produce cars etc – what does the UK produce? …. what I cant understand is why the UK ie performing better than the Germans? – the UK Financial sector has collpased for example

  16. roadhog1986 says:

    i just told george4title now i’ll tell you stop reposting videos im sick of seeing the same videos over and over

  17. xBabyDragonx says:

    Could you stuff any more bad news into 10 mins??!?? lol I’m thinking that they are piling on the bad news in an effort to get us to kill ourselves so that they might save some soon-to-be-needed bullets. I am so glad that I am about to be free of all my worldly possesions and debt….I don’t think I would be able to pay the tazes that the gov’t is about to nail us with. If you don’t owe/ own anything, then what can they do to you?? I learned from the Great Depression # 1 …!!! lol

  18. TheCZMan says:

    I dont know if you notice but the economy is based on the consumption of natural resources to kick in.
    Money is not a variable here. No more natural resources, no more economic process.

    Yes, the debt is owed to somebody but this debt will not be possible to pay back because of the depletion of natural resources. Is this that hard to understand?

  19. TheSharpenedPen says:

    Oh, it matters. What I meant of course is that the numbers become so astronomical that it becomes senseless to try & compare debt levels any longer; not that debt doesn’t matter.
    That debt is owed to someone, & will create a drag on the economy & the value of currency. Hyperinflation & unemployment have been chosen as payment methods, & pay we shall.

    Cap & trade has moved one step closer to passage, clearing the congress & will add 7 trillion dollars to the ‘acknowledged’ debt of 11 trillion.

  20. TheCZMan says:

    “you have no money, you owe everything you have, and there is no way in hell you’re ever going to pay it back.”
    Very well said. Debt does not matter because it wont be repaid. Debt is just an instrument to capture as much as possible of the surrounding wealth and take it as your own.
    When there is no more money, you own everything you have (debt helped to build this up to sky high levels) and there is no paying back the debt: you keep what you got.
    Well said…

  21. wetalmorker says:

    Amen! But the rest of the world is still dancing to our tune.

    When the music stops, there’s gonna be hell to pay!

    This could happen tomorrow, or maybe not for a decade or two.

    Our day of reckoning is not known, but we must realize that it is coming, and prepare accordingly.

  22. TheSharpenedPen says:

    Personally, I think the US takes it for nation most in the red hands down if it passes cap and trade into law and nationalizes health care. At some point though, all the minus digits become meaningless: you have no money, you owe everything you have, and there is no way in hell you’re ever going to pay it back.

    The news media is simply doing as it’s told to keep the people placated with dreams of sugar plums and recovery dancing through their heads, while all the signs point to something else.

  23. AnihiIus says:

    /watch?v=HkLLOH7qXPg
    /watch?v=G7X24_vOWwU

  24. Akrillix says:

    Keep these uploads coming Mike
    Much appreciated

    Martin Galtrey

    Google the name if u like photos or music….

  25. slam1na says:

    Paying Taxes is illegal (aiding and abbeting Genocide, ask a legal representative) there is NO LAW that allows for taxation of man hours (LABOUR) go check it, tell your local tax office and they cant deny it. DONT PAY FOR YOUR OWN DEMISE.

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