Today, in his morning letter, Art Cashin said, beware of social unrest. My friends and I have predicted it for over a year, but to hear Cashing talk about it tells me the money changers are well aware of the havoc they've wrought. I don't think it'll be too much longer. Still shocked me to hear Arthur talk about it.
Hi Fly, Do you have a link to Art's letter? Santelli and Art are the only credible voices on CNBC. BTW-- Good thread.
Already happening in the UK and France with their strikes, and Marks' tactics with the NACA could also qualify. Imagine what the situiation would be like as far as social unrest goes if Mccain had won instead of Obama. One could argue that his election kept a lid on things, personally don't buy the theory but fodder for the conspiracy lot, that Obama was put in place by the wealth masters to appease the populous.
It' s the letter they put out to their institutional guys in the morning. If you watch him on CNBC, you'll see him refer to it like, ".......as you read in my notes this morning." I was introduced to his stuff 20 odd years ago at Paine Webber. Great guy, straight up player. I'm sure he's shed a few tears over what the whores have done to his stock exchange. But you know his information is gleaned from the other players on the floor. Since the day is over, I'll share with the actual paragraph. I don't think he'llmind. UBS has more to worry about than the one honorable thing they do on a daily basis: Societal Fallout â As the financial crisis and its economic consequences spread round the globe, be wary of social unrest. We think the huge outpouring at the French strike demonstrations may be an early, temporarily benign, sign of things to come. We are in serious, serious trouble. Hedgefund managers and Wall St. titans, as well as selected regulators will hang for this.
It is a pretty decent theory though - unfortunately, I don't know how long people can be fooled by Obama - they are only going to be able to blame Bush for so long.
1-4 trillion of taxpayer money without eliminating the shareholder and the bondholder will bring about a serious reaction. Going after bonuses is a carrot that wont do. They are floating that balloon seeing if they can get away with it. Good luck lol. This nation was born on those who publicly melted the skin of those who abused them financially. Those weren't just some mobs, we call them Patriots. Again, goodluck They are right to be concerned
Personally, I'm amazed that people in the USA have been as calm, cool, and collected as they are given how badly RAPED the taxpayer has been from the Bush Administration in Q4 of last year. Bush and his buddies Bernanke and Paulson dole out $145 BILLION to AIG and no one bats an eye. Just incredible! I guess if the public at large is able to purchase "cheap" gasoline, have a job, and get money from their local bank's ATM machine and a cold beer every now and then, the populace is fairly pacified. Amazing, but true I think.
I agree w/you. But no. 2 is suspect, three is in doubt if 2 is gone, but you always get a cold beer with rock, if not a gun. You can see it in the Democratic giveaway going on right now. Placate the masses. "Fair", he says. What's ever been fair? The moneyed will pull their horns in, jobs will plummet again, and the Republicans will be back in two years Don't know if that's good or bad, but these people have no answers. that's for sure.