The movie is called Rollover.
Fiction? Not so much.
UK officials recently admitted that UK Banks Were Just Three Hours From Collapse.
Rules of the Game:
1) Don't PANIC.
2) If PANIC starts, then PANIC before everybody else does.
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Friday: No Major Economic Releases
4 hours ago
6 comments:
Don 't hold back Ben...tell us what you REALLY think!
I don't know about others but that little piece sent shivers down my spine because I honestly do not believe our US leadership gets it. Witness the blatant pork and payoffs they are stuffing into the "stimulus" plan. These bozos couldn't lead a group to the toilet much less an entire nation in peril.
Unscripted Thoughts:
I think the leadership does get it.
When the Congressman in the clip (the real life one) says that they are fighting to prevent the total economic and political collapse of the system, they are doing exactly that, and willing to risk anything, including destroying the currency if they have any hope whatsoever that it might work.
I can't see how what they are doing will work, and when the Congressman says at the end he doesn't know if we'll able to swim to shore, he's admitting that they don't know either. But from their line of thinking, it's worth the risk, since the political system is sure to be replaced in a severe depression.
But the political system is also sure to be replaced in a total currency collapse, and that will be much more painful for the entire population.
I agree with UT.
But it is a glimmer of hope that Rep. Paul Kanjorski at least states he knows that he knows nothing. I recently had the feeling most congress and senate people were still believing they got everything under control.
Now I wonder if they realize they might need dynamite instead of water to stop the blaze, before the last house has burnt down.
Timing is everything. The bulls have to reach euphoria, and the bears despondency and depression. Then the market will be ripe for the next move down. We are not there yet ! In the meantime I am on the side line.
Josh
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We will live thru either the 1970's or the 1930's. Others seem to prefer the 1930's. I think more people suffer less in the 1970's.
I actually think this will be worse than the 1970's. But, I still prefer destroying the currency over watching the currency destroy us.
Lastly, remember that tens of trillions of malinvestment has ALREADY TAKEN PLACE. So, when you talk about STUPID VOTERS showing up after the election, think back 30 years ago to "Morning in America", the record deficits that ensued in public and in private, and to what electing the foxes to the henhouse got you. I know you mean well. There's (almost) no point bitching about the Titanic's new captains.
If we can no longer undo the guarantee of Fannie/Freddie, then we are headed to default, either under the weight of appreciating currency or else thru depreciated currency. Our creditors are screwed either way. But, depreciating our currency does a better job of maintaining business activity and employment.
But, let's not shovel money to banks. They're the ones who screwed us. We should just give it to every taxpayer in equal amounts every month until we're thru this.
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