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06/29/2010

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Bill Mcdonald

I agree with you our situation is as dire as the 1930's. And the average
person is sleepwalking, unaware they are about to go right over the parapet.

But what can the average person do, other than to try to save up money and
and supplies for the times to come? Their elected officials are all part of the plan, so to speak, and inaccessible without some real "palm greasing".

It really isn't looking good.

Btw, I have twice tried to sign up as a follower via type pad with no luck.

Bill Mcdonald

Greg Pinelli

Everyone is entitled to their opinion...usually I find Dave's worth the while..everyone is not entitled to their own set of facts. Quantitative easing works when two things are present...
First...Debt levels by borrowers allow further indebtedness...
Second...the Fed CAN later tighten without bringing the house down...
Neither of these prerequisites exist...Not only can the banks NOT shovel loans out the door..they are scared to death to even try.
A debt implosion is in the works..deflation is going to be a way of life. Jacking around the money supply might sound clever..but it's beyond working.

agog

"We expect that the US economy has entered a prolonged and steep decline that could reduce real GDP by 20 percent or more over the next several years with no immediate prospects for recovery."
Jim Rickards (p. 18 in pdf link at Jesse's Cafe Americain. It is a 42 page document and well worth the time.)

Also, it's "Wolf". I really don't understand why Martin Wolf is widely regarded as being "brilliant". Maybe it is in the same way Larry Summers is "brilliant". I suppose we are expected to shut up and defer to our betters. It has certainly worked well so far.

jaggedben

"Long Depression, whatever that means"

The Long Depression was the financial depression that began in the 1870s. Is 2010 akin to 1931, or to 1875?

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