Great depression coming?

This is an interesting article by Paul Farrell on the marketwatch website.

http://www.marketwatch.com/news/story/Well-Great-Depression-2-2011/story.aspx?guid={B28B49B5-EFD1-4941-B57E-A2BA1545BA09}

These 30 signs that he mentions are some very scary signs that the fecal matter has not hit the fan yet. It has to be obvious when the government is squirming about this recession. Here are my .02 cents to the cracks in our ships hull. Don't worry, everything is going to be just fine...

• America's credit rating may soon be downgraded below AAA.

Imagine what will happen when the foreigners quit buying our treasury bonds. I would stay away from it if I were you

• Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"

Ever wonder why our M3 money supply is not published?

• Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse

Does congress have oversight of anything?

• King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets

I think King Henry is confused too

• Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year

Work Harder! Corporate CEO's depend on you!

• AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers

Let's all deliberately not pay our bills and have the government bail us out too!

• American Express joins Goldman, Morgan as bank holding firms, looking for Fed money

Just call 1-800-UNCLEBEN

• Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states

Then the states sneaks the tax upon Joe the Plumber

• State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt

I thought that was the federal government

• State, municipal, corporate pensions lost hundreds of billions on derivative swaps

SUCKER!

• Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up

Looks like Hedge funds are going back to about 610 again...

• Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns

Could we have some of the bailout pie now?

• Fed also plans to provide billions to $3.6 trillion money-market fund industry

What difference does this make now?

• Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars

Why dont we let Freddie and Fannie bleed to death. They are already a lost cause.

• Washington manipulating data: War not $600 billion but estimates actually $3 trillion

ENRON?

• Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs

Hope your 401K statement is hidden...

• Commodities down, resource exporters and currencies dropping, triggering a global meltdown

...and that's where the recovery will be. Hey, at least gas is now about 2 bucks/gal. For now...

• Big three automakers near bankruptcy; unions, workers, retirees will suffer

Well, someone is going to get SCREWED. I don't care if you received your financial engineering degree from Enron University, again someone is going to get screwed.

• Corporate bond market, both junk and top-rated, slumps more than 25%

Maybe the next bankers will be the mafia and they will use your fingers as collateral.

• Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall

You know when the fecal matter hits the fan is when WALMART goes bankrupt.

• Unemployment heading toward 8% plus; more 1930's photos of soup lines

At least it may solve our immigration problem when the illegal aliens quit coming here because there is no money to be made. Even better yet, we will send our losers to Canada and Mexico.

• Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists

Where do I sign up? Does lobbying require any special sk1llz

• China's sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai

At least China gets something out of the %586B stimulus plan. All we get out of our $700B stimulus plan is a handful of richer CEO's. Will someone rig their golden parachute?

• Despite global recession, U.S. trade deficit continues, now at $650 billion

DEFICITS DON'T MATTER!

• The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities

Again, someone will get screwed when the fecal matter hits the fan. On the bright side, there are many doctors in foreign countries that can provide decent medical care at a decent price.

• Now 46 million uninsured as medical, drug costs explode

Thanks Uncle George, Viagra for everyone!

• New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt

Why don't we do it China style, screw the banks and invest in infrastructure to stimulate the economy? Again, at least we get something out of it

• Outgoing leaders handicapping new administration with huge liabilities

Looks like our outgoing leaders are handicapped themselves

• The "antitaxes" message is a new bubble, a new version of the American
  dream offering a free lunch, no sacrifices, exposing us to more false promises

CHANGE! That's the solution to all our problems! Change, Change and more change! Bring it on! All I am doing is reacting to all this change.