Sep 27, 2008

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Between Scylla and Charybdis

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On today’s show we are officially pronouncing the perfect financial
storm is underway after so many years of warning about its
approach. Today’s show is highly focused. Do not think for a
moment that the proposed bailout is going to stop the storm’s
progress. It will only settle the first squall.

First, John executes another extended boralogue explaining the
evolution of our current Fannie and Freddie crisis, why congress
and the fed are almost out of options, and where the perfect
financial storm will head after this. We find ourselves entering
stage four of inflationary cycles, where citizens are outraged but
there are few options; much pain and no gain. The end is that
taxpayers will have to foot the bill. Thus we are sailing between
Scylla and Charybdis.

Then we’ll honor a promise to you and pick up the Russian thread
we began a couple of weeks back featuring a long conversation with
a former army intelligence officer, who toured all of the Soviet
Union both before and after its collapse. Ralph Peters is the
Russian-speaking author of “Looking for Trouble,” and he is the
sole guest featured today.

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