CLEARLY...2009 WAS A YEAR THAT THE FED RESCUED THE MARKETS...
TO RESCUE WALL STREET COST THE FED...AND WASHINGTON...LITERALLY TRILLIONS OF DOLLARS...ALL PRINTED OR BORROWED.
GOLD RESPONDED ACCORDINGLY...
UNTIL THE SHORT DOLLAR TRADE BECAME A NO BRAINER...AND THE INEVITABLE SHORT SQUEEZE OCCURRED...
WHAT HAS BEEN MISSED IS THE "DEATH OF THE AMERICAN CONSUMER"...
THE DEATH OF THE CONSUMER HAS NOT BEEN WIDELY REPORTED...BUT IT HAS HAPPEN... TRUE...THE "NEW BUBBLE" ON WALL STREET HAS HELPED A BIT...
AND THE STIMULUS PACKAGE...WAS ALL ABOUT KEEPING TEACHERS, COPS AND FIREFIGHTERS EMPLOYED...
NOT "SHOVEL READY" PROJECTS...AS REPORTED...
2009 WAS A RALLY ABOUT MASSIVE LIQUIDITY...DANGEROUS LEVELS OF MONEY PRINTING...
FURTHER, THE DEMISE OF CREDIT CARD SPENDING AND HOME EQUITY PRICE INFLATION HAS BEEN DANGEROUSLY IGNORED....AS THE STREET IS BLINDED BY THE LIQUIDITY IN THE BIG INVESTMENT BANKS.
2010 WILL BE THE YEAR OF THE GIVE BACK...SOME KIND OF RATIONALIZATION WILL BE NEEDED...
NO JOBS ARE NOT COMING BACK...THE AMERICAN ECONOMY IS STRUCTURALLY DAMAGED... THERE IS NOWHERE FOR JOBS TO COME BACK TO...IT'S ALL IN CHINA NOW...
AND THE GREEN JOBS BULLSHIT IS JUST BULLSHIT...EVERYONE KNOWS...OR SENSES THIS...
THE REAL ISSUE IS WILL THE JOBLESSNESS AND BAD ECONOMY ELECT REPUBLICANS IN NOVEMBER 2010...?
IF SO...THEN THINGS GET MUCH MUCH WORSE ....
WHAT THE US NEEDS...INDEED NEEDED TEN YEARS AGO...WAS A STRONGLY PROGRESSIVE MIDDLE CLASS AGENDA...
WE DID NOT GET IT...
SO REALLY...WE GOT WHAT WE DESERVED...ANOTHER DEPRESSION...
AND THIS TIME A STRUCTURAL DEPRESSION THAT WILL BE NEARLY IMPOSSIBLE TO REVERSE...
