IF 2009 WAS THE YEAR OF GREAT BULLSHIT RALLY ON WALL STREET...
2010 WILL BE THE YEAR THE SHIT HITS THE FAN...
BASICALLY WE ARE GOING TO DISCOVER THAT NOTHING HAS BEEN "SOLVED"...EXCEPT SOME OF THE HEALTH CARE PROBLEM...
AND WE ARE JUST DEEPER INTO THE POST BUBBLE DEPRESSION OF 2008...
2009 WAS THE YEAR THE MEDIA AND WALL STREET BOUGHT THE BULLSHIT ...2010 WILL BE THE YEAR THE BULLSHIT HITS THE FAN...
I AM MORE PESSIMISTIC NOW THAN AT ANY OTHER TIME... CURIOUSLY...IN LATE 2008...THE BUBBLE ECONOMY WAS UNWINDING NICELY...THE PIPER WAS BEING PAID BY THE PEOPLE WHO WERE DANCING...
THEN THE BAILOUT BULLSHIT HIT...WINNERS AND LOSERS WERE PICKED...AND THE BUBBLE WAS "MIRACULOUSLY" REVIVED...AT GREAT EXPENSE TO THE FED...NAMELY GIVING GOLDMAN SACHS 12 TRILLION DOLLARS AND SAYING: "GO FORTH AND BUBBLE AGAIN..."
AND, THEY DID...!
THAT "PHASE" IS OVER...
NOW COMES THE SECOND PHASE OF THE DEPRESSION. THE ONE THAT BRINGS THE "WIEMAR EFFECT"...
WILL IT BE AS BAD AS WIEMAR? PERHAPS NOT. BUT IT WILL STILL BE BAD.
