2008-06-12gold-eagle.com

Let’s correct one of the biggest misconceptions out there. Fast rising energy costs worsen the USEconomic recession, forcing more asset deflation. Sure, they lift some prices, but they are costs. Money to pay for the higher costs are nowhere, with falling home values, vanishing home equity credit, tighter bank lending, ruined banks, restricted credit cards, and lost jobs with income. Bank destruction will worsen. Job loss will worsen. Wages do not keep pace, as long as China is a competitor.

Lots of good stuff in this edition from JW.


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