Tuesday, January 15, 2008

Correction

As in a "market correction".

As of this week, we have just gone below a 10 percent market correction in the Dow from it's high of 14280 within the past year.

The financial chickens of a reckless Fed. and an unregulated market are coming home to roost.

Thank Alan Greenspan for turning loose the loose money to try and prop up an economy for his buddy GWB who also never met a spending bill he didn't love.
Particularly military spending.

The dollar is in free fall as the worlds reserve currency and we're about to hit bottom in the coming months. Hard.
And there is nothing the Fed can now do to change that.
Lower rates? The dollar will take a bigger hit, oil and food prices will go higher and inflation will go through the roof.
Raise rates? Consumer spending will go in reverse compared to where it is now, as will the sale of new and existing housing.

The world markets are still spinning from our Feds recklessness, and the unregulated "structured investments" that are threatening to wipe out trillions of dollars in the blink of an eye.

Stupid homeowners who can't afford what they thought they could flip for an easy profit (or lord knows what) will just start leaving the keys in the fucking mailbox and walking away.
Banks are just now BARELY showing the world the staggering mountain of shit debt on which they now sit.

This was an amazing wealth transfer like none ever seen.
Brought to you by the "free market" and cheap credit.

Will we ever learn?

And what will Bush propose this coming week?
250 buck tax rebates. HAHAHAHAHA. Awesome.
That ought to buy gas for a month for a two income family.
Maybe.

Within the last couple decades or so, the oligarchy in this county:
Busted the unions the best they could.
Eviscerated the manufacturing in this country and sent it all overseas.
Passed NAFTA.
Removed regulations to keep us safe.
And on and on.

Feels great, don't it?

2 comments:

Robot Zombie Vampire said...

And that's why I keep my cabbage buried in the backyard.

LA said...

You forgot to mention that unemployment is totally on the rise.

Just think, Sunday is the 8-year mark of Dubya taking office. When he was sworn in, this country was in the black.

What a fucking disaster.