Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: teevee	2/24/2010 12:51:58 PM
	4 Recommendations of 116555

After Clinton deregulated the financial industry, many people from the brokerage side of the industry ended up running the banking side. In my opinion, this is like putting the fox's in charge of the chicken coop. It also may tell us the outcome of of the downturn. What do brokers do when there is demand for equities?-they sell more. What do brokers do when there is no demand or if a business model is broken? the equity is delisted or at best, rolled back, and refinanced. Now that ex stock brokers run the banks and operate Gov't Sachs in Washington, I believe they will ultimately treat the dollar like an equity, resulting in some "delistings" on state bonds ( defaults), and a "reverse stock split" on the greenback (devaluation of the dollar). Both these "solutions" wipe out "sunk funds", entitlements and public pensions, and allow for fresh capital to be invested without the burden of old obligations that can never be met. Such a solution wipes out the savings of the previous generation, allows an economy for a new generation to blossom, and the "banksters" to ride off into the sunset with their saddlebags full of money..

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