Today we are confronting
unprecedented levels of debt,
foreclosures, bankruptcies,
unemployment, energy depletion,
foreign exchange hysteria,
skyrocketing gas and food
prices, illnesses treated
without health insurance
coverage—or just not treated,
unprecedented levels of
homelessness, and by all
indications, not only USA but
the whole world is well on the
road to a re-run of 1929- style
deflationary depression or
something much worse.
Derivative dealers, hedge funds,
buyout firms and other market
players are unraveling,
Massive corporate losses, such
as those recently posted by Citigroup Inc. and General
Motors Corp., will also be
fairly common for the next 5
years if not longer.