Retirement in the worst depression in 60 years, deflation is coming, unemployed face worst odds in over 50 years, IMF specializes in austerity, banks cut lending in anticipation of conditions, Financial Crisis Commission a travesty, a setback for Poland, Florida real estate woes, Greece crisis sparks investor panic. www.theinternationalforecaster.com www.infowars.com

Failed Banks and Failed Billions by Bob Chapman www.theinternationalforecaster.com Re-flating a dying bubble, Greece and Euro problems fuel world markets, Lehman Bros collosal fraud, a plan to tax banks, bank failures amount to billions, signs of a vanishing recovery. Bubbles have a hard time coming to an end, especially in residential real estate. Underlying forces such as government intervention to prolong the agony and the abject stupidity of builders extends the bubbles. We are in a vast home inventory expansion and builders are going to build 535000 new homes. The projected foreclosure rate could give us as much as a 3-year home inventory, up from present levels of about a year, if one includes the lenders shadow inventory. This past week the home building index rose 7.1% and it is up 25.1% year-to-date. The retail index rose 17% ytd, yet unemployment stubbornly clings to 22-1/8%. In fact, the retail index is up 87.4% yoy. We would say that index is grossly overpriced. As you can see bubbles have a way of not wanting to die quickly. This is caused by mans disparately wanting to cling to the past attempting to take the easy way out rather than adapting to change. Government tries to keep sections of the economy alive rather than letting the cleansing process take its course. The subsidization of the housing market is doomed to failure, because there simply isnt enough money and credit available to keep it going indefinitely. All government is doing is re-flating a …