Chaos in the Land of Oz, Part 2

ilene's picture

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Widowmaker's picture

Bailouts are financial abortions.

Yes it is a dilemma, but the answer is as clear as it ever was - quit fucking the taxpayers!!

Down with the fraud banks, if TBTF then TFB, too fucking bad.

jcaz's picture

Had me until he started babbling about the weather......

Element's picture

Occupation Wall Street? ... how's about Occupation GI Blues instead? ... and if I don't go state-side soon I'm gonna blow my fuse ... Bitchez ...

siriyerji's picture

The problem with wall street bankster- Fed Nexus is they inflate /deflate at will all commodoties consumed by the entire world and reference price fixed by US equity/commodity exchanges.

A middle class or common man/Daily labourer  living in Asia or Eastern Europe or South America (where only 5 to 10% middle class invest in stocks or dont care) still reeling under this criminal gang's onslaught on life style .

US hedge funds /TBTF like Morgan stanley /GS -with Fed printing press trillions-link up with local operators and start buying agricultural land,office building,agri commodities ,buy and store oil etc and generally inflate everything (as long they get 20%).

when I see a hoarding (collobration/funded  by Morgan stanley) for dream villas for $250,000 in the city outskirts,my blood boils ( I know they over paid for land and increased price for all land).Average annual income of highly educated middle class here not even $12000. Interest rate for 10 year home loans @ 11%!! general business  loan rate 18% .


monopoly's picture

We are all tired of the same crap over and over again. Many here thought it would have been over by now but it just goes on. May still be a while, must be patient and stay the true course. This will end. Someday.

Westcoastliberal's picture

I for one am damn sick & tired (yes I'm sick AND tired) of the U.S. Gov's total manipulation of the stock market and artifical support of the TPTF.  They're throwing a monkey wrench into the gears of capitalism.  Failure is the fruit of taking stupid, foolish bets with capital, pure & simple.  Let it happen, then maybe the players will change instead of the same fucking retreads we seem to be forced to endure (i.e. Fuld, Dimon, Geithner, Bernanke, etc.).

We've gotta change the players, folks.  Until we do it'll be the same ol' same ol'. And I don't doubt for a second they'll keep trying the same bailout crap until a gallon of gas is $10 and you're earning $1 a hour if you can even find a job.

PulauHantu29's picture

Oz is a Bigger Bubble perhaps then any other country. House prices there are a whopping $650,000 median price!...over ten times the median wage.

The Oz Boys hande dout $16,000 in tax credit to house buyers they were so scared. What they did was to reinforce the bubble and blow more hot air into it to hand bankers and realtors fatter profits...I mean, why end the party, right?

Defaults are lready rising as late mortgage payments are swelling.

As China corrects to a more stable (lower) growth rate Oz Land is in for a big hurt from what The Daily Reckoning (and others ) describe.

I hope ZH interviews Bill Bonner. Colorful and knowledgeable.

Good article Ilene!

earleflorida's picture

just want to add my two-bits ilene,... great interview and article 


ps. learned lots

PD Quig's picture

Just leaving a comment to see if it disappears like the last few have.

e2thex's picture

Smoke and mirrors are back-ordered.

East German glass.

Manthong's picture

"The U.S. doesn't have any bullets left for this kind of policy. Politicians are talking about cutting Medicare and Medicaid and safety nets, so that they can bail out the banksters."

"People will be taking their money out of savings to live because they're getting zero returns. That could happen rapidly and be a big drain on pension funds. That's all part of my picture."

Not much talk about those two litte issues right now.


lunaticfringe's picture

The bankers/politicians have done everything they can to ruin every asset class and funnel you into the stock market. There, with the assistance of  a Federal Gov. holding everyone's funds hostage to a 30% tax rate, 10% state rate, and a 10% penalty. Your money is theirs. They already have 1/2 of it. I moved my allocation to 50% precious metals and I am keeping my remaining powder dry for the next great collapse being engineered by these shitbag geniuses.

Maybe our fucking country can wake up before 2012. Or not.

radish juice's picture

My ode to policymakers:


Wages are Red

Mainstreet is blue

Ben is sleeping with the bankers

And congress is too

TruthHunter's picture

Wages are Red....



However, more proof that the  comments section

is the 21st century bathroom wall.

LawsofPhysics's picture

Just out of curiosity.  What about the retirement savings of many that are sitting in banks via fixed-interest retirement accounts?  Will these be "decapitalized" as well.  Seems to me that the banks have been doing everything that they can to insure total destruction and chaos.  Perhaps this is in order to serve as cover for the great escape.  Some insight here would be good as I know both my parents still have "fixed-rate" account through Valic and fidelity, but I guess these would be mutual funds.  Anyway, if they are going to get wiped out, I need to work on convincing them to move things around.  I still think silver is cheap, so they think I am crazy and I will need to start working on this in advance.