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Wednesday, August 26, 2009

House of cards bigger and better than ever

"The recovery's just around the corner." "More Bernanke ensures stability." "Housing prices are bottoming out." "Stock rally continues."

Uh huh.

Try "FDIC is running out of money."

Time to print up some more. It's gonna be $20 for a loaf of bread, people, I'm tellin' ya...

Comments (6)

I am not the only one who sees serious inflation as inevitable. Perhaps even "stagflation."

I really don't know how much Geitner or Obama is paying these "economists" but I can't see a recovery on the horizon until employment stabilizes, and by all accounts it is going to get worse.

Additionally - inflation is a huge problem, as is the potential drain on the equities markets to cash out prior to the capital gains tax increasing in 2010 with the expiration of the Bush tax cuts.

Here is a post with some pretty charts.

Check out some of the links at the bottom right of the page.

Stagflation is the most likely scenario, which sets the stage for another Volcker/Reagan like partnership down the road, and the ensuing curative recession that is as bad as the one we've just gone through (yes, it's over as a mathematical matter).

If there was ever any doubt it should now be clear why Sheila got out front and advocated for most every consumer bailout program. She is so good at finding intersections between populist positions and parochial interest, she ought to get out of the appointive mode and consider elective politics.

For those of you who want to build some protection for yourselves, think about adding some small bank stock (w/ low exposure to commercial real estate), some ultra-short treasury ETF's and some gold stock to your portfolio.


Up here in the 'Couve we've walked into our local Safeway a couple times in the last month to find absolutely no bread on the shelves. Seems people are stocking up.

The boiling bath of indexes, indicators, economic sectors, rates & returns, taxes and deficits, should all be thrown out the window and the free-trade 'capitalism, baby' with it.

What is necessary in our commerce sustaining livability is NOT an economic resolution; it IS a political resolution. Repeat: Economics is fail, (burn your MBA); politics is necessary, vital. (But that don't mean 'Poli-Sci.')

For instance, perhaps among the growing group of people unemployed, some of us might realize getting elected or appointed to public office is a job, with a paycheck. And go for it. Wipe out Wyden. Demolish Blumenauer.

Here's two headlines toward my point, saying forget 'economics' -- rework reform rebuild 'politics.'

This is No Recession: It’s a Planned Demolition, by Mike Whitney - 2009-08-12

The Secrets of China's Economy: The Government Owns the Banks rather than the Reverse, by Ellen Brown, August 18, 2009

Both of these articles are at http://www.GlobalResearch.CA and, while money talk and advice seems to be available everywhere someone has a dollar in their purse, I kind of like the collection of Mike Whitney articles at Global Research, since he and me agree that the most powerful and enriching money talk, these days, is for all of us to commerce in politics. Starting with voting to abolish the Fed.Reserve. Forget Bernancke, forget 'interest rates,' forget 'money supply' -- abolish the Fed. Reserve.

See how that politics business works?

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