The situation is bad. The situation I talked about in June remains the same. The dollar is weak; we are too leveraged as a country; we may face an unimaginably bad energy crisis. Traders like Cramer are scared about the risks we currently face:

Some economists have more to say. Listen to why the Fed cannot save us:

The dollar is going to collapse. We have too much debt. Risky debt has been packaged into derivatives and are no spread throughout the entire economy like some sort of plague. This is dangerous.

We need someone like Ron Paul to bring things back into balance, into normalcy:

The great irony is that, assuming the United States does not go bankrupt, the end result will be that we have unloaded hundreds of billions of dollars of debt to unwitting foreign investors. I guess our country has been listening to blowhard snake-oil salesmen like Donald Trump for too long. Shameful!

This entry was posted on 2007-8-19 at 13:32 and is filed under Economy, Politics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.