eddie6442

The Bottom's Within Sight - Barron's

Wish this was one of the rare times Barrons was right. Unfortunately there is "no history" for what America is experiencing now! Wall Street has created 50-100 of TRILLIONS OF $$$$$$$$$$ of phoney trading instruments called Credit Default Swaps and Derivatives......... Stocks, Bonds, Options and Futures weren't enough for the GREEDY firms and exchanges needing "trading volumes" to satisfy their thirst for GROWTH! Creating these instruments was risky enough, but using 5% margins and/or 40-1 debt/capital ratios was insanity...........
Exploiting the Sub-Prime MORTGAGE ALBATROSS WITH GSE's and accommadative LEGISLATION, SEC "non-enforcement", Congressional "protection" was the perfect brew for these
ROBBER BARRONS!!!!!!!!!
Americans have lost ~$7 Trillion recently, yet nobody is questioning WHO GAINED THAT AMOUNT"????????
America is "bankrupt" and the taxpayers [we who lost] are on-the-hook for another $$$$$TRILLION or so......... Interestingly, those who got the TRILLIONS were seemingly protected from the funding of the BAILOUT.......... HMMMMMM!!!!!!!!
America is no longer credit worthy, as France and Germany and China are telling us. So who will buy our debt????????
America is now hostage to oil producing "not-so-friendly" countries who can drive a massive nail in our coffin by simply reducing oil production by 20%.......... See, we can't drill here!!!!!!!!!!!!
America's political system is "corrupt" at best and looking like the tsunami is dead ahead!!!!!!!!!!!!
So Barrons, these circumstances never existed in our "history" and we are in totally uncharted waters, alone with our mess, with no ports in reach or large enough to dock our MASSIVE DEBT LADEN SHIP!!!!!!
IMHO