Today, Monday, Geithner of the US Treasury will put forth the “rescue plan” that will “save the US economy”. Problem is, there really is no way to save the economy – not as such an economy as it has been for the past 20 years at least.
This housing based credit bubble has been the largest credit bubble ever. The crash in the economy will therefore be, and actually IS already, the largest crash ever. To try to prop it all up with hundreds of billions of US taxpayer money is just plain silly.
The reason I’m interested – and you too should be interested – is that the theory of decoupling (the theory that it doesn’t matter what happens in the US, the rest of the world will continue to trade with each other or internally and will not be affected) has been proven utterly wrong. Everything is connected, and the better I, and YOU, know the real deal, the better we can prepare for what will come.
Here are some links to my favourite pages to keep track of what’s happening. Have a look, have a loooong good read, and make your choice.