View Full Version : America Was Conned

03-17-2008, 08:04 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Bear Stearns marks the moment when the global financial crisis went critical. Up until last Friday, it had been possible - just about - to believe that the worst was over and that things were about to get better. That pretence was stripped away when JP Morgan, at the behest of the Federal Reserve, stepped in when the hedge funds pulled the plug on the fifth-biggest US investment bank.

It is now clear that no end is in sight to the turmoil, and the reason for that is that the Fed and the US treasury are no closer to solving the underlying problem than they were eight months ago. The crisis will only end when house prices stop falling and banks stop racking up huge losses on their loans.

link (http://www.guardian.co.uk/business/2008/mar/17/economics.useconomy)

Inflation is set to go through the roof. Stock up now.

03-18-2008, 06:02 PM
Warning!!! Do not read further with a mouth full of coffee!

Not to worry...the Republicans will fix everything!. LOL

03-19-2008, 03:29 PM
Canada's dollar fell by the most this year as export commodity prices tumbled and investors speculated the nation's central bank will follow the U.S. in cutting interest rates.

``Commodities are falling off very hard,'' said Shaun Osborne, chief currency strategist at TD Securities in Toronto. ``People are getting out of commodities and by extension the Canadian dollar. The Canadian dollar will suffer in this environment.''

LINK (http://www.bloomberg.com/apps/news?pid=20601082&sid=ad.rLuKSDb_g&refer=canada)

Canadian stocks fell for the third time in four days as lower bullion, grain and crude-oil prices dragged down such raw-materials and energy producers as Barrick Gold Corp. and Suncor Energy Inc.

LINK (http://www.bloomberg.com/apps/news?pid=20601082&sid=aBBOLy_e57.A&refer=canada)

Canada's economy will contract in the first quarter as the world's eighth-biggest economy feels the effects of a worsening slowdown in the U.S., Toronto- Dominion Bank forecast today.

Gross domestic product will shrink by an annualized 0.4 percent for the period between January and March of this year, Canada's third-largest bank said in its quarterly economic forecast. The bank lowered its estimate for 2008 growth to 1.1 percent from 2 percent.

LINK (http://www.bloomberg.com/apps/news?pid=20601082&sid=awqN.sCp80KU&refer=canada)

Canada's days of bucking the U.S. economic downturn have come to an end, according to a forecast to be released today.

A projection for the Canadian economy by Toronto-Dominion Bank is expected to show that Canada's slowdown is happening at the same time and to the same extent as the downturn in the United States. It also projects that Canada will likely register a quarterly contraction before the U.S.

LINK (http://www.theglobeandmail.com/servlet/story/LAC.20080319.RCREDITINFLATION19/TPStory/Business)

Things are lookin' just ducky in Chum Land!! /ubbthreads/images/%%GRAEMLIN_URL%%/smile.gif