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That said, can reckless speculation be halted or will it continue unabated, followed by greater boom and bust cycles until the entire system implodes in an inevitable collapse after which no recovery is possible and most people are left impoverished and on their own because government did nothing to stop it.
Judgment Day
On September 15, Bloomberg News quoted Fed chairman Ben Bernanke saying "....from a technical perspective the recession is very likely over at this point...." The dominant media agree, with commentators like CNN's Lou Dobbs stating months ago that the economy was improving and the recession would soon end. Others disagree, including former insider Nomi Prins saying:
"This economic cycle is not finished going downward. We are in the beginning of 2009. We've seen a decimated 2008. It's not getting better anytime soon."
According to economist Max Wolff:
"Sadly there is evidence that we're going to flush our tax dollars and our opportunity down the toilet to rebuild an unfair system that rewarded only the top at the expense of everybody and was fundamentally unsound."
Longtime market analyst Bob Chapman sees no recovery ahead "even with an official $23.7 trillion committed by the Treasury and the Fed....(Yet) we hear fairy tales of recovery in the US, Europe and Asia." Chapman sees the worst of times ahead and many dark years before returning to normality.
Leading monetary analyst Professor Tim Congdon explains that money and credit in America have been contracting at a pace comparable to the Great Depression. "There has been nothing like this in the USA since the 1930s. The rapid destruction of money balances is madness."
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