Thursday, February 05, 2009
Financial Survival Mode is Hard to Find
The Stimulus Package is Irrelevant
My concern now is that the so-called “stimulus” package will not be nearly enough to right our financial ship just now, and downstream, we are facing an even far greater financial disaster as many international derivative and 100 to 1 leverage instruments tank, which has already begun, and is gathering momentum. July will not be a nice month. Several financial gurus predicted this leverage tsunami over five years ago, but they were drowned out by naysayers that hadn’t the right information to predict such a failure of the largest economy in the world.
All of the energy devoted to the stimulus package as it stands is a complete waste of time, and it’s benefits will be inundated real soon now by a host of bank and financial firms going belly-up despite any attempts to save them. There isn’t enough money to do it, by far.
So much for change and hope. It is absolutely correct that we need imaginative new solutions to our soon to be fully devastated financial community and much of our industry. The scope of this crying need is just beginning to emerge, yet the average citizen is probably unaware of just how bad it is going to be in the next six months or so.
It seems that neither is the President or Congress really aware, or else they are in fact aware, but resigned to being able to build only little five foot brick walls against the mile high financial tsunami that is coming at us at warp speed.
Who knew? Shoot the b*****ds for ruining our nation!