Wednesday, June 1, 2011

Are We on the Verge Of Another Great Depression?

Peter Yastrow,a market strategist for Yastrow Orgier thinks so.He told CNBC this;

"We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."
"Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything," Yastrow said. "We’re on the verge of a great, great depression. The [Federal Reserve] knows it.
In the Great Depression of the 1930's our money was still good.We have all been regaled in stories by our fathers and grandfathers on what they could buy with a nickle,it was just getting the nickle that was the problem.

In this up coming depression it want be hard to get a nickle or a dollar,its just that you will need a fist full of dollars to buy a loaf of bread.Our money has become and will further become worthless.

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