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US Economic Wealth Last Chance Saloon Rant

Economics / UK Economy Aug 07, 2008 - 07:55 PM GMT

By: Mick_Phoenix

Economics Best Financial Markets Analysis ArticleWhat a feckin mess we are in. Yea how the mighty have fallen, whom those that expect wealth see only ruin, how the public will bail out the profligate. Welcome to the incredibly horrible world I have foreseen and how Eggertsson got it so right but how the endgame is so wrong for Joe Public. You think the Mogambo Guru has a deep bunker of absolute denial (MBDBOD)? Well I'll let you into a secret, the fecker is digging wayyyyyy higher in the earths crust than I am.


Doomed? Good grief, get a grip, look about you, doomed would be good compared to what is coming!

Now, most readers know I'm a bearish type of blogger (track record ain't bad) but I have recently seen developments that make me sneer at my own reflection in the mirror for being a bit "bully". My dark side is erupting, my alter-ego awakens. No longer do I consider myself bearish, oh no, now I consider myself a wimp, a puppy in the face of a road crash, a mere sop.

Death and destruction stalk the land and even I, an ultra-bear, am wearing trousers that are brown so no one sees my fear.

Yes fear, true fear that an almighty encompassing of the acceptance of the US Govt willingness to bail out Fannie, Freddie, GM, Ford, et al, is an agreement to participate in the endgame that approaches at such a pace that even drug taking Chinese athletes will falter in the wake of US Govt incompetence.

Do I sound angry, am I ranting? Of course I am! I live in times unheralded by history. Even in the great depression (my favourite album) banks failed, Govt policy failed, liquidity was allowed to retract, growth was allowed to reverse and the mean was achieved to allow the US Govt to reinflate.

Not this time my friends, this time you foot the bill, you cover the liabilities, you bear the costs. God forbid that we take it out of the corrupt banking machine that allowed this mess (that includes the FED) to ferment as they chased profits by securitising lending made to those that they KNEW couldn't repay. Lets forget about all those pension funds that bought the toxic wraps, those Municipals and States that invested in this shite expecting a return.

It's Olympic Day, the opening ceremony of China's Olympic Games. Do you think this is a good day, a day when one of the most abusive governments, a slayer of peoples, a destroyer of democratic protest, a killer of protesters not aligned to a centralist view, holding an opening ceremony that preaches "one world" is good?

If any of you possess a modicum of morality don't watch the Olympics, turn the TV off and do something weird like talk to your partner.

Okay, I accept I may have been somewhat radical in expecting inter-relationship communication but at least suffer a grinding divorce rather than accept this corrupt, evil, non-democratic, baby killing regime into your home.

Or at least only watch the highlights. Cynical, moi? No, realistic, in the same way that I expect the US Govt to enslave the Boomers to everlasting serfdom, that the younger generations will have to accept a "Montreal Games Socialism" of public debt, doubled as the public purse bails out banks, brokers and shifty, ponzi scheme mortgage brokers.

Where are you America, surely you cannot accept this without a murmur? Claim back that moral high ground you fought so hard for, fight for your democratic freedoms.

Or, if your obesity leaves you gasping for breath as you attempt to use the remote control, stop fecking eating so much. Get those 50-60 inch waists mobile, if you have a heart attack in the process think what you did for your country, not what its welfare state did for you, go down frothing at the mouth, gasping those immortal words, so associated with America, "large it up" err sorry, freedom for all.

You get my drift? The US is still a powerhouse, a mover of the world economy but this is truly the last chance saloon. If you do not realise what is happening, who is causing it, why it's being played out this way and who benefits then get up off you large behind and waddle down to a newsagents. When you get there browse without sweating onto the magazines (not "those" magazines) and read something NOT produced in the USA. I don't mean read "All Death to Infidels Weekly" but maybe something from Europe or the free press in the Far East. For god sake wake up and smell your expensive coffee.

If you allow the rape of the economic wealth of "Joe Public" to continue without a grunt of protest, you are no better than those who are hosting the Olympics.

Democracy is a personal right and obligation. Failure is your willingness to give up those rights and accept serfdom and slavery.

Wake up America, throw off the shackles and walk (waddle) away from fast food. Think about the niches left empty; think how you could start up a company to fill the void. Then wonder, in dismay, as you find that expansion using credit has become impossible. Then realise the game has changed and changed for good.

Stuff the stock market; place your money where it is safe. If you have trouble finding a secure investment sector, firstly put yourself into the Hedge Fund Manager performance bracket, secondly remember that mattresses are not just for sleeping on.

Above all, do something! Except invading 3rd world tinpot counries that might have a corrupt oil control mechanism, allowing US companies to bid, unopposed, to get the oil flowing.

Naive, Moi? I am afraid so.......

By Mick Phoenix
www.caletters.com

An Occasional Letter in association with Livecharts.co.uk

To contact Michael or discuss the letters topic E Mail mickp@livecharts.co.uk .

Copyright © 2008 by Mick Phoenix - All rights reserved.

Disclaimer: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Do your own due diligence.

Mick Phoenix  Archive

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