More Economic Signs of the Times
I’ve always said the government was soft-peddling the economic problems they helped to create by conspiring with business to create a financial fantasy land where you can spend, spend, spend and never have to pay.
Today it was announced that employers cut jobs by the highest amount in five years and the Federal Reserve is going to auction off (and fabricate out of thin air) another $100 billion dollars on top of the billions they’ve already pumped into the market.
Not surprisingly the dollar continues to plunge to new lows and commodities stay close to recent record highs.
Meanwhile in Oakland, CA which is an area that has long remained resistant to downturns in the housing market is seeing condos auctioned off with bids starting at 50% of the former asking price. The number of foreclosures is breaking records.
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