 |
I'd say it's a full-scale panic. Are you having a run on the banks yet? It's brutal here. We're telling clients to invest in canned food and shotguns. |
So all those stimuli and bailout things didn’t work out? Whodda thunk! They were union/ACORN/DemocRAT ideas too! Damn!
Marc isn’t the only one predicting a crash. One economist said to invest in ‘canned goods’.
|
I'd say it's a full-scale panic. Are you having a run on the banks yet? It's brutal here. We're telling clients to invest in canned food and shotguns. |
And besides, Roubini said the recessions over.
Swine Flu Threatens Deflation Slump, Ernst & Young ITEM Club Report Warns (UK)
"Britain risks sliding into a long deflationary recession if the H1N1 swine flu pandemic develops along lines predicted by the Government, according to the Ernst & Young ITEM Club report today."
[snip]
It will not have arrived, until the various levels of government default. But get ready, and buy only necessities.
Fiscal Ruin Of The Western World Beckons
"For a glimpse of what awaits Britain, Europe, and America as budget deficits spiral to war-time levels, look at what is happening to the Irish welfare state."
[snip]
Oh crap...we are all going to die.
Unbelievable what boards will do to avoid the inevitable:
CIT Group Inc. was close to securing $3 billion in last-minute rescue financing from its bondholders Sunday in a deal that should keep the struggling firm -- once the largest issuer of small-business loans in the U.S. -- out of bankruptcy court, people familiar with the matter say.
[snip]
This is nothing more or less than a bet on an imminent economic turnaround and return to at least trend growth.
Sorry folks, that's a bet you will lose, and then CIT's creditors are going to wind up with even less in the inevitable bankruptcy that will follow, as the value of the remaining assets will have been diluted further by this "side deal."
The creditors need to file an involuntary petition against the company here and now to preserve what's left of their investment.
There are so many things wrong with the latest rally... and it doesn't help when you see the bearish patterns developing in the major indexes...
And I'm not surprised to see what CNBC did... that show is predicated on the fact that we MUST have a evergreen bull market...
Bob Brinker says we go higher. We probably go higher despite the country circling the drain.
It was all smoke and mirrors. Fake economy yields fake home values. Fake home values yielded home equity loans greatly exceeding market values. The fake economy went bust last year and now the fake economy is going to go bust again. It will keep up this cycle until after 2013.
People are are fleeing the 'Golden State' in huge numbers. Rumors say that as many as 250,000 per month are just packing up and leaving. But nobody really knows.
In Oregon people are rushing out of state, too. Local news stations were reporting this today. Oregon has an admitted unemployment rate of 12.2% today. But I know the true rate is much higher. Under-employment rates of another 10% are possible. Almost everybody I know is working in part time jobs to make ends meet.
Savvy employers know they can hire two part-timers at lower wages than one full-timer. Companies are not pay any ealth care benefits for part-timers. Obviously companies are not paying pensions and do not offer 401(k) programs either. Some companies are even laying off full time employees to hire part time workers. Wonder of wonders . . .
Governor Schwarzenegger Talks Tough in This Video Clip
But it's all Bovine Squat. Mostly Arnold is getting ready to throw his hat in the ring for president. After 0 moves to amend the Constitution to allow foreign born aliens to run for high office. Arnold should have an easy path to victory.
'Seig Heil for Bilderberg' . . .
Pinging because this affects us all.