Something Depressing This Way Comes
Graham Summers writes
Folks, we’re not out of the woods yet… not by a long shot. The same problems plaguing Europe today are coming to US shores. And when they do, everyone will realize what I’ve been saying since 2009: that 2008 was the warm-up — the real crisis is when the US defaults and we face systemic collapse.
The MSM is looking for signs of a turn in the economy. They grasp on every statistic like todays’ release of initial claims for state unemployment benefits. They “…fell 10,000 to a seasonally adjusted 390,000 in the week ended Nov. 5, slightly below the 400,000 that analysts polled by Reuters had expected. The government revised its estimate for claims during the prior week to 400,000 from 397,000.”
The FED is through temporarily with QE. The economy is “addicted” to QE. Look for the economy to crash going into Q2, 2012.
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