Wednesday, March 09, 2011

Nothing has Really Improved and Higher Prices are Here

Economic employment 'gains' are mostly massaged stats and temp jobs. The huge debt overhand is still there. The banks still are not recognizing losses. The housing market is still a mess. No bankers have been jailed. The FED keeps printing money and subsidizing the big banks who now control 80% of uS assets. The Federal government ran a February deficit that was equivalent to the entire 2007 deficit.

Now....

Add to it the commodity crack up boom of the last 6 months. Oil is over $100 again mostly because of devaluing the dollar and somewhat because of Middle East tensions. The economy in 2007-2008 could not handle $100 oil with 5% unemployment. How are we going to handle it with 10-20% unemployment? This will not end well.

Got gold and silver?

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