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30 Reasons the "Great Depression 2" is Coming Soon  
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Tags: Great, Depression, recession, money, bad, worst, economy, politics, top 10, top 25

Here are thirty reasons why the next Great Depression is well on its way.

	AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers
	American Express joins Goldman, Morgan as bank holding firms, looking for Fed money
	America's credit rating may soon be downgraded below AAA
	Big three automakers near bankruptcy; unions, workers, retirees will suffer
	Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
	Corporate bond market, both junk and top-rated, slumps more than 25%
	China's sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai
	Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse
	Commodities down, resource exporters and currencies dropping, triggering a global meltdown
	Despite global recession, U.S. trade deficit continues, now at $650 billion
	Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars
	Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"
	Fed also plans to provide billions to $3.6 trillion money-market fund industry
	Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year
	Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists
	Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up
	Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs
	King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
	New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt
	Now 46 million uninsured as medical, drug costs explode
	Outgoing leaders handicapping new administration with huge liabilities
	Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall
	State, municipal, corporate pensions lost hundreds of billions on derivative swaps
	State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt
	The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities
	The "antitaxes" message is a new bubble, a new version of the American dream offering a free lunch, no sacrifices, exposing us to more false promises
	Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
	Unemployment heading toward 8% plus; more 1930's photos of soup lines
	Washington manipulating data: War not $600 billion but estimates actually $3 trillion

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