Monday, March 9, 2009

Does anyone remember this? E.F. Hutton says....

Time for a trip down memory lane. Seems that greatest economic machine that's ever been created, which Warren Buffet referred to, has some dark moments in it's past as well as it's present.

Perhaps it's time to take a hard look at the past workings of Corporate America, the Banking Industry and Government involvement without the blinders on. Time to consider whether the History is one of a glorious rise of Free Marketeers or a litany of deceit.

Here is an overview from Wiki;

One of the books written on this subject is entitled, "Burning Down the House: How Greed, Deceit, and Bitter Revenge Destroyed E.F. Hutton.


  1. The mission to Afghanistan?? Well, now we know what it's about....

    Copper and oil.

  2. Nacho flavored Ice Cream with 3-in-1 Oil, Botox Supreme and WD-40, covered with Prozac-laced Raspberry Sauce. Sounds scrumptious, no?!
    THOUGHT FOR THE DAY! (Courtesy

    "We must use our vast resources of wealth to aid the undeveloped countries of the world. We have spent far too much of our national budget in establishing military bases around the world and far too little in establishing bases of genuine concern and understanding." -- Martin Luther King, Jr.

    What a concept! Helping others to help themselves! Probably wouldn't work in this world, 'tho -- too few people are wa-a-a-a-y-y-y-y too greedy.
    Refer to me as a conspiracy theorist if you must -- I'VE BEEN CALLED WORSE! -- but I spent a few minutes connecting some dots (not all) and came up with this concoction. Links may / may not go together -- see what you think!

    Lead-in follows. --

    "Try as we might to salvage the residential real estate market, it's at best worth $23 trillion in the U.S. We're struggling to save the stock market, but that's valued at less than $15 trillion. And we hope to keep the entire U.S. economy from collapsing, yet gross domestic product stands at $14.2 trillion. (APPROX. TOTAL, GIVE OR TAKE = $55 TRILLION).

    "Compare any of these to the derivatives market ($700 TRILLION) and you can easily see that we are just closing the windows as a tsunami crashes to shore."

    Out of interest, how much do Cdn. banks have invested in these derivatives? If they are bailed out, will Flaherty add to the $75 bln. already spent, and if so what with? Monopoly money?
    Seeing the headline tells why women are eminently more intelligent than men. --
    From the Financial Times (no link) . . .

    "Obama urged to let banks fail

    "Two powerful Republicans on Sunday called on Barack Obama, US president, to let some big banks fail instead of propping them up with public money.

    "Richard Shelby, the top Republican on the Senate banking committee, warned that the US would end up following the same path as Japan, which suffered a lost decade of economic growth by tackling its banking crisis too slowly, unless some big institutions were allowed to fail."

    Etc., etc. Questions: If these banks are allowed to fail, will anyone profit from this and if so, who and by how much?

    And if AIG fails, how much would it add to the derivatives? --
    And now for something completely different . . .

    ". . . this year at the World Economic Forum in Davos, Switzerland, Vladimir Putin sketched out a new world economic order that links Berlin-Moscow-Beijing-Riyadh and Tokyo. He proposed that these five countries unite their currencies in a basket to supplant the U.S. dollar as the world’s currency of choice. . . ."

    This will screw things up quite nicely!

    BTW, Dow 4,000 by fall, 1,500 by Spring 2010 -- you heard it here first!