Sunday, November 1, 2009
A repeat of the Great Depression
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 (1422 views)
7 thoughts on “A repeat of the Great Depression”
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fallingbuzzard says:
Dead on the money.
alan says:
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!
fallingbuzzard says:
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
bystander says:
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.
fallingbuzzard says:
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.
fallingbuzzard says:
This is a fair list but outdated and incomplete:
http://bailoutsleuth.com/2009/01/citigroup-inc-new-york—-1/
andrew says:
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.