Dumb and Dumber, dumb dum de dum dum….what are you thinking…..
Oh you think we should just let things work themselves out REMEBER even at the end of 1929 (i.e. after the market crash) no one was predicting a great depression people thought that it was simply a sharp correction and soon the market would work through it and come back stronger doh!…..once you have the total destruction in confidence and the deflationary spiral starts it is really hard to stop it and every circle around the drain it makes, the more expensive, and less likely to work any solution is. IMO the deflation is already starting people’s money has been out of the market, now their starting to pull it out of the banks not just crazy cooc’s, but institutional money. The dollars has been on a tare the last two days and trust me it’s not based on the soundness of our economy or worldwide faith in our government…….If you don’t realize how serious this is please ->open ass -> remove head……
Excuse my language, but DON’T FUCKING TELL ME IT CAN’T HAPPEN in the last two weeks the BIGGEST INSURANCE COMPANY IN THE WORLD, the largest thrift and another one of the 5 largest banks in the US, and an investment bank that has been in business for 153 YEARs have all gone under…..and from the credit spreads and credit volatility measures (I can’t remember exactly what they are called) it seems that there is plenty more to come if there is not drastic action.
Holy eff’in crap I knew the politicians in Louisiana where bad but holy crap I did not realize it was this bad the only people in the Louisiana congressional delegation I will ever consider voting for again is Charlie Melancon and Jim McCrery. I mean Jesus h. Christ David Vitter are you kidding me can’t we just send the guy a few hookers and get him to shut up and act right. What it really is that with the poor poor state of education in this state that we have seeded the wind and we are now reaping the whirlwind…..
I can not believe only two of our representatives voted for the bill. I Mean David Vitter he is as blue blooded republican as it gets which to me is generally no good but the one redeeming feature those types have is at least in this type of situation you can at count on them to do the sensible thing and understand the enormity of the situation……..Christ all mighty I mean I love how these guys are all up George w. Bush’s ass to the point of latent homosexuality right up till the point where it was no longer to their benefit anymore then bamm their gone with the wind. No one has any principles any more I mean these parties not only are they like gangs running the country but hell they don’t even stand for anything anymore ‘populous republican’ voting against the ‘big government’ republican administration ( the democrats are just as bad if not worse but no illustration pops to mind right now) its eff’in crazy there is no substance to anything anymore.
Now some Q&A:
Random person: I don’t want to spend MY money to bail out Wall Street ‘fat cats’
Le Singe: You’re a MORON….sorry to have to be the one to break it to you but the sooner you accept it the better it will be for you…..now back on point lets look at this:
It’s like jerking off you’re only screwing yourself, short term credit is essentially the ‘gas’, if you will, that huge parts of the economy run on and if it ceases to exist or if the cost of using it triples many businesses will go under or downsize, these are businesses where YOU and YOUR family work. If the market craters it’s taking YOUR 401k or IRA or whatever with it. Even if you’re fortunate enough to have a pension if the people that are running it are not on the ball it could be sunk also. The Wall street ‘fat cats’ are multi millionaires and billionaires this maybe uncomfortable for them they may get down graded from insanely wealthy to ridiculously wealthy but it’s MORONS like you that are going to be in the soup line. Jesus Christ use your head, bye the bye this notion was popular in late 1929 early 1930 and see where it got them the afor mentioned soup line.
Louisiana Congress Person: We need a plan that doesn’t help the wall street bankers..
Le Singe: I know you don’t want to help out the Wall Street bankers but you can’t help out the Wall Street Bankers with out ….helping out the Wall Street BANKERS!!!!!!…….I know its very complicated…..for fucks sake ANYTHING we do short of nationalizing the banking system is going to have to help out the bankers on wall street. It’s over they won they got over on us (I don’t believe this but if you need to so you have some one to blame that’s fine), but as tricky nicky said: “IT’S TIME TO MOVE ON” what we need is to take this solution that might work (as opposed to the others I have heard about that have no chance of working) and aggressively pursue it to save our collective asses, that means everyone from the penthouse to the out house…..and about nationalizing the banking system which is a terrible idea (don’t tell me about Sweden If you can’t see the complete difference in the complexity and scale of the banking system in a country like Sweden and the US then you are too dumb to have an opinion.).
Random Blogger: We need to just keep plugging the damn piece meal and see how we do.
Le Singe: Have you been cryogenically frozen for the last 6 months…I mean really I’m not even going to waste my time ranting on this just get a gun and shot yourself in the head we will all be better for it….
Random Person: We are just throwing away 700 billion
Le Singe: no actually the government stands to make money off this deal or at the very least only be out a fraction of the 700 billion. What we have is a cashflow/liquidity crisis and what we need is someone who can hold these assets for 5 or so years with out facing cashflow margin call or capital requirements, if you can think of anyone that can do this other than the US government I’m all ears. People, Media especially, keep calling these worthless assets which is just flat out wrong, they are illiquid assets because no one is buying or selling them except in fire sales. This makes their current values due to mark to market accounting very low, but once the credit crisis is over and the real-estate market stabilizes they will have value again. It won’t be the value that the banks bought them at but it will most likely be not to much less (and maybe even more) than the book value they have right now (which is what they would be bought by the government for).
Please understand that this is not right now and economic problem yet and economic aid to ordinary Joe’s like you and I will not fix it, but this will turn into a huge economic problem very quickly and by that time it will be too late for a bail out or economic aid to do anything. The bailout is like Churchill said about democracy “it’s the worst system out their except for all the other ones”
You can stick your head in the sand all you want but just because you live on a farm, love Jesus the usa and momma, have a picket fence and 2.345 children, eat apple pie 5 times a week, and perceive yourself to have nothing to do with this problem it is not going to save you from the assplowing that’s coming if we don’t do something….it will make $700 billion seem like a pin prick.