Tuesday, October 7, 2008

Epic Failure!

I have to say I think of the Dow Jones Industrial Average as an EPIC FAILURE!

The worst part is that most economists think that the bail out is the worst thing we could be doing.  It is said to be a repeat of the failures we made before the great depression, and the same mistake that Japan made in the 1990's.  As you can see here. Critics say it is because of a failure to revise outdated economics theories based entirely on Marx's ideology. Or a failure to stop predatory loans... or as this documentary suggests, we ignored tell tale signs and irresponsibly acquired too much debt.  Still people pass blame back to the Lyndon Johnson's Fair Housing Act (because that is when sub-prime morgages starting artificially inflating the value of realistate..)

I find a disturbing amount of truth in SNL's recent skit about the financial crisis on our hands.  The banks should have known better than to issue so many loans that they knew nobody would be able to pay.
anyway... out economy is headed for epic failure of a scale we have never seen... I say invest heavily is gold and oil.  Those will probably only go up.
For now, I'll leave you with Ron Paul's warning from last year:

That's all for now.
Later,
     SteveO