This one is for all you doubters of the powers of the BoomBust :-) Happy Thanksgiving, and hurry and use those Groupon coupons before its too late, if you know what I mean...
This will probably piss off everybody in big banking, mainstream media and inter-marital analyst relations. I still want to be invited to ALL of the Wall Street Christmas parties, though :-)
The Eurocalypse has unfolded EXACTLY as I foretold exactly 2 years ago, with nearly each and every quarterly update along the way coming to fruition within a year. With that much accuracy, preceded with the same from RRE, CRE and US banking crash, you'd think someone over in Europe would have called me over to sort things out???
When was the last time a politician prevented a crash by causing his/her car to instantly freeze in mid-collision? Exactly! Expect the same amount of success with these multiple, financially engineered schemes to get around recognizing the only true solution - DEBT DESTRUCTION - and by the boat loads!
This collapse will come in waves, and the CRE wave hasn't even started yet. When it does come, it will crash against the Sovereign defaults and rate storms to combine with a derivative malaise that will collapse much of the banking system. Ok, now for the bad news...
Like two children bickering over spilled ink... Listen fellas, there's only one way out of this, and that way is not through the ACME Print-O-Matic 2000 (Euro edition). It didn't work for Japan, it didn't work for the US, and it ain't gonna work for the EU!
I add some real BoomBustBlog style meat to an already interesting Bloomberg piece that poses the question, "Can Goldman or JPM start a worldwide bank run?" Well, I think you all know my stance on this.
Now that my Apple premonitions are coming to pass, I fail to hear the cacophony of zealous punditry rushing to admit that maybe, just maybe, Apple is really a C corporation - just like many others and is vulnerable to competition and business cycles - unlike mythical/marketing product creation gods of lore.
I probably won't even have time for an "I told you so" as the business sectors and "to be funded entities" that have been floating on hopium catch a hard dose of reality and start collapsing.
