If relevant authorities truly believed American financial markets were among the world's deepest and most liquid, then why would they be compelled to resort to fraud in order to mask some other reality? Were this oft repeated characterization of a day gone by in fact still true — were American markets, indeed, deep and liquid — would not substantiation of the market's continued viability in the face of widely acknowledged systemic stresses require utter transparency?
Of course it would!
Yet concealing revealing details about extraordinary threats to systemic solvency has become standard fare. Not only that, but because this now is occurring at the very top of our financial system's organization chart — the lender of last resort — suggests everything underpinning the financial system is vulnerable to but a child's exclaiming, "The Emperor has no clothes!" (metaphorically speaking, of course).
Indeed, this might have something to do with the likes of Senate Banking Committee Chairman Christopher Dodd suddenly announcing his retirement once his term concludes at the end of 2010. Apparently, Senator Dodd arrived at this decision...
"...early on a cold Christmas Eve, an hour after voting to overhaul the health care system, when he visited Senator Kennedy’s grave at Arlington National Cemetery."One can only imagine the pressure Team Fraud exerts on the man, on account Dodd is...
—"Citing Tough Race, Dodd Steps Aside" (NY Times, 1/6/2010)
"...one of the top recipients of millions of dollars in donations from commercial banks and the securities industry."Then, to be part in a scheme to send grandma to an early grave (IMAB = T-4; proof is in how a bursting bubble ever came to be), all to free up capital necessary to keep alive taxpayer subsidy facilitating an irreversibly reckless financial industry, well, this just might have been too much for the son of a renowned Nuremberg Tribunal prosecutor.
—"Will the Real Chris Dodd Stand Up?" (NY Times, 1/6/2010)
So is the genesis of my first prediction for the year 2010...
The Obama administration, and its toxic brew of Team Fraud Advocates will not be intact by year end. Political cover at the very top will be thrown to the wolves. The trip Senator Dodd made to Senator Ted Kennedy's grave site — the very fact this story was woven into Dodd's resignation announcement — was intended to send a message: Democrats in Congress better soon take an opportunity to mend fences with the other side and get in the spirit to hang this taller, tanner Herbert Hoover Jimmy Carter clone out to dry.
Remember: from here on out, until further notice, it is shark on shark.
No more a ridiculous prediction than the hundreds of others you probably have seen. Provocatively credible, though, for this is politics.
And this is a tulip bubble...
"Tulip mania reached its peak during the winter of 1636-37, when some bulbs were changing hands ten times in a day."What do you think all that volume is about?
—Review: When the Tulip Bubble Burst. TULIPOMANIA—The Story of the World's Most Coveted Flower (Business Week, 4/24/2000)
Such is how...
That which has been is what will be,
That which is done is what will be done,
And there is nothing new under the sun.
(By the way, technically speaking, it is a sideways trading NYSE accompanied by much elevated volume, together, supporting a "tulip bubble" thesis. So, yes, to the effect time in levitation has been extended suggests American capital markets have remained deep and liquid, enough at least for a real-life Wile E. Coyote routine — suspended in mid-air after having run over cliff's edge — or so it appears anyway.)
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