For rather more informed and reputable analysis of the global financial crisis, I recommend Mike Whitney:
On Friday, Bear Stearns blew up. It was the worst possible news at the worst possible time... The world's most transparent and profitable markets have been transformed into a carnival sideshow managed by hucksters, flim-flam men, and rip off artists. The Bear bailout is yet another glaring example of a system that lacks all credibility and is quickly self-destructing.More Whitney analysis here:
The dollar has plunged from $.87 on the euro in 2002 to $1.55 on March 12, 2008; losing nearly half its value since Bush took office. And there's no sign of a turnaround...I like this quote from John Quiggin's blog:
As the massive cycle of deleveraging continues for the over-extended hedge funds; Triple A assets will be sold for merely pennies on the dollar sending the faltering banking system into a last, lethal swan dive. Good riddance.
“Gold is for optimists, I am diversifying into canned goods.”