I've been hesitant to say that this is it but as the bad news keeps on coming maybe it's time to rethink things and admit what I've suspected, but was afraid to say.
The party is over!
Today was a bloodbath of sorts as Wall Stree tanked, oil surged, unemployment surged, foreclosures grew and once powerful industries showed signs of failure. All of this is of course driven by the crisis unfolding with regards to energy. Oil will soon pass $150 a barrel as it sets it's sights on the $200 mark. Once that happens, all bets are off as the global economy will come crashing into depression, food shortages will appear in unlikely places, war will be waged and perhaps the greatest social upheavel in human history will thus begin. Yes, the party is over and what happens next is scary shit.
1. Stock markets tank big time.
2. Oil rises over $11 a barrel.
3. Biggest rise in unemployment in 33 years.
4. FDIC says banks could fail.
5. 1.1 million homes in foreclosure, millions more on way.
6. Amerians $1.7 trillion, yes trillion, poorer.
7. Airlines barely hanging on.
8. Consumer debt jumps by $8.9 billion in April.
It goes on and on but you get the picture.