Having VIP after VIP step up to the microphone all over Washington, D.C. and Wall Street and LIE clearly does not work to placate the markets.
YOU CANNOT SWEEP FANNIE MAE & FREDDIE MAC UNDER THE PROVERBIAL RUG!!!
The U.S. economy is falling apart, and Oil prices continues to climb (I guess I better get re-excited about Oil, because clearly, Oil doe not give a good fart about the U.S. economy at the moment).
What are the odds that Fannie Mae, Freddie Mac, Ford, GM, Bear Stearns, Lehman Brothers, Wachovia, Washington Mutual, etc... would meet their end at the same time? Seems likely there is a catalyst at work here... hmmmm... Not enough Oil to run the economy in the perpetual growth that these companies, and the system at large, required?
You can still take action. While most people are going to get crushed by this financial avalanche, you don't have to be among them. This would be an excellent time to step off the tracks and avoid that oncoming train. Conversely, if you are stuck, broke, etc... you might as well enjoy the intellectual stimulation. After all, this is a once in a lifetime event.
Good Luck!
Mentatt (at) yahoo (d0t) com
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4 comments:
The pace is accelerating and I think you may be right about the financial house-of-cards all coming down at once. I certainly can't see any of these companies surviving long term - who out there would be stupid enough to rescue them?
Confidence is a funny thing; one day it's there, the next day ......
Personally I think the shit will hit the fan in the next 6 weeks, certainly by the end of September. As you say, we are all spectators in a once-in-a-lifetime experience. I'm just glad I'm watching it all from Europe.
I'm just not sure; what happens afterwards???? What kind of a world will be be discussing in December? Or 2009?
I been reading your blog for a while and jsut want to thank you for these informative posts. Basically I think we can sum this all up by saying we're all screwed.
Do broken windows generate growth?
“Ben Bernanke, chairman of the Federal Reserve, praised programmes that seek to demolish the most ramshackle units in order to “mitigate safety hazards and reduce supply.””
Samuel Clemens once lamented:
"Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it."
Unfortunately over the last few days they have removed all doubt.
Also saw that foreign investors were attempting to trade their worthless US-issue I.O.U.'s (aka dollars) in for something of potential tangible value, such as Anheuser Busch and GE's appliance and lighting division, which is apparently being spun off so that GE can concentrate on its core competencies....entertainment (NBC) and finance (GE Capital).
If GE isn't competant enough to make lightbulbs, how the hell are they supposed to remain afloat?
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