Monday, November 24, 2008
Resident alarmist Angry Sam sez: FINANCIAL ARMAGEDDON IS UPON US!!!
If you bought the S&P 500 11 years ago you broke even on Friday, unless you take inflation into account, in which case YOU LOST YOUR ASS! Friday also added three more failed US banks to the growing list of losers. GMAC applied for bank status to try and secure a tasty chunk o'gummint loot. You can apply here for your own piece of Uncle Scam's pie. By law GMAC becoming a bank would mean they'd have to stop makin' cars. Who are these guys kiddin?
On a happy note:
Phony Mae and Fraudie Mac announced that they will postpone foreclosures during the holiday season. Merry-fuckin-krissmass. See ya on January 2nd.
- Angry Sam
Sam in happier times.