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Stock Market Euphoric Over Ongoing Recovery from Great Recession; Credit Ratings Indicate Ongoing Crash into Great Depression. Which is it?
Today’s news gave rise to outspoken hopes that the Great Recession is ending … again. This seems to have the whole world excited, except me. The stock market is soaring this morning as the U.S. Federal Reserve and the European Central Bank announced an agreement to loan U.S. money to European banks at lower rates. Jobs [… Read More]
Look at what happened while I was out to play! Here I was openly wondering, as I set off for a vacation, if my prediction was going to prove accurate about the European crisis going global sometime in October and taking the U.S. economy under. While I was on vacation, I deliberately avoided all news. [… Read More]
Well, the German fat lady (Chancellor Angela Merkel) did sing, but her song rang hollow, and she was unable to sustain the final note. That’s because Greek Prime Minister George Papandreuo, gave her a sucker punch during her final note. Papandreuo suddenly switched his part from leading man to playing the fool by doing something [… Read More]
I warned in an article posted here two days ago that the plan for the European Economic Crisis left a lot to be desired and that market enthusiasm for the plan, as it sent the market into convulsions, was as meaningless as … well, sex in a whorehouse. Such euphoria is just what happens there. [… Read More]
We have seen it many times before in the last couple of years: dark weeks of gloomy economic news day after day — nothing actually fixed in the economy — yet suddenly the bulls explode into the marketplace over a mere glint of sunlight. We have particularly seen the running of the bulls with respect [… Read More]