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Thursday, October 23, 2008
The Stark Choice Now Facing America - The Market Ticker
The essence of this article could also apply to the
United Kingdom

The Stark Choice Now Facing America - The Market Ticker
The truth is that our nation, and indeed the world, has too much debt for its ability to earn income and has had since 1968. As this became apparent to the people at The Federal Reserve and Treasury, in the 1980s starting with Alan Greenspan, interest rates were artificially kept low for a long period of time to encourage you and others to go into that debt - debt you and these firms cannot possibly repay.

This is why we had the crash in 1987, why LTCM blew up in the 1990s, why we had an Internet Bubble and now why we had a Housing Bubble.

All of these bubbles were intentionally created by The Fed, Treasury and Wall Street Banks to keep the charade alive that you could take on more and more debt and they could make more and more money.

We are now out of bubbles and ability to support bubbles, and America (and the world, in fact) is out of the ability to support more debt.

sketched by dweller at 2:36 pm
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