Re: US banks likely to fail as bad loans

SwampMidget wrote:
“While we may be PAST THE WORST of the turmoil in financial markets,
we’re still in the early stages of the TRADITIONAL CREDIT CRISIS YOU
TYPICALLY SEE during an economic downturn,”

U.S. leading economic indicators are up.
GDP economic growth is positive.

Sorry to disappoint you, muto2000, but we'll get through this cyclical
downturn just fine. Just as we have over the past 200+ years.

Here's something for you to chew on:

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The Telegraph is reporting widespread protests, including rioting and
the burning of cars and gas stations (by "youths", just as it is
reported when discussing France, incidentally) over the government's
sudden imposition of gasoline rationing. Ahmadinejad's regime
announced the strict controls three hours before they were put into
effect.

Angry Iranians have torched petrol stations in protests against the
sudden imposition of fuel rationing in one of the world’s most oil
rich nations.

The rationing was announced on Tuesday only three hours before it was
due to begin at midnight, leading to long queues at service stations
as Iranians rushed out to fill up before the clampdown kicked in.

In the capital, youths set a car and petrol pumps ablaze at a station
in the residential Pounak area of northwestern Tehran, throwing stones
and shouting angry slogans denouncing President Mahmoud Ahmadinejad,
who came to power in an election based largely on his promises to
improve the Islamic republic’s faltering economy.

He has been facing growing criticisms over his economic policies,
which a group of economists claimed earlier this month were fuelling
inflation and hurting the poor.

The Iranian government had been planning for weeks to implement
rationing, which was supposed to begin May 21, but has repeatedly held
off from making the move.

In a country where citizens are used to having cheap and plentiful gas
the issue is a sensitive one.

Lines of more than a half a mile long snaked out of some stations in
Tehran, while riot police were in some streets to disperse the
demonstrators.

Iran is pouring money into its nuclear weapons program and financing
proxy wars all over the region. The money only goes so far and
something had to give. Ahmadinejad chose to shaft his own people.

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WOW! How screwed up must Iran's economy be if they have to ration
gas?! Gas/oil is the ONLY thing Iran has going for it. Just imagine
how bad things will get as Iran runs out of oil and the world shifts
to alternative energies over the next decades.

Back to camels and tents with you primative tribal muslim assholes.

Why would anyone want to chew on "news" that's almost a year old? Do you know the reasons for the imposition of rationing? Have riots continued for the past eleven months?
.