Use access key #2 to skip to page content.

Marc Faber "Bring Paul Volcker back", Peter Schiff "Americans are broke", Jim Kunstler's The Ponzi-Plus Plan, PALIN!

Recs

4

September 30, 2008 – Comments (0) | RELATED TICKERS: GLD , SKF

 Marc Faber: "Bring Paul Volcker back as temporary FED Chairman" (30 Sep 08) at 02:05

 
Peter Schiff on 29 SEP telling saying "Americans are broke" at (03:49)

 

The Ponzi-Plus Plan

Jim Kunstler 

     To paraphrase the late and great old war-horse of the senate, Everett Dirkson of Illinois (1896 - 1969), a trillion here, a trillion there, sooner or later you're talking about real money. Except in the case of the Great Bail-out of 2008, maybe it's more like... sooner or later your money is no longer real.
     What we're seeing in this fiasco, among other things, is a lesson in the diminishing returns of technology. This is a train wreck of investment vehicles so complex that they could only be created with the aid of computers. The result is that hardly anyone -- perhaps even nobody in or out of Wall Street -- really understands what they represent. In fact, this alphabet soup of engineered securities -- CDOs, CDSs, MBSs, SIVs, etc -- was cooked up from a recipe of Ponzi algorithms. They were designed to be mathematically indecipherable, except by computers, in an alternative universe of model-making that bore only a superficial relation to the real world. That was their dirty secret. And the dirty secret of the Great Bail-out is that, in the real world, we will never be able to discover the actual trading value of these things at any number above zero. This is why they are called "toxic."

The rest is here:

http://jameshowardkunstler.typepad.com/ 

TED Talks James Kunstler: The tragedy of suburbia

 

 Oh Dear God: Latest Palin/Couric interview clip released

These two appear far from presidential. They look like a nervous couple trying to get approved for a loan.

 
Sarah Palin: Jack Cafferty Outraged About Her As Pathetic Excuse...

 

NYC Wall St. Bailout Protest 25 September 2008

 

Economist: Why Bankruptcy is Better than Wall Street Bailout

cnn.com Congress has balked at the Bush administration's proposed $700 billion bailout of Wall Street. Under this plan, the Treasury would have bought the "troubled assets" of financial institutions in an attempt to avoid economic meltdown. This bailout was a terrible idea. Here's why.

 

 

0 Comments – Post Your Own

Featured Broker Partners


Advertisement