I sense that we have crossed the line last week into a new era marked by soon come high unemployment and deflation. Forget about what that Star article wrote, if you read it, its all BS. We are going down, down, just like our American cousin's. One writer phrased it as a tug boat steaming along side the titanic. The Toronto Star writer, and his editor are merely arranging deck chairs on the Titanic, after the ice berg event. They just haven't figured it out yet, that they are taking on water.
So, have any of you given any serious thought to what this really means here in The True North strong and free? My feeling, not a prediction because no one can predict what is going to happen in the next while, but my sense of the matter is the USD is is going to climb up over the cliff in the short term. The Fed is going to start lending to Corporations and States, such as Caterpillar and California. This will increasingly weaken the dollar. IF the 1973 OPEC treaty holds, the USD might hold. If not, it won't.. then the monetary system free falls. What will China do? Europe is going to go snaky either way. I bet the Euro is going to drop like a rock, Italy and Spain are going to get fried. Gold will probably hit 3000 sooner than later. Its going to get interesting and then more interesting.
This is a good time to take some guesses.
Another meltdown Monday as London shares crash again
• Fears over stability of Icelandic economy
• Germany unexpectedly guarantees all retail savings
• UK's economic war cabinet to meet for first time
So, have any of you given any serious thought to what this really means here in The True North strong and free? My feeling, not a prediction because no one can predict what is going to happen in the next while, but my sense of the matter is the USD is is going to climb up over the cliff in the short term. The Fed is going to start lending to Corporations and States, such as Caterpillar and California. This will increasingly weaken the dollar. IF the 1973 OPEC treaty holds, the USD might hold. If not, it won't.. then the monetary system free falls. What will China do? Europe is going to go snaky either way. I bet the Euro is going to drop like a rock, Italy and Spain are going to get fried. Gold will probably hit 3000 sooner than later. Its going to get interesting and then more interesting.
This is a good time to take some guesses.
Another meltdown Monday as London shares crash again
• Fears over stability of Icelandic economy
• Germany unexpectedly guarantees all retail savings
• UK's economic war cabinet to meet for first time
