Washington Bailout a Bust. Depression to Follow

By Gerald Celente Once again, Washington has proven that anything it touches is doomed to failure. Unable to win wars, repair levees, fix voting machines or rebuild its Twin Towers, the colossal $700 billion bailout package passed last week by Congress proved to be an instant bust. As we predicted in our 26 September 2008 Trend Alert Put the Bailout on the Ballot -- "The bailout plan will only bail out CEOs and preferred stakeholders of failing financial firms while sinking the American people deeper in debt." With not one major success to their credit and a long history of unmitigated disasters to pin their reputations on, the Wall Street rescue package did nothing to solve the credit crisis as those in Congress who rammed it through had promised. "Without immediate action ... America could slip into financial panic and a... [read full story]