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This is a powerful article by a long-time financial commentator (Allan Sloan) who is not known for hyperbole or literary excess.

Here are a couple of snippets from the article. But, if I were you, I’d immediately click over and read the whole thing.

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On the one hand, the stock market continues
to climb against all odds….on the other hand, record numbers of
Americans are bankrupt, in foreclosure, receiving food stamps, or all
three.

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Follow this link to get to Chapter 9.

This section of the Crash Course will give you the necessary background
to understand that our current monetary system is not really all that
old. Therefore, comparisons of today to past monetary crises might be
illuminating, or they might be misleading.

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Below, I’ve liberally excerpted from an article I read a couple years back that always stuck with me.

Since our challenge today is to know
whom to trust and which story to believe, I thought I’d bring this one
back to the forefront, because the parallels are so striking between
the late 1920’s and now.

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Are we in a recession, heading towards one, or
not? The stock market seems unconcerned with the Dow rising 3.2%,
S&P up 4.2%, and the Nasdaq 4.9%. This collection of news items
will help you sort this out.

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On the brink of disaster; USA 2008: The Great Depression; Recession Indicators, part II; Pompous Prognosticators; Credit crunch triggers $2 trln drop in debt underwriting; Basic groceries up 8%, farm report says

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Our money system requires that ever larger
amounts of new credit be issued or else the banking system becomes
really unhappy. Consumers with credit cards is one form of credit,
mortgages another, but the a really, really huge piece of the credit
pie is the corporate debt markets. This article points out that a
massive shortfall in this arena has happened.

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The US government says that food inflation is
up 4% over the past year. The Farm Bureau, which simply measures prices
and does not statistically manipulate prices via substitution or
hedonic adjustments, measured an 8% gain in just the last three months.

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There are lots of opinions on where the price
of oil is going. Some think that it’s headed back to $38. Some, like
the expert oil analyst ´Zapata’ George Blake, think it‘s
going much, much higher. Depending on which story you believe, your
likely actions and decisions will be (and should be) vastly different.
Better choose wisely.

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Lots of articles have recently come out about
food shortages, riots, and rapidly climbing prices. Last August the
Federal Reserve and European Central Bank started lowering interest
rates, pouring liquidity into the world marketplaces, and trading
prized treasuries for near-worthless debt. Food riots and central bank
maneuvers are more closely linked than you might suspect.

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