John Loeffler Steel on Steel: Between Scylla and Charybdis

John Loeffler Steel on Steel: Between Scylla and Charybdis

09/27/2008

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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.