The Real State of the US Economy

[omega_news]

Henry Paulson Has Lost Control Over US Finance

By William F. Engdahl

Behind the reassuring statements from Paulson and others that the
"worst is over" the reality of the credit collapse since August 2007
is a deepening economic contraction which I have said several times in
this space will surpass the Great Depression of the 1929-1938 period.

http://www.informationclearinghouse.info/article20404.htm



Economic Free Fall?

By William Greider

The nation, meanwhile, is flirting with historic catastrophe. Nobody
yet knows how bad it is, but the peril is vastly larger than previous
episodes, like the savings and loan bailout of the late 1980s. The
dangers are compounded by the fact that the United States is now
utterly dependent on foreign creditors--Japan and China lead the list--
who have been propping us up with their lending.

http://www.informationclearinghouse.info/article20406.htm