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Monday, August 13, 2007

Stock Market Brushfire; Will There Be a Run On The Banks?

By Mike Whitney
The contamination from the massive real estate bubble has now infected nearly every area of the broader market. The swindle which began at the Federal Reserve--with cheap, low interest credit---has spread through the entire system and is threatening to wreak financial havoc across the planet. The Fed's multi-billion dollar bailout will do nothing to contain the brushfire they started or avert the catastrophe that lies just ahead.
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By Carolyn Baker
It is crucial to understand that the current economic meltdown is a transfer of wealth from the middle and lower classes to the ruling elite. Wealth transfers do not just happen, nor are they the products of incompetency. They are intentional and well-planned.

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