Sunday, October 12, 2008 9:56:16 PM
Economists are beginning to warn of a depression-like cycle where an inability to obtain credit stalls growth, triggering more defaults and still tighter lending terms. Governments have unveiled one unprecedented move after another in the past three weeks to boost confidence and get banks back in business, yet so far nothing has been able to arrest the fall.
"There's no hyperbole that can describe it," said Kenneth Rogoff, a Harvard University professor and former chief economist of the International Monetary Fund. "It's very, very unlikely (that the world economy will fall into a depression) but we've taken five of the 10 steps we need to get there. Hopefully we won't take the other five. ' "WASHINGTON (Reuters) - The global economy is drawing closer to a dangerous downward spiral and time may be running out for world leaders to find a way to stop it before it inflicts lasting damage.
Economists are beginning to warn of a depression-like cycle where an inability to obtain credit stalls growth, triggering more defaults and still tighter lending terms. Governments have unveiled one unprecedented move after another in the past three weeks to boost confidence and get banks back in business, yet so far nothing has been able to arrest the fall.
"There's no hyperbole that can describe it," said Kenneth Rogoff, a Harvard University professor and former chief economist of the International Monetary Fund. " http://www.cnbc.com/id/27150344/for/cnbc/
Our Futures are up some 230 pts presently ( http://www.bloomberg.com/index_americas.html ) leaving me the impression that the Fed's are in line to sell off a few billion other default T-bills which will drop the market like a rock again!
My concern isn't that gold won't be recognized as the investments of all investments...but SINCE gspg isn't in production stage that the big money won't be coming here. Meaning we kind of stay in this penny here penny there rise until we do...which is when????? Sure wish these guys would start digging. Considering the situation we could find ourselves (depression, massive lay-off/unemployment, income stops) in this particular play may not be the relief fund we are going to need in the time frame we may need it. If we don't see results from the action the Fed's major banks are trying to take to head this off...we could be in some serious do do real fast!
NOT SELLING just asking a question.
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