Wednesday, December 03, 2008

The Wednesday Morning Financial Apocalypse Update! 

Here's Angry Sam Owen!

Recession. How "refression".
A nice time to chill and take it easy for a while. A couple consecutive quarters of contracting economic growth to stop and stretch your legs a bit. A little breather in an otherwise hectic time.
Yeah...anybody surprised by the (National Bureau of Economic Research) NBER's announcement? Anybody caught off guard by that one?

Bloomberg says this one started in 2007, we're pushin' 2009 and that would make this the longest recession in over 20 years. "The likely duration of the financial turmoil is difficult to judge," said Helicopter Ben.

Hmmm... well I think we had better just print up some cash so we can all perform our patriotic duty to borrow and spend. Buy some stuff, push that ol' economy right back up on it's feet. We just need to loosen up those sticky credit markets, right?


This isn't a "credit crisis", it's a fuckin' CURRENCY CRISIS. Our economy is turning to crap. Nobody wants to lend us any more. What are we gonna pay 'em back with?

Even Zimbabwe is exercising more fiscal responsibility than Hank and Ben. Thanks to wonderful folks down at FED and the campaign to sustain the unsustainable we are heading into the greatest inflationary period ever experienced on this continent.
"The economy must grow at any price!" Even at the price of the Dollar's legitimacy. How do you grow a consumer based economy when bellybutton lint is more valuable than your legal tender? ...Oh, no... you say, just look around. Gas is cheaper than ever, cars, houses, everything is going down.

Anyone who has ever witnessed a tsunami can tell you what happened just prior to the giant wave.
The tide went out.
Waaaaaay out.


Angry Sam in happier times.