100's of banks will close

snipt:
"The regulators should investigate themselves for bailing out Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the creditors of Bear Stearns and the financial system with new lending facilities. They have swapped U.S. Treasury bonds for toxic securities," he told Barron's. "It is privatizing the gains and profits, and socializing the losses as usual. This is socialism for Wall Street and the rich."




www.reuters.com...

Socialism is ok for the Rich but the masses get to pay the cost of it
The New American Century

Given the fact there will be a minimum of 2 Trillion in credit loses world wide, there will be easily 300 banks in the US that will fail.

Sadly, the UK will fair poorer.

JK

Next up is the commodities meltdown - and it has already started.

JK

This doom is not as direct. When is the dust-bowl? When can I begin to scream and run for the mountains?

When the last optimist/denier finally starts to sell and throws in the towel....

It's time to buy.

But don't expect that moment to come any time soon.

JK

No man no woman knows the hour that sorrow comes
but that it will come is certain.

Originally posted by leo123
Next up is the commodities meltdown - and it has already started.

JK

There will be good business opportunities for :

(1) Portable Move Along 2x2 Cardboard Boxed Houses.

(2) Horse and Carts will be Back in Action.

(3) Barter System will flourish, Money will be trash.