So the spin masters that artfully play extend and pretend and kick the can in order to save their ass for another year before the truth (that we all already know) comes out that the world is insolvent, come up with QE II. Ah, the Keynes spirit is alive and producing at it's finest hour, so have no fear of a Weimar repeat Apparently all the recent data from inventories to employment may just be real after all. Fed set to downgrade outlook for US from the FT appears to tee up the bad news we all know is coming. With San Francisco Fed: "A Recessionary Relapse Is A Significant Possibility Sometime In The Next Two Years" and Ben's statements about "Uncertainty" maybe we should take all this a bit more seriously.
Maybe the fact that GSEs Celebrate Geithner's Invitation To The "Recovery" With A Demand For $3.3 Billion In New Taxpayer Capital should be another clue. Maybe Rosenberg Slams "Doubly Pathetic" Non Farm Payroll Report might signal something is a muck. Maybe Here Come The Lies (Social Security) or Reality Beckons (Government Pensions) might clue someone to reality. Maybe the first lady's personal attempts to revive Spain's economy are supposed to inspire us to believe all is well and that she's just not abusing the few valuable taxpayer dollars left while she can (cause
If this is true Goldman Explains Why It Is "QE2 Or Bust" For Stocks Tomorrow then we're all screwed. I guess we have to face the facts that all $25 or so TRILLION we've pumped into save the
Mish rocks it in Fooled by Stimulus - Structural Problems Still Intact. "Even now, Bernanke displays little public awareness of what is going on. It would be interesting to hear what he says in private at the FOMC meetings in comparison to the soundbites the Fed delivers to the public. If FOMC soundbites represent what the man really thinks, Bernanke is nearly as clueless as ever, with little understanding of what went wrong or why, what the policy errors were, and what the Fed's role in this mess was." Move along, nothing to see here, pay no attention to the man behind the curtain. All is well and we'll just jeep trowing money at the problem cause the American Taxpayer is good for it.
Tomorrow's report is going to be another pack of half truths (I say that cause there will apparently be no speak of recoveries or V shaped recessions). Apparently the market is pricing in QE II and all the good stuff that comes with it. Deficits, schmeficits we're gonna spend toll we run out of ink or the presses go down for good. At the end, we'll all be broke, and thus my predictions of strategic global default will eventually come to pass. Some think that a Greece and Spain (despite all Michelle's efforts) default are inevitable.
Don't believe a friggin word they say folks. WE"RE GOING BROKE. Well, we're already broke, but in true American fashion, we won't admit it. So spike the markets and party like it's 2008! No worries mate, Fannie and Freddie are just fine and the Treasury should not need any more funds till at least the first quarter of next year. The clock is ticking. Of course the answer to the question is NOT TO QE II, but something tells me my voice and yours is as meaningless as ever in that argument.
My condolences to Matt Simmon's family. I hope no foul play was involved.Oil guru Matthew Simmons dies in Maine
And a personal moment for me to fucking bitch like hell about my power bill - fuck the utilities that have taken all our hard earned cash and gloriously pay out exorbitant dividends, mega salaries and bonuses all the while neglecting infrastructure so they can charge us ever increasing power bills. THIS SHIT IS GOING TO COME TO AN END AS WELL. You might as well prepare (eventually) for the utilities to become GSEs. Their piss poor management of the world's most lucrative cash flow (next to Goldman's prop desk) is just now starting to rear it's ugly head. The infrastructure is woefully inadequate for todays needs and those sumbitches are not doing a damn thing about it. Why? Cause they can't afford to and they don't want to. They can't afford to because they can't increase rates anymore and their bloated salary and dividend structures say all they can do is maintain what they have. They don't want to cause if they distributed electricity in an efficient manner, they would not be able to afford their exorbitant salaries and dividends. Get it? The catch 22? Fuck them. They are gonna pay for their greed and mismanagement sooner than later as they become one of the soon to be long line of GSE's that have proven to be "must save" corporations that the government "must have" to control the population. Better get off the grid while you can. Prices can't be raised any more. Sorry. They missed that boat, just like all the cities and municipalities borrowing to balance budgets, the endless game of ever increasing rate hikes is coming to an end cause we can't afford it any more. No rate hikes = less service and no money for structural improvements = busted system = government takeover. This was a good read - U.S. electricity blackouts skyrocketing. Be prepared America. They will be controlling your thermostats before to long. Oh, and Ge will get the infrastructure retro job, you can bet on that.