Has Meltdown II Already Started?

[loosecannon]

Willie, do we have the capital to rebuild our industrial base? Or modernize our national infrastructure?

We squandered our strength clinging to empire and silly nanny state tactics to buy votes.

Now we are broke and screwed.

 

[william the wie]

Willie, do we have the capital to rebuild our industrial base? Or modernize our national infrastructure?

We squandered our strength clinging to empire and silly nanny state tactics to buy votes.

Now we are broke and screwed.

The bottom will not be reached until:

The empire ends.

The use of fiat money ends.

The Fed dies.

Two out of three won't cut it and so far not even one out of three so we are not yet in the serious section of the downturn.

 

[iamwhatiseem]

This is not a "Meltdown II".
The first "meltdown" was not allowed to fall naturally, so what we are/will continue to see is several stumbles for the next 4-5 years at least.
The fall WILL happen. Only difference is our government has/will continue to waste $trillions trying to stop it. But will continue to fail.

 

[B. Kidd]

Bernanke: US 'close to border' of recession, Federal Reserve may intervene

"We're not very far from the level where the economy is not self-sustaining" in its recovery, Bernanke warned. He described the economy as "close to the border," because annual economic growth of about 2.5 percent is needed just to keep an already-high unemployment rate from getting even worse. (About 125,000 new people enter the labor force each month, on average.)
More Fed action 'certainly possible'

As if to underscore Bernanke's point, the unemployment rate rose in November to 9.8 percent, even though the economy added 39,000 jobs for the month.

Bernanke said "it's certainly possible" that the Fed would expand its planned bond purchases beyond $600 billion during the next half year or so, if economic conditions warrant.

Bernanke: US 'close to border' of recession, Federal Reserve may intervene - CSMonitor.com

Given Bernanke's understanding of the crash of 1929 and conclusion that the system needs massive infusions of money during dire crisis, furthur Federal Reserve intervention should not surprise us.

 

[william the wie]

Bernancke is too narrowly focused on the monetary problems.

 

[iamwhatiseem]

Bernancke is too narrowly focused on the monetary problems.

He is too focused on the financial markets.
Which is not surprising considering that is all he knows, and the FED is a bank.