9.09...Simply the Beginning
It is really funny how Fools try to compare where we are right now to The Great Depression....
Sorta like comparing Wayne Gretsky when he was 10 years old to Gordy Howe after he retired.
The DOWNTURN hasn't even really started yet....we have delayed it by running $2 Trillion dollar deficits keeping 100,000,000 Americans out of food lines and off the streets.
Again, I am amazed the the arrogance of some Fools who think we can sustain such a massive deficit against a such a HIGH BASE OF EXISTING PUBLIC AND PRIVATE DEBT while tax receipts and incomes are collapsing without the prospect for improvement in the foreseeable future absent starting WW3 or restructuring debt.....(now there is a thought)
Right now we have half of America working to support the other half directly or indirectly dependent on government spending to survive....this is simply unsustainable without massive restructuring.
Now we are just beginning to see the fallout.......
Car Sales Down 50%
New Home Sales Down 80%
Steel Sales Down 60%
New Private Commercial Construction practically non existent after October of this year.
Tax Receipts evaporating......and we havn't even left the starting gate.
We have seen residential Sub Prime implode and it almost collapsed the system...now we are about to face the implosion of Residential Prime (4X Bigger), Option Arms, Interest Only, Neg Ams, CRE, Commercial and Municipal Debt etc......
Here is where the fun begins and it begins in 9.09......the START OF ALSTRYNOMC'S ZOMBULATION NATION.
I hope you enjoyed the trailer.....now the show is about to begin as the layoffs, wage cuts, and bankruptcies are just starting to get rolling........hang on and fasten your seat belts......assume the position as the bailed out and heavily bonused bankers tighten credit and raise interest rates creating an environment for default NEVER seeen before in economic history.
You think what we just went through was significant.....Fools you ain't seen nothing yet as we begin in 9.09 and the Ponzi nature of our economy becomes clear.