I'll take Kristen-gate over this any day!
There's dumb, then there's Federal Reserve/GW dumb. The difference is this: the first kind if pitiable. The second is truly terrifying.
I wonder just when a loaf of bread will cost $1 million, just like in ze good old days back in '23? It'd be funny if it didn't mean such things as widespread sector-based unemployment, reduced wages, savings funds not being able to cover the suddenly-rising cost of college, and yet further impetus for sending the US into yet more military "adventures".
Another story mentions the USD has hit "parity" with the Swiss franc for the FIRST TIME IN HISTORY... at this rate the Japanese yen and the US dollar will "reach parity" some time in 2009!
The downward ride has yet to truly begin. "The other shoe" is waiting to drop-- this summer, more subprime loans will re-set than did last year. And we are already about as low on our prime rate as we can get without devaluing the currency to the point is becomes "free" to borrow-- though if "Uncle Ben" keeps at it, inflation will do it all for him. Japan was in that condition in the 1990s and the only thing that kept them from collapsing economically was, you guessed it, the US dollar, which was doing well at the time and for which we traded Japanese yen so their money would start to be worth something again. Question is, who's gonna do that for the US? Europe? China? Not bloody likely. Repeat after me: "I will go buy euros and other foreign currencies. I will buy metals and metals stocks. I will buy energy stocks." Now do it, please, while there is still time!
Did you really think I would not post on this topic again? :)
Sat 3/15 update: Ides of March indeed! It's like a really bad dream but waking up from it is not going to happen any time soon. Ugh. More rate cuts expected...
There's dumb, then there's Federal Reserve/GW dumb. The difference is this: the first kind if pitiable. The second is truly terrifying.
I wonder just when a loaf of bread will cost $1 million, just like in ze good old days back in '23? It'd be funny if it didn't mean such things as widespread sector-based unemployment, reduced wages, savings funds not being able to cover the suddenly-rising cost of college, and yet further impetus for sending the US into yet more military "adventures".
Another story mentions the USD has hit "parity" with the Swiss franc for the FIRST TIME IN HISTORY... at this rate the Japanese yen and the US dollar will "reach parity" some time in 2009!
The downward ride has yet to truly begin. "The other shoe" is waiting to drop-- this summer, more subprime loans will re-set than did last year. And we are already about as low on our prime rate as we can get without devaluing the currency to the point is becomes "free" to borrow-- though if "Uncle Ben" keeps at it, inflation will do it all for him. Japan was in that condition in the 1990s and the only thing that kept them from collapsing economically was, you guessed it, the US dollar, which was doing well at the time and for which we traded Japanese yen so their money would start to be worth something again. Question is, who's gonna do that for the US? Europe? China? Not bloody likely. Repeat after me: "I will go buy euros and other foreign currencies. I will buy metals and metals stocks. I will buy energy stocks." Now do it, please, while there is still time!
Did you really think I would not post on this topic again? :)
Sat 3/15 update: Ides of March indeed! It's like a really bad dream but waking up from it is not going to happen any time soon. Ugh. More rate cuts expected...
posted by Matt Campbell at 12:51 PM
0 comments
