Thread: Entering the Greatest Depression in History

Entering the Greatest Depression in History

More Bubbles Waiting to Burst

by Andrew Gavin Marshall



Global Research, August 7, 2009
- 2009-08-06

Introduction

While there is much talk of a recovery on the horizon, commentators are forgetting some crucial aspects of the financial crisis. The crisis is not simply composed of one bubble, the housing real estate bubble, which has already burst. The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Indicators show that the next possible burst is the commercial real estate bubble. However, the main event on the horizon is the “bailout bubbleâ€

Read the news today and headlines are: we are starting to see the bottom of this lousy economy and politicians are celebrating.
[quote]As Economy Turns, Washington Looks Better Major policy makers during the financial crisis have included, from left, President Obama, Timothy Geithner, Lawrence Summers, Ben Bernanke and Henry Paulson.

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LinkedinDiggFacebookMixxMySpaceYahoo! BuzzPermalinkBy DAVID LEONHARDT
Published: August 7, 2009
WASHINGTON — What if in the end they got it right?

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Times Topics: Economic Stimulus | UnemploymentWhat if, amid all their missteps and all the harsh criticism, the people in charge of battling the worst financial crisis since the Great Depression — Ben Bernanke, Timothy Geithner, Lawrence Summers, Henry Paulson and the rest — basically succeeded?

It is clearly too soon to know for sure. But the evidence is now pointing pretty strongly in one direction: history books may conclude that the financial crisis of 2008 turned out to be far less bad than it could have been and that Washington deserved much of the credit.

The Labor Department announced Friday that the economy lost fewer jobs in July than in any month since before Lehman Brothers collapsed last fall. Credit markets no longer look anything like they did after Lehman’s collapse and are in considerably better shape than just a few months ago. Stocks are up almost 50 percent from their March low. “It’s over,â€

Ok,when you read the story it says Washington law makers are celebrating and as you read down the columns it says we are still in dee deep troubles. So why are they celebrating? from what i see they have not headed off anything and have increased our debt many times over. And still want to spend more money!

I wonder if I could go out today and go shopping and keep writing checks,although I have NO MONEY LEFT in the bank. But,hey, I still have checks left and a lot of them!

BTTT