2008 Great Depression

A lot has been happening lately, Fannie Mae and Freddie Mac have been snapped up. AIG has been snapped up. Bank of America has taken over Merrill Lynch. And, most recently a new bill is proposing a massive, nearly 1 trillion dollar ($700 Billion Dollar) bailout for the economy en masse.

Regardless of your opinion on what is happening, or how to eliminate the downward spiral I found this video this afternoon courtesy of Digg.com. The video features Peter Schiff, former Ron Paul adviser, discussing the economy and the proposed government intervention. It is a very interesting watch:

Regardless of what happens - the bill passes and the current crisis is delayed for a few years or a few dozen, or it doesn’t and a terrible crash and rebuilding ensues, one thing seems to hold true, things will get worse before they truly get better. I also noticed at the very end of the video the video’s author on YouTube added his website and information as a quick marketing tool.

We’ve noticed locally, businesses closing, and everyone in general seems to be effected by the slowing economy, higher prices, job losses, a general slowing. But, it is those who stay creative and nimble, that can weather this storm, no matter how long it lasts.