Tuesday, August 14, 2007

Into the abyss...

This is really about greed and corruption controlling our society which inevitably leads to collapse.

$300 trillion in notational value of fake paper.

You've got banks that are most likely in default right now but pretending not to be. They have no protection against the losses that haven't even begun to hit them -- especially in subprime markets.

Leading to lower home prices...

leading to reduced consumer spending...

leading to lower profits...

leading to layoffs...

A world built on debt will crumble.

Why was this one of the longest bull market cycles ever? Because everyone knew when it stopped -- the game would be over for a very very long time. So they did their best to keep it going.

Down we go, kicking and screaming...

The Fed can't save us, they're the reason we're here in the first place.

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