Economy - Don't look too strong to me

There is no way this will end in a recession. DEPRESSION anyone????

For those that might remember my May 14th post nailing May 12th as the beginning of the great depression of 2007. They're calling it a recession here to fix the instability chimps' interference into the economy has caused by attempting to stoke the economy an unprecedented 6 straight years. The problem is there is no ability for the government to bail out the US economy when you start at $10B in deficit before the recession begins, (which is at the heart of my depression prediction).

This International edition of Newsweek is reporting the dire straights without venturing into the D word and sticking with the R word for the moment. The big money (institutional investors) had they're head start and have been moving their money around in preparation for the coming events (mostly into bonds and gold/platinum/silver I suspect). The little guy will really take it in the seat starting this week. (see MSM can report it now). If you got stock and you missed the move-it or loose-it alert, best start taking notice. Tangible assets, anything you can hold in your hand (or property). Get out of anything paper.

Hope you got money saved up to feed your families and pay the mortgage, or have one of the 60% of the jobs that will survive. BTW have I ever told you how much I hate the chimp?

http://msnbc.msn.com/id/13121960/site/newsweek/

snip
Then the May mayhem ended that fairy tale. Emerging markets tanked, commodities plummeted and stocks in the United States and Europe gyrated on fear that central bankers may have to continue to raise interest rates to fight inflation. If rates go too high, the economy could cool off fast. "Goldilocks has gone missing," says London market strategist Pelham Smithers.

snip
Of course, the most critical link in the system is the United States and its mounting deficits, which have reached a staggering 7 percent of GDP. Pessimists have been warning about this for years to no avail. But after the April 22 meeting of the Group of Seven top industrial countries, the concluding statement had a surprise: the leaders acknowledged for the first time that currencies have to adjust to help rebalance the world economy. Put simply, the United States needs a cheaper dollar to pay its dollar debts. The rule of thumb is that the dollar has to fall 10 percent to cut the current account deficit by 1 percentage point of GDP, which means another 30 to 4o percent to cut the deficit in half.

Good luck everyone....

:scared: