I don’t believe that, but it feels good to write a headlline like Zerohedge does.
The crew at Zerohedge writes some seriously interesting stuff. It’s too end of world for me, but I see links all the time from people I trust and I click.
I also get asked way too much for my opinions on this heady stuff.
My overall take of where we stand today is the banking system is not broken. The markets are not broken. They are rotten. If they were broken, they would get fixed because it would be too profitable not to fix. There are banks at all-time highs right now that did not need TARP. There are going to be banks that lend you money with a credit score below 720.
I have seen broken…it was the Phoenix real estate market. You woke up in 2009 and were 30-40 percent poorer than you did in 2008 even if you were not in the real estate business. That sucks. If you used leverage you were broke. You wanted the banks to fail in the hopes that they would forget you owed them money.
MF Global $MF is bad and Jon Corzine is a dangerous financial terrorist. But, Jon is friends with Obama and he will get a slap on the wrist at best. There will be another MF Global and it will make MF Global look like wimps.
It could happen tomorrow. It could happen in 2012.
But, hundreds of securities will triple in the aftermath and you won’t need to know the first thing about a bank or shortselling.
The Romans satisfied the crowds with gladiators, we get wimpy ultimate fighting.
I think 2012 is the year of a witchhunt and those are not good for markets.
Nothing is ever perfect. That’s the opportunity!
Unless the US and rest of world gets four or more Saudi Arabias yesterday — pumping away of course w/ the crude oil — the SUV economy is kaput.
USA is built on premise/promise of endless $20/barrel oil. Not, $100/oil which bankrupts everything slowly … (unless it bankrupts fast).
good post
Perfect quote: “Nothing is ever perfect. That’s the opportunity!” – Love it!
happy new year david – glad you get some insights here
steve from virgina ……….your stupid please educate yourself.
If the wiichhunt is against Wall St, known den of financial criminal terrorist scum, I’m all for it.
Help save the world economy – kill an investment Bankster today!
Every lamp post on Wall St needs to be decorated with a Broker on a rope.
lets just say punch a banker, hug a developer
Help save the world economy – kill an investment Bankster today!.Thanks for sharing this post..!
What will happen to the united states if china india and all the countries and all investors the world over shun the dollar. Interest rates would begin to rise on treasury securities and the federal reserve would be forced to buy bonds from the treasury to fund the government day to day and pay the interest on all of the governments bills notes and bonds. When the buyers for united states debt obligations disappears the whole system will come crashing down. This is the type of thing that peter shiff has been warning everyone about when the ability of the united states to pay its debts becomes clearly in doubt all the buyers for united states debt securities disappears overnight.
As far as a financial chaos goes I do not think or I should say 2008 and 2009 took the cake. The real concern everyone should have is inflation. The possibility exists that we will see Hyperinflation. Not unlike the bouts of inflation that occured in south america. If you think the inequality of income and wealth is bad now wait untill inflation really kicks in to something like 20 or 30 percent. The bottom 30% of the population which owns few assets like a home and has very marginal job skills and their by little leverage to demand wage increases would be devastated and suffer the most from this inflation unable to no longer afford even the basics of life like food shelter and medical care. And they would most certainly rise up along with everybody else.
…and to top that off; would be the end if the same president gets elected. Chaos shall happen.