Asia is concerned (they should be)

Read this very interesting article [Bloomberg].

The writer mentions the “Enronization” of the US banking system matter-of-factly, when only months ago it was being discussed in less mundane terms. Alarming, disgusting, surprising, were the words most often used- moral outrage was the predominant emotion, followed by the realization of just who is the “elected” leader and who is best buddies are/were

It’s clearer to people living in Asia than it is to people living stateside of course, what with the kabosh put on free speech by mainstream broadcasters.

I was just thinking about this last night: when was the last time you heard anyone daring to broach the subject of possible insolvency in the US banking system without being hammered (yelled down) by a a so-called pundit? Never, that’s when.

It’s just buy, buy, buy more stocks, so the fat cats have someone to sell to before the bottom drops. Pump and dump, I believe is the term. And in the background you can hear the crazed cries of Kramer the carnival barker.

It’s all going to go to shit, I tell ye.

“The one sure way to prolong a depression is to resist it…” -Walter Lippmann, Sept. 1931


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: