THIS IS THE BIG ONE THAT EVERYONE USED TO TALK ABOUT HAPPENING "SOMEDAY... OR "EVENTUALLY..."
WELCOME TO EVENTUALLY:
THE ONLY HOPE IS TO HAVE LITTLE HOPE... OBAMA SIMPLY CAN NOT REVIVE THIS ZOMBIE ECONOMY...IT'S WAY TOO FAR GONE...
WHAT REALLY HAPPEN...SIMPLY THIS:
THE MANTRA BECAME: "IT ALWAYS GOES UP".... REMEMBER THAT LITTLE CHESTNUT...?
AND WORSE THE MANTRA APPLIED TO EVERYONE FROM INVESTMENT BANKS TO SMALL TIME REAL ESTATE FLIPPERS...
SO WHAT...?
SO EVERYONE LEVERAGED UP..IE BORROWED TO THE HILT...TO TAKE ADVANTAGE OF THE PROMISED NEVER ENDING ASSET INFLATION...
OK SO FAR...?
NOW HERE IS THE DOOMSDAY EVENT...
THE BIGGER YOU WERE...THE MORE YOU LEVERAGED...!
WE ARE NOW TOLD THAT THE BIG INVESTMENT BANKS WERE LEVERED OFTEN 30 TO 1...!! ALL BASED ON THE NOTION THAT IF IT ALWAYS GOES UP...THE MORE YOU HAVE THE MORE YOU MAKE...
SO WHY NOT BORROW AS MUCH AS POSSIBLE...AND MAKE EVEN MORE MONEY ON THE SURE THING OF CONSTANT ASSET INFLATION...!
THEN CAME SEPTEMBER2008.... AND NOT ONLY DID IT NOT GO UP...IT ALL BECAUSE ILLIQUID... THE SYSTEM BACKED UP...THEN COLLAPSED...
WHATS THE CURE FOR TOO MUCH LEVERAGE... WELL OBAMA AND CO. SEEM TO THINK ITS MORE LEVERAGE...
THIS WAS ALL "GREASED" BY A SYSTEM OF SECURITIZATION...AND PHONY CREDIT RATINGS...AND EVENTUALLY BY OUTRIGHT PONZI SCHEMES...
SO THE "TARP CURE" AND THE BAILOUT ARE LIKE THAT MICROSOFT WINDOWS "F8" OPTION OF:
"RETURN TO LAST GOOD CONFIGURATION" ....WHEN YOUR COMPUTER CRASHES...
BUT WILL IT WORK...CAN WE "F8" THE ECONOMY?
MY HUNCH IS THAT THERE NEEDS TO BE A TOTAL "REBOOT" OF THE ENTIRE SYSTEM WITH A NEW MANTRA...AND A NEW MINDSET...
THE "VIRUS" OF... "IT ALWAYS GOES UP".... HAS ESSENTIALLY DESTROYED THE "MOTHERBOARD" OF THE ECONOMY... SO WE MAY NEED TO "FDISK" THE WHOLE THING AND REINSTALL THE OPERATING SYSTEM AND THE DRIVERS FROM SCRATCH...
WHAT'S NEXT...?
HOW ABOUT : "LETS MAKE THINGS AGAIN!"
AND LETS HAVE EFFICIENT NATIONAL HEALTH CARE TO COMPETE WITH OTHER ECONOMIES...
AND LETS "TAKE THE PUNCHBOWL AWAY" TO QUELL ASSET INFLATION LIKE IN THE OLD DAYS...
AND LETS HAVE A HIGH GRADUATED TAX ON EARNINGS OVER 5 MILLION PER YEAR... WHY? BECAUSE ANYONE MAKING THAT KIND OF MONEY IS NOT REALLY "WORKING" THEY ARE "SOME HOW" USING "THE SYSTEM"...AND THE SYSTEM BELONGS TO EVERYONE...
ALAS AS WE ARE NOW SADLY FINDING OUT...!
SO FOR YOU NON-ECONOMIC COMPUTER GEEKS...
THE REAL QUESTION IS:
CAN WE "F8" THE ECONONY
OR DO WE NEED TO "FDISK" THE ENTIRE SYSTEM...
OR ARE WE JUST "F-ed" AND ITS TIME TO BUY A NEW COMPUTER...
