Wednesday, February 11

Prophecy Of Doom

This graph, from Credit Suisse, shows where we may be heading and why Obama pushes hard for further stimulus dollars, which was approved yesterday despite Republicans. From now there is no more. I shudder to consider that America no longer exports products the world wishes to buy with the exception (and a big one) of the iPod+technology. The last 25-years fueled by the services sector - Europe being the biggest buyer - which, thanks to Wall Street, has vaporised. Anybody with an oversized or variable rate mortgage and especially the elderly, who cannot reboot, are in for it.