I don't know whether to applaud - or run for the hills. If this doesn't freak you right out of your shoes you are not paying attention.
Think about it. Senator Evan Bayh says the U.S. political system is irretrievable broken and in need of an electoral "shock" on the same day that a sitting Fed President says we are heading inexorably towards a financial disaster...
Let's sum it up: our leaders are now telling us that our political and fiscal constructs are on the brink of going Chernobyl. This is why I am so concerned that something really, really bad could happen at any time from 5 minutes from now out till the later part of this decade. If you are a family man (woman) with responsibilities - this would be a good time to avail yourself of some serious contingency planning.
How could it hurt?
These are true leaders. Bayh and Hoenig had the courage to warn the American people, and I a commend them.
Libertariananimal (at) gmail
6 comments:
Here is another explanation of why Bayh is leaving:
"
Matt Sledge, Huffington Post...
For many years Susan's membership on several major corporate boards (eight of them, in 2008) was something of an open secret. Only over the course of the health care reform debate was it widely spoken about in Indiana. With Bayh playing a prominent role in the haggling over the public option and medical device fees, it was impossible to ignore the fact that WellPoint, a behemoth insurer, was paying Susan Bayh hundreds of thousands of dollars.
Between 2006 and 2008 Susan earned $2.1 million from health insurers. Legal under Senate rules, Susan Bayh's refusal to step down from WellPoint's board, and her husband's denial that the millions she had earned from WellPoint would influence him, were greeted with derision from ethics watchdogs."
Thank you for that.
Great data point.
Govt. is doing what it has been doing for a while now .. just trying to get thru the day. There is little long-term planning anymore, which is too risky and based on ever-changing political realities. Maybe the Fed guy and Bayh are just another couple guys "ringing the bell," but nothing is going to change. Change takes too much work. In 2008 who was ringing the bells of distater then? Almost no one, except perhaps the hedge funds. Bottom line .. government can only deal with one day at a time for now. Forget delusions of fixing the problems now. Just plan your investments around what's going to inevitably happen -- it's all you can do.
Screw the politicians’ drinking buddies, my bankster pals need the last few billions before it all blows up. That is what I got out of that.
Bur says that govt can now barely make thru the day!
And Robert Hirsch says that the US will need 20 years of WW2-level high-level mitigation preparations in order to enter the peak oil situation with any hope. Not much progress in this area..
And nothing has been fixed after the big 2008-2009 meltdown in the financial sector. None of Wall Street's crime bosses doing the perp walk. No real inquiries. No handle on the derivative situation.
And Obama is expanding the wars like crazy while our enemies wait for us to bleed out in the ME sands.
Hey we are going in the wrong direction!
No rush to "mitigate" oil and natural gas at the present time. This country is awash in oil (330 million barrels in storage - a level that hasn't much changed since 1935) and natural gas (the shale gas is producing so much they don't know where to put it all) presently. Government isn't going to do a damn thing till there is an energy crisis. That's just the way it is these days. So, enjoy the low prices while you have them. :)
Post a Comment