Blogged something about frog legs market yesterday, well it turns out that the market is increasingly teetering under its own weight and yeah...no spindly frog legs can hold it up. So the bastion of democracy and freedom burns with this analyst predicting that food and shot gun futures zooming upwards the opposite track as the money markets plunge like a ton of bricks!:
And in case anyone needed additional symbolism, a glass panel near the top of a Bank of America skyscraper in Midtown Manhattan fell more than 50 stories onto the street below and shattered. No injuries were reported.http://news.yahoo.com/s/ap/20080917/ap_on_bi_ge/financial_meltdown;_ylt=AveoJS5bs8t6AbZ21X6f3mas0NUE
In the United States, the faltering economy and banking system have begun to dominate conversations at dinner tables, bars and online, not to mention seizing the campaign trail.
One blogger, Michele Catalano of Long Island, posted this on Wednesday: "Dreamed about AIG and the stock market, woke up with the urge to stock up on canned goods and shotguns." Mortgage rates, which had fallen after the government's takeover of Fannie Mae and Freddie Mac, rose again, removing a glimmer of hope that the housing crisis, the kindling for the broader financial meltdown, was hitting bottom. And new statistics showed that construction of new homes and apartments fell a surprising 6.2 percent in August to the weakest pace in 17 years.
The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs. Treasury officials said the action did not mean that the Fed was running short of cash, but simply was a way for the government to better manage its financing needs. (Source: the same link as above, read the whole story) and later link to http://finance.yahoo.com/banking-budgeting/article/105782/How-We-Got-Here-It-Is-Housing-Stupid
Burn America Burn while in Malaysia, idiotic politicians are battling for a prize that no one in his sane mind would ultimately want since we are headed for an economic wasteland and as collateral damage a social ..............so carry on fighting and issuing threats and demands for you and I well know that at the end of the day: menang jadi arang, kalah jadi abu seems to be an becoming more than a proverbial reality!..unless that quest by rebel boy is related to the epilogue below and my earlier post (read my post and especially the post article comment).
Epilogue: curious isnt it that when the economy in the US of A is hit with a massive hemorrahage, this rears its head as a sort of blood transfusion! i remeber similar noises when Bear Sterns went under 6 months ago and the first signs of collapse started 2 summers ago.
read all and enjoy:
:http://www.upi.com/Top_News/2008/09/17/Cheney_aide_Bush_wont_attack_Iran/UPI-84641221678878/ (why must he say this and remember "read my lips"?)
revert : Oh Winds of War and Chaos, blow thine enemies of Allah into the scrapheap of history. My next post will be on the options available to acertain PM unless he beats me to it!