I see the dollar collapsing to the point where the price of anything in US dollars becomes meaningless. We’ll all be using Yuang or Euros.
Good article.
mark
Well opinions are worthless without money behind them...If you believe the market will decline, please tell us how much you’ve shorted the market??? Give us details with dates and $.
Perhaps the purpose of all of this is to force a global currency standard.
I don't know why not. It just seems like there's nothing behind the market. And it also seems like the Dow has a Fairy Godmother. Even today, it seemed to be struggling to get back to 10,000 at the close, although it didn't quite make it ... under very light trading.
Bank failures Top 100, Only Part Of Industry Woes
By DANIEL WAGNER, AP Business Writer Daniel Wagner, Ap Business Writer – 4 mins ago
WASHINGTON – The cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests.
Dozens, perhaps hundreds, of other banks remain open even though they are as weak as many that have been shuttered. Regulators are seizing banks slowly and selectively — partly to avoid inciting panic and partly because buyers for bad banks are hard to find.
Going slow buys time. An economic recovery could save some banks that would otherwise go under. But if the recovery is slow and smaller banks' finances get even worse, it could wind up costing even more.
[snip]
As long as the Obamaman gets to enjoy his waffle, why worry? All is well!
http://www.youtube.com/watch?v=zDAmPIq29ro
Like most liberal garbage, he blames the financial crisis on lack of regulation. There is no mention of CRA and the sub prime mess the government created.
..."we’ve had a disastrous banking and financial crisis. That was in part due to poor regulation and supervision of financial institutions.
He goes on to say...
Roubini: I don’t believe in market discipline. It doesn’t work. That was the ideology of the last 10 years; self-regulation means no regulation.
Plan to read more carefully later.
Light, world wide Weimar behaviour. Nice, real nice. /sarc.
Don't worry, be happy. Obama will have the middle class pay for it.
Roubini destroys his credentials as an economist. There IS NO recovery. I work for a multi-national, and have contact with many regions. Trust me, there is NO global recovery.
Er ist voll mit schiess.
Whatever... look at a chart of oil prices for the past 5 years. And this guys claim to fame is that he predicted the fall of oil prices when they were at 145? A lot of people knew that was coming....
This all fits with an economic prophecy I heard last year.....to beware, the so called recovery would crash worse than ever here. She said after receiving it that she checked with others and found out she was not alone in predicting this. I am sailing along, spending less and less as the Obama administration acts, I withdraw. Scary times.
happy days