Recession stares on world's largest economy
Friday October 10, 2008 21:14:00 EDT

(RTTNews) - The $700 billion bailout package passed by the House and signed into an Act by the US President George W Bush last week was meant to rescue the financial sector from a collapse and induce confidence in the market in particular and the economy at large. However, it has failed to elicit the desired response.

The economic data released during the week also reaffirmed the fact that the US economy is slowly but surely marching towards the recession, which, many analysts believe, will be worse than initially thought.

The fiat currency regime or the expansionary cycle, triggered by the paper currency created by the banks out of thin air is showing clear signs of vanishing into where it came from - thin air - and the inter-bank rates have started moving in t (continued...)