This 1981 Movie Eerily Describes What's Happening Today
February 23, 2009 by Patrick Madrid
Filed under Patrick's Blog
Hey, everyone! Here’s a great way to start your week! (/sarcasm).
Seriously, though, take a look at this montage of scenes from the 1981 movie “Rollover,” which depicts a catastrophic global economic implosion. It could have been made today, in 2009, for its grim scenario is unsettlingly similar to some things we’re seeing today.
Also, check out this interview on the economy and dangers we face, especially the last two minutes of the interview. Some very grim predictions here:
Yeah, except, really, what’s described in the movie isn’t happening.
China IS NOT ceasing to lend Americans money. They’re seeing this as a buying opportunity. Besides, foreigners own less than half of American debt. People are buying reliable treasury notes and money markets becuase the capital markets aren’t returning good interest rates worth the risk.
The dollar is NOT collapsing. The dollar is rising against the Euro and the Pound.
When you’re selective with facts (who quotes “Fast Money” as a reliable source of economic information???), you can make a case for anything.