I thought that the 700,850,1T bailout plan announced at the beginning of october was the first step in setting a floor. I didn't think it was the bottom in the market, but perhaps in the crisis. I just wanted to post. That I was wrong. The crisis is far from over. I know this will end. But it will be a long while. And we may not look the same as a country or even a culture. 1. It's becoming apparent that this is no longer the unwinding of the real estate bubble, or mortgage securities. This looks to be the early stages of the unwinding of the last 80 years of fiat based monetary system and fractional reserve banking. The corrupt have finally seized complete control of the monetary system. 2. The entire financial industry has imploded. That the regional players remain insulated is because it just hasn't hit them yet. This is not a nuclear explosion but rather like a giant tsunami, which is slowly moving across the map. Just because the weather's nice right now does not mean hell is not coming. http://dealbook.blogs.nytimes.com/2008/11/10/american-express-to-become-bank-holding-company/ Had the government not intervened we would have survived and recovered. But the elites have decided to save the foolish by pledging the wealth of the nation. What little wealth there is. 3. The government has lost complete control at this point. There is no longer rhyme or reason to the bailout. Retail companies are folding daily but we will rescue three dinosaur companies one which has not produced a profit in over a decade. These companies have been regulated into oblivion and are no longer companies but socialist proxy work programs of the American government. They produce nothing of value, and have been subsidized via monetary inflation in order to provide employment for a particular voting bloc. They will now be directly propped up. All the original estimates of the bailouts are exploding and only 45 days into this stage of the process. Where will we be in 6 months? 4. There is little or no faith in American enterprise, institutions, or perhaps even the fellow man. We are one flash away from chaos. As the realities of the humanness and fallibility of the new administration become more apparent these risks will only increase. 5. We have placed our desperate hopes in a Man with no experience, no economic knowledge, and who has little faith in capitalism or American Exceptionalism http://en.wikipedia.org/wiki/American_exceptionalism He believes in class struggle and redistribution. That greatness of America was validated not because of our enterprising people but because we elected him. At a point in time when we need to be turning to our best Americans we will persecute them and reward the poor and miserable. 6. We are no longer in a struggle for a economic growth, we are in a struggle for liberty, economic liberty, respect of property rights. Millions are actively encouraging the government for pursuing confiscation of individual property and millions more stand by apathetic to the plight. Where is the outrage? How can we be so accepting of the government stealing our earnings via taxation, inflation and nationalization? The difference between The American Capitalist Republic and a European Socialist Democracy is quickly reaching zero. We have become so selfish a nation we are pledging our childrenâs and grandchildrenâs prosperity perhaps even their liberty to secure a few days of materialism without the hard work and savings necessary to earn it. The real prophet?
These companies have been regulated into oblivion and are no longer companies but socialist proxy work programs of the American government. They produce nothing of value, and have been subsidized via monetary inflation in order to provide employment for a particular voting bloc. They will now be directly propped up. -------------------------------------- Bravo!!! Brilliant. But now what?
Yes we are only in the beginning of the planned storm.......so button down the hatches and get ready! :eek:
It is kinda sad that 99.9% of the ETers truly believe that the markets are gona turn around. It shows the lack of understanding how deep the current downturn has been. Do we really think we will not end up, at best, in the same fate as Japan's lost decade? Are the majority of American's that blind? I guess, the last thing one can hold on to his hope, before they wake up to the truth, and the truth will hurt the majority of American's. Obama will not save you. This is a generational unwinding of LEVERAGE. All the middle class who are LEVERAGED will be wipped out. PERIOD. Nothing is going to save them, not the banks haulting Forclosers, not the banks refi's, the debt is there and it will not go away. There will be pockets, certain states that will weather the storm. But the majority of America will fall into a depression. Question is, which states will survive and what industries will thrive?
Yeah, and all these so called leaders will get run over by hyperinflation soon enough too.. I wonder what will be left after a year or two of that shit? Obama trying to keep all his black voters happy with their government jobs and welfare by running the presses and running like hell from the political blowback from the private sector, that should be fun to watch...
Perhaps areas that have a large state work force and centralized school districts. College towns and state capitals. Private industry, not quite sure at this point. We should see an underground cash economy develope.
There is only one CLEAN way out of this mess......a small business revolution that starts to regain some employment strength. This expansion and growth needs to be based on growing revenues/margins and NOT from debt!!!
What's your idea of small business? The easy money has been legislated out. There was more profit in accounts receivables than the product you sold. If the co delivering your heating oil had equal or better risk trading futures why bother with the truck and employees? It is pervasive and destructive across all industries.