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Wednesday, December 1, 2010


Commented on CNBC: December 2009 - By Dennis Kneale
Nothing Has Changed in a Year:

1. Nevermind
there are more foreclosures lined up for 2010 and 2011 than there were for the subprime wreck in 2007 and 2008.

2. Nevermind that the Fed has been printing money at an exhorbinant rate. I believe at the begining of the year there was about $800 Billion in circultaion and now there is $2 Trillion.
3. Nevermind that our national debt has exploded to $12 Trillion but was $5 Trillion in 2000.

4. Nevermind that most developed nations want off the US Dollar as a reserve currency and are buying gold or other currencies already as a hedge.

5. Nevermind that the FED has been buying US Government debt all year because they couldn't sell it at auction.
6. Nevermind that Japan is going to stop buying US Treasuries and start selling the ones they do have or that others will likely follow.

7. Nevermind the dollar has lost over 40% of it's value just recently.

8. Nevermind that Gold shot past $1200, that means nothing.
9. Nevermind that Ben Bernanke in all his wisdom did NOTHING to stop the train wreck in 2006 when it was obvoius the bridge was out.
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