Crisis en EUA!

Para todos aquellos interesados en lo que está sucediendo con la economía de EUA, les recomiendo leer el blog de Gary Fong. Les copio lo que menciona hoy al respecto:

Right now, the Federal Reserve Bank is rapidly trying to inject money into the financial markets because the banks are in trouble. They are in huge trouble, and the government is trying to print money and they're considering another emergency rate cut to stimulate the economy.

I have never EVER seen more stupid leadership in my entire life. The consumers and homeowners have run borrowing to the limit- and they cannot pay back the loans. Now jobs are vanishing, fuel is at record prices (which makes inflation take off) and the fed is printing more US dollars because the banks simply cannot lend. With massive write-downs of bad debt, the banks are in trouble. There are a record number of bank closures.

Everybody is spent out! In New Hampshire, Connecticutt and Rhode Island, the average credit card debt per person was over $15,000! Will they pay these balances back in their lifetimes? Not when you keep sending them new credit cards. And here's the next thing:

Banks are going to reduce your credit card spending limits. They're going to have to. So your $2,500 credit limit card is going to shrink to say, $1,500 limit. When that happens, spending will REALLY stop and there is going to be an unbelievable halt to spending.

Sharper Image and Bombay Company have gone bankrupt. Walk around the malls these days, and you'll notice they're eerily quiet, with many stores being boarded up. Each time a company goes bankrupt, lenders lose the money they lent, and people lose jobs. The people who are losing their jobs couldn't afford to pay the mortgages of their homes anyway because of the credit crisis, and soon their credit card limits are going to decrease or banks are going to stop allowing charges on these cards.

So the Federal Reserve (in an election year) is going to choose higher inflation and a plummeting dollar in a LAME, STUPID ASS attempt to increase spending. Do YOU want to increase YOUR spending? Inflation is going to take off out of control because the U.S. dollar is losing value against other currencies. This is a reason gas prices are going up so much - WE IMPORT our oil and the U.S. Dollar is becoming worth less and less every day. Oil prices affect everything from food prices to - well, hell, everything - so fuel prices are going to skyrocket with travel prices, plane tickets, shipping costs.

Very very few in the financial press wrote about the great depression coming in 1933. Nobody saw it coming - except a few. I remember last year, in Vegas, I was sitting around with a bunch of my closest friends because somebody asked me what the coming year was going to look like, and I said real estate was going to crash - crash big, and it was when things were still flying pretty high.

The economy is on the precipice of a freefall. When my friend the bond broker told me that UBS Financial's experts were terrified because "we have no idea how low the bottom is going to be - it's unimaginable" - I can imagine it.

Thank goodness you elected a leader that is against abortion and stem cell research. He did nothing to stop those either after eight years of not even trying. Do most of you know that stem cell research no longer requires embryonic tissue? Did you know that Bush tried to nominate a pro-choice person to the Supreme Court?