For ten years I´ve been warning, sending letters to papers, writing editorials and telling people that we´re heading off a cliff. Although acolytes of this notion, the notion that The Greatest Depression is about to arrive, increase in numbers day by day, a rude awaking still eludes the general public.
I predicted ten years ago that the first part of the crash would occur 2007 and that our scheming Great Leaders would, through printing, borrowing and lying, keep things sort of going for another 3 years. I was off the mark. Officially the first crash happened 2008 and we´ve yet to see a real apocalyptical fall-out. Since then I´ve just been waiting for it while money masters and the elitist sphere prop up markets even further.
Now, with markets going down across the board with horrible numbers ticking in almost every day, we could have arrived at worlds end. I still don´t think this is it, there´s still electricity running into printers at central banks and there´s still juice left in evil squids. So no, I don´t believe this is the actual real crash. However we´re at the edge right now so a tiny gush from Italian bond trade, a breeze of horrificness curtsey of Spanish real-estate, or a dollar sell-off from the Chinese and that’s it.
As I´ve said many times before Fridays are the worst days - bad news can told better on Fridays since our Great Leaders has the weekend to strut their stuff. And since the last two weeks have been a constant Friday-show, I do expect that either a Vespa runs into a brick wall or a free fall on markets will occur today. However ECB do have tons of firepower and so does the Chinese and (yes, still) Americans. They will not let things crash right now so either they will intervene directly today or during the weekend culminating in QE3, or a massive intervention by the IMF or some such on Monday.
This crisis brought forth by overregulation’s, too much borrowing, too much money printing and progressive ideas is here, have been here all along. You can ignore it, sing tra la la la la or you can do what most idiots out there seem to be doing: blame capitalism. But if you really want to know what is going on, why and how to fix it you better listen to the people that saw this coming miles away. And yes, I am one of them.
Of course too few of you will. Instead you´ll be putting on a red, black, brown or white shirt and start marching around in combat boots.
That phrase “I told you so” is very funny, but when you idiots out there start throwing people into camps, start your revolutions and go even further down the abyss because you don´t understand better, that´s when the real fun starts.
Thursday, August 4, 2011
Firefly quotes about... the world economy?
Blowing coke, eating brownies and smoking crack
Wanna get high?
Still wondering why markets are going down “despite” the U.S. budget agreement?
Well it didn´t take long for more than half of the money that were supposed to last 18months to evaporate. $400 billion was immediately added to the debt limit, but now we know that the latest couple of months after the official date (16th of May) when the debt ceiling was reached, U.S. have been putting down money into that black hole which in reality means that only $162 billion remains.
And so, of course, U.S. debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted. This is the second time in history this has happen, last time was during WW II, but back then the total debt (personal+company+federal+states) was much, much lower, and back then U.S. was the manufacturing engine of the world.
Am sure the Tea Party movement are very cheerful over this one as journalists claim...
... just as they are extremely happy over the tax increase coming up in the future that this implies.
I wonder how many republicans will keep their seat in the next election..?
Of course the bad news doesn’t stop there. As per usual hidden away as a small note we also learn that U.S. private-sector downsizing pushed the number of announced job cuts to a 16 month high of 66,414 in July.
Yeah, markets should be very happy and go up. Right?
I wonder when the last time was I actually read an paper article or saw a news bulletin that actually told facts and the truth of things. I cannot remember when that was.
Well, back to Europe. U.S. fuck-ups are not alone in the world as you can figure out.
Isn´t it fun to see how they move from U.S. to Europe and back again day after day? Well, with tiny reports from China, Japan and so forth ticking in.
Italy seem to be next up on the scene. Kind of surprising to me actually, I thought Spain would go first by far. Italy actually have a manufacturing base and their banks aren´t so exposed to crap as their Spanish equivalents.
But meh, who really cares anymore?
They will all crash and burn, and yes; that goes for Sweden to. My birth nation is highly dependent on trade, have a very static labour market and way too high taxes to in any way be spared from the Greatest Depression.
This is going to be so much fun!
Pick your poison and sit back and relax and enjoy the show. Me I do vodka, each after his own.
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