capitulation day
+114...
...petethepainter is dead but still on the run...
...head shot with a sawn off, reactivated .45...
...he was under water at the end of 2008 by 7%...
...he has been tryin ta get to the bottom of the pension fund collapse...
...by swimming the pools of famous silent movie actresses in downtown palookaville...
...he hopes to find the...
...mother of all bottoms...
Indices tracking the value of the trillions of dollars of distressed assets that continue to blight bank balance sheets fell sharply this week as a negative spiral of financial distress and subsequent economic pain continued.
The declines – which signal further potential writedowns by banks – are fuelling fears that the first quarter of this year could herald further pain for the financial system, even as many banks reveal sharp losses for the fourth quarter of 2008.
Short for Shorts sake...
Money for Gods sake...
Gimme the readys...Gimme the cash...
Gimme a bullet...Gimme yo stash...
Gimme yo silver...Gimme yo gold...
Make it a million for when I get old..!
Short for Shorts sake...
Money for Gods sake!
SPECIAL LITERARY EDITION
Inquiring minds are reading Andrew Jeffery's column, Bank of America Huddling Under TARP.
To quote a recent op-ed in the Journal, which likened the government response to the current financial crisis to the circumstances described in Ayn Rand's Atlas Shrugged...Atlas Shrugged: Fiction To Fact
"Politicians invariably respond to crises -- that in most cases they themselves created -- by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism."
The similarities are so striking, it almost seems like regulators are using Atlas Shrugged as a playbook for their policy response to the crisis. They must not have waded through all 1,000 pages to see how the story ended.
The Wall Street Journal article that Jeffrey quoted is Atlas Shrugged': From Fiction to Fact in 52 Years. Here is another snip.
The current economic strategy is right out of "Atlas Shrugged": The more incompetent you are in business, the more handouts the politicians will bestow on you. That's the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies -- while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers....Mike "Mish" Shedlock...
With each successive bailout to "calm the markets," another trillion of national wealth is subsequently lost. Yet, as "Atlas" grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate "windfalls."
GROUCHO, HARPO, CHICO,
...KARL...
..."Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take on more and more expensive debt, until their debt becomes unbearable.
The unpaid debt will lead to the bankruptcy of all banks, which will have to be nationalised, and the State will have to take the road which will eventually lead to communism.”
...So says the Karl Marx quote that has been whizzing round Wall Street and the City...
times :
"We seemed a step closer to that prospect yesterday.
Bank shares plunged again on both sides of the Atlantic amid concern that more capital injections will be required. Bank of America shares fell 20 per cent on reports that it needed further government help to complete the acquisition of Merrill Lynch. Merrill has suffered higher than expected losses in the fourth quarter and BoA is in talks with the American authorities about an infusion of capital.
Citigroup shares tumbled further, ahead of today's results, which are expected to be horrible.
These falls took the combined value of Citigroup and BoA - so recently the two most valuable banks in the world - below that of Wells Fargo, the conservative West Coast lender.
Back in Britain, bank shares were also under the cosh again, as ministers scurried to finalise another package of measures designed to get credit flowing again.
Gordon Brown said that the toxic assets of banks had to be dealt with, which could require more capital, while Capital Economics forecasts British banks will lose £85billion over the next three years and lending will be slashed by £400billion unless they get more capital.
At this rate, RBS will be fully nationalised before Sir Philip Hampton takes over as chairman.
According to the Marx quote, this means communism will not be far behind.
Except, of course, Marx didn't say that.
The quote is a fake. You just can't trust those bankers. times
The Ministry of Truth...
wikipedia : ..."is where the main character of the book Nineteen Eighty-Four, Winston Smith, works.[1] It is an enormous pyramidal structure of glittering white concrete rising 300 meters into the air, containing over 3000 rooms above ground.
On the outside wall are the three slogans of the Party:
"War is Peace,"
"Freedom is Slavery,"
"Ignorance is Strength."
There is also a large part underground, probably containing huge incinerators where documents are destroyed after they are put down...
memory holes.
For his description Orwell was inspired by...
the Senate House at the University of London.[2]..."
ANYONE FOR KAFKA ?
| Adj. | 1. | Kafkaesque - relating to or in the manner of Franz Kafka or his writings |
| 2. | kafkaesque - characterized by surreal distortion and a sense of impending danger; "the kafkaesque terror of the endless interrogations" unrealistic - not realistic; "unrealistic expectations"; "prices at unrealistic high levels" |
THE PEN IS MIGHTIER THAN THE PENCIL
...so!...
...ayn rand, karl marx, george orwell, kafka...
...things are startin ta look serious...
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