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View Diary: World Stock Markets Drop Like it's 9/11 this morning (42 comments)

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  •  Nothing can help now. We (4+ / 0-)
    Recommended by:
    ZappoDave, Joy Busey, LucyMO, reasonanyone

    too far gone. The next thing I expect to see is a mass sell off of dollars worldwide. We are depression bound.

    If you see me behind you..don't assume I'm following you. We just happen to be going the same way and if you slow down, I'll run over your ass.

    by TKH on Mon Jan 21, 2008 at 10:58:26 AM PST

    •  Why I'm so pessimistic (5+ / 0-)

      (1) Our $9 Trillion debt has placed this money in the hands of foreign corporations and governments.

      (2) Our manufacturing and financial institutions are being bought out with the money we've borrowed to prop up our economy.

      (3) There is NO reason the value of our dollar to get stonger, but every reason for it to continue downward.

      (4) The basic strength of our nation, which can stop a recession from becoming a Depression, doesn't exist.

      If you see me behind you..don't assume I'm following you. We just happen to be going the same way and if you slow down, I'll run over your ass.

      by TKH on Mon Jan 21, 2008 at 11:10:40 AM PST

      [ Parent ]

      •  In support of #3: (2+ / 0-)
        Recommended by:
        LucyMO, TKH

        Timbuk3 posted a comment this weekend that included a link to this chart that shows how the Fed has turned our currency into monopoly money.

        •  The fed has two choices (2+ / 0-)
          Recommended by:
          dharmafarmer, reasonanyone

          (1) Borrow more money.
          (2) Print more money.

          Either way is a losing proposition for Americans.

          Sooner or later (let's hope the former), SOMEONE is going to have to tell the American people just how bad our economy actually is and what must be done to fix it (if it can be fixed).

          There is not a candidate out there who is willing to be THIS honest with the American people, because he/she would never be elected to anything. But it has to be done and SOON, if there will ever be a chance for our country to survive.

          I'm talking survival as a nation here, not just fixing a problem. I feel it has gone beyond that, way beyond that.

          If you see me behind you..don't assume I'm following you. We just happen to be going the same way and if you slow down, I'll run over your ass.

          by TKH on Mon Jan 21, 2008 at 11:37:43 AM PST

          [ Parent ]

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