8 Steps to a Trillion-Dollar Meltdown

Foreign Policy ^ | April 2008 | Charles R. Morris

[hripka]

How did the U.S. financial crisis happen? A review of the road to ruin reveals a course littered with more villains than heroes.

No, it’s not the Great Depression, but the United States is facing a nasty economy-wide retrenchment following the excesses of the 2000s, with no easy way to dance through it. Think 1979 to 1982, when then U.S. Federal Reserve Chairman Paul Volcker exorcised consumer price inflation from the economy. The difference today is that the inflationary explosion has been absorbed by prices of assets—houses, stocks and bonds, office buildings—rather than by the prices of things you buy at the store. Here’s how it happened.

[RightWhale]

A $ trillion is walking around money anymore.

[Enchante]

A trillion $$ here, a trillion $$ there..... one of these days we might be talking about real money.

[glorgau]

A trillion here, a trillion there... pretty soon you’re talking about a lot of money.

Next thing you here, someone’s going to say that Social Security and Medicare are in trouble.

[Perdogg]

Despite all of these problems caused by the govt, these people still cannot get away from their Crystal meth known as government.

If people have to find apartments because they bought too much house, so be it.

What used to be the “market” is now an economic crises.

The Dollar can make a comeback if we increase investments in this country by lowering corporate and individual rates.

At least one of the candidates has proposed this, no it isn’t Bob Barr.

[Zuben Elgenubi]

We have two senators running for the president, the chief executive. I’m sure either one will be able to talk, talk, talk these financial problems away, in the grandest tradition of the Senate.

[Need4Truth]

“Leverage soars. Financial sector debt, household debt,”

oops, forgot government debt. it’s much worse than in 1929.

“No, it’s not the Great Depression, “

why not?

[razorback-bert]

Bank shareholders and executives made extraordinary financial gains during the 2000s. Now that their Ponzi scheme has been exposed, they are demanding that the public absorb much of their losses, and the Federal government has been responding with huge showers of money.

What else is there to say.

[Gritty]

It’s getting time to invest in more beans and lead...

[montag813]

8 Steps to an American Depression:

1. D
2. E
3. M
4. O
5. C
6. R
7. A
8. T

[Seruzawa]

You forgot the corollary:
R
E
P
U
B
L
I
C
A
N
S

[Wolfie]

As long as we keep thinking that the “other guy” is at fault, and “our guy” had nothing to do with it, we’re screwed. I suspect that’s just the way “both guys” want it.

[RoadGumby]

Wolfie, that is perhaps one of the more cogent posts I have read here in a while

[ViLaLuz]

“As long as we keep thinking that the “other guy” is at fault, and “our guy” had nothing to do with it, we’re screwed. I suspect that’s just the way “both guys” want it.”

I agree. We are being eaten alive by globalists.

[dollarbull]

Bank shareholders and executives made extraordinary financial gains during the 2000s. Now that their Ponzi scheme has been exposed, they are demanding that the public absorb much of their losses, and the Federal government has been responding with huge showers of money.

It's the old Rothschild formula of "privatized gains, socialized losses". The more things change, the more they stay the same.