Wednesday, October 20, 2010

Piling On....

As I peruse the financial news today, I learn that Britain is going broke and shedding services and gov employees in massive cuts. They are getting rid Harriers, Aircraft Carriers, and many servicemen. The USA is pretty much alone in it's continued wars against Afghanistan and Iraq.

And now the USA is hell bent on fighting a currency war as China speeds the rate at which it is getting out T-Bills.

Then I see that my joking prediction from 2006 or so, was already common practice...
It appears as though many loans and other mortgage-related assets have been double and even triple-pledged to various constituencies.

And another one... I've been pointing out since 2000 that the USA would eventually enjoy some IMF style looting. Well it's here. I know some folks welcome the privatization of public services. Privatization for them is always a good thing, so long as it happens to someone else. Just wait until you start going months boiling all of your water before you drink or cook with it, and you can't stand the smell of it. That's the norm in many place where public water supplies have been privatized. Now it's coming the USA.
U.S. Debt Woes Expose Hidden Austerity and Looting of Public Assets

I'm seeing bad news on every front, with the banks exposed for engaging in fraud on a massive scale taking center stage. And of course they will be granted immunity from prosecution and lawsuits in their upcoming bailouts. As you can see, all of this crappy news is bolstering the markets. The markets of course are bolstered by good and crappy economic news.

This is it. This is a slide in my view that's worse than anything we've seen in months, and I think it's just getting started. Perhaps before the month is out, we'll even see the market experience some effects from the crappy economy and crappy state of business and banking. But don't put any serious money on it. I'm sure that that any perceived relationship between the markets and the financial health of our economy are purely coincidental.

And finally, for the kids that like to read and report on their parent's online activities...
NSA’s Newest Recruiters: Cartoon-Leopard Twins

8 Comments:

At 5:16 PM, Anonymous edgar said...

Hi Weaseldog,

the NSA is creepy. they have to stay busy because they have a lot of high level criminal scumbags to protect.

 
At 4:51 AM, Blogger Bukko Canukko said...

That NSA page is both creepy and pathetic. The pathetic part is that even a near-geezer like me can see how hokey the characters are. They were probably created by a Gen Xer based on what looked kewl to him in the early 1990s, but what's hot with contemporary proto-spies is way different. Have you heard of "Johnny the Homicidal Maniac" for instance? Sick chit like that and Japanese anime are the rage now, according to my 20-something daughter.

 
At 2:38 PM, Anonymous edgar said...

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/why-is-obama-putting-a-fannie-maegoldman-sachs-lobbyistconsultant-as-nsa-105059764.html#ixzz12uHYvfat

 
At 10:04 AM, Blogger Dave Dubya said...

I wonder how much we'd save if we cut the NSA and CIA out completely, and "Homeland Security" for that matter. Something tells me we're not getting a good deal out of those agencies.

Of course it could never happen. They are embedded into the police state and are an essential part of the Washington consensus narrative.

 
At 10:10 AM, Blogger Weaseldog said...

The CIA would probably counter that they are largely funded by black market activities in the trades of money laundering, gun running, buying and selling child sex slaves and smuggling drugs, so they won't be effected by budget cuts.

The NSA would probably just laugh and finance their activities by siphoning money out of our bank accounts.

 
At 10:12 AM, Blogger Weaseldog said...

If I seem to be a little bit persnickety, it's because I've picked up a cold. It's not too bad. I'm just a bit achy and tired.

 
At 12:51 PM, Blogger Dave Dubya said...

Yes, let's not forget, WE work for THEM.

 
At 1:26 PM, Blogger Suzan said...

I just want to know if they're hiring.

S

 

Post a Comment

Links to this post:

Create a Link

<< Home