Thursday, June 28, 2012


Greetings good citizen,

Well, one thousand plus one and it’s still the same old, same old…although today’s ‘main distraction’ is ‘all of a sudden’ JP Morgan may have lost not 2 billion dollars but 9 billion!

Little ‘oopsie’ there with the decimal point apparently.

Sadly, push come to shove, it’s a ‘thousand trillion’ (a.k.a. a quadrillion) they’re trying to fill in with an eye-dropper, a few billion at a time.

Er, more pathetically, the fucktards were betting on the ‘soundness of the banking system’ (and they LOST, how fucking sad is THAT?)

Anyway, here is today’s first snippet:
Wall Street Stocks Drop
By REUTERS 26 minutes ago

Financial shares were in focus, with JPMorgan losing ground on a report that recent trading losses could reach $9 billion and with Barclays down after a probe into interbank lending rates.

So what are we looking at here? Are investors ‘suddenly’ worried about the ‘soundness’ of JP Morgan? Or is it those screwy ‘credit derivatives’ that nobody understands?
JPMorgan Trading Loss May Reach $9 Billion

As JPMorgan has moved rapidly to unwind the position in credit derivatives, internal models at the bank have recently projected losses of as much as $9 billion.

Jeez, I don’t recall the corporate owned media mentioning that Sir Jamie told Congress last week they might be ‘a few BILLION off’ in their original projections when he testified before them last week… Maybe I missed it…(I’m going to bet that Congress did too!)

Again we are faced with the question of ‘what did they know and when did they know it?’

If you subscribe to my theory (and too few do) then NONE OF THIS is an ‘accident’.

Switch mental gears with me here as I explain yet another fundamental fact, every time you find yourself in 'Bizarro world' there is absolutely no guarantee that you’re going to find your way back.

And guess where you’re ‘stranded’ right now?

Let’s have a look at what’s going on ‘across the pond’:
European Summit to Test New Alliances Among Leaders

As European Union leaders prepare for talks on Thursday, the traditional French-German power center is fraying, with the German chancellor, Angela Merkel, more isolated than ever.

Er, speaking strictly from the ‘rules of evidence’ point of view, the arrow of guilt tends to point to the party that ‘benefits’ from a catastrophe.

Um, Germany’s market niche is luxury goods and it should surprise no one that since the ‘beneficiaries’ of the global race to the bottom are rabid consumers of luxury goods that the German economy has emerged relatively unscathed, comparatively speaking.

Whether or not this is a massive coincidence or not is another issue entirely.

A German’s company’s attempt to buy the NYSE casts a suspicious shadow but thanks to near impenetrable secrecy statutes surrounding the banking, er, ‘community’ we have no concrete evidence.

Our last tidbit is either the economy’s greatest conundrum or the umpteenth bottom call for the housing market (this month…pick one.)
After Years of False Hopes, Signs of a Turn in Housing

Roughly six years after the housing market began its longest and deepest slide since the Great Depression, home sales and an increase in sales prices indicate that the market is recovering.

Left to our confused minds is the contradiction of falling salaries and rising prices…it is ‘counter-intuitive’ to say the least.

But, if we look to our example (the Banana Republic model) we would see that they indeed have a ‘robust’ housing market (albeit it a tiny one, indicative of the size of the pool of ‘qualified buyers’.)

So is the ‘bottom’ in for a much-diminished US housing market?

I think we’re still a long way away from any ‘concrete’ settlement of the housing issue.

It is my feeling that the currency markets will have to collapse first, perhaps several times before it is determined how many Yuan you can get for your stack of lumber.

For those of you who are a little slow on the uptake, the center of Western Civilization has been moved to Beijing (where capitalism at the point of a gun reigns supreme.)

Not that we aren’t inches away from the same thing over here.

It only stands to reason since the first buds of an ‘economic renaissance’ are starting to blossom on the borders of the economic desert, in US factories staffed (with some) US workers.

Whether or not this will be enough to stave off a revolt is totally academic at this point, It is my personal opinion that they have let the economic desert grow too large.

Could we ‘rebuild’ our lost manufacturing capacity?

Of course we could…standing athwart that goal is the intrepid capitalist who wouldn’t tolerate the ‘competition’. Companies like Wal-Mart can’t ‘compete’ with a direct manufacturer, they have to pay a middle man to obtain their imported bullshit.

And there is NOTHING cheaper than buying direct!

This is why the cheaper there doesn’t exist…and why all of these capitalist wankers are guilty of treason for throwing tens of millions of US workers out of their jobs (and stuffing their pockets with their pension funds!)

But that’s like closing the barn door after the horse has run off…not that these cretins shouldn’t be tracked down and punished to the full extent of the law!

But naturally, I digress.

Thanks for letting me inside your head,


No comments:

Post a Comment