Rocky Vega

The economy is still in tatters. Despite the bailout-fueled “rally,” there are a couple of shoes that have yet to drop and, according to Financial Armageddon, there are about 23 of them. In its recent post, “the sum total of all that is wrong,” it highlights 22 major areas in which the economy is completely broken and needs a major overhaul.

Here are the top ten problems…

1. A broken global credit market that has not fully recovered.
2. Lack of transparency in Mortgage-Backed Securities and other re-packaged debt instruments.
3. The increasing Federal debt, which is growing at an unprecedented rate.
4. Mountains of consumer and corporate debt.
5. The Federal budget deficit.
6. Ever-expanding bailouts.
7. Monetization of the National Debt.
8. The destruction of the American consumer economy.
9. Chronic unemployment, possibly much higher than officially reported.
10. More than $500 Billion USD in hedge funds that have borrowed short and lent long.

The full list of 22 reasons for why this recession is different originally comes from SurvivalBlog. Financial Armageddon adds an important 23rd factor that Agora Financial editors frequently mention but is often overlooked by the mainstream media — the nation’s decrepit infrastructure.

Rocky Vega

Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.

Recent Articles

The Next Car You Buy Will Be an Electric Car

Stephen Petranek

Electric cars are proving to be far cheaper to operate than anyone could have guessed. In fact, many people are now just getting the equivalent of thousands of mpg to their electric cars. And that's presenting a unique profit opportunity. Stephen Petranek explains...


A Treasure Chest of “Secret” Buy Signals

Paul Mampilly

The world's most successful investors almost always think differently. That's nowhere more apparent than when you're trying to invest in health care. Today, Paul Mampilly - one of the world's top biotech analysts - reveals one "secret" for making money from a predictable cycle in the industry. Read on...


Natural Gas: How to Stay Warm (and Profit) This Winter Season

Greg Guenthner

Right now, the city of Buffalo, NY is covered in five feet of snow. And while that may be bad news for those poor folks, it could be good news for you. Because now that another harsh winter is upon us... you have a massive opportunity for quick double-digit gains. Greg Guenthner explains...


Tip of the Day
3 “Dirty” (and Sexy) Ways to Boost Your Health Tonight

Chris Campbell

Warning: The following article is not for the puritanical. Today, Chris Campbell shows you three "dirty" health boosters you can use tonight to raise your immune system... improve your outlook on life... and make your partner a happy camper. Read on...


The Shock Doctrine: When Order Trumps Personal Freedom

James Rickards

When some event - be it a terror attack, financial panic or natural disaster - upsets the status quo, people are more willing to relinquish their freedom in favor of a greater sense of security. And that's when ambitious political leaders make their move... And as Jim Rickards explains, another such event could be right around the corner. Read on...