America’s mortgage crisis has spiralled into “the largest financial shock since the Great Depression” and there is now a one-in-four chance of a full-blown global recession over the next 12 months, the International Monetary Fund warned today.
But the IMF predicts the pending US recession will only be “mild”, whatever that means.
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People really need to see the movie the Money Masters. Its very good, it highlights how our economy really works. People have been saying this would happen for the past few years. We have nothing backing our dollar, hence the federal reserve ( a private bank by the way) prints money out left and right. It lets the rich get richer because the feds just prop up the market, we all pay due to inflation. Why do you think were getting that economic stimulus package. Its not to prop the economy as much as it is to make an excuse to print even more money. Ben Bernacke is the worst offender of this practice. This is why I decided to support Ron Paul despite being a Liberal, he actually has the guts to talk about all of this. Anyways, if your smart by gold because when shit hits the fan, you might have a chance to survive because people aren’t going to realize that their country is a sham anytime soon.