Saturday, March 21, 2009

The Oh Bummers of the New Millenia

Exhibit 1 : The Blitzkrieg on Capitalism

Prologue : I promised you about some economic data regarding the US economy now and in the 1930s..which i am still in the process of compiling. Meanwhile, the DJI as predicted retreated yesterday by roughly 80 points and as I tap these keyboards, the ticker is once again 100+ in negative territory.... (yeah..i am a "fart"-time analyst as well). For the time being, I will leave you to digest this stats (exhibit 1) regarding the extent of wealth destruction that has hit America like a hurricane......Any chance of a recovery is virtually zilch..unless Obama approves OT for the printing press workers holed somewhere up in the Fed...and accelerate Quantitative Easing (QE: a sexy term for printing new money), flood the economy with banana Dollars which will virtually bastardise the world's reserve currency and make China's American dollar holdings virtually worthless.

In addition, Miss Hyperinflation will flaunt her silicone implanted assets for the world to salivate over and in the process lure us down the garden path to the fields of Armageddon... Chew on that and for good measure ruminate on why the world is in a mess today.....Its the Stupidity, Styoopid- a phenomenon not confined to tropical climes of Canland.


America: You Can't Handle the TruthPosted Mar 20, 2009 10:21am EDT by Aaron Task in Media, Recession, Banking

Since the financial crisis began in 2007, policymakers' message to the American people seems to have been adopted from Jack Nicholson's famous line in "A Few Good Men": You can't handle the truth.
John Mauldin, president of Millennium Wave Advisors, says there are two good reasons why Ben Bernanke, Presidents Bush and Obama, Treasury Secretaries Paulson and Geithner, and other luminaries haven't leveled with the American people about the state of the economy and steps being taken to address the crisis. And I'm not (just) talking about the AIG bonuses.

First, policymakers don't really have the answers. There "really is no playbook" for this downturn, says Mauldin, author of the popular "Thoughts from the Frontline" e-letter. He also worries the financial markets are predicated on academic theory that is faulty, and now policymakers are (effectively) trying to put Humpty Dumpty back together again.

Second, while pundits and analysts can afford to be "100% certain – and wrong" about what should be done, Mauldin notes policymakers don't have that luxury since their actions have real world consequences (intended and otherwise). Both points resonate but that still doesn't explain the lack of candor about both the size of the problem and actions being taken to address it. Moreover, there doesn't seem to be anybody in Washington with the leadership skills of Chesley Sullenberger, the hero of USAir Flight 1549.

Revert: Que sera..sera..whatever will be will be

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