[Peace-discuss] Peter Schiff says US Financial System is Ponzi Scheme/ FedReserve says Economy to get worse.

[E. Wayne Johnson]

I am sure that Peter Schiff didnt get this from AOTA!  But neither did I 
get it from Schiff!


      You Tube - Peter Schiff calls US Financial System a "Ponzi Scheme".


Peter Schiff and Don Luskin on Kudlow - Jan 6, 2008 
<http://www.liberty4urbana.com/drupal-6.8/node/62>

*


      Fed predicts economy will get worse

NEW YORK (CNNMoney.com) -- The U.S. economy is likely to deteriorate 
further this year and unemployment will rise into 2010, according to the 
latest forecasts from the staff of the Federal Reserve.
This bleak forecast was presented to Fed policymakers when they met last 
month and lowered interest rates to near zero. Low interest rates are 
one key tool the central bank uses to try to spur economic activity.
According to the minutes from that meeting, the central bank is now 
predicting that gross domestic product, the broadest measure of economic 
activity, will fall in 2009.
"I think that the Fed is really very scared right now -- like everybody 
else -- and they want to pull out all the stops," said David Wyss, chief 
economist for Standard & Poor's.

http://money.cnn.com/2009/01/06/news/economy/fed_minutes/index.htm
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