United States Heading towards a Depression?

Wow this is some hevy stuff.

I'm from israel, right now the USD is worth 3.5 NIS (New Israeli Shekels) A year ago it was worth 5 NIS

 

naw , a republican idea would be to go and buy the biggest truck/suv possible with heloc loan , then maybe put a yellow sticker on the back or perhaps some bumper testicles

at least in Florida it would, it most areas of southern florida, they are totally anti-bike and pedestrian, you drive or you don't go, no matter how short the distance is, part of being a red state I guess

 

The Fed is not in the driver seat. Inflation in China is out of control and China will be forced to further revalue the Yuan.

China's consumer price index climbed 7.1% in January from a year earlier, accelerating from a 6.5% rise in December

Data released Monday showed producer prices climbed 6.1% in January

Tuesday's CPI data showed food prices climbed 18.2%

China's broad measure of money-supply growth, M2, expanded 18.9% on year in January

http://www.marketwatch.com/news/sto...x?guid={AE92EB65-2B95-45C5-848B-D160783E8345}

 

Here in WI and in nearby Chicagoland it's the other way around.. The libs are all driving the hummers, wasting fuel to drive 3 blocks and otherwise pollute any chance they get.

 

Thanks for the update Bogart. I always enjoy this stuff when you post it.

 

Jobless Report tomorrow along with the Philadelphia FED Survey.

They'll probably both blow.

 

It was humorous watching the financial news this morning before the reports. The talking heads were in a mini-panic mode predicting things like $50 plates of chicken wings & french fries.

Then they started pushing gold & their parent company's stock. I think the inflation is about to hit stock prices because they were telling people to stay away from it at all costs

 

Link courtesy of LRC Blog,


WORST FINANCIAL CRISIS SINCE 1931?
German State-Owned Banks on Verge of Collapse
http://www.spiegel.de/international/business/0,1518,536635,00.html

Excerpt

 

Duetsche Banks owns around 10% of Cleveland and has suffered a lot of losses. 70,000 homes have been forclosed on and a lot of the homes are becoming run down and abandoned. So it becoming a total loss.

Search on the internet there and you will see a lot of these homes selling for approx $10,000.

 

I figure HonDaddy, Bogart and WisdomTool will appreciate this article.

Very interesting.

Bernanke's Surprise
http://www.lewrockwell.com/north/north608.html

Excerpt

 

PhD in Economic History from UCR.

 

Dude, our government spies on us, tortures people, performs extraordinary rendition and on and on. There ain't much in the way of alarm bells going off on that. It's Saturday, people are going to the mall to shop, and stuff their faces.

Who cares what he says, or who he is? Look at his data. We need to learn to be able to analyze the data for ourselves. Relying on pundits is risky business.

I do know this though,. Gary North hates the FED and is no friend of Bernanke. In this article, he's basically admitting that Bernanke is very shrewdly trying to do the right thing by the economy.

 

Tough job for Bernanke. There are plenty of pundits in the deflationist camp.

http://globaleconomicanalysis.blogspot.com/

 

Nothing of the sort is happening, we would not even know of any of this if the media hadn't hyped up nothing and fed us these ridiculous made up stories. The economy overall is strong. There are a few weak points with housing and idiots not understanding credit cards, but that can be easily fixed.

Offer larger tax cuts for people who buy houses, and stop forcing banks to make high-risk loans.

 

We all wish it was that easy.