Jim Rogers and Peter Schiff seem to be the only voices of reason in the media these days. Rogers talks a lot of sense in this video.
Why would anyone in their right mind be FOR the bailouts? This is going to make everything worse. As Rogers says, we can have a short, sharp downturn in the short run, or we can have a 10+ year economic disaster on our hands.
The more the Fed and the government do, the worse this thing will get.
In the immediate future, my prediction is that somehow, congress will pass this bailout bullshit. Backroom deals and threats will get this done. The market will then rally, maybe for a few days. But in the not too distant future, the dollar will drop to zero, that’s $0.00.
2009 will be an extremely rough year for many Americans. Between this mess in the market and the coming real estate collapse (the real one), hold on tight (to your gold and metals)!