Folks, the reports below, which were unheard of even one year ago, indicate how serious the financial situation is getting for all of us. The ramifications of a collapse in the global finance system(s) are incredible.
A red flag for bank liquidity – BusinessWeek
UBS drops most in nine years on report of job cuts – Bloomberg
Money market rates soar; Fed signals depth of crisis – Bloomberg
U.S. Feb. industrial production down 0.5% – MarketWatch
Forget the spin - Bear Stearns was given away to calm markets – Ciovacco Capital
Fed fails to halt debt meltdown – Mish's Global Economic Trend Analysis
Oil hits record over $111 a barrel as dollar slumps – Reuters
U.S. future, Asian stocks, dollar decline after Fed rate cut, Bear Stearns sale – Bloomberg
Fed acts Sunday to prevent global bank run Monday – MarketWatch
U.S. losing confidence vote as investors flee – Telegraph UK
Australia, Japan company bond risk surges on Bear Stearns sale – Bloomberg
source: Dollar Collapse.com
The collapse of the dollar will lead to a worldwide scramble for the resource of most value, oil. There will be wars over oil-rich territories (Iraq has been only the first). Bush and his gang are likely to get their Armageddon after all.
Remember, this all started the day (Dec. 12th, 2000) the U.S. Supreme Court handed the keys of the White House to that band of rich thugs. This timeline summarizes what likely jumpstarted the inevitable collapse of 21st century civilization.
But, we're all responsible in the long run. We even re-elected him four years later. We sooooo deserve what we asked for.
I hope you enjoyed the ride, because the tires have come off and there's no spare.