UNBELIEVABLE. Let them go belly up...I DON’T UNDERSTAND THIS.
Easy. They are flailing and floundering trying to hide the fact they are bankrupt. The only way they can continue the insane Socialist programs of the last 50 years is printing money and borrowing from anyone foolish enough to loan them money. No chance of ever fulfilling the obligations with tax revenue. Simple ain’t it.
Lords of Finance: The Bankers Who Broke the World, Liaquat Ahamed
In December 1930, the great economist Maynard Keynes published an article in which he described the world as living in “the shadows of one of the greatest economic catastrophes in modern history.” The world was then 18 months into what would become the Great Depression. The stock market was down about 60%, profits had fallen in half and unemployed had climbed from 4% to about 10%.
If you take our present situation, 16 months into the current recession, we’re about at the same place. The stock market is down 50 to 60 percent, profits are down 50 percent, unemployment is up from 4.5% to over 8%.
Over the next 18 months between January 1930 and July 1932 the bottom fell out of the world economy. It did so because the authorities applied the wrong medicine to what was a very sick economy. They let the banking system go under, they tried to cut the budget deficit by curbing government expenditure and raising taxes, they refused to assist the European banking system, and they even raised interest rates. It was no wonder the global economy crumbled.
(excerpt)http://www.freerepublic.com/focus/news/2414946/posts?page=3#3
....just another version of things, frightening really the lies...