There Will Be No "Recovery"
http://finance.yahoo.com/tech-ticker/article/176478/%22Worst-Is-Yet-to-Come%22-Americans'-Standard-of-Living-Permanently-Changed?tickers=WMT,WFMI,FDO,%5EGSPC,%5EDJI,RTH
Finally someone interviewed by the MSM who "gets it".
The FED has no more bullets (interest rates at zero)
Governments are broke
Banks are broke
Big Finance is broke
States are broke
Cities are broke
People are broke (your pink slip is in the mail)
The last few moments of the clip are the most telling when the government is called out for trying to keep the "junkie party" going when most of us realize that throwing money to stem the tide of the inevitable "collapse" is akin to throwing money into a black hole.
The oink-fest of the last few decades was the "last supper" for American "economic growth" and the distorted economic excesses of the last few years in particular were literally the run-up to the abyss with big "bubbles" in Tech, Housing, and Oil. CEOs (and many other up and down the economic food chain) literally stole to pad their bank accounts in an orgy of economic "corpse kicking".
On the way up it was every man for himself (oink). On the way down (start the violins) we are "all in this together". Capitalism's finest hour......
The game is over. The systems we have in place today don't work. The financial leaders and "captains of industry" are ineffective....or worse And the government is full of the same idiots who ignored all the warning signs until it was too late. In other words, NONE of our leaders have a clue what to do except throw money at the problem. Money supposedly garnered from taxpayers who increasingly....can't pay taxes due to being laid off.
The collapse will be unprecedented in history and anyone who thinks our standard of living is going to "recover" (i.e. return to anything resembling the last few decades "fake wealth" party) needs a reality check.
Finally someone interviewed by the MSM who "gets it".
The FED has no more bullets (interest rates at zero)
Governments are broke
Banks are broke
Big Finance is broke
States are broke
Cities are broke
People are broke (your pink slip is in the mail)
The last few moments of the clip are the most telling when the government is called out for trying to keep the "junkie party" going when most of us realize that throwing money to stem the tide of the inevitable "collapse" is akin to throwing money into a black hole.
The oink-fest of the last few decades was the "last supper" for American "economic growth" and the distorted economic excesses of the last few years in particular were literally the run-up to the abyss with big "bubbles" in Tech, Housing, and Oil. CEOs (and many other up and down the economic food chain) literally stole to pad their bank accounts in an orgy of economic "corpse kicking".
On the way up it was every man for himself (oink). On the way down (start the violins) we are "all in this together". Capitalism's finest hour......
The game is over. The systems we have in place today don't work. The financial leaders and "captains of industry" are ineffective....or worse And the government is full of the same idiots who ignored all the warning signs until it was too late. In other words, NONE of our leaders have a clue what to do except throw money at the problem. Money supposedly garnered from taxpayers who increasingly....can't pay taxes due to being laid off.
The collapse will be unprecedented in history and anyone who thinks our standard of living is going to "recover" (i.e. return to anything resembling the last few decades "fake wealth" party) needs a reality check.
Comments
That said, I think this crash has still got some legs to it. The numbers are just too bleak. The DOW is down another 140 pts this morning, and it's knocking again on 11 year lows. And rather than the previous panic selling, what we're seeing now appears to be a rather gradual sell off stretched over weeks. Start in early January, and the DOW was nearly 9000 pts. Since then, it's fallen more than 15%, with only 5 major upticks. The rest has been a gradual decline.
Perhaps more telling is this (starting Jan 6th) -
UP DAYS : 9
DOWN DAYS : 19
FLAT DAYS : 3
Also, during that time the longest bull run was 3 up days for +300 pts. The longest bear run was 6 days for -815 pts.