NO ... its not the start of a recession, it's simply the continuation of the greater depression which the history books will call the great devastation 100 years from now.

With the amount of money printing, and fiscal stimulus (deficit spending) if it the housing price collapse could have been fixed it would have been fixed.

This is Bernanke's experiment ... a ruthless protection of the status quo for the fascists with the end result being the collapse of society. How soon ... no idea, in the next 10 years ...almost certainly.

A cold cellar with controlled humidity with a sizable supply of rice, pasta, olive oil, unroasted coffee, spices etc ... (turn it over annually through use or charitable donation to food banks) along with a woodlot (1-2 acres cleared) tank of gas and kerosene and you have all the insurance you need, have helped others and prepared for the worst case scenario.

Alternatively do as I did and move away far from the maddening crowds to Australia ... massive resources, temps you will not freeze to death in and out of any real warzone.

I always wondered what happened to the great civilizations prior to the Roman's and Greeks ... even their fall is not well chronicled (could be the rich don't wish for too much information to be available to see the direct comparison of behaviours leading to the last days.)

When you consider the engineering of the Pyramids, what really was Stonehenge ... indoor plumbing and the aquaducts ... so much progress lost.

Its been said "those who have not learned from history are doomed to repeat it". Whats missing is those who have learned from history will exploit those who have not ...

If you really really believe in the benevolence of governments after watching the brutal force in imposing slavery, the serf system etc and more recently force used to address attacks (i.e A-bomb), WMDs, social uprising (think G20 brutality in Toronto), then you can trust that it couldn't happen and that government really will do what is good and right for people.

Call me skeptical or even cynical ... but benevolent government is imo a temporary method to ensure exploitation continues ... its a fairy tale and as my mentor Machiavelli taught me simply and a means to justify and end ... that end is power control and wealth increase of those the prince.

GLTA

orgy