Posted on 02/18/2009 9:10:32 PM PST by seven.sixtwo
Economic Meltdown Deepens: Worst Since 1933
A situation designed by the govt. to seize TOTAL control.
This is our Reichstag!
well if they keep bleating “depression, catasrophe, economic collapse” they might just get what they want so badly.
fear mongering at its finest, and he’s not a republican
Economics / Credit Crisis 2009
Feb 18, 2009 - 12:26 PM
By: John_Browne
Last week, when Congress passed its $787 billion stimulus package, the size of the plan caused many observers to forget the water that has already passed under the bridge. Fewer still are wondering what havoc will erupt when all this liquidity eventually washes ashore.
The latest spending, signed into law yesterday by President Obama, came on top of $300 billion committed to Citigroup, $700 billion for TARP 1, $300 billion for the FHA, $200 billion for TAF and some $300 billion for Fannie and Freddy. Just over the last six months, which excludes the initial Bush stimulus and several massive, unfunded Federal guarantees, nearly $5 trillion has been committed by the government to the financial industry. Rational observers cannot be faulted for concluding, despite Administration claims to the contrary, that the government is merely throwing money at the problem.
Although the rhetoric has managed to convince many observers of the possibility of success, the gold market appears to clearly understand the implications of this unprecedented spending.
The feeling that the government has no idea how to proceed has created palpable panic. In response, pragmatic investors are seeking the ultimate store of wealth. In 2009, as has occurred countless times throughout history, that store will be stocked with gold. Thus, whether the Federal government's interventions will succeed or fail will be anticipated by the price of gold. Right now, the market is screaming failure.
[snip]
I hope you are wrong. But, if we look at history we know that people are capable of anything. All of us better keep our eyes open.
With all due respect, we haven’t seen anything yet. Remember the 70’s? Double-digit inflation, unemployment, and interest rates, gas rationing, gas lines...
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