Strike

Wall Street Breakfast: Must-Know News

Sorry, Seeking Alpha moderators, I hit the wrong button and reported yolosetodo for abuse instead of responding to his extremely logical and valuable recommendations.

Yolosetodo, the fundamental problem since time immemorial (or at least for the past century) has been the arrogance of the American capitalist elite in continually claiming that theirs is the most beneficial form of capitalism in existence. It is as if Europe, with its free education, universal health care, superior infrastructure and superior products (Germany sells exports more than America despite having only one-third of the U.S. work force) didn't exist. The same applies to the U.S. financial system which is a giant Ponzi-scheme that depends solely on selling the nation's mounting debt to other gullible nations. The U.S. manufacturing base has shrunk 60 % since the end of WWII, and GM/Ford are both bankrupt.

The problem is that Americans have gotten so used to flag-waving, anthem-singing and cheerleading that they actually believe their own B.S.. The sooner America learns from Europe the better.

The Hedge Fund of America, LP

As for the article above, it represents more of the same. If every irresponsible and technically bankrupt corporation were allowed to fail the pain would be so massive and long lasting that it would give rise to fundamental solutions that would change the way the U.S. Government and U.S. corporations are allowed to do business. How GM is allowed to continue operating with a $ 200 billion debt beats me ............

The Hedge Fund of America, LP

Farmer448, that was brilliant and I laughed my A$$ off. The problem is that Cheney's Blind Trust (mainly consisting of Halliburton) tripled in value after he fabricated reasons to invade Iraq, so rest assured his Blind Trust probably shorted financials a year ago to benefit from yet another mess created by his Administration (He is, after all, the de facto Prez.).

No, the Texas Mafia has no interest in reforming the system, whether economically or politically, because "The Lord helps him who helps himself". I wouldn't hold your breath aiting for anyone in this Administration to (Heaven forbid) actually do something POSITIVE....