Monday, January 21, 2008

U.S. Economy Headed For Depression? Record Consumer Debt Level Points The Way

I've said this for years: the United States Credit System is the shock-absorber to economic fluxuations and when healthy guarantees constant growth in the economy and guards against a long-term recession or worse, a Depression.

But that party's coming to an end, rapidly. Take a look at these indicators presented by MarketOracle.uk: US Recession in 2007 - Third Leg of the Bear Market Likely

In 2004 I told Gary Hart, who was considering a presidential run, about this. All he could talk about was changing the tax system. Geez!

1 comment:

  1. Anonymous7:18 PM

    Reagan lied. The economy died. I’ll take the word of my 95-year-old mother who called me last night screaming, “Goddamn those Republicans, they’re at it again!”

    There is something to be said about experiencing events first-hand - especially 95 years of experiencing them.
    ------------------
    Muthu

    Credit Card Debt

    ReplyDelete