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Just want to thank everyone for the new systems here. I stopped cartooning for a while because of so many malfunctions. It was very disturbing, trying to do things that jerked around or didn't even show up. Now, all is easy and smooth! If only our economy were that easy to repair! Everyone who has no idea what is going on, is aghast at the stock markets of the world all going down as the US Titanic sinks. The Bernanke rate cuts aren't cutting it anymore.
Prince Hal is being pulled out of Afghanistan. He loves it there because he can be 'normal'. HAHAHA. True to his royal roots. Iran and Russia grow closer and make more gas/oil deals. US talking heads worry about China muscling us out of the Middle East even as we send in yet more warships to patrol the seas there. Troops are going up, not down in Iraq except for Prince Hal who wasn't allowed to go there. And Turkey finishes killing Kurds and begins its exit while the Jews in Israel bomb little boys playing soccer. Sec. Gates warns Pakistan to not talk to Pakistanis who are revolting against our dictator there. HAHAHA.
Today is a very magical day: it is the missing day to make up for the light glitch in the solar calendar. A mysterious day which is turning into a fall through the floor day for investors. The dollar continues to fall, stock markets around the world are falling and leverage money making is falling and all is going down the Leap Year rabbit hole together. This reminds me that a year ago, when everyone was boasting about how strong the world's economies were, we had this sudden plunge right about now! And I said, this was a harbinger for things to come when it all would begin to unravel.
Mr. William Lewis, a fine film maker, contacted me recently to let me know that my news service appears in a movie he just made. He then sent me a copy. It is called 'WASHINGTON---YOU ARE FIRED!' So my husband and I got it today in the mail and sat down for over 2 hrs worth of very good, informative, fair, well-paced and well-directed movie about the Bill of Rights and how we have lost them to a bunch of liars, crooks, devious deal makers and our Congress critters in DC. This new movie is a definite must-watch. Left, right and center: we all have the same civil rights at stake!
Today is a harmonic number day and the music of the markets is distinctly more like a Schoenberg 12 tone tune. Chaos. We go around the world today to visit a number of markets trying to deal with inflation. We examine how this is impacting gold markets in Asia. And the price of oil and gold continues to climb while the dollar continues to drop against the euro and even the yen. China is continuing to slam the doors shut on everyone's fingers as I fully expected. While Gross of PIMCO thinks we are playing 'Old Maid', he is really playing 'Hot Potato' with fellow investment banks anxious to pass along trashy pieces of paper that are losing value. And Fannie Mae may be the Old Maid but these guys want her to also be the sucker here. To sop up all the stupid mortgages they made during the bubble.
I had to put diesel in my plow truck today after plowing out people from the latest of many ice storms. I nearly fainted when I saw the price: $4.15 a gallon. Just last week, it was $3.56 a gallon! WOW. Then I went grocery shopping. WOW. OK, fellow Americans: we will see serious trouble soon. Everywhere I went, I met very angry people and they should be angry. Time to wake up from the dream of world conquest! Our money is dying. The dollar fell hugely against the euro today, more than 10¢ this month alone! Insanity. And then Herr Greenspendthrift goes off to the Middle East to echo what Iran Kitty has been saying all this last three months: dump the dollar! Well, we shall have fun over here. Time to hitch Sparky, my horse, to the truck and use him to plow. Also, I figured out the need for Bernanke to drop rates to 2.5%: this is the 'teaser rate' all those billions in Sub-prime mortgages rake in! So there will be no 'reset'! Cheap mortgages will save us! After the dollar dies.
CLICK HERE FOR EZ LARGE PRINT EDITION
A very, very kind reader from the US West sent me a real $5 gold coin from the US mint as a gift. Aside from the wonderful generosity of this gift, it is a good springboard for talking about gold and money which are intertwined like the winged staff of Mercury. Understanding money and gold means understanding old religions and belief systems that come from the dawn of minting coins and even earlier when gold was used nearly only for religious purposes. This is a fascinating topic and one that goes deep into that dark, dank cave we call 'the Human Psyche'. Why have humans chosen gold as a mirror for wealth? Why does it retain this even today to some degree? Why does money hark back to its darker roots? Why can't the magicians control the paper representation for wealth? Dark, dark parts of the brain are at work here. We must always end up talking to the Gods, living and dead.
CLICK HERE FOR EZ LARGE PRINT EDITION
Time to attack the Queen of England again. I can't help it. The European news is filled with more stories about the royal tax havens. The Liechtenstein business is now pulling in banks in Switzerland. The gnomes are gmad. Heh. A think tank wants to see if the G7 can control the flow of money across borders. This would anger the gnomes gno end, eh? Even more amusing, a British writer calls for these gnome ghomes to be invaded! I am very happy to see someone else call these places pirate coves, etc. I have been suggesting naval attacks for some time already! But a curious thing here: the British writer, Mr. Butler, cannot attack the Mistress upstairs! He cannot say, 'These pirate coves swear fealty to the Queen of England who owns them.' This would get him arrested for sedition. But since my family voted to execute Kings of England or revolted against Kings of England, I say, 'Off with Her Majesty's head!' And She can't do a thing about this. Heh, again.
BY MIKE WHITNEY
The SEC probe of the securitization of subprime mortgages into collateralized debt obligations (CDOs), announced last summer, has yielded no official enforcement cases....SEC chief, Christopher Cox, along with other top-level administration officials, has cautioned against quick-fire regulatory or enforcement responses to the worsening credit crisis, noting that the market instead should be left to work it out. Nicholas Rummel, SEC Drift Said to Prevent Action on Credit Crunch, Financial Week
A big snow storm approaches yet again, just after the last one melted. The cycle of storms is like the cycle of bad news we have been through lately. The latest attempt at preventing the inevitable storms has boosted Wall Street: the monoline insurance characters were saved! Deus ex machine was cranked down onto the stage and from it issued an angel from Standard and Poor. 'Arise, Ambac, arise, MBIA! With a wave of my magic wand, you shall live again!' And everyone clapped. Next: the Dragon enters from stage left, spitting flames of rage due to inflation from the US and Japan. We look at two US Congress reports about all this trade deficit/global savings glut business.
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