I have posted a shorter version of this piece in several threads, so sorry if it sounds familiar to some freepers. But this unbelievable turn of events in late September and continuing to this day seems to be almost dismissed as just one of those things. It is incredible to me that the people we entrust to run the government aren’t just freaking out at the brazeness of this financial attack.
And that’s what it was - - an attack.
The funny thing about attacks like this one are that they are largely fueled by propaganda. “Bad news” easily becomes worse news, like a self-fullfilling prophecy. Wait until the retailers report Christmas sales this year. That snowball is already rolling downhill, and quickly picking up speed.
Maybe if things get as bad as many financial experts believe they will get - - ie., when reality bites the nation in the rear-end and masses of people are threatened with the loss of their homes and savings - - our elected representatives will wake the hell up.
FRegards,
LH
“when reality bites the nation in the rear-end and masses of people are threatened with the loss of their homes and savings - - our elected representatives will wake the hell up.”
No. They will rub their hands with glee, and nationalize everything they can. It’s the “New, New Deal”.
And it’s gonna be a bad, bad deal.
Please correct any misperceptions here (not a great background in economics!): I’ve been questioning all along exactly what our situation is, because initially I didn’t see indications at all of the widespread financial meltdown. It’s largely a matter of confidence, right? And I just didn’t see evidence of lagging retail sales, for example. It seems to me that we believed we were in recession only because we were TOLD we were n recession. No I guess there’s downturn regardless of how we started out. Was it manufactured?