Floyd Norris reports:
The S.& P. 500 has lost more than a third of its value in a calendar year only twice before, both during the Great Depression. It fell 41.9 percent in 1931, and 38.6 percent in 1937. The worst post-Depression year, until now, was 1974, when the index fell 29.7 percent amid the worst postwar recession the country has yet seen.
But this year, the index is down 45.5 percent.
Eric deCarbonnel says the Dollar Collapse Has Begun.
Bush regime manipulation of the stock market was exposed on CNBC recently.
“In 2006 a secret agreement was reached between Canada, Mexico and the U.S. on a common Amero currency as a new monetary unit. This could signal preparations to replace the dollar. The one-hundred dollar bills that have flooded the world could be simply frozen. Under the pretext, let’s say, that terrorists are forging them and they need to be checked.”
Chris Carey reports the Bush regime has now nationalized nearly 100 banks. Socialism, anyone?
The government is now upping the ante to $7.4 trillion, just in case the previous trillions weren’t enough to guarantee the coming hyper-inflationary disaster – which will lead to the political, social and economic collapse of the U.S.
And finally, the good doctor again reminds us:
We must remember that governments do not produce anything. Their only resources come from producers in the economy through such means as inflation and taxation. The government has an obligation to be good stewards of these resources. In bailing out failing companies, they are confiscating money from productive members of the economy and giving it to failing ones.