Monday, July 12, 2010

When The Non-believers Finally Convert

Yup, thee is still a group that is adamant that this is a V shaped recovery and that the worst is well behind us. Well, to those sheeple still smoking the green shoots I say 'good luck' cause I'm on the other side of that trade. Global financial default is coming if a massive war does not hit first. The world will not look the same after this debacle ends.

First let's simply address the potential possibility of virtual guarantee of global default. My readers know that I have been calling this as the only solution to this enormous fraud/ponzi credit bubble since the early days of this blog. Zero Hedge has EFSF: Germany's Plan Is Sovereign Default NOT Bailout where you get, "With that in mind German officials seem to have made their move and are pushing what amounts to a bank bailout/sovereign default plan on the lines of what we have seen in places like Argentina rather than a straight sovereign bailout." You see also in Berlin Pushing For European Bankruptcy Framework With Provision For State Sovereignty Give Up  the talk of default is REAL. The Germans have so far been the best a attempting to avoid the Weimar Republic moves that Fed Ben and Turbo Timmahhh  have been pushing so generously down our throats. Seems at least someone studied and learned from their great depression better than Ben did.

You see even our government is thinking Obama's debt commission warns of fiscal 'cancer'. That is pretty screwed up if you ask me, but the administration never seems to worry as they just have the Fed print more money and they continuously change the accounting rules so the corporations don;t have to pay any taxes and they put the burden solely on our backs. "Bowles said that unlike the current economic crisis, which was largely unforeseen before it hit in fall 2008, the coming fiscal calamity is staring the country in the face. "This one is as clear as a bell," he said. "This debt is like a cancer."

Maybe someone is reading Denninger (and all the others I frequently post here) and getting their facts straight (finally). I have posted Do the Math and other references to how none of this adds up. Well, thanks to Karl, we have a concise summary (with pictures) that explains how failure and default WILL eventually come our way - no way around it.In Krugman's Insanity, And The Hard Mathematical Truth Karl takes the gloves off and provides the indisputable truth mathematically of how we can not escape this horrible mess we're in.

And since we know none of these recession/depressions would be complete without a war to top the cake you get this - Fidel Castro to appear on Cuban television and radio where he discusses, "discuss his theory that the world is on the verge of nuclear war". Well, someone has to say it. Rich Cash provided this ominous link to me today that will make the hair on the back of your neck stand up If Israel Attacks Iran In July 2010... 

Race card? Michelle Obama Rouses NAACP Before Vote Condemning 'Racist' Elements of Tea Party - I will not comment on this story as I am sure my internet handler would not appreciate what I have to say. I will say that when you use the likes of ACORN and felons voting illegally to win elections (not to mention many other potential abuses) then the desperation of the power grab becomes obvious. So go rally the NAACP and it's hoards of Democrats willing to extend unemployment benefits to infinity and to allow everyone on food stamps and welfare to get their 50 inch plasmas. Nothing good will come from this. We must find a common ground or we will never solve this enormous mess we're in. The free ride/gravy train is over for everyone (yes, that means the tea party people as well). Get that thru your thick skulls. Not just you, the underprivileged, but for ALL of us. The economy is dead, and we're in debt above our heads. We ALL are going to have to make serious sacrifices. We ALL are going to have to contribute. We ALL are going to have to make sacrifices. The entitlement state is dead. Racism can not stand. there is no place for that. but don't frame the whole movement for the few that are rude. AND MOSTLY don't ban or control free speech cause we want to complain loudly (as long as appropriate language is used) about the crappy job Barry is doing. That is our right and not a racist act.

GL and thanks for the views.