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All the "technicals" of the market and the Federal government (and the California government) point to a massive economic collapse.
For example:
"1)The US dollar is battling for resuscitation after 9 consecutive down weeks -- down 9% since June.
2) US Treasury yields are making record lows on the short end of the curve, with 2-year yields striking 0.49%.
3) The yield spread (in this case the difference in return between 10-year and 2-year Treasury bills, which shows a long-term confidence when high) continues to collapse, down another 4 basis point day-over-day to 223 basis points."
Add to that the Democrat and Obama effort to allow a massive tax increase on January 1, 2011.
Then you have a trillion dollars spent to keep unemployment under 8%, actually creating almost 10% unemployment, "With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what's left if (or when) QE2 doesn't kick start GDP growth?"
Obamacare has backfired, insurance premiums are going up to pay for the "free" procedures. Plus $16 billion had to be given to the States, to pay for their extra health care costs due to Obamacare--that is borrowed money and more will be needed next year.
It is so bad that President Obama does not even pretend to have an approved budget--he got his "budget" approved by "deeming it" without showing what it is, any hearings, debates or votes on the document (which does not exist).
Forget a deep dip recession. We will bypass that and go straight into Depression. Get your Valium ready.
More...
For example:
"1)The US dollar is battling for resuscitation after 9 consecutive down weeks -- down 9% since June.
2) US Treasury yields are making record lows on the short end of the curve, with 2-year yields striking 0.49%.
3) The yield spread (in this case the difference in return between 10-year and 2-year Treasury bills, which shows a long-term confidence when high) continues to collapse, down another 4 basis point day-over-day to 223 basis points."
Add to that the Democrat and Obama effort to allow a massive tax increase on January 1, 2011.
Then you have a trillion dollars spent to keep unemployment under 8%, actually creating almost 10% unemployment, "With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what's left if (or when) QE2 doesn't kick start GDP growth?"
Obamacare has backfired, insurance premiums are going up to pay for the "free" procedures. Plus $16 billion had to be given to the States, to pay for their extra health care costs due to Obamacare--that is borrowed money and more will be needed next year.
It is so bad that President Obama does not even pretend to have an approved budget--he got his "budget" approved by "deeming it" without showing what it is, any hearings, debates or votes on the document (which does not exist).
Forget a deep dip recession. We will bypass that and go straight into Depression. Get your Valium ready.
More...