Folks, it is time to stop talking about recession and deal with reality. We are headed into a full-blown depression. All the historical precedents have been met.
Retail Sales Plunge by 0.6 Percent
Unemployment is skyrocketing. We don't know how bad the problem is because the
Right now 20% of American homes are in arrears on their mortgage payments. 20% are in trouble with the IRS. Those are depression era levels.
The federal reserve has lost control of inflation. It HAS to keep pouring out new "funny" money or let the banks and mortgage institutions collapse.
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