On another note, I can’t help thinking that this whole market downturn has been engineered by someone looking to artificially drive the market down so that they can snap up bargains. When Jim Cramer goes on TV and tells everyone to dump their stocks like he did the other day, I get suspicious…[/quote]
The whole past 20 years has been power grab of one sort or another. All the mechanisms are not important to understand. Let’s just watch and see who owns everything in the end. It wont be coincidental.
So, in 1987, Alaln Greenspan was brought in, with the clear and defined task to liquidate and gut the American society and economy. See, that’s where people think I’ve lost it. And I understand. All I have to defend myself with is that, so far, I have been right about economic developments as long as I’ve written about them. All of them.
I am not an economics proffessor, like Roubini, but I have consistently said the same things he has. And so has Stoneleigh. Neither of us think it’s all that hard. If you throw a boulder down a mountain slope, you kind of know that it won’t end up where it started.
If you look at things from that point of view, everything falls into place. The low interest rates, the TV appearances by Greenspan and W. cheerleading subprime mortgage loans, and the encouragement of the $1 quadrillion derivatives market. Greenspan knew, and he knew all along.
At any point, any day, in the past 20 years, he could have intervened. Not only did he not do so, he kept on pushing for more of the same. This is the guy who had more access to more data than anyone else on the planet. Honest mistake? Give me a break. No, he saw it all develop as it did, and he made it unfold.
The US is a society that cannot but fail if external energy sources dwindle. And that is why we see financial markets fail today, with 100’s of millions of people left in their wake with “debts no honest man could pay”.
There are no unfortunate coincidences anywhere to be seen.
