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"The Greatest Depression" Under Way - Gerald Celente

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posted on May, 17 2009 @ 07:23 PM
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reply to post by wonderworld
 



Originally posted by wonderworld
Most of us know that printing money and spending our way out of a recession has never happened before.


Hi wonderworld. We need look no further than the short-circuited recession of March 2001 - November 2001. Greenspan responded by slashing and holding short-term interest rates @ historical lows for a 3yr period...blowing an immense bubble in credit/housing (consumer spending)...for which we're paying an exponential price as I type.

The "Greenspan Inflation" was successful...agree , the Bernanke Fed has a much greater task at hand.


GL



Friday, March 1, 2002
U.S. Consumers’ Spending Increases Bringing Economy Out of Recession
By Warren Vieth
LOS ANGELES TIMES -- washington

Americans are spending their way out of the recession, the government said Thursday as it released figures showing the economy expanded at a 1.4 percent rate during the fourth quarter of 2001.

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posted on May, 17 2009 @ 08:25 PM
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reply to post by OBE1
 


Yes the the Bernanke Fed has a tougher job and that is an understatement.

We could easily see 20-25% annual inflation and in a year or 2 jump to hyperinflation, that is my worst fear.



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