by Ted Rudow III,MA ( Tedr77 [at] aol.com ) Sunday Sep 16th, 2007 9:04 PM
Number of famous economists, they are each planning to be somewhere else when the crash comes which they predict will topple the rich nations like tumbling tenpins into an economic chaos that will make the Great Depression of the Thirties look like good times.
They says the big bust really began clear back in 1973 and there will soon be a colossal deflation with the collapse of the Dollar followed by a price inflation which will make today look like stability! One economist predicts that when the people begin to wake up to what's happening to their money, they're going to start cashing in their stocks and bonds and spending their savings to try to get their money's worth, so that banks, corporations and even governments will go broke as people begin to realise their paper money is really worth nothing at all! Modern economists ignore the even more dangerous social and political signs and the most vital of all financial forecasting factors. Your money is losing its value faster than they can print it, and it soon won't be worth any more than the paper it's printed on. Already investors are fleeing from paper money into gold.The sad result is that the United States now owns far less gold than official figures pretend. The dollar marked a new record low against the euro amid growing expectations that the Federal Reserve will cut U.S. interest rates next week and fears that the credit crunch is threatening the health of the U.S. economy.The euro was up 0.5% against the greenback, at $1.3904, after earlier touching $1.3913 -- its highest level since the European currency was launched in January 1999.
Ted Rudow III,MA