"We face a TSUNAMI of spending due to the baby boomers. The total debt [in 2008] is estimated at $53 Trillion, that's $175,000 per person." - David Walker Comptroller of the United States.
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Could be what's causing the predictions to go haywire!
“Most of the hard-up banks: Merrill Lynch, Citigroup, Wells Fargo, Countrywide, Wachovia, National City, Bank of America, maybe your bank... have billions of dollars in insurance against all the crummy mortgage loans that they have bundled or kept on their books. Their insurers could go BELLY-UP! See it’s a domino effect... First, the mortgage insurers go down, then the banks, then everybody who needs to borrow, you [the public].” - Jim Cramer 1/18/2008
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About DollarPANIC
Welcome to the HOME PAGE!
DollarPANIC is a ongoing collection of websites, videos, and other information found on the net; which serves to create a mosaic documentary of the 2nd Great Depression.
DollarPANIC is a ongoing collection of websites, videos, and other information found on the net; which serves to create a mosaic documentary of the 2nd Great Depression.
CHAPTERS
0. The Home Cover Page
1. Federal Reserve Follies
2. The Best of HousingPANIC.COM
3. The Great Unwinding
4. A Royal European Think Tank
5. Peter Schiff on the Global Credit Meltdown
6. Views from China
7. American Middle Class
The public is allowed to view the entire DollarPANIC website, but is not permitted to add comments.
The comment sections, only found in some of the chapters, are reserved by the authors to post editorials and record a variety of information related to the posts.
The authors claim a copyright to all materials contained herein upon the date any such materials are first published, provided all such claims do not infringe on the copyright(s) of others. Use of any and all 3rd party copyrighted materials falls within the "Fair Use" legal doctrine. (c) Copyright 2008 All rights reserved.
Has Global Peak-Oil Output arrived?
Could be what's causing the predictions to go haywire!