The Irish Eyes of Senator Blutarsky ~ The Risk Averse Alert

Tuesday, November 16, 2010

The Irish Eyes of Senator Blutarsky

Goosestepping in unison with Benito at the Fed, Senator Bob Corker and Representative Mike Pence today began their drive to once and for all bury the Republican party, and do this even faster than Obama and Pelosi have disgraced the so-called "opposition." Their unified drive to make "price and dollar exchange rate stability" the Federal Reserve's mandate can be seen an effort to shackle a Congress lacking courage to deal with systemic bankruptcy — most emphatically that of the Federal Reserve System itself — deferring instead to continue the game of make believe characterizing present circumstance as being emblematic of a "liquidity crisis," rather than the solvency crisis it is.

With this subtle change in mandate, then, Benito is to be made free to collapse "excess supply" without needing to worry about how many unemployed, desperate souls will be transformed into virtual slaves scrambling for a shrinking pittance of crumbs made available in the fraudulent drive for "fiscal responsibility" presently being led by representatives of the soon-to-be-destroyed Republican wing of the American Fascist party in Congress, as well as our Fascist-in-Chief backed by his "Deficit Commission" — a bi-partisan collection of misfits whose most useful purpose so far has been to reveal at last the national tragedy of having shut down state-run, mental health institutions some decades ago.

How hard fantasy dies in this age of sophistry elevating debt above the human condition!

Too bad the Irish are opting out. Imagine, a nation with a long history of being pillaged by outside interests finding courage to stand up and say, it's not the sovereign that is insolvent, but rather it is the banks whose wildcat finance addiction blinded their employment of that crucial, operational aspect tending to assure their businesses remain going concerns, whose practice is commonly known by the term "due diligence." You know, the same thing Goldman Sachs says investors should have exercised when the firm sold them that "shitty deal."

Forgive this stereotype, but the Irish have inspired the following video advice directed to the U.S. Congress, that some among them might find like-courage as the Irish to stand up and assert sovereign control over a thoroughly bankrupt arrangement...

The future Senator Blutarsky has shared with his "Flounder" a bit of unusual advice that might well-serve a badly floundering Congress. Lord knows how the act he advises raises courage, and we are by no means suffering from an "excess supply" of that in Congress!

So, the accelerated drive to deny sovereign nation states the right of self-determination suddenly is hitting a brick wall on the Emerald Isle. Once again, then, breakup of the eurozone is back on the table...


Apparently, a market built atop an extraordinarily vulnerable, fraud-rife Ponzi scheme has no place for rebellious slaves.

Still, one good fraud deserves another, and word has it there are no shortage of suckers waiting on a piece of the GM IPO (as if the company has a prayer of levering up its balance sheet once again). So, it seems likely that, the market will not collapse tomorrow, as some momentary success Treasury might claim its TARP yet again delivered offers to mask that much larger failure made glaring today by the Irish government's resistance to further bankrupting their nation.

Yet the day after tomorrow now has considerable possibility of bringing collapse following today's unexpected breakdown. There's enough reason to suppose five waves up from late-August are completed, thus ending an a-b-c corrective wave up from late-June. So, a devastating "c" wave down — prospectively putting March '09 lows in the cross hairs — could be imminent. It is curious (to say the least) that, coincidentally, we are seeing yet another eruption of vulnerabilities exploding onto the scene.

Fast Money
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