Stock market plunging into pit of despair so scream the headline at : http://news.yahoo.com/s/ap/20081010/ap_on_bi_ge/meltdown_stock_market_fear;_ylt=AneZud18kn2H3IuWGun3WFlv24cA
2 veritable quotes worth pondering over:
1. "It's not just psychology," Santa Clara University finance professor Meir Statman said of the stock market sell-off. "There are some things happening in the world that are pretty scary. We have every right to be scared."
2. And some economic doomsayers still think it could get a lot worse.
"The economy has been in terrible shape for a long time. It was built on an illusion before this," said Mike Stathis, an investment consultant who wrote a book called "America's Financial Apocalypse." "I think people are starting to recognize what's coming, so why wait around for it to get worse?"
Observe the allusions to the house of cards and illusions, i have been harping about in my previous posts.. well i am not taking any satisfaction in all this for i see billions of innocents (me included) suffering traumatically due to the selfish egoism of a few (read the psot below)
Once the music dies and the wine kegs run dry, America will be well into a helluva hangover that will churn tummies and short circuit hearts. As pathologists dissect the shrivelled corpse, the causes for America's demise will be recorded for posterity in the annals of apothecaries. The sore thumbs, who choked the gullet of the American dream, will stick out for eternity as the first harbingers of doom.
America's fate was in actuality sealed by 2 spokes of the same wheel. The Oracle and his mantra : Deregulation. Add to these, a delusional nincoompoop who thinks he is King Richard the Reincarnate and a congress comprising Bozo and the Clowns :
Mr. Levitt said that Mr. Greenspan’s authority and grasp of global finance consistently persuaded less financially sophisticated lawmakers to follow his lead.“I always felt that the titans of our legislature didn’t want to reveal their own inability to understand some of the concepts that Mr. Greenspan was setting forth,” Mr. Levitt said. “I don’t recall anyone ever saying, ‘What do you mean by that, Alan?’ ”
plus a polity of rednecks, hillybillies, libtards and bra burning scaws,and you have all the ingredients for a mouth watering vanity play . Sprinkle a touch of greed, a dash of ego and a pinch of hubris and boil and you will get a beef stew for the soul that's destined to blow your mind to smithereens and burn your tomorrows into glowing ember.
Back to the Oracle aka Alan Greenspan . A Fed Chairman who more than anyone else personified the reel Gordon Gecko for real and who won an Oscar for fashioning that peculiar American addiction for OPeeM (read OPM or Other Peoples Money) into a montage of derivatives, junk bonds, subprime loan packages and other fraudelent works of high finance. And to let loose the demons within to stalk for hapless prey within the Walled Streets of the New Babylon, Greenspan, with the support of his fellow soulmates Robert Rubin and Larry Summers, resisted any form of regulatory oversight, thus effectively entrusting the till to the moral compunctions of upright thieves.
A professed libertarian, he counted among his formative influences the novelist ,Ayn Rand, who portrayed collective power as an evil force set against the enlightened self-interest of individuals. In turn, he showed a resolute faith that those participating in financial markets would act responsibly.
An examination of more than two decades of Mr. Greenspan’s record on financial regulation and derivatives in particular reveals the degree to which he tethered the health of the nation’s economy to that faith.
Read what Siglitz has to say about the Oracle:
“..............didn't really believe in regulation; when the excesses of the financial system were noted, [he and others] called for self-regulation—an oxymoron.”
The rest as they say is history in the making...or is it really the End of History? Fukuyama may be right after all, only that all these presages the end of the American (dajjal) system and the beginning of the long awaited Islamic Era when justice will bloom where iniquity once reigned, all this after the Clash of Civilisations as presaged by Huntington and his troupe of Neo-Con jokers . So Fukuyama and your ilk, you guys will soon be having a mighty hell of a constipation over this statement:
That is, the end point of mankind's ideological evolution and the universalization of Western liberal democracy as the final form of human government."
And hovering like a malevolent spirit over the rubble of an illusion, is the vixen of New York chic, the matron of the "Collective", the dominatrix of sexual perversion, the high priestess of Objectivism, the resident Witch of the Libertarian castle and the thought criminal par excellence,Ayn Rand. It was this troll more than anyone else who shaped the lives of many a heroic secular American and whose immense contribution were paeans to the Selfishness ideal in such cardboard tomes like Atlas Shrugged and The Fountainhead as well as in a series of books and essays (see below). So in the near future, when would be scribes flip through the leaves of history and archeologists sift through the catacombs of America, it would well worth remembering that to show hubris is to invite wrath and the idols of the marketplace are merely the tin can images of minds who in denying Him denied themselves. like I have written in blog articles elsewhere,
"Western Civilisation founded on a firmamanet of shifting man-made paradigms, ideologies grounded by moral relativism and a blatant rejection of the Divine is more apt to produce plastic societies and illusionary constructs be it in the political, economic, social or cultural spheres. There are idols everywhere within the temples of politics, the marketplace, the social sphere etcetra. They are resurrections of the Marduks, Osiris, Mars, Venus, Shiva, Vishnu, kuan Yin, Tua Pek Kongs etcetra of yore. Illusions that tap into man's innate fear of the Unknown and enchain him in an existential ennui of paralysis....................................."
One such temple is afire now and the illusion within crackling to cinders. Its blaze will soon spill into the political arena. Then, we will have an all consuming inferno that awaits to be doused by the the waters of Reality- Islam.
Revert: To all wouldbe saviours, Gringo lovvas and Yankee suckers in Canland... "Bye-Bye Miss American Pie,...... this is the day that U will die". You denied, ridiculed and maligned Allah and his religion, no problem.. Islam will Now Come to You
1. Greenspan,Alan : The Age of Turbulence (get the paperback edition to witness how he defends his role in the whole quagmire)
2. Agency’s ’04 Rule Let Banks Pile Up New Debt -Stephen Labaton in New York Times
3. Doherty, Brian: RADICALS FOR CAPITALISM : A Freewheeling History of the Modern American
4. Rand, Ayn: The Virtue of Selfishness: A New Concept of Egoism
5. Rand. Ayn : Capitalism: The Unknown Ideal (1966)
6. Rand, Ayn :The Romantic Manifesto: A Philosophy of Literature (1969)
7. Rand, Ayn : An Introduction to Objectivist Epistemology (1979)
8. Fukuyama, Francis : The End of History and the Last Man
9. Huntington, Samuel : Clash of Civilizations