THE TV TOUTS LIKE SANTELLI, KUDLOW AND CRAMER...ALL WANT OBAMA TO "DO SOMETHING" ABOUT THE BANKS...
WELL MY HUNCH IS THAT NEXT WEEK THEY WILL GET THEIR WISH...
OBAMA WILL HAVE NO CHOICE BUT TO TELL THE AMERICAN PUBLIC THAT THEIR BANKING SYSTEM HAS BEEN LOOTED BY WALL STREET...AND IS NOW INSOLVENT...AND BANKRUPT FOR ALL PRACTICAL PURPOSES...
THE NOTION THAT PEOPLE LIKE GREENSPAN ARE TELLING PEOPLE THAT THE BANKS WILL BE NATIONALIZED IS PROOF ENOUGH THAT IT'S OVER FOR THE US BANKING SYSTEM... GREENSPAN KNOWS WHAT HE DID TO THE BANKS...AND THAT THEY ARE NO LONGER VIABLE...
I FEAR THAT THE TOUTS ARE GOING TO GET THEIR "ACTION" NEXT WEEK...ON THE BANKS...
AND THE DOW COULD BE SITTING WITH A 6000 HANDLE BY NEXT FRIDAY...
THE GOLD MOVE ABOVE $1000...AND HOLDING ALL DAY...WAS SURPIRSING...
BUT THIS SHOWS JUST HOW PANICKED PEOPLE ARE... IN THE OLD DAZE THE NERVOUS NELLIE GOLD BUGS WOULD HAVE SOLD AND RAN...
BUT TODAY...THE LINE OUTSIDE THE GOLD MARKET WAS AROUND THE BLOCK...
WHY? PROBABLY BECAUSE BOFA AND CITI WILL BE GOVERNMENT BANKS BY THE END OF NEXT WEEK...
BE CAREFUL WHAT YOU ASK FOR...YOU MIGHT GET IT...
