Don't disagree with you, Publix. Doesn't mean there won't be a recovery, and that after that, things will get, well, far worse than anyone here can imagine. Invaluable source for '67 - '69 stuff is the Time magazine archive. Three articles, one on each of the currencies: The Agony of the Pound Symptoms of Malaise The Fight for the Franc
Spot on. Bubble economics is dead. Debt and credit levels are going parabolic relative to output. The next Bull will sucker-in everyone left, then the entire system will collapse. The DOW will go to 4K, easy - 6 years from now.... Thats what fractional-reserve lending does - create bubbles that destroy real, honest-to-God wealth. Hyper Deflation at bubble debt levels = a protracted, severe Depression Greater than the last. Anyone holding major debt (car, mortgage etc) in 6 years, is in major trouble. I fully expect Obama and the Bankers to resurrect debtors prison and amend bankruptcy law during the next/last Bull Run up. The Country is basically dead. Once the real crash hits, sheeple will demand Government be charged with their care and street justice be metered out. Scape-goating of political enemies will be the order of the day. Speculators, money managers, free marketeers. Anyone anti-Big Government. In exchange for guaranteed welfare, Government will demand more rights be taken from the people to "combat the evils of capitalism". Further, we'd probably move to some type of non-cash economy where the Government holds all the cards.