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Stock Market Tremors Continue as Investors Struggle to Find a Safe Place

By: Steve Johnson

2/5/2010 - 50 Comments

Here we go again.  2010 could see another global meltdown like we saw in 2008. 

Global stock market tremors continue as the Dow dropped 130 points before recovering after many of the major markets dropped overnight.

Investors are worried about just about everything.  Several EU nations appear to bankrupt and threatening the strength of the Euro.  At the same time, the U.S. is planning to spend $3.8T to fund its bloated government entitlement programs, which threaten the value of the dollar. 

Japan is a mess and China is very upset about resent U.S. arm sales and increased tariffs that they are threatening the dollar by reducing or stopping their purchasing of Treasury bonds

The global economy is beginning to show cracks in the wall of debt that is holding back trillions in printed money from flooding the U.S. and sinking the dollar.  Yet, global investors are buying up Treasury Bonds because they have no other alternative to safety.

When the safest investment in the world is into the currency of the largest debtor nation in the world, we are in big trouble. 

Yesterday global investors were fretting about the debt ratio of Greece because it is 30% higher than their GDP - but what about California?  California’s deficit spending are about 60% higher than their income.  The dollar is not any safer than the Euro. 

I think we are on the edge of a steep cliff and the global economic crisis that was delayed in 2008 by massive government printing of money is beginning to come unglued.

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The Case Against the Fed

This book, written by Murray Rothbard, an economist and historian of fairly well known repute, is a scathing attack on not only the Federal Reserve, but the interests that created this institution. Rothbard explains how the Federal Reserve is the true source in the destruction of wealth, which has led to the destruction of the middle class and continues to sift money into the hands of the wealthiest.

Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse

In discussions of today's economic meltdown and what to do about it, the Federal Reserve is a stealth helicopter: it never shows up on the radar. With the exception of a few esoteric specialists and those Ron Paul Revolutionaries who burst into chants of "Abolish the Fed!" Historian Thomas Woods notes in this important book, the Federal Reserve bears a large part of the blame for the mess we're in. In the first part of "Meltdown," Woods shows how both in theory and in practice, Fed policy fueled an artificial boom and is now leading us to a much larger meltdown.

Gold: The Once and Future Money

Governments and central bankers around the world today unanimously agree on the desirability of stable money, ever more so after some monetary disaster has reduced yet another economy to smoking ruins. Lewis shows how gold provides the stability needed to foster greater prosperity and productivity throughout the world. He offers an insightful look at money in all its forms, from the seventh century B.C. to the present day, explaining in straightforward layman’s terms the effects of inflation, deflation, and floating currencies along with their effect on prices, wages, taxes, and debt.

Crash Proof

Peter Schiff has predicted the economic hardship more accurately then any other economist in the world in this book. Everything from the housing crash to the credit crunch to the stock market. Peter has a plan to help you servive the crash. Peter explains why the Wall Street investment firms are still trying to sell you stocks, and was the house prices are likely to continue to decline for years to come.