Bush’s Chernobyl Economy; hard times are on the way

[Pharaoh]

11/08/06 "Information Clearing House" -- -- In the next few months, a financial crisis will arise somewhere in the world which will jolt the American economy and trigger a swift and precipitous decline in the value of the dollar.

This is not speculation; it will happen and there is nothing that the Bush administration can do to stop it.

All of the traditional supports for the dollar have been removed by the shrinking economy, a massive $800 billion account deficit, dramatic increases in the money supply, and the reckless manipulation of interest rates.

Now, the noose is tightening. Our foreign trade partners can see that we are drowning in red ink and are refusing to buy back our debt in the form of US Treasuries. This is a death sentence for the dollar. It means that in a matter of months the once-mighty greenback will crash through the floor and free-fall through open space


Great article here............

http://www.informationclearinghouse.info/article15545.htm

[Hubert Flottz]

1. Bush's buddies have all bought gold so at least they will be okay!

It's just the other 99% who have been paying taxes who will suffer!

Edit...The democrats will get the blame for it!

[acmejack]

2. Check out "Greenspan's Fraud", excellent reading on this matter.

Laid this out some time ago.

[whistle]

3. Transcript of "World Crisis on the Eve of the U.S. General Election"

LAROUCHE OCT. 31, 2006 WEBCAST FROM BERLIN

<snip>
We're coming to a crisis. We're coming to a crisis of values. What people accept today as normal, is rotten and evil. We have to change.
<snip>

Lyndon LaRouche: Thank you very much.

You know the worst and best moments in history come to most people, of the time, as a surprise. And that is going to be the case with what's happening in the world now. We are now at the end of an entire period of history. During the middle of September, in the U.S. and other parts of the world affected directly by the U.S., there was the beginning of a new downturn in the world economy. This is somewhat complicated by the fact that there is an election campaign, so-called midterm election, now occurring inside the United States. The party in power is losing power, that is, losing power in terms of support from the people. It is preparing to commit great electoral fraud in the United States, to try to keep some of that power. It is prepared to go to war, to try to preempt the situation, the political situation, to retain power. But it also has long-term intentions to establish world dictatorship, called globalization, which would mean a disaster for all humanity.

Now, these events are coming rapidly. There are some good things happening in the world, as well as these bad things: but they're coming together, as often, at the same time. As in war: A terrible war breaks out, and people are prepared for war, but they don't know what war is. Then suddenly, they get a taste of it, and it wasn't what they expected. And sometimes the war goes against the offender, and that's a good thing. That also comes suddenly, as surprising developments and mobilization of people and institutions, mobilizes people to resist evil. The same is true of great economic depressions. Everybody is surprised by a great economic depression, even those who predicted it. Because it doesn't come exactly as they thought it would, when it comes.

<snip>
What If the Dollar Collapses?
All right, but let's look at this thing, this American empire myth: What happens if the United States collapses? Let's suppose that a collapse occurs as a 20%, 30% collapse in the valuation of the dollar. Does that mean that other parts of the world suddenly become better? Because they take over from the United States? No.

If the United States goes under, the rest of the world goes under, immediately and automatically. Why? <....>Now, everything in the world today, is related to this dollar. China has vast claims denominated in dollars. All parts of the world have vast claims denominated in dollars, assets denominated in dollars. What happens if the dollar collapses by 30%?

Then China collapses. Then India collapses. Because not only is the dollar worth less, in their so-called asset list, but the collapse of the U.S. market, and the chain-reaction collapse of the U.S. market, its effects on other parts of the world, mean a collapse of the economy of India, China, and so forth. And also Europe. So, a collapse of the U.S. dollar is a disaster for every part of the world.


<MORE>


http://www.larouchepub.com/eiw/public/2006/2006_40-49/2006-45/pdf/04_645_feat.pdf

[Pharaoh]

4. hmmmnnnnnnnn

I did'nt know larouche was that with it these days,