The tone of MSM economic articles are far more severe lately. The predictions are about the most bleak that I've seen.
Reuters: Soros sees no bottom for world financial "collapse"
"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."
"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.
1 comment:
Oh my God! I read this and it's my post for Sun. Scary as hell when Soros and Volcker agree things are FUBAR. The comparison though to the collapse of the Soviet Union is what really caught my attention. I don't think people in this country have any idea how calamitous that collapse really was. The weird thing is the same policies that finished of that country were the very ones that 15 yrs. later are finishing us off. Milton Friedman and the boyz @ the Chicago school of Depression causing economics had a major hand in both disasters.
The world-wide collapse though is what 's so troubling this time. No sector, no country has escaped so far. Except of course the so called health vampires.
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