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The S&P 500 lost 8.6% in June, the worst monthly performance since September 2002 when it lost 11%, and the worst June performance since 1930, when it slumped 16.5%.
The Dow lost 10.2% month-to-date, the worst monthly performance since September 2002 when it tumbled 12.4%, and the worst June performance since 1930, when it sank 17.7%.
Originally posted by ALightinDarkness
Originally posted by projectvxn
I'm beginning to think that you'd argue against the sky being blue, as well as find excuses for why it is actually purple and how we're all ignorant for not seeing it your way.
As you are one of the standard bearers for ATS group think and a spokesperson for neoliberalism, I find this humorous. Your the one who gets upset when someone doesn't agree with ATS group think propaganda.
I know..differing view points are not productive when your trying to perpetuate group think. We should all just agree the end is nigh and huddle in the corner (after we murder Bush with an axe to make you and your fellow Bush haters happy). No need to discuss.
[edit on 30-6-2008 by ALightinDarkness]
...Our debt problems today are of a magnitude so extreme that astronomers would be hard pressed to calculate them. By any rational measure our society is comprehensively bankrupt. From the federal treasury down to the suburban cul-de-sacs so much loaned money is either not being paid back, or is at risk of never being paid back, that the suckage of presumed wealth has passed through an event horizon out of the known universe into some other realm of space-time, never to be seen again in this realm. This would seem to be the very essence of monetary deflation -- money defaulted out-of-existence.
This condition is partly disguised by both the loss of credibility of US currency and real-world scarcities of oil and food, but the upshot will be something at least twice as bad as the Great Depression of the 1930s: people with no money in a land with no resources (with manpower that has no discipline), hardly any family farms left, cities that are basket-cases of bottomless need, comatose small towns stripped of their assets and social capital, an aviation industry on the verge of death, and a railroad system that is the laughingstock of the world. Not to mention the mind-boggling liabilities of suburbia and the motoring infrastructure that services it...