No? Well now's your chance.
In case you haven't noticed, there is a big push on. The Oracle spoke for 3 hours on CNBC yesterday and said his Banks are ok. Bernanke garbled on for an hour this morning and actually only said 2 things that matter. The Chief of Citibank sent a letter to everyone he could think of to say they made money during the last 2 months, notwithstanding certain toxic assets. Little Jim donned his platform loafers, mustered up his game face and went to the Senate Committee this morning and Stylish Steve is to make an appearance later today in support of calming the twitching, grumbling, sweating masses of calamity sticken citizens. Yesterday, he told us how much better off we are than other peons. Plus a number of other players are working their way through into the limelight with various schemes and dreams seemingly intent on parting people with what money they have left, or in the abscence of that, reaching further into the big government pocket in order to use your money for their gain.
So, are you ready for your Excellent Adventure? Your first ride on a Starship?
FULL POWER TO THE ENGINES MR. SCOTT!!!!
So, like I said recently, they are coming to get what you got left. The above is all in an effort to prise loose private money and get it back into the market and to justify the bailouts both past and future. In case you missed Bernanke, basically he said we need to make changes. Changes we should have made 3 yrs ago. Blah Blah. Then he said we must save the banks. 19 times over, because there are 19 of them that are on his list. Plus he turned down the mark to market changes that the schiesters were looking for. Well, for now anyway. Maybe he thought that was a bit to much to sell all at once. People are still smarting from the other ponzi schemes.
Well there you have it folks. That's what the great minds have been up to. I'm not sure if it's the arrogance or if it's the blackmail that's bothering me most. Regardless, the stock markets are jumping to life today, just like a hungry trout after a shad worm on a nice spring day. Gold dropped under $900, and Oil is herky jerking around trying to find another crises to attach itself to.
The King is dead, long live the King!
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First to recover? Guess he has a limited memory when it comes to historical fact. Whatever.
ReplyDeleteHere's something for you Comrade:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a7p7mebDmYyY&refer=home
And as I said before I don't like comparing our misery against others.
Dee, I commented some time ago on credit card balance increases as being the means many people were forced to use to compensate for increased energy related costs last year and the numbers bear out the significance of that. Not to down play the significance of this, it's the derivatives that make my innards do flips.
ReplyDeleteCredit cards will produce losses, but they are a far more direct form of indebtedness as compared to the obscurity of bundled securities thrice removed and quite possibly worthless and irretrievable. It's that grim reaper perched on the shoulder of the financial industry that has even the mightiest of Titans looking at crossing the bridge over troubled waters. IMHO. I guess that's why they want to isolate them in bad bank entities. Whatever the frig that is supposed to be worth. I take it as meaning, just set them aside, and start over with what's left that's still recoverable and go on from there.
But they want everyone else's money to continue their game. As per usual.
Actually, I'm going full circle here in order to come back to what I believe is the best course. I just want to explore everything else first.
Merde!!!
ReplyDeleteTalk about criticizing the Israel lobby group!
http://www.huffingtonpost.com/2009/03/10/chas-freeman-slams-israel_n_173740.html
Dude's got balls.
Dee, as I said in one of my recent tirades, dealing effectively with intransigent foreign governments that depend on foreign aid is a must priority if this World is going to ever have any real balance. There was an informative article published recently on East Jerusalem that was quite telling. Don't remember where I saw it, might have been a link within a link. I want to bring forward a thought process on all this, but am waiting for now. It's such a simple concept, but yet huge in it's overall considerations.
ReplyDelete