Conclusions from this week's disastrous financial events mentioned in the previous post:
In the end, what conclusion can we draw from all of this?
1. The entire US/UK financial system is broke, busted, caput.
2. The rescues and manipulations of this last week are quite extreme and they attest to the above.
3. The true state of affairs is being hidden from public view to prevent a panic and runs on all major banks in the Western world.
4. The Fed and the Bank of England know this and the current rescues have been to conceal the truth long enough to reach the upcoming US election (if there is one) before the collapse happens.
5. The collapse is likely to be timed after the presidential election (if there is one) and before the inauguration of the next president (if there is one).
6. During this time, the current leaders will take emergency powers before any handover that may take place.
7. Whoever is in the White House by 20 January 2009 will have dictatorial powers and...
8. We will be in the midst of a second Great Depression by 20 January 2009.
9. The collapse could actually happen sooner because the wheels have already fallen off the wagon.
10. I would not be that surprised if the 2008 US election is postponed, perhaps indefinitely and there could be a fascist dictatorship by year end.