re: ["Interesting observation about Wall St. insiders
snapping up farms in the heartland. I think I know what
this is about, and it's not about Armageddon rendering
the cities uninhabitable (although plenty of people will
tell you that, because it sounds cool)."]
I'm not trying to imply that there's a mass exodus, because
there's not. But, there is a substantial under-current of
Wall Street insiders getting not just their money out,
but their families as well.
Sure, some of it is just motivated by simple profits,
but there's more to the story than meets the eye.
You've got Nobel Prize winning economists appearing on
national television and making comparisons to the "Great
Depressiona"...the IMF warning that we're only 1/4th of the
way through the credit crisis, and the likes of Pimco's Mohammad
El-Arian warning that this crisis is far from being over...
it beckons back to how few saw, and made the move to the
exits, prior to the crash of 1929.
Society today is not what it was in the 1930's. New Orleans
gave us a glimpse during Katrina, of what a major urban city
will look like when infrastructure and government services
collapse, and chaos errupts.
If just Bear Stearns alone brought the global financial
stystem to the brink of meltdown... the question shouldn't
be about whether it's over, or not... it should be about
how many more Bear Stearns are still out there... and how
much ammo the Fed has left.
I'll have more on this later.
Bottomline: The problem dwarfs anything the Fed can do,
and Wall Street insiders know it. That's why this rally
is just another bear market blip, and one hell of a
shorting opportunity into any and all further strength.
And on the next leg down, here's the questions you should
be asking:
-- Another Bear Stearns?
-- How many more Bear Stearns?
And how is the Fed going to bail them out?
S.O.T.B. |
