More Ponzi schemes and More Bankruptcies - More Facts Are Rolling Out

Major banks on the edge of collapse.
Auto industry facing bankruptcy.
Retail sales plummeting.
Unemployment numbers accelerating.
Housing market crumbling.
Ponzi schemes making a comeback.
Major retailers filing for BK.
Stock market down almost 50% from the highs.
Treasury notes yielding Zero.
Credit Default Swaps over 5 times GDP looming out there.
Commercial real estate market starting to crack.
(Did I forget anything?) Oh ya, $8 Trillion in bailouts and counting.

All these are part of a normal, healthy recession. I’m going to Wal-Mart now and buy a new gadget. I’m sure there is something out there I don’t know about, but I’m sure I can’t live without.

Have you thought of changing your handle to 1929stockbroker? Might be more accurate.

Related Posts:

• Hard to disagree with any of these points about the coming double dip recession.
• From Denninger today — anyone know anything about AIG underwriting Greek debt? That could get interesting:
• I own a business. I see first hand what the recession has done to people’s spending habits.
• My list of leading economic indicators:
• Job market #1, Housing market #2

Leave a comment