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No Street Cred - Too Little, Too Late
Those are not my words, so don't take my word for it. Go on, go see for yourself. We're headed for a fall. I didn't say we're there yet. I said, we're headed for .....a fall. According to Ben Bernanke, he has a mighty powerful outboard motor that'll get us back upstream real quick. I can't help asking myself if Bernanke knows just how heavy this boat we're on is ! His outboard motor just might turn out to be one of those nifty, quiet little trolling motors you see advertised on TV. What ? Never seen a TV ad for a trolling motor ? Well, to be honest with you for a change, you have no need to have seen an ad for a trolling motor before (insert word or words to complete this sentence if it bothers you). The same applies to recessions ......and depressions by the way.
What really gets my goat is how my Banking friends wouldn't have any part in a discussion about an iminent worldwide economic crash....last year or even last week. But this week....POW ! As if the same people invented the word CRASH, this word and subject is suddenly the talk of the town. I think they've been well trained (brainwashed) and in a serious state of denial, until just now.
What about you ? Still in a state of denial ? Don't take my word for it, go read Business Week. If you really want to know what the current situation is, look at what the world press is saying. Do a scroogle search for "Northern Rock" e.g. Remember Northern Rock ? Didn't Virgin step in to help them back on their feet ? Three words : it's not working.
