Here, in the U.S., the recession/depression is deepening by all accounts. University of Michingan survey of Consumer Sentiment is at a low and continues to drop as unemployment rises.
AIG has been nationalized for all intents and purposes, as well as two major banks, bespeaking socialism. Chrysler "bankruptcy" will occur by totally short-circuiting the bankruptcy process. About one-third of Chrysler's privately owned dealerships will be closed, not by choice, but by mandate, depriving the owners of their buisnesses, many of which go back generations. This to me is total theft of their property: their businesses.
The yield on the 10-year treasury bond (gilts) has increased to about 3.50% (as of today) as there are concerns about : a. the inflation (possibe hyperinflation) the historically high national debt will porduce and, b. the growing concern that the unsustainable level of borrowing under the Obama admiinistration could possibly cause the AAA rating of treasury notes/bonds to be lowered, for the first time in U.S. history.
How anyone could say the Obama Administration is doing a good job is beyond me; the pure emperical facts, some of which are stated above, say otherwise!
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Originally posted by GolasPL
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