Sep 18, 2008

The Financial Dominos Are Falling - Is The United States Headed For A Depression?

-The Federal Reserve has pumped another 247 billion dollars into the system in an effort to ease the crisis.

-The financial crisis entered a potentially dangerous new phase on Wednesday when many credit markets stopped working normally as investors around the world frantically tried to move their money into the safest investments.

-Ben Bernanke privately told an economist that the Fed has lost control of the economy.

-Spiegel Online says that "The World As We Know It Is Going Down".

-The Federal Reserve has almost quadrupled the amount of dollars central banks can auction around the world.

-Morgan Stanley, the second biggest independent U.S. securities firm, may sell a large stake to China Investment Corp. and it is in talks about a possible merger with Wachovia.

-Meanwhile, in Ethiopia millions of people are absolutely starving.

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