is this what you call one of them fartcalls?
Posted by howard in nyc
fractals, fartcalls; tomato, tomahto.
i am again shaken by the amount of wishing and hoping that intelligent people have substituted for critical thinking, analysis, and questioning of those in power, regarding our dismal economic present and immediate future.
like last september never happened. like facts of arithmetic and history don't matter. like "we had no other choice" is a rational explanation for government actions.
oh well. maybe they are right, and i am wrong. maybe those monkeys will fly out of my butt.
a year from now, the general economy will be so bad, no one will be able to deny reality any longer. much higher unemployment; many state governments unable to borrow a dime from the bond market, dozens of corporate bankruptcies among the fortune and the s+p 500s; residential and commercial real estate markets significantly down from today; and who knows what further details? these generalities i predict. more specifically, s+p 500 index in the 500s by 12/31/09.
the successful temporary propping of both the stock and bond markets by ben bernanke is about to end. best case, he will be able to save one of the two. hint--it will be the one where the chinese have all their us dollars. last i looked, pension funds don't have any nuclear submarines.
