America 's Financial Apocalypse Heralds Decade Long Depression

[BadgerKid]

Stuff we all know, but worth reading.

http://www.marketoracle.co.uk/Article6256.html

[flamingdem]

1. Well I'm GLAD I partied it up over the Last Decade

Cuz the next one sounds like a bummer!

[DCKit]

11. I'm going to learn to make bathtub gin.

Happy times ahead for the resourceful.

[flamingdem]

14. My grandmother used to make beer in her bathtub!

Waaaay back when ... during prohibition.

[HowHasItComeToThis]

2. BBBUT BBBUT BBBUT THE MARKET WILL HANDLE IT

DON'T LOOK AT THE ROAD KILL

[CoffeeCat]

4. Tomorrow, we will repeatedly hear...

"Remain calm...all is well!"

Anyone who trusts anything the MSM says about financial matters--is trusting the PR arm
of the corporate masters.

Articles like the OP posted, tell the real truth. The talking heads are too busy propping
up the corporatists--for their bosses--who hob knob with these guys every weekend in the
Hamptons.

[tblue]

3. I'm reading it. OMG. OMG. OMG.

Thanks for posting.

[Aristus]

5. Check out this pic from the article:

The Chimp looks hopelessly out of his depth.

[Whoa_Nelly]

6. Will there be a market meltdown on Monday?

Do I need to stock up on canned goods, water, and maybe candles?
Maybe it's time to get a scooter instead of driving the car to and from work.


Seriously, though...how long before all the countries who hold the credit on the US will be calling in on their chips?

[Dr.Phool]

9. DJ futures are already down over 300 pts.

And some markets even opened up on Sunday to allow the wealthy and connected to unload all their toxic waste before everyone else.

Tomorrow's gonna be a doozy. And I don't mean Duzy.

[DCKit]

12. Their chips are worth, at best, 70% of what they were when the debt was purchased.

The real goal of Reagenomics is to inflate your way out of debt. Unfortunately, this bunch is just too damn greedy and has allowed the entire system to collapse. A total lack of impulse control.

[Selatius]

16. Today, the Dow dropped 504 points. It could be dubbed Black Monday if the week is horrible. nt

[gateley]

7. In less than eight years, he has managed to increase the national debt by 90%

We should use this. It's staggering and sobering. And frightening.

[Gregorian]

8. "America 's free market economy is really a socialist system for corporations. "

So conservatives called us socialists.

Now it's starting to look like the true reality of the situation is that the conservatives are the true socialists. No, that didn't come out right. I'm trying to say that had we used the liberal techniques early on, we would have been far closer to what conservatives wanted in the long run than where we are right now. Does that make sense?

We were called socialists. They wanted trickle down economics. Yet had they done things the way we proposed (don't ask me for specifics, I'm busy spouting my nonsense here!) we'd be spending far less bailing out the big companies. We spent more taxpayer money in the long run.

Yes, that's it. By doing things the conservative way, we actually spent more, and as a result will need to tax more.

I guess that's all obvious to everyone but me. Oh well, I'm posting it anyways.

[sicksicksick_N_tired]

18. Well, technically, corporate socialism is fascism because the masses are oppressed.

It's a stretch to apply socialism (equal distribution of social productivity) to corporatism because, in our corporacratic governance, social productivity is concentrated in the hands of a few. If anything, communism is more applicable because the government is engaging in redistribution of wealth (only, to the corporacrats).

Now, I will agree with those who characterize this administration as a "corporate WELFARE" executive. There is no doubt, whatsoever, that this administration is centrally concerned with the welfare of corporate mega-powers WAY OVER THE WELFARE OF THE AMERICAN PEOPLE. Yup. No doubt about that!

[magellan]

10. "Bush's largest gains have been with inflation...

...oil and food prices, debt, trade deficits, bankruptcies, foreclosures, and healthcare costs. If an assembly of the world's leading economic strategists were to design the most destructive economic disaster possible, they could not match the results of Bush's tenure."

IOW, it's real hard work being this much of a fuck up. Bush** makes it look easy.

[SammyWinstonJack]

13. For bu$h, being a fuck up IS easy. He's had a life time of practice.

[dana_b]

15. I hope Obama is studying up on FDR and the New Deal. n/t

[spelldmilk]

17. Thanks for the article, and the source.