By John Galt
July 5, 2011
The first word out of my mouth after reading Paul Farrell’s latest editorial at Marketwatch was “Wow.” The second thing I thought about was that he was 100% correct. His latest commentary:
7 reasons U.S. needs a Good Depression now
is a testimony to logic, something America is gravely short of these days. The article opens with a salvo which should be shouted from the rooftops:
SAN LUIS OBISPO, Calif. (MarketWatch) — No, do not raise the debt-ceiling. You heard me: Block the debt ceiling vote. Don’t raise it. America’s out-of-control. A debt addict. Time to detox. Deal with the collateral damage before it’s too late.
We need to fix America’s looming credit default, failing economy and our screwed-up banking system. Now, with a Good Depression. If we just kick the can down the road one more time, we’ll be trapped into repeating our 1930’s tragedy, a second Great Depression.
Click on the link above at the title to read the rest.
It is your must read for this week to understand the gravity of our future as the politicians fiddle away dancing around the out of control fire raging at Main Street, U.S.A.
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