Unemployment, Foreclosures, Rising Debts and Despair: AMERICA'S SOCIAL CRISIS
2012 is going to be a difficult year, but not as dreadful as anticipated. The neutralization process, as usual, we covered over by the availability of money and credit. We have already seen that via Fed $1 trillion loans to the ECB and the admission by the Fed that QE 3 is on the way. In Europe banks have borrowed $3.2 trillion and they find they will need $1 trillion more. These borrowings are more than troubling and indicate that there are 523 banks in Europe in serious trouble.
We have predicted a reversal of our GDP estimates of early December. In late December we knew the game had changed dramatically with the introduction of the Fed’s loan to the ECB. Thus, the minus 1-1/2% to 2% negative growth to gains of 1-1/2% to 2%. We see part of the European bank funds moving into US Treasuries to provide collateralization for more ECB loans and the introduction of QE 3, which we believe will aggregate about $800 billion. If you put that together with a possible $300 billion from European banks you have $1.1 trillion. That should carry the US market far into next year
World elitists have chosen their path that is jam money and credit into the system until it won’t take it anymore and hyperinflation explodes. This is well borne out by scores of trillion dollar loans created out of thin air and now QE 3 and how many QE’s beyond that. You ask how long the Fed can buy 80% Treasuries? The answer is almost indefinitely until, of course, the bottom falls out…more
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