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We have based our economy on cheap oil. Gas is not going down. Those days are OVER.
I trust Warren Buffett a lot more than I do the talking heads at the Fed or Treasury. Whether you like him or not, he's been one of the shrewdest investors in American history. If he's concerned, we should be concerned, too. Geez, last week a columnist in the Wall Street Journal recommended --and he was not kidding-- that Americans stockpile food, particularly grains. In addition to his prediction of continued worldwide food shortages, which he believes will be felt here, he also noted dryly that the value of rice, wheat and corn is soaring when compared with your average savings account or T-bills. This comes as Costco and Wal-Mart are limiting the amount of bulk grains shoppers may purchase.
The degradation of our country after two terms of Republican control is virtually complete. Two unfinished wars, a military stretched to the breaking point, dollar at historic lows, China sitting on 40% plus of American debt, alienated allies and energized enemies, a national debt of almost $10 trillion, oil setting new records daily.
Boy howdy. And yet the really important issues this fall will be flag lapel pins and pastors. God help us all.
the US is WAAAAAY overdrawn, and the government keeps buying stuff... using OUR money.
isn't that fraud??
http://www.huffingtonpost.com/2008/04/28/brent-...
Is there any nutritional value in Wrigley's chewing gum?
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probably not... but its cheaper than real food.
Things are getting so bad in the UK that Gordon Brown will be lucky to finiish this year as the countries prime minister. There is also a growing awareness of the fact that markets are being managed. My long-suffering broker even accepts it now, after years of looking at me as you would at a dotty old aunt who claims to have seen Martians. He told me that he accepts that odd things happen particularly as Wall Street is about to open. He also said that the Bank of England is "taking day to day charge" of the banking sector. His sources tell him that at best only three UK banks do not need new capital. Also, recently the banks have withdrawn, in unison or perhaps by command, lending for the buy to let residential market here - a number of people think this was one of the more important causes of the rise in house prices - so it hardly sounds as if house prices are going anywhere, but down. The sense of unease is clear to see in the press, on the TV and in general day to day life.
Gordon Brown's popularity has collapsed and he has just had to reverse a tax decision which had hit lower earners to hoots of derision from all sides. There is talk of him being kicked out by his own MP's and his reputation as a successful Chancellor is disintegrating fast. It can only get worse until action is taken to face up to reality and sadly I cannot see how real incomes here are going to do anything, but fall and that means two things - more militant labour and more inflation. History never repeats itself exactly, but it almost feels like 1973 to me which was the year before the national coal miners' strike which set the scene for 26% inflation in 1976.
In the end, all of this suppression of gold and silver prices is pointless (apart from the theft which it causes) and simply is deferring facing up to the reality of the mess around us. I do hope that whoever ends up running the next administration in the USA will work out that the bankers, both the central and their cartel friends, have much to answer for.
http://news.yahoo.com/s/nm/20080428/bs_nm/usa_e...
Towards the END of the story.
-- > In response to questions about what he will do when the Bush administration ends next January, Paulson indicated scant interest in staying on if he was asked to do so. < --
This repulsive political hack not only destroyed what gains that were made in the last few years (little as they were) but now this moron is putting into place policies what could drive this country into a depression and he's not sticking around after Jan 09. Of course, a normal President would not of put this idiot in charge in the first place.
On a parenthetical note...does my memory deceive me, or was there not a man back in the late 1990's or thereabouts who predicted that the United States would experience a severe economic downturn sometime around 2008? Am I the only person who remembers this? If not, does anyone happen to remember his name?