Jim Grant: “From Bear to Bull” – WSJ 9/19/09

[Arraya]

The Ponzi-style “debt accumulation” game has hit its natural limit and yet The Fed refuses to admit to the facts and allow outstanding debt to default, instead conspiring with Treasury to transfer as much of the default risk as possible to The Federal Government itself! By purchasing nearly a trillion dollars of “agency” paper The Fed is essentially attempting to force Treasury to issue a full-faith-and-credit guarantee against securities where such a guarantee is explicitly disavowed.

I fully expect in the not-distant future an explicit threat that should The Fed be audited or worse, should that demanded guarantee be refused “The End Of The World” will ensue – yet another threat of martial law and similar “end times” prophecy, coming directly as a consequence of the intentional actions of The Federal Reserve and Treasury themselves.
There is no avoiding the math folks.

http://market-ticker.org/

Good ol’ Karl….

[4plexowner]

Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?

[4plexowner]

Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?

[4plexowner]

Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?

[4plexowner]

Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?

[4plexowner]

Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?

[Arraya]

[quote=4plexowner]Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?[/quote]

Hahaha… They have so many plates spinning I can’t keep up.

We see all the plates and when one slows down and looks like its about to fall … we scream out and the juggler rushes out and re-spins the plate.

We know, that there are too many plates spinning and that eventually they could all come crashing down one after the other…

[Arraya]

[quote=4plexowner]Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?[/quote]

Hahaha… They have so many plates spinning I can’t keep up.

We see all the plates and when one slows down and looks like its about to fall … we scream out and the juggler rushes out and re-spins the plate.

We know, that there are too many plates spinning and that eventually they could all come crashing down one after the other…

[Arraya]

[quote=4plexowner]Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?[/quote]

Hahaha… They have so many plates spinning I can’t keep up.

We see all the plates and when one slows down and looks like its about to fall … we scream out and the juggler rushes out and re-spins the plate.

We know, that there are too many plates spinning and that eventually they could all come crashing down one after the other…

[Arraya]

[quote=4plexowner]Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?[/quote]

Hahaha… They have so many plates spinning I can’t keep up.

We see all the plates and when one slows down and looks like its about to fall … we scream out and the juggler rushes out and re-spins the plate.

We know, that there are too many plates spinning and that eventually they could all come crashing down one after the other…

[Arraya]

[quote=4plexowner]Broke FDIC May Borrow Money From BANKS
http://www.businessinsider.com/henry-blodget-broke-fdic-may-borrow-money-from-banks-2009-9

“Instead of hitting the industry with a huge one-time fee, which would hurt profits and stock prices, and instead of running hat in hand to the Treasury for a direct bailout, which would force Sheila Bair to genuflect before Tim Geithner, the FDIC will borrow tens of billions of dollars from banks.”

is this surreal or what?

this is like me loaning State Farm or Geico money so they can insure me against loss

am I missing something here?[/quote]

Hahaha… They have so many plates spinning I can’t keep up.

We see all the plates and when one slows down and looks like its about to fall … we scream out and the juggler rushes out and re-spins the plate.

We know, that there are too many plates spinning and that eventually they could all come crashing down one after the other…

[Arraya]

Heck, AIG says it needs another bailout so it can pay back the old bailout..

http://www.msnbc.msn.com/id/32957299/ns/business-economy_in_turmoil/

[Arraya]

Heck, AIG says it needs another bailout so it can pay back the old bailout..

http://www.msnbc.msn.com/id/32957299/ns/business-economy_in_turmoil/

[Arraya]

Heck, AIG says it needs another bailout so it can pay back the old bailout..

http://www.msnbc.msn.com/id/32957299/ns/business-economy_in_turmoil/

[Arraya]

Heck, AIG says it needs another bailout so it can pay back the old bailout..

http://www.msnbc.msn.com/id/32957299/ns/business-economy_in_turmoil/

[Author]

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