Tuesday, February 23, 2010

Mainstream journalists – Always late

Lately the reporting about the Swedish housing bubble has picked up speed. Suddenly all the news outlets are saying this and that and quoting ‘experts’ who argue that it may burst soon.

IF these idiot reporters had actually worked for a living, they would have “revealed” this news a year ago when anyone not occupied with scratching their belly would have known about this bubble. Since then the central bank and government lending institute have done everything they can to destroy the Swedish economy which include propping up the housing market with rising prices when the prices actually should have gone down.

I’ve seen several bloggers lately saying that the Nordic countries stand on a more solid ground when the worldwide depression soon hits us. Although this may be true, that does not mean we will be okay or manage. One of the main reasons for this is the mentioned bubble.

We will not be okay, we will crash and burn with the rest of them, so to all of you out there; please find that grassy knoll overlooking any number of central bank people walking by…

A glass of Vodka, please.

It seems I’m getting it right once again…

I’ve been saying for close to a decade now that somewhere around the first Q of 2010 the worst depression in human history would be a reality. Although I partly have revised this statement because it seemed that the trickery would work for yet another year or so, I do frantically and very amused grab after my bottle when I hear stuff like this:

US Consumer Confidence have plunged from 56.5 to 46.0. This is the lowest since February 1983. Now this is statistics and as such shouldn’t necessarily be taken for face value, but still… this drop is massive, this is the sort of plunge you aspect to see when news about an appending asteroid is cabled out.

Oh, but wait, this funny little excursion into the world of cornflakes and moldy ‘green shoots’ isn’t all there is.

The number of distressed banks in the U.S. rose to 702 in the fourth quarter, the highest level in sixteen years. And please remember, 120+ banks have already failed, poff, are gone. And even funnier, the number seems to increase for every quarter.

And since we know that the added debts to US last year was equal to about 10% of GDP which temporarily have added to GDP, were is the recovery we hear so much about?

Commercial real-estate has just started to implode, and not only in the US by the way…

US unemployment? Still going up, real figure now up at 20%.

But funniest of all, the real kicker that wakes me up at night laughing like a madman is that there’s no leverage left. They cannot do anything more. The borrowing have hit or is about to hit the ceiling, interest rates have been ridiculously low (in reality ‘0’) for a very long time, there’s no money left to do anything with.

The only thing left is the printing press.

The only thing the Federal Reserve can do now is to print, print and print shitloads of money and then pray that the hundred million or so Americans with guns don’t come after them.

And the Obamination?

Well, he could wave that shiny Nobel Peace Prize on TV and try to hypnotize people that all is well at the same time as more babies, women and entire families are wiped out by the US war-machine in Muslim countries.

This isn’t it, not yet, I am still waiting for that light breeze to knock over the deck of cards the enemy class has stacked up, but surely it cannot be far off…

Tomorrow I’m going to buy 50kg of suger and other useful items soon to be very expensive, what are you going to do?

And so they pull a ray-gun out of their hat

Apparently fusion research is starting to pick off with American scientists at the Lawrence Livermore National Laboratory in California has seemingly a laser that soon will be used to produce nuclear fusion in a process that could deliver vast amounts of clean, reliable energy in a process fuelled by nothing more than water and the hydrogen that it contains.

Actually fusing hydrogen into helium is said to happen in 2011 or 2012. At this stage the system would be able to deliver 20 times more energy than the laser actually uses. The financial break-even would come in 10 to 12 years when the first laser-powered fusion electricity plant is built.

This fusion technology opens up so many possibilities that even I can look forward to the first human colonies in space during my lifetime. Only to mention one possibility of many.

As I’ve said before this sort of almost free and abundant energy is one of the very few means of breaking free of our current financial dilemma. The only other one is some sort of divine or alien intervention. Thankfully, or sadly, depending on your take on things, it will take too long for any such development to reach far enough and a decade or two (scientist always overestimate their progress) isn’t anywhere near enough time to save our world from total financial collapse.

However, if this news has merits we would have the means to take us out of the depression which creates both possibilities and dangers. A hope for the human race is that we by then have learned the facts, faced up to reality and thrown out all the leftie madness that put us into this mess. If so, most of this century will become the best time ever in human history.