PDA

View Full Version : Unraveling


411man
September 30, 2010, 09:55
Unraveling

http://financialsense.com/contributors/fred-cederholm/unraveling


" You see we have officially been in a recession (make that a depression) since the last quarter of 2007. Now we are being informed that the “economic dislocation” (What a lovely - and innocuous - way to describe our mess, don’t you TH*NK?) had ended July of 2009, well over a year ago. The Federal Government and the Federal Reserve Bank had sewn a few TRILLION here and there into the major money center banks, the investment banks, Fannie Mae and Freddie Mac, the US insurance giant AIG, and the US automakers. Not much – as in nothing – had been divided out to main street America – nothing except increasing the time to draw unemployment to 99 weeks! We have been, and are being inundated, with numbers, graphs, and stats that support their claimed recovery. Do you feel this first downturn of the 21st century is behind us? I sure don’t. Please read on.".