Thursday, October 02, 2008

Financial Crisis is it 1979-1981 Again?

I just read this, really helps explain what is going on in our financial world....Go and read the full article.

We may not be able to change the economic problems of our nation, but we can do things to insulate ourselves against them. I will say it again: the last time we saw these economic indicators was 1977-1979. Do you remember 1979-1981? Let me remind you: falling dollar (this is the one to watch), 13% inflation rate, 13% unemployment rate, 21% Prime, 18% money market funds, 17% mortgages, $850 gold, $50 silver (remember the Hunt brothers trying to corner the silver market?), skyrocketing deficits, skyrocketing oil and food prices, money supply growing far faster than the economy, plummeting stock market, plummeting real estate, zero building, “stagflation,” and on and on.

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