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We'll be in Great Depression 2 by 2011 -- here are 30 reasons why - MarketWatch

Included: $60 Trillion in unfunded liabilities for Social Security & Medicare.

Also: former Goldman Sachs chariman John Whitehead: "...I wonder if tomorrow is the day Moody's and S&P will annonce a downgrade of US government bonds."

Tags: marketwatch, Great Depression, Economy on 2008-11-19 and saved by 2 people -All Annotations (8) -About

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ideology trumps common sense, reality and the facts. Greed drives ideologues to blow bubbles. They pop. Crashes happen. The public is collateral damage.
Henry Paulson was at Camp David warning the president and his staff of "over-the-counter derivatives as an example of financial innovation that could, under certain circumstances, blow up in Wall Street's face and affect the whole economy."
Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
State, municipal, corporate pensions lost hundreds of billions on derivative swaps
Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
Fed also plans to provide billions to $3.6 trillion money-market fund industry
Social Security, Medicare with $60 trillion in unfunded liabilities
John Whitehead

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Phil Baumann's Bookmarks tagged marketwatch → View Popular

We'll be in Great Depression 2 by 2011 -- here are 30 reasons why - MarketWatch

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