Happy New Year. 2008 the year of the great recession, it's only a matter of time. Oil and Gold have hit their 1980 values.
Oil hits record US$100 a barrel on supply concerns
Gold price breaks 28-year record to hit new peak
And if you have forgotten the eighties began with an oil boom but saw global recession, the crash of the oil and gas markets and the largest crash on wall street, 1987, since 1929.
If this trend continues, stagflation could rear its ugly head, again
Oh yes and Reagan was President of the Free World. And like Reagan the Bush regime has spent America into recession. Analysts: Bush was big spender in early years in office
America now is officially for sale and the only folks able to bail out Wall Street are the Sheiks of Arabia and the Chinese.
SEE:
U.S. Economy Entering Twilight Zone
Purdy Crawford Rescues the Market
Sub Prime Exploitation
Canadian Banks and The Great Depression
Wall Street Deja Vu
Housing Crash the New S&L Crisis
US Housing Market Crash
Tags
asset-backed commercial paper ,, gold
homes, mortgages, housing, bubble, US, economy, oil prices, sub-prime mortgage, Wall Street, crash, recession,
1 comment:
Peak oil analysts were talking about $100 a barrel by the end of the year this spring. They have been proven right. Where, however, is the action on peak oil? Who - other than individuals , and not too many of them, are preparing for the eventual crunch?
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