With the shutdown of several major hedge funds, and the closing of American Home Mortgage (and now the possibility of Countrywide Home Mortgage shutting down as well), the economic outlook does not look good at all. Add to that the central banks of many countries (U.S., Canada, the EU, Japan, and Australia, to name a few) pumping in billions of dollars/euros/yen into their local markets each and every day to keep the economy afloat only compounds this.
Here is an eye-opening article:
Quote:
Economic Expert: We Are Already In An Engineered Recession
50% chance there is going to be a 1929 style economic depression as pretext for regionalization, globalist interests
Steve WatsonInfowars.net
August 15, 2007
Alex Jones was joined on air yesterday by investigative journalist, economic expert and Harvard Doctor of Political Science Jerome Corsi for an in depth discussion on the state of the economy and the engineered decline towards regionalization and a globalized monetary system.
Corsi warned that the crisis in the stock market we are currently witnessing is simply the tip of the iceberg and part of an overall meltdown that represents a gutting of the United States by neo-mercantilist institutions bent on the formation of a new global monopoly.
“We’re gonna go through Stagflation, which is basically stagnation and inflation. We are already in a recession, it just hasn’t been publicly declared yet. I think it will deepen through the rest of 2007 into 2008. Corsi stated.
“It’s going to last several years, it’s largely because we’ve lost so much of the manufacturing to China, even when our currency tanks, there are no exports we are producing anymore that will gain. The currency is gone, it is being sold off very quietly, worldwide, by the oil producing states, by China, the Euro is increasingly becoming our foreign exchange reserve currency.
The primary indices of inflation have been taken out of the indexes, food is not in and neither is energy prices. These two are going up hugely right now and are going to continue to go up.”
Corsi warned that this is going to be the formula for producing the Amero, a continental solution to the tanking of the Dollar.
Listen to the entire eye opening interview here.
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Link to rest of article here