Let’s have a look at the REAL situation in the financial system.
1) Greece is bankrupt. It has been for years. The market has finally stopped being moronic and figure out the obvious (so much for the “efficient” hypothesis).
2) Greece WILL default. This WILL crush German and French banks.
3) The EU in its current form (as well as the Euro) are DONE.
4) The US banking system is similarly fragile and on the verge of collapse.
5) The US economy is in a DE-pression and rolling over in a big way AGAIN. All the economic data is being massaged to look better than it is. Look around you, does the economy look OK to you?
6) The US Government is broke. Obama’s jobs plans is absurd. Where’s the money going to come from?
7) Bank of America (as well as the other TBTFs) is insolvent. The only reason they’re still in business is rampant fraud, lies, and theft. What’s happening in Greece is coming to them soon.
8) The Federal Reserve has lost control of the markets. QE 3, IF it comes, will accomplish nothing. Bernanke will be stepping down within 18 months and possibly facing legal battles.
Those are ALL FACTS. That’s the deal. The claims that all is well and that the market will hold up are lies. The Fed gave TRILLIONS of Dollars from the public to those who perpetuated the biggest theft and fraud in history. And they FIXED NOTHING in the process.
So here we are, the Fed is out of bullets entirely (Operation Twist 2 won’t do anything, low rates haven’t helping the economy OR the mortgage markets… and QE 3 is not going to happen without systemic collapse) and losing control of the markets by the day.
Look at Bernanke’s track record. He’s been wrong about EVERYTHING for years. Do you think he has ANY ideas or solutions to what’s happening NOW? The guy doesn’t even believe inflation is an issue. He’s either stupid or a liar. Neither of those are indicative of someone who can fix things.
In plain terms, we’re heading into the END GAME for the markets. What’s coming will see debt defaults in Europe and the US, a stock market Crash that makes 2008 look like a picnic, civil unrest and more.
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