July 25, 2011

The Inevitable Financial Crisis

By Mike Razar
A mere three years after the last fake financial crisis, we are about to suffer an even bigger one. In short order we can expect to see Failure to raise U.S. debt limit, triggering Default on U.S. debt Downgrading of U.S. credit rating Greece, Spain, Portugal, Italy, Ireland, etc. default, triggering Massive European bank failures, triggering The death of the euro Massive U.S. bank failures The death of the US dollar China takes over the world economy. Professional economists admitting that maybe...just maybe...they have very little understanding of economics and finance.  They admit that for half a century their predictions have done worse than darts. Paul Krugman and Bobby Reich trying to reassure their embarrassed colleagues that if only the U.S. Treasury and the Fed had been more proactive, none of this would have happened. New draconian measures put in place to transfer wealth from those who earn it to those who regulate it. A new dark age descends on civilization....(Read Full Article)