2008 crash deja vu: We’ll relive it, and soon

[marmar]

2008 crash deja vu: We’ll relive it, and soon
Commentary: New bubble is hotter, bigger than the last one

By Paul B. Farrell, MarketWatch


SAN LUIS OBISPO, Calif. (MarketWatch) — Warning, the stars are aligning, again. Much faster. We’re repeating the run-up to the 2008 meltdown, leading up to the next election.

Yes, another crash is coming, unavoidable, just like 2008. Not because our totally dysfunctional government is collapsing into anarchy, thanks to the 261,000 Super-Rich Lobbyists. Not just because our monetary system is run by the Bernanke Printing Press Company. And not just because a soulless conspiracy of Wall Street CEOs cares nothing for democracy and the public interest, only for their stockholders and their year-end bonuses.

Another crash is coming soon because we’re back playing the same speculative games as we did for years prior to the 2008 crash. When we collapse, it will be because America’s leaders never learn the lessons of history. Never. In a BusinessWeek editorial, Peter Coy and Rouben Farzad described the bubbles:

“It’s as if 2008 never happened. Once again the worlds investors are pumping up bubbles that will probably explode in their faces. After the popping of a real estate bubble led to the first global recession since the 1930s, world markets are frothing like shaken Champagne. Pundits claim to have spotted price increases that are unsupported by economic fundamentals in assets ranging from U.S. farmland to Israeli biotech to Australian housing to Chinese cemetery sites. Commodities have soared. Global junk-bond issuance hit a record in the first three months of the year … this is the granddaddy of them all, an almost-encompassing bubble right at the heart of monetary systems.” .............(more)

The complete piece is at: http://www.marketwatch.com/story/2008-crash-deja-vu-well-relive-it-and-soon-2011-04-26?link=home_carousel

[Squeech]

1. It'll only affect us

China will start selling their $3 trillion of Treasury bills, the dollar will tank, and all of these bubblicious assets will then be priced appropriately.

[orangeapple]

4. Bernanke must be stopped!

It's too late to prevent massive damage, but we can arrest the decline and lay the foundation for a genuine recovery if we can end the debasement of our money and resultant economic miscalculation it engenders.

[Po_d Mainiac]

7. And Holder needs to prosecute the fraud!! n/t

[Donnachaidh]

2. wouldn't be surprised if they were well aware of this, but hope to use it as a re-election ploy

*I -saved- you during the last one - your only hope is to re-elect me again so I can fix this one*.

[fredamae]

3. This matter will rest solidly at the

Republicans feet. Period.

Record filibusters, obstruction toward regulations, big oil subsidies, no tax reform and much, much more.

375 bills passed the house that would have benefited all of us. Not that I would agree to all of them, but non-the-less, the Dems bills in the Senate were all filibustered in a pure political manipulation to "hurt" Americans, destroy the economy just to create Obama's "water-loo".

I hear that the pubs are now fomenting a plan for the upcoming month to "pound him with high gas prices". Ok, so if the rise in gas during the "pre-general" election during 2007/2008 wasn't "W's" fault, how can this one be Obama's?

Never Forget! There are plenty of video's and voting records to Prove who is responsible.

[Kablooie]

5. WE know that, but the public has forgotten last week, let alone last year.

And it's so easy to simply blame everything on the president.

Unless the Dems hit back hard we will continue to have a GOP congress wielding vicious scissors that undercut the foundations of our country.

[fredamae]

6. I won't argue that we have our work

cut out. Thanks to the repub lawmakers, both state and federal levels, even the "teaconipubs" have opened their eyes. I don't believe this task in 2012 is insurmountable.