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It Has Started: Wall Street Is Preparing For A Doomsday Scenario Katya Wachtel Jul. 21, 2011, 9:15 AM If you're simply looking at their public statements, Wall Streeters seem to be alarmed about the debt crisis, but don't appear to be sliding into panic mode. In fact, they're just really good actors. Across the financial sector, many are preparing for a debt doomsday scenario, in which the U.S does in fact default, the New York Times reports. Firms are "taking steps to reduce the risk of holding Treasury bonds or angling for ways to make profits from any possible upheaval."...

The American people are broke. When 25% of the people have no income coming in and prices for basic goods continue to rise, there will be no upward movement in the economy. Consumers cannot spend, because they have nothing left – their incomes have been eliminated and so too has their credit. The only hope for growth is more easing by the Fed and more stimulus from Congress, but even that is masking the problem. We may see positive GDP growth as a result, as we have “officially” seen in recent quarters, but this is strictly a mathematical result of...

That giant whooshing, and humming, sound you hear are all the printers at the basement of Marriner Eccles getting refills and start the warm up process. Because according to the Fed Charles Plosser the Federal Reserve is actively preparing for the possibility that the United States could default. Which can only mean one thing: an immediate paradrop of millions of $100 bricks to every man woman and child in the US since as we all know by know Tim Geithner has repeatedly confirmed the Treasury has absolutely no default plans. None.

Deflationary Depression In America: The Double Dip Economic Recession Economics / Deflation Jun 08, 2011 - 07:33 AM By: Bob Chapman Wall Street seems to believe the waning recovery in the economy is only temporary and that further recovery is on the way. Such thinking can get you in serious trouble, unless QE3, or its equivalent, is on the way. It is on the way, as we pointed out 13 months ago. The economy cannot live and survive without it otherwise we could be looking at a minus 5% GDP for openers. Incidentally, there are those that believe that unemployment...