Dow 8500? Check. 40% stock market decline from peak only one year ago? Check. Whole nations going bankrupt (word up, Iceland)? Check. G7 convening emergency banking summit? Check. US banks on verge of nationalization? Check.
I dedicate this song to realtors, flippers, appraisers, mortgage brokers, bankers, bond traders, rating agencies, government regulators and, of course, the American “move-up” buyer.
Nope, John, you didn’t close the deal at all. In fact, the rank and file House Republicans actually led a revolt against the Plutocracy of Bush Paulsen, Pelosi, Schumer, Frank and Dodd and their incessant bleeding of the middle class. The House representatives did their job in “representing” the interests and wishes of their constituents by refusing to pour $700 billion down the bottomless pit of Goldman- and Morgan-led crony capitalism.
Now, the Plutocracy will put the screws to regional banks and the “little people” by freezing credit, hoping to break the will of those living day-to-day, paycheck-to-paycheck. The Plutocracy will eventually force the American people to capitulate and the bailout will pass. But it won’t really matter. The Great Unwinding has arrived. And it will be long and painful whether we pay a blood tithe to Wall Street or we hold firm.
The entire world hangs in the balance between a socialist point-of-no-return government bailout and a free-market solution that seems so catastrophic that even the retarded market pumpers in the mainstream media are calling for intervention. Stand by…
The United States government, Wall Street banks and the Real Estate Industrial Complex are deeply saddened that they cannot assfuck you as much as the Defense Complex has.
