Bonds...bid way too high, coming back to earth, deleveraging Emerging Markets.....decoupling theory is one of the worst theses in modern economic history, deleveraging Commodities.....some demand destruction and deleveraging Citigroup Savings account.....the neoAmericano junk bond Other Currencies.....unwound carry trade, and failed decoupling theory, flight to safety in, yes, the Greenback, and more deleveraging Alot of "it" was credit. Credit was the world's currency until 2007, and credit has the uncanny ability to appear or disappear at will, and in staggering amounts. It's the same as a contraction in the money supply, it's deflationary. We've seen such a contraction in the "unified international currency" (credit) supply.
While we're at it, let's just go ahead and blame the Sri Lanka typhoon, Hurricane Charley, 850 handles of SPX, 60% obesity rate, 95 ave IQ, and Janet Jackson's nipple all on GWB. There, so, Obama gets a clean slate from all that. He's ALREADY been one of the worst presidents or all time. He's ALWAYS late, he wasn't born in this country, he lies everyday, and he's going to get the blame for the next 200-300 handles off the SPX AND 20% unemployment. Take a few minutes and just sit back, clear your mind and put yourself back in 1750s. Think about how things were. Think about how these sonuvabitch attorneys are talking their bs to you about how they are going to lead you forward, all the while having a hand in your wallet. You got fed up. You got to the point where you'd rather die a capitalist than live a coward. We are not too far off. This is a much more dangerous time because of technology and because of Obama.
His horrid tax proposals, et. al., have "absolutlely nothing" to do with what's going on? How about all the zillions of jobs he'll create after slashing the deficit by introducing a bigger and bigger spendulous plan? Yeah, no connection. It makes sense--about as much as Obama.
Ironically, the Boston Tea Party was due to a repeal of taxes that lowered the cost of goods for the Colonists. History is many things, but rarely is it black or white.
I am no good, unlike the rest of you, at extrapolating into the future nor assigning outcomes to momentous events only days old that history has taught us usually take months or years to come to fruition. But I can look back with some certainty at least and see that the collapse of the US financial system cannot be blamed on any one individual, but rather a cast of characters, among whom would certainly be Alan Greenspan, but many others as well, a philosophy of government and human nature, of course, which sadly includes greed as one of its least appetizing aspects, and let us include also the propensity too accept far too much moral hazard in some sectors of the financial world.