1 Fall of the British government. on Thu Jun 04, 2009 9:32 am
As we predicted, euro-land is in deep shite. Why? The USA has borrowed more money in the last 6 months than it has borrowed in the LAST 30 YEARS! Not only has Congress spent funds we don't have and must borrow,but the Treasury,as predicted,has been quietly buying up toxic mortgages and assets with money they can just print. Andria Merkel, PM Germany,has demanded that the borrowing stop. The huge sums held in foreign currency pools has become dangerously worth less. Stuart Varney predicts the fall of Brown in the UK in one week. Why? He has emptied their treasury and the value of held currency has fallen below parity. In other words "them dollars is worthless,your credit ain't no good anymore Great Britain,bring cash (Pounds). What cash? They must and will raise taxes as we must and will raise taxes (The Brits have always fully supported the Pound and will do so by raising revenues to put money in the bank) I'm no economist,but I think this "recession" is just beginning. The prime has hit bottom and is going back up. Competition for "real" money has begun.Employment,other than credit financed government employment, cannot and will not rise. All the promises made to the gullible will come crashing to the ground as the leaded bullshit they were. Empty gloomsaying? I hope so, but if this ends as badly as I think it will, I can be comforted in knowing it is all,somehow, Bush's fault. The Demos better hope the millions of unemployed believe THAT crap.
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