The Global Slump of 2008-2009 has begun... and what a slump it looks to be. We've got Banks shaking off loans like fleas, homeowners abandoning their investments on a massive scale, $120/barrel oil, and the purveyors of overpriced crap are going bellyup quicker than goldfish at a carnival attraction. Add the prediction of $200/barrel oil within 2 years and you have the makings of a depression unless someone actually does something to stop it (don't count on Bush). At the moment everyone is simply charging themselves into further trouble and robbing Peter to pay Paul can only go on for so long. I'll let one of our founding fathers put in his two cents:If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."---Thomas Jefferson, The Debate Over The Recharter of the Bank Bill, (1809)
