By Rand Clifford https://www.bestcyrano.org/THOMASPAINE/?p=1028 September, 2008, a month that will live in infamy. A month where official purring about our economy’s solid fundamentals have erupted into official bayings about economic collapse. Financial markets are suddenly so choked with “toxic debt” that only a hasty trillion-dollar taxpayer Heimlich Maneuver “might” get […]
Economics
Financial Bailout: America’s Own Kleptocracy The largest transformation of America’s Financial System since the Great Depression by Michael Hudson Nobody expected industrial capitalism to end up like this. Nobody even saw it evolving in this direction. I’m afraid this failing is not unusual among futurists: The natural tendency is to […]
By Jim Willie CB – editor of the “Hat Trick Letter“ Sep 12, 2008 More crucial than ever, observers must take the broader perspective that avoids overhearing the party on Wall Street. They know not what they celebrate. It is their demise. They rejoice over the collapse of mortgage bonds […]
“In 2008, Americans will wake up to the worst economic times that anyone alive has ever seen. And they won’t know what hit them.” — Gerald Celente, 17 December 2007 As Predicted, Economic 9/11 Hits Wall Street: Depression Next, Trend Seer Says RHINEBECK, NY 18 September 2008 — In 2007, […]
https://seekingalpha.com/article/90892-the-great-consumer-crash-of-2009 “It is easy to ignore the storm if you look at the opposite horizon. When the storm reaches your location there can be no more ignorance.” I hate to tell you, but the storm has reached your location and it is a Category 5 hurricane. The levees are leaking. […]
https://theinternationalforecaster.com/International_Forecaster_Weekly/The_Big_Sting_Two The plan for an economic takedown, the results of rampant market speculations, insiders picking up assets for pennies on the dollar, the coming hyperinflation, the credit crunch, collapse of the dollar carry trade, suppression of metals prices, American meddling in Georgia The Big Sting Two is now being implemented […]
by Mike Whitney | July 29, 2008 – 12:26pm The Bush administration will be mailing out another batch of “stimulus” checks in the very near future. There’s no way around it. The Fed is in a pickle and can’t lower interest rates for fear that food and energy prices will […]
https://www.marketoracle.co.uk/Article5594.html 1. Paulson appears on Face The Nation and says “Our banking system is a safe and a sound one.” If the banking system was safe and sound, everyone would know it (or at least think it). There would be no need to say it. 2. Paulson says the list […]
House of Cards You thought the housing crisis was bad? You ain’t seen nothing yet. By Danny Schechter The Mess 28/06/08 "LA CityBeat " — – Nationwide, two million homes sit vacant. Home sales are at a nine-year low. Former Treasury Secretary Larry Summers says that housing finance has not […]
https://2cents.dailyreckoning.com/ I had a very interesting conversation today with a friend who used to be a mortgage broker (until the company he started imploded) and now works at a bank selling REO property. Now, this is a guy who made millions flipping, and when I told him two years ago […]