It's crunch time for NASA. Now that the hyperinflationary bailout font of last resort — IMF SDRs — is on tap to become the EMU's duct tape du jour, the need to find benevolent, extraterrestrial life willing to backstop the mountain of core debt securities upon which the trans-Atlantic banking system rests has never been more urgent. Either Martians really do exist, or this banking system collapses. Not even with the Pope's blessing do IMF SDRs have a prayer of sustaining what essentially amounts to the greatest mass of mis-priced risk the world has ever seen.Yet the real trouble in fact is not in the banking system. Rather it is on the streets.
Look at it this way. Hysteria at the start of the week over the threat of a Greek referendum putting before voters terms of that nation's bailout, albeit proven a head fake, evolved into this evening's nail biter over a "vote of confidence" taken among technocrats within the Greek parliament deciding whether to face their own Nuremberg sooner rather than later. Obviously, the drama proved not much threat, because we're dealing with cowards without a constituency. So, chaos conducive to implementation of a police state stands to be the predictable consequence.
That the G-20's fascist core, rather than lead, has chosen to stand by and fiddle while Athens burns only serves to demonstrate chaos in fact is the outcome most desired by those who sponsor these abominations otherwise called "leaders." Yet any likely increase in rioting resulting from this charade in all probability will prove but one step back to the oligarchical swine who back this crew of so-called "leaders." Two steps forward in all probability awaits brutal repression and a police state, this sold to a terrified people, that "order" be maintained.
Now, consider this prospect in the context of what over recent years is proving a 100% bonafide insolvent banking system. The game of "make believe" venturing to prop up assets whose odds of being made whole are far less than odds of NASA finding benevolent life on Mars really ought be understood as having but one objective: sowing seeds of chaos, deep and wide. Indeed, in the process of attempting to sustain financial "assets" that in truth are unsustainable the very conditions conducive to raising dissent to a fevered pitch are being laid. You think risk of sudden, irretrievable loss is on the rise? You think rising costs are becoming unbearable? The pain has only but begun.
Have no doubt, though, in the end the goal is a global police state that, today, is given the name governance.
Stateside, Team Fraud more subtly works its pawns stupid enough to provoke those forgotten. These apparently remain quite unaware that, 99% of their 1% are about to take to the roof tops with but two choices thereafter: join the 99% on the street, or jump...
You're a "bull" alright, Langone. Bull excrement. If nothing else, "babies in adult bodies" now better understand the tragedy of a nation that shut down its mental health institutions in the 1960s and 1970s.
Wax nostalgic all one might about days of yore when hard work was the norm, truth in today's dissent lies in profound absence of political leadership. Back in the days of the Great Depression there was a President deeply opposed to fascism. Today's, contrarily, is a fascist, and on a terror lately proving it — a fact for which he could be easily impeached were Congress not so stuffed with sophists possessing partners in media promoting the kind as something other than spineless jellyfish. Indeed, the truth about Congress is the brand of fascism expressed by a bi-partisan majority is just more overtly obvious than that put forward by Windmill Willie over at the White House.
This just in from Alexander Hamilton: the President should take his "Infrastructure Bank" and its "public-private partnerships" and shove it up Mussolini's black shirt. Thanks Al.
For those confused about Obama's "American Jobs Act" (wherein his "Infrastructure Bank" is established) mistakenly believing that, in store with the President's scheme is investment in physical economy sure to alleviate today's debt burden — both on a personal and social level — let me put truth of the matter this way: if you hate today's massive Team Fraud taxpayer subsidy, this to the tune of tens of trillions of dollars, you will absolutely loathe the President's "Infrastructure Bank." Or, if you prefer a rhetorical explanation, we should give so-called "captains of finance" more chance to prove utter incompetence in their ability to allocate capital? Thank you, Mr. President, but we have seen enough.
Right now, the scheme is but a foot in the door wrapped in more sugar sweetness than you can shake a stick at. Yet there can be no mistaking it is being sold by a dyed-in-the-fool fascist to a Congress dominated by the same. This must change, and it is for this cause I support "the 99%."
Technical circumstance conducive to an upcoming period in which losses suffered early this week are consolidated, such as was noted yesterday, appear to be setting up for several days more wherein the market's technical condition is slated to deteriorate and pave the way for the next round of selling whose consequence is likely to challenge lows established early-October, if not take these lows out.
One concern worth raising here following this week's MF Global fiasco whose risk to you, personally, is highlighted by a matter of fact not likely unique to this firm — commingling of company and customer assets — begs consideration of the need to diversify one's brokerage risk. Given likelihood that, over weeks straight ahead chaotic collapse of, say, a Goldman Sachs is squarely on the radar, there is no time like the present to brace yourself for the possibility that, what's yours becomes yours no more. So, better think about playing defense. Diversify your brokerage risk and strengthen prospect that, you will be among the living when today's hopelessly insolvent banking system finally hits rock bottom.
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