I expect this goes on for a while at the source, but I really have a lot of trouble singling out the bankers on this one. Even they only needed cash to stanch the losses the government forced on them. What really crashed everything was the recognition by money managers that Obama really was going to win and he really was coming after their funds. So they did everything possible to get out of the way (cf 500 bn going missing on 9/15/08). Then the Obamatrons got in control and really started trying to scare people. And it worked. I know I’m still scared and I’ve been through a major correction in my life (1987).
It will be amazing to watch how many alledgedly scholarly people are going to go out on a limb to try to hang this on some semi-guilty bystander to avoid having to call the president what he is : Mickey Bricks on steroids.
For those of you who don’t know, Mickey is the lead character in a British TV show called ‘Hustle’ where the cast are long-con past-masters. By the way, Mickey is of African extraction, probably more so than our Dear Leader.
We have just launched on a toboggan ride from the crest of the mountain, and like a surfer riding “in the tube”, we are just ahead of an avalanche that comes spilling after us.
Not much chance of outrunning it, we shall have to stay “in the tube”. Until we escape to the side, or are overwhelmed.
We are having an adventure, folks. Some stark realizations are now being made known to us, even as the world seems to come crashing about our ears. In the end, you shall lose everything, but perhaps, you may be able to regain equilibrium, and even in chaos, salvage a few very valuable lessons, which may be passed on to the next generation.
If they are willing to listen.