Oops. I was wrong. (First time since 1957, July 14th at 9:37 PM when I told someone, "Nobody's perfect." I was forgetting about myself.) I said that the recent market weakness or sell off that erased a trillion dollars from the world wide value of stocks (No worries because it is only about $10,000 per stock holder) .. was... just a market correction. I got to thinking about it and now it's obvious. It is a world wide financial meltdown that won't stop until the whole house of cards burns down and the market index hits zero. Or negative.
No worries. It's just money. It's all a house of cards. Value is illusory. Just like credit, it's a crony to crony rubber stamp based on serious misconceptions. If everyone decided to sell their stock, who would buy it? Ha! Gotcha! So it's all a crock. Dutch tulips. Worthless paper. A flawed concept. A mythology gone to bad ancient multi-god religion. What is happening now is a pain orgy. People holding stock are scared crapless and now want to beat themselves to death selling all their paper before their neighbour does. It is a lemming panic where everybody is rushing to cash salvation at the open door, and beyond the door is a cliff leading to the sea.
Now gold. That is something everybody wants. You take a dollar and hold onto it like it's something holy, but there should be a warning. "Don't try to redeem all of these at once or you will find out they ain't worth s*****d."
Gold is like ice cream. Everbody loves it. And it goes good with apple pie.
So now that we all have the scales burnt from our eyes, let's sit back and watch the movie while the financial world goes to heck in a No. 12 standard hand basket. So what's it gonna be? Inflation, or you can buy a house on Park Avenue for a dollar?
The trouble with debt is they never lend you the money to pay it back. (Interest in case you wondered) Since that money is never created, it seems logical that eventually the bank will own everything.
EC<:-} |
