I think it’s pretty evident what this administration is now trying to do…. Artificially prop up companies….
1) Relax accounting rules
2) Impose short sell restrictions (again), or any other restriction that goes against an appreciating stock price
2) Let companies inflate earnings
3) Stock market rallies
4) Workers of USSA’s 101k gradually becomes a 201k and eventually back to a 401k
5) Dollar gets trashed by inflation, but who will notice that. Besides, if you have a lot of debt, even better 🙂
6) Everyone is happy, “we’re rich, we’re rich” good times are here again. Spend spend spend spend spend spend. Debt debt debt debt debt. Minimum credit card payment, Minimum credit card payment, Minimum credit card payment.
7) Companies then start to air out the laundry by taking excessive “1 time charges”, but at that point who cares because we will be in another Bubble 3.0 by then.
At least that probably is the plan.
How many of these current events can you identify that fall in to 1-7 categories….hmmm.
The only thing that I thought was funny…Was the government should have just listened to me and rather than spending so much money to prop up banks, they should have bought all the credit rating agencies, and cheated on the credit worthiness of these companies a few months back.. It would have been a cheaper alternative. And if you’re going to be dishonest, might as well do the thing that is the quickest, dirtiest thing (I know, this is tongue and cheek).
Ok, I’ll get off the conspiracy theory thing…Disregard.
