My predication: Monday is gonna be a rough one on the markets. The WaPo’s Ezra Klein Blog has some basic analysis but for bondholders when rates rise, bond pricing drops. Monday morning all eyes need to be on bonds, not the initial reaction of the equity markets. We all are likely pay higher rates on home mortgages go forward and those in variable rate mortgages may see their rates rise sooner than later. From a broad view, the excesses in the economy that manifested themselves in the year 2000 stock market bubble with the 2007 real estate crash on its heels remain in the economy that must be worked out. The end result of this is that the standard of living of all but the obscenely wealthy will take a hit and more Americans living on the financial razors edge will be thrown into poverty.
But there is also another story here IMHO folks. I’ll begin it with this simple fact: One of those obscenely wealthy folks I mentioned above, namely one Edward B Rust Jr of State Farm infamy, is on the board of directors of Mcgraw Hill, the owner of Standard and Poors. Affectionately known as Snake Farm to those that have been bafukkied on the Farm, I think a very strong case can be made to throw several members of this robber baron’s family in the pokey for what they have done.
Folks back in the day it was called organized crime but since they bought most of the politicians beginning in the 1980s such corporate predators are actually respectable in official circles these days. I bet ol’ Ed loved it when Barack Obama genuflected before him and opened up wide when he ran for the Illinois Senate and later President. About 90% of the GOP is no better by my reckoning.
sop
Am I being too paranoid or as the sell off over the past few days in anticipation of this downgrade. I.e. Did some of the people selling know about this sooner than everyone else?
Having read Sop’s posts as it relates to our impending economic doom, I have a hard time reconciling those sentiments with the Lakeside parking lot in Metairie, La today…in fact, it took me some time to find a parking place in the most outer perimeter at 6:15 pm in the rain…
The truth is that I know very little about the machinations of the manipulated legal gambling called the stock market…
But what my gut, ears and eyes tell me is this:
1) The vast majority of United States citizens have no comprehension of the forces of a market economy, other than to wonder why it cost so much to go to a football game…however they are not so dumb as not to realize that there is more to our economy than the pigeon hole of Wall Street con-men and speculators, whose bailouts and obscene bonuses seem to be the answer for insiders who literally light cigars with $100 dollar bills !!!
2) That the vast majority of United States citizens really don’t care about what our branded politicians of either party think about what should be done to correct some imagined deficit…what they know is, that an agreement will be made so that every government employee continues to be paid, including themselves, their family and cronies…why?…because those are the voters that turn out to vote for their best interests and re-elect the very same people who colluded with their campaign contributors in the business sector to cause the problem in the first place !!!
3) That the vast majority of United States citizens have no idea that doomsday is around the corner, and it has very little relationship to our fictitious debt…the collateral has always been an ideal that people, and yes, nations conduct themselves in a positive manner that BENEFITS the whole and themselves individually…a hard day’s work, earning a new produced dollar … economic reward for those who have taken the initiative to invent, to risk, to persevere against all odds… and against governmental bureaucratic chaos too… no faith, no fortune…moral bankruptcy !!!
I could go on about what I think…but this is what I know…in Jefferson Parish, and for that matter in the whole of the metropolitan area …and not only here, but throughout the United States… economies thrive that are based on GOVERNMENT JOBS…jobs in all levels of Political and quasi- Public INSTITUTIONS, like Tulane University (or any University for that matter) and HOSPITALS for example…they are in fact subsidized by the Government…these employees pay individual taxes on tax dollars collected to create their jobs…BUT WHAT THEY DO NOT DO, IS CREATE AND/OR GENERATE NEW TAX DOLLARS…
What a malaise … to paraphrase Walker Percy, ‘…people today are not only sheep, they’re sheared sheep…’
There is no Government but that elected by the populace…either by way of voting and/or not voting !!!
'Gate once I exchanged blind emails with someone from the world of high finance and the remark this person made to me has stuck with me for years.
"Most people sleepwalk through life" or put another way they construct their daily existence around a fantasy that doubled as their world view. I have yet to adequeately explain why I'm so fired up on immigration. Scapegoat ditch diggers and concrete masons is beyond silly to the point of outright willful ignorance, especially when one stops and considers the real problems in this world which include the very politicians that offer that shameful distraction.
Every ditch mexican digger, waiter, brick layer, concrete mason, yard guy, agricultural worker combined could not do the damage to this once great land that a handful of greedy pigs in stuffed suits on Wall Street have done to our economy. If I could exist in a vaccum and not be impacted by the idiocy of those that scapegoat mexicans while their own kind robs them blind, I'd gladly sit back and watch these folks wallow in a pig pen of their own making. Unfortunately none of us exist in a vaccum except the super wealthy and believe me that do enjoy looking down their noses at the useful idiots that helped make them so obscenely wealthy.
Matzerath the smart money was dumping out all summer. Insider trading is rampant but does not explain recent trading IMHO.
http://www.investopedia.com/terms/d/distribution….
I'll add that when the S&P recently passed under its 200DMA was the final clue for me which lead to this recent spate of finance posts.
sop
Anyone else rethinking the 2012 doomsday predictions? Things are looking a little , uh, bleak?! The bubble has burst on so many fronts yet the Sheeple continue to sleepwalk through the mine fields. Is it just me or does it feel like things are spinning out of control a whole lot faster?
The "ROCK STAR" perception of politicians is as deplorable as their false proclamations of public service.
The title of "Honorable" is disgustingly donned by political piggies who pervert the legislative process to legalize their ill-gotten gains.
US Government & corporations comprise the collective "anti-christ"!
They are public enemy #1.
The simple-minded football mentality of the masses feel a contemptable sort of power in the persecution of their own brothers & sisters. (WORLDWIDE)
RISE UP & REALIZE! That's NOT a Mexican, a Muslim, a welfare recipient, or a drug addict threatening your quality of life. It is YOUR OWN GOVERNMENT!
They CREATE & PERPETUATE that which they PROFESS to DETEST!