The Beginning of the End
Associated Press March 17, 2008
LONDON – Global markets plunged Monday on news that JPMorgan Chase, backed by the U.S. government, had to rescue troubled Bear Stearns and investors struggled to gauge how much worse financial markets could get.
“Its difficult to call where the bottom is,” said Richard Hunter, a broker at Hargreaves Lansdown in London.
Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
The head of the International Monetary Fund said Monday that the global financial crisis is more serious and more widespread than even a few weeks ago.
The “economic environment is still worsening,” said Dominique Strauss-Kahn.
Why are gas prices so high? Why are food costs so high? Why are all of your prices going up? Your dollar is being devalued. Gas is cheaper in Europe than it was a year ago. The euro is up against the dollar. Oil is purchased in dollars, so when your dollar value decreases it takes more of your dollars to buy the same amount of oil. And thusly it takes less euros to buy the same amount of dollars, making their oil cheaper.
What is the establishment solution? Print more money, send hundreds of dollars, printed out of thin air, to each citizen. What do you think inflation is? They print more money with no increase in “collateral” (which used to be gold, but now is basically just faith in the strength of the dollar and that’s not really collateral, is it?). The inflation of the money supply is the devaluation of the currency.
So printing money, bailing out companies and soon banks, lowering interest rates, and these damn checks you’re so fond of, are making the problem worse. All the tactics they are using to “help” the economy are sending us into an inflationary depression. The White House, Treasury, and The Fed all know this. They do this stuff for a living.
The question you must ask is, “Why would they purposely send us into a depression?” To find the answer, ask, “Cui bono? To whose benefit?”