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In This Section
Primer On Economic Collapse
For Immediate Release
October 20, 2008
October 20, 2008
Contact: Kevin McVicker
Shirley & Banister Public Affairs
703-739-5920/800-536-5920
kmcvicker@sbpublicaffairs.com
Shirley & Banister Public Affairs
703-739-5920/800-536-5920
kmcvicker@sbpublicaffairs.com
PRIIMER ON ECONOMIC COLLAPSE
“Crisis in Pictures” Explains How We Got Here
- Stowe, VT – Today Casey Research investment analysts unveiled a new report “The Crisis in Pictures,” complete with easy-to-read charts and graphs, that outline the origins and swift collapse of the housing market, the credit market and financial institutions once regarded as “too big to fail.”
- The Government Ran Up Sizable Deficits: The U.S. budget has run up deficits in 30 out of the last 35 years.
- Mortgages Started to Default at Record Levels: So many borrowers defaulted that investment performance began to fall outside of predictions.
- The Federal Reserve Traded Secure Treasuries for Loans Too Toxic to Be Held By the Original Lenders: If this trend continues, the Fed’s balance sheet will be degraded.
- The Federal Reserve Used Billions of Dollars to Prop Up Private Banks: This is an unprecedented and unintended power of the Fed.
- As Loans Lost Values, Banks like Wachovia and IndyMac fell: As more people defaulted on mortgages, the value of mortgage-backed securities was called into question.
“The purpose of this report is to put the current turmoil into perspective and to communicate the most salient cause and effect relationships that have brought us to this point. The scope of the problem is wide and complicated. This report puts events in focus,” said Olivier Garret, CEO of Casey Research.
“The crisis that we predicted more than four years ago is upon us and seems to be getting worse. In order to preserve their savings and to build future wealth, investors need to be armed with the reasons for this economic turbulence,” said Mr. Garret.
Some of the key points of the report include:
Casey Research continues to monitor these and developments and produces unbiased, actionable investor information.
Casey Research is a team of highly experienced investors and trained economists who spend countless hours researching powerful economic trends and the very best ways to profit from same. Their clientele is made up of individual and institutional investors who share the costs – through subscription fees - in exchange for unbiased research and information they can use in managing their portfolios to produce above-average returns.
To obtain the complete report or to schedule an interview, please contact Kevin McVicker with Shirley & Banister Public Affairs at (703) 739-5920 or kmcvicker@sbpublicaffairs.com
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