The excerpt below is more apocalyptic than analytic, however, he is absolutely correct – I did ask for it. And to that end, I am posting those parts of his prophecy that are relevant to the challenge I put out. I thank the writer for his effort, and I commend him on his passionate expression. As well, I appreciate his time and, even though our future glimpses are diametrically opposite, I respect his point of view.
Well, you asked! {For it} I tried to keep it short, best I could do is below, sorry.
I feel that crime has taken us from “normal” business of Caveat Emptor [buyer beware] to survival of the fittest. If I were king, I would focus on political and corporate criminals, which are running amok. The few we catch make no dent or mar the surface of the storm below. The storm is not brewing, or “in the making,” it is a horrible churning cauldron of bad people who have learned how to work the system, and they play it like a fiddle. The world is not my responsibility beyond voting, and I cannot fix it. If I stop doing everything I am about, and then focus on politics in general, I would be shot by Thursday.
I believe that the banking crisis is a “you ain’t seen nuttin’ yet pilgrim” situation. Many investors who bought sub-prime packages have the legal position of a “victim” of crime. They have the lawyers on staff to back it up, and I can see the biggies that engendered these loans to people, who could not possibly pay them back, will be shown in court to be part of a conspiracy (that got way out of hand) and the greed could not be contained. These bad mortgages will come back to haunt our banking system, and the only way to fix it, is to “let ’em fail,” no matter how big. I am convinced that playing with [investing] money requires a tremendous effort on the original investor’s part, not his guru or pundit.
I am positive, that the e-zone is in tatters, and ONLY rhetoric, smoke, and mirrors are saving the euro from its inevitable place in the pit of losers soon to come. (I am short the euro with EUO’s FEB 25 Calls, if you wonder how soon I feel this will happen).
The criminals will know they have to stop stealing so much [eventually], and to bolster certain currencies and economies, and when that happens, things will slow down. But as long as our government funds its own spending by printing money, it will get worse …
Stay tuned … I will address the bolded sentence above next week, as I think the proclamation “let em fail,” as it relates to our big banks, is one that flies around quite freely these days. Regarding our investment and trading accounts, this truly might be the last thing any of us wants to happen, even if you believe, as the writer the does, that corruption and greed are the lifeblood of the industry. However, do read the sentence immediately following the bolded sentence. The writer is spot on and it is a point well worth considering …
Trade in the day; invest in your life
