Well, "they" (the Treasury, the Fed, and our elected officials) floated the - "have the Treasury/Taxpayer backstop the mortgage and housing market - baloon.
I wonder what is next?
The Financial index, as meassured by the Spiders ("XLF") was down 4.55% today to $17.83. I had posted that anything below $17 should be viewed as Armageddon...
Washinton Mutual and National City are closing in a ZERO. How much money does the FDIC have? Not enough to cover these 2 and 10 more like them - and there will be 10 more like them, probably by year end.
All of this has moved MUCH, MUCH faster than even my most dire posts. Housing is in FREEFALL, and no amount of government intervention is going to prop it back up.
I think the really SCARY thing for supporters of BIG GOVERNMENT is the realization by the masses that most of the services we got from government were overpriced, over-hyped, non-essential, inefficient, wasteful B.S. that people wanted as long as they did not actually have to PAY for any of it. The free lunch is over - and you are going to pay through the nose. The quicker we can shut down these agencies and "benefits" the better off we will be. But your local, state, and federal governments will fight back. They LIKE those exalted positions, ridiculous benefits, and no workd jobs. Wouldn't you?
Good Luck!
Mentatt (at) yahoo (d0t) com
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4 comments:
A good medieval style warlord controlling each county seat in America with the SWAT team as enforcers should be all the government we need. Patronage or serfdom can be doled out according to usefulness. Worked in the past, no reason not to work in the long emergency.
It's gonna be so much fun! Much better than big government.
Ahhh. The self amused, sarcastic liberal elite...
Why does it have to turn out that way? Grace me with your intellect.
I would be happy to post your response and open it for discussion.
Please.
Have you read your www.dieoff.org today?
How about "The Market is Simply too Cheap to Meter"?
Or is that being too nihilistic?
Supposedly Jay Hanson has lightened up a bit in his assessment but he thinks it not worth discussing any more.
Maybe he's right? Maybe not?
In the end, nobody does get out alive.
Not really into dieoff.org.
But I have a distinct advantage. I am QUITE sure that I have no power with which to change the course of mankind. I have a hard enough time getting the kids ready for the day and out the door myself.
So I spend 100% of my efforts providing for me and mine. If you do the same, things will work out, until they don't. And I am confident that mine won't be dying off, otherwise I would just hang myself in the garage!
I have a post coming up titled:
"Every Hour Wounds. The Last Hour Kills" - An Old Folk Saying. it is an oldie but a goodie.
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