Friday, December 12, 2008

Friday Financial Implosion Report - Enjoy The Weekend! 

Anti-plunder advocate Angry Sam Owen says: Congress is full o' crap!

Why such a big fuss over a piddly few billion dollars for a big retirement party for the auto execs. The FED has that kind of chump change between the cushions of their Italian leather sofas. The idiots in congress could'nt sign over $700 billion (11 zeros!) fast enough, especially once it was heaped high with hog, and now they are makin' these slobs from Motown dance like Sammy Davis Jr. on a Bennie binge.

What gives?

Yer ol' pal Angry Sam is gonna let you in on a little secret.
-People fear what they don't understand.

Congress got hit by a financial Freddie Krueger. Hank threw Keyser Soze meets the Boogeyman at 'em and the fools on the hill stampeded for the bailout door.

Cars, Sheeeit.

We all know about cars. Nothin' scary there. You get in turn the key, gas on the right, brake on the left, wheels, motors, that kind of thing, but derivitives? Credit default swaps? Mortgage backed securities? ARPS? Yield curves? Asset pricing models? Dividends? Earnings? LIBOR?...Whoa, Hey, hey , hey...
SUV's  - cool.


So now, that the burglar is gone and the coast is clear, congress is gonna strut around the house and talk tough; " That mofo is lucky I did'nt get my hands on him...I'd a whipped some ass if I'd a caught him...Man I wasn't even scared. " and then beat up on a few simpering whelps.

In a classic case of locking the barn after the horse has long since taken off down the road, here comes the "COP". No, don't start flushing your stash, it's the Congressional Oversight Panel.

These guys are gonna try and find out just where all that loot is going and scrutinize Secretary Paulson's handling of the $700 Billion.

In case you missed it on C-Span7, here's some of the transcript from the panel hearing:

Williard: Mr. Secretary, the taxpayers have a few questions they would like some answers to.
Paulson: What did they tell you?
Willard: They told me that you had gone totally insane and that your methods were unsound. (Paulson clenches his fist.)
Paulson: Are my methods unsound?
Willard: I don't see any method at all, sir.
Paulson: I expected someone like you. What did you expect? Are you an assassin?
Willard: I'm a panel chairman.
Paulson: (disdainfully, with his face in full view) You're neither. You're an errand boy, sent by grocery clerks to collect the bill.
Willard: Yes... well, sir... any way what are you doing with the money.
Paulson; Thats a state secret.
Willard: Sir, I believe that you are evading the question.
Paulson: I'm rubber and you're glue whatever you say bounces off me and sticks to you.
Williard: Now you are just being childish.
Paulson: I know you are but what am I?
Williard: Sir?
Paulson: Blah Blah blah......etc...

Demagogue:  one who preaches doctrines he knows to be untrue to men he knows to be idiots.

There's one for you literary types to chew on.
Throwing that definition out there. Do I mean me? Paulson? Congress? Religion? Society? Or is there a deeper meaning altogether?
Maybe I just thought it was funny?
Maybe its directed at Smith?
Maybe I'll have a ham sandwich?

Maybe I'll shut up and just give you the Investment tip o' the day:

Shoei Co., Ltd.
The Group's principal activities are the manufacture and sale of helmets. The helmets are made of FRP (Fiber Reinforced Plastic) which consist thermosetting resin and reinforcement materials such as special organic fiber and glass fiber.
Exchange: Nikkei
Currently trading at: $8.27

Tremendous upside potential for this helmet company as falling sky stimulates unprcedented demand for head protection.

 ...and buy MORE bullets!