Eagle-Chief

Citi + Bank of America Losses = Rest of U.S. Banks Value

Just goes to show you how damned overvalued these companies are. People buying these companies were paying greatly hyperinflated prices for them. Maybe the prices they are selling for now are more accurate of their true values, or perhaps they are still overinflated.

Wall Street Breakfast: Must-Know News

Eli - this statement is interesting -
Food could cost 7-9% more next year. Economists say heavy Midwest flooding may cause U.S. food prices to climb 7-9% in 2009. "The U.S. consumer has gotten used to cheap, affordable food," food-industry analyst Fiona Boal says. "Now the goal posts are moving."

The thought of this sicken me. I had an instructor iin college that said "The U.S. could produce enough food to feed the entire world." Although perhaps an overstatement, it was not far from being truth. And with today's technology and modern equiptment, one would think that food production in the world would be in great abundance.

However, government policies make food less affordable. This ethanol thing is sickening. Ethanol is a government sponsored scam that is contributing to the rising cost of food worldwide and is even causing starvation around the world. Mark Perry wrote an excellent one page article about ethanol on Seeking Alpha -
seekingalpha.com/artic....

In the name of "environmentalism" radiacals are pushing these biofuels at the expense of rising food costs and starving peoples.
Sadly, America has become a socialist-elitist nation which has no regard for rightousness or for the welfare of its citizens and the citizens of other nations.

America could be energy-independent - using nuclear energy, American oil, and solar and wind energy. And yes, we and the rest of the world could have cheap, abundant food too.

Hyperinflation, Here We Come

Andy - good article and some good points made. It is scary to think that our retirement funds could be worthless some day, compliments of reckless central banking policies.
I just saw 2 good websites last night that deal with hyperinflation -

www.sjsu.edu/faculty/w...


www.econlib.org/librar...

'The Worst Is Over for Financials' - Really?

Gracie - I cannot help but think that a total financial meltdown is a least a good possibility in the U.S. And after reading about a possible bailout of Fannie Mae & Freddie Mac in the future if the forclosure crisis worsens, I am quite concerned. This crisis is NOT OVER. Plus, the rising costs of food, gasoline, and other necessities is putting a huge strain on Americans. It is sad that our government is ready to BAILOUT financial institutions which were so incredibly reckless & greedy. There should be an uproar against our government bailing out those who ultimately are destroying America. Working families & the taxpayers will pay the price of their recklessness. Bailing out recklessness and greed will spawn more recklessness & more greed. This is not the free market system; this is ecomonic Socialism.