Thursday, May 22, 2008


MORE KOOL-AID, ANYONE?


"Flash forward: Real life, Washington, new leaders, a new Congress, old wizardry. Be forewarned: No matter who's elected president, America will soon see a massive statistical curtain pulled back, exposing a con game of historic proportions. And when that happens, you and I will suffer another ear-splitting global meltdown, bigger than today's housing-credit crisis, dragging us deep into a recession and bear market for years...

How bad is it? 'The real numbers ... would be a face full of cold water,' says Phillips. 'Based on the criteria in place a quarter century ago, today's U.S. unemployment rate is somewhere between 9% and 12%; the inflation rate is as high as 7% or even 10%; economics growth since the recession of 2001 has been mediocre, despite the surge in wealth and incomes of the superrich, and we are falling back into recession.'"

Megabubble Waiting for New President in 2009
'Numbers racket' exposes potential disaster for economy, markets
By Paul B. Farrell

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"Collapse is the risk now, and those words are no longer alarmist or poppycock. A major seizure is on the horizon, as prices have interfered with viability of commerce, especially internationally. Households face much higher costs just to arrive to work sites. Employers face much higher costs just to maintain profitability. Suppliers face much higher costs just to keep production lines flowing. Schools, hospitals, and other public facilities face higher costs in order to maintain function. The first failures and seizures will likely occur in California, where the greatest home loan abuses took place, where the biggest nastiest and most painful home price declines have taken place, where the biggest state government budget cuts have been ordered."
--Jim Willie

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UBS (NYSE:UBS) has told members of its former private banking team
responsible for rich US clients not to travel to America
.
Could get arrested for something, I guess.
Laws are such a pain in the bank.

3 comments:

Anonymous said...

I'll pass, thanks. One random thought and question that comes to mind -- Imagine what would happen if everybody, instead of voting for some leader, planted a single food-bearing tree.

Imagine.

ken

Bob Brady said...

Imagination is what it's gonna take... Hear hear... See, see...

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