muses of the moment

January 26, 2011

Must read from WatchDog

Filed under: Economic Crisis, The Banking Crisis, The Dollar Crisis, The Federal Reserve, US Government Debt — totallygroovygirlfriday @ 1:51 am

Click here. Make sure to read all the comments and Greg’s responses. In groovygirl’s opinion, there is very good advice there.


  1. Greg’s article can be interpreted that “The Most Predictable Financial Calamity in History” will happen in June, yet there’s an argument that the event will simply be another milestone of an invisible calamity. Your comment?

    Greg’s comment section remindied me of my inquiry about QE being a backdoor tariff on China. Also see Rickards’ comment in “Currency Wars: How Ben Bernanke Outsmarted China” (

    “The Chinese feel betrayed by the U. S. They feel that part of the deal for buying all those Treasurys was that the U.S. would maintain the value of the dollar. There’s an old saying, ‘if you’re in a poker game and you don’t know who the sucker is, then you’re the sucker. The Chinese have just woken up to the fact that they’re the sucker.”

    Comment by C. D. — January 26, 2011 @ 12:04 pm

  2. I agree that June 2011 will be a milestone and not the final act.

    Groovygirl is very frustrated with the lack of acknowledgment of reality. The President’s speech and the responses of the parties (and MSM) clearly underlines the fact that government is acting as if the recession is over. So, clearly the government’s energy and resources must be divided between keeping up recovery appearances and printing/spending whatever is necessary to keep the economy and banking system from collapsing again.

    This is not sustainable nor profitable to anyone. Perhaps June 2011 will be the time when everyone realizes this truth. We shall see.

    Unfortunately, once they realize this, not much to do about it now.

    I am waiting for China to get pissed, but they may be just waiting. There is no need for China to expend energy to punish the US. The US is imploding on itself without any help from anyone. China will rise from this stronger than the US, but the globe will have hard times no matter what.


    Comment by totallygroovygirlfriday — January 26, 2011 @ 12:40 pm

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