Sunday, Nov 01, 2009

A repeat of the Great Depression

Forbes: Be Prepared for the Worst

As the housing market fails to return to any sense of normalcy, commercial real estate begins to collapse and manufacturers produce goods that cannot be purchased by debt-strapped consumers, the economy will falter. That will go on until we come to our senses and end this wasteful government spending.

Posted by devo @ 08:31 PM (1388 views)
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7 Comments

1. fallingbuzzard said...

Dead on the money.

Sunday, November 1, 2009 08:56PM Report Comment
 

2. alan said...

Interesting to compare this against Hamish McRae in the Independent who writes with a banking VI view.
Link:
http://www.independent.co.uk/news/business/comment/hamish-mcrae/hamish-mcrae-quantitative-easing-must-end-soon-the-question-is-what-happens-next-1812636.html

McRae advises buying houses as interest rates are not giving a good return on cash. A low return may be better than a loss, in my view!

Sunday, November 1, 2009 10:05PM Report Comment
 

3. fallingbuzzard said...

I know that name. I saved an article by him from June 2008, still available online:

http://www.independent.co.uk/opinion/commentators/hamish-mcrae/hamish-mcrae-the-days-of-low-interest-rates-are-over-844171.html

Sunday, November 1, 2009 10:25PM Report Comment
 

4. bystander said...

Wasn't the FED supposed to issue a list of banks who have been given TARP money, or is this request by Bloomberg still wrapped up in the legal system??? Politicians 'request' it.....bankers discuss it.......the people would like it, but TRANSPARENCY is obviously too much to ask for.

Monday, November 2, 2009 06:42AM Report Comment
 

5. fallingbuzzard said...

Well Bloomberg won out the Fed has appealed against the decision. I think even if the appeal fails every FOI request ever put to the Fed will come back with the reply "The information does not exist in the form you requested". Even the AIG bondholders ended up getting 100% when they wanted to negotiate for 40%. The scale of the financial goings-on is mouthwatering.

Monday, November 2, 2009 08:31AM Report Comment
 

6. fallingbuzzard said...

This is a fair list but outdated and incomplete:

http://bailoutsleuth.com/2009/01/citigroup-inc-new-york----1/

Monday, November 2, 2009 08:33AM Report Comment
 

7. andrew said...

To the point,

"It can come only from taxpayers, from sales of Treasury debt or through the printing of new money. Paying for these programs out of tax revenues is pure redistribution; it takes money out of one person's pocket and gives it to someone else without creating any new wealth."

Say no more.

Monday, November 2, 2009 09:22AM Report Comment
 

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