Does Everyone Understand What Is Going On Here??

[Richard Warren]

We may be witnessing the largest financial collapse in centuries. Take a step back and look at what is happening:

ï‚· Subprime meltdown
ï‚· Housing bubble
ï‚· Foreclosure crisis
ï‚· Bear Stearns collapse
ï‚· Countrywide Mortgage rescue
ï‚· Fannie Mae & Freddie Mac bailout
ï‚· Lehman going under
ï‚· Merrill Lynch takeover
ï‚· Wamu in trouble
ï‚· Wachovia in trouble
ï‚· Citibank at risk
ï‚· Banks pool together $70 BILLION to shore up liquidity

The financial & banking system is being held together with bubble gum and bailing wire. The government is like the Little Dutch Boy trying to plug the holes in the dike that is our financial system. The Fed is probably going to cut rates again. Watch out for the falling dollar….again.

We all were taught about the Great Depression in school, our kids and grandchildren will be told about this in history class. Lucky us, we get to live through it. It makes you wonder why ANYONE is running for President, this is all going to land squarely in the lap of the next administration.

Good Luck!

:cool: