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Mainstream Media Reports?: "Revolution coming with next meltdown"

Recs

14

August 22, 2009 – Comments (1) | RELATED TICKERS: C , GS , JPM

Paul Farrel of Market Watch, breaks ranks with the Legacy Media and puts out some real reporting.

New bull, new bubble, new meltdown by 2012
Commentary: Brutal 'collateral damage' will follow recovery

http://www.marketwatch.com/story/the-next-meltdown-will-come-in-2012-2009-08-11?pagenumber=1

Revolution coming with next meltdown

Americans are not going to put up with the "Wall Street Conspiracy" ripping off investors and taxpayers much longer. Wall Street got rich sticking us with mountains of debt for generations to come.

Expect a major house-cleaning, a second American Revolution. We predicted the "Great Depression 2" around 2012. Well, we doubt taxpayers will passively sit one more time, like in the 1930s, in 2000, and the past few years. Next time voters will take a page from the history books about past revolutions in the American Colonies, France and Russia. A perfect storm will erupt in a massive global credit meltdown, bringing down Wall Street and the clandestine $670 trillion shadow central banking system. And the collateral damage will be massive and widespread, in areas such as these:

Lobbyists' power is lethal to our values. Special interests are running and destroying American democracy, will self-destruct.

Derivatives: Cap 'n trade will crash worse than subprime. The Goldman Conspiracy's spending millions lobbying for trillion-dollar derivatives.

"Too-greedy-to-fail" big banks will trigger harsh backlash. Banks pay huge bonuses yet modify only 9% of 4 million stressed home loans.

America's wealth gap will trigger grass-roots rebellion. Wall Street's greed is so pervasive, gluttonous and obvious the rest will rebel.

The "Goldman Conspiracy" will be a target for retribution. Goldman's hubris is most egregious and flagrant. Their arrogance will backfire.

Wave of creative destruction will revive commercial banking. Investment bankers are killing commercial banking, Glass-Steagall will return.

Secrecy protecting Wall Street's unethical behavior to end. Wall Street's control over Washington's lawmaking will come to an end.

The Fed's shadow banking will collapse under excess debt. Central bank balance sheets overdrawn, feeding new bubble with cheap money.

A "Black Swan" of huge unintended consequences. Next bubble, highly unpredictable, huge collateral damage on Wall Street.

Make the most of this new bull. Then get out -- before you're the collateral damage

The rest is here:

http://www.marketwatch.com/story/the-next-meltdown-will-come-in-2012-2009-08-11?pagenumber=1

 

1 Comments – Post Your Own

#1) On August 22, 2009 at 3:05 PM, Starfirenv (< 20) wrote:

Real Reporting?
Opinion, conjecture, prophecy, sure, but Real Reporting? This is like calling a fortune teller a real reporter.

Not to discount the possibility that some or all of these 'predictions' may (or should) come to be, nor the value of these musings as food for thought (+1 rec for that), but certainly not Real Reporting.

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