I assume you are referring to the worldwide sell-off of equities as the mess, and that is not a "credit mess". It is a spending mess: consumer spending, lack thereof.
The reason why equities have sold off the last 3 weeks was based on the credit mess with Europe and the U.S. downgrade, I highly doubt anyone who trades would challenge this. And yes Europe does have a credit mess, and while we are not there yet, we are well on our way if we dont fix our problems.
You're wasting your time Max. Ricter thinks we should spend/borrow our way to prosperity. With some economy crushing taxes added for good measure.
What we are seeing is a worldclass, worldwide meltdown of Socialism. It's very much the same as when the Soviet Union tore down the wall in Germany. The Soviets promised a lot and delivered poverty. The promised land reforms never happened. I have a friend from Ukrania. He told about his grandfather who fought in the original revolution that overthrew the Czars of Russia. He said that his grandfather was strung along by the rhetoric for nearly all of his life before he realized that the land he was promised was not going to materialize... I cannot see how anybody can disagree with the idea that it's Socialism that is failing but one raging, fox-news-hating, bullying moron just about turned a lunch table over on me when I said that. He maintains that it's capitalism that is melting down and he wanted to prove it by kicking my ass!! Capitalism is a much more fundamental thing than Socialism. Socialism is a construct, Capitalism is just men being men... Capitalism cannot meltdown on it's own, it can't meltdown at all, left to run it's course failied entities will have their owners shoved aside and the pieces will wind up in the hands of competent men and they will get on with their lives...
The European Welfare State is collapsing before our very eyes in spectacular fashion - and the Democratic Party does not seem to notice, and it certainly has not influenced their political platform nor their platitudes. Amazing.
Evidence? You're joking, right? You've been absent during the whole "we're in debt up to our ass" conflict that is been in the news? As for the VXX, 90% of the country could give a shit about the stock market. It isn't the government's (or Fed's) job to support the stock market. You're long right now, aren't you?
Ricter doesn't trade. He just poses. http://www.elitetrader.com/vb/showthread.php?s=&postid=2788731#post2788731
Indeed, This is the kind of insanity we are up against, people who think we can get rid of a worldwide credit/debt problem, by simply spending our way out of it. I had a pretty tough week this week, dumped close to 50k with most of it coming yesterday, i think im going to go out and max out all of my credit cards this weekend, and see if i can get that money back by spending as much as possible.....