Kevin Phillips Lays It Down: The Real State of the US Econo

[mulder]

Great interview. Highly recommended.

http://www.pbs.org/moyers/journal/09192008/watch2.html

 

[BlahBlah12]

Kevin Phillips is an absolute genius. I read his book American Theocracy, one of the best books I have ever read. This guy was so on point on where our country was headed long before the financial collapse. Hes an educated Nostradamus who uses the past to assess the future of America.

I have his followup Bad Money right in front of me as I type, I started it yesterday

 

[mulder]

This is an absolute must read....

http://www.portfolio.com/news-markets/n ... reets-Boom

Spread this wide and far

 

[The Gardener]

John Whitehead, former chairman of Goldman Sachs, assessment of the situation:

http://www.reuters.com/article/Finance0 ... HT20081112

Deflation is here.

 

[The Gardener]

I never considered the effects that dollar liquidity shortages would have on international trade, this article was a real glass of cold water in the face:

http://londonbanker.blogspot.com/2008/1 ... trade.html

International trade grinding to a halt. Globalization slowly unwinding. If this continues, it could get pretty nasty. I hate to say this, but I am increasingly having a very difficult time finding ANY differences between what is occurring now, and what occurred in 1929. And we all know that the events of 1929 inevitably brought us to the dark days of 1932.

The ONLY main difference I can surmise is that back in 1929 the US was a net creditor nation, with large reserves. In 2008, the US is a net debtor nation, with little to no fiscal room for manouever. I'm not sure if this is a good thing or a bad thing, as I think expansive fiscal policy as practiced by FDR might not have been an optimal policy in the longer term.

http://afp.google.com/article/ALeqM5h5D ... 18tTu1A4kg

 

[Starseed]

This is an absolute must read....
http://www.portfolio.com/news-markets/n ... reets-Boom
Spread this wide and far

Excellent.