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Questions About the Financial Crisis

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posted on Dec, 2 2007 @ 04:41 AM
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Questions About the Financial Crisis


globalresearch.ca

"The problem [of loan defaults] will be significantly bigger next year [2008] because 2006 [mortgages] had lower...standards."

Henry Paulson, U.S. Treasury Secretary

"The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens."

John Maynard Keynes (1883-1946)
(visit the link for the full news article)




posted on Dec, 2 2007 @ 04:41 AM
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This is a bit of a two part report session going on.

I've posted them in two parts to save having two posts on the same topic but with different replies.


Impending Destruction of the US Economy

Hubris and arrogance are too ensconced in Washington for policymakers to be aware of the economic policy trap in which they have placed the US economy. If the subprime mortgage meltdown is half as bad as predicted, low US interest rates will be required in order to contain the crisis. But if the dollar’s plight is half as bad as predicted, high US interest rates will be required if foreigners are to continue to hold dollars and to finance US budget and trade deficits.

Which will Washington sacrifice, the domestic financial system and over-extended homeowners or its ability to finance deficits?

The answer seems obvious. Everything will be sacrificed in order to protect Washington’s ability to borrow abroad. Without the ability to borrow abroad, Washington cannot conduct its wars of aggression, and Americans cannot continue to consume $800 billion dollars more each year than the economy produces.

globalresearch.ca...
this link for the above report in this post.


.

this is the link for the main report in first post.
globalresearch.ca
(visit the link for the full news article)

[edit on 2-12-2007 by Extralien]



 
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