D. Stewart Armstrong
I have been watching from the sidelines for several weeks now and I’ve been as much agahast as the rest of you regarding what is happening to our country. I left the Jim Willie Piece up in the “news to use” spot for quite a while because he hit the nail on the head. It is worth reading again and again.
The volatility of the financial markets is both frightening and amazing. It is quite obvious that we are witnessing a history that we would prefer not to see. Many of the middle class are stuck and I can only say how truly sorry I am that we’ve found ourselves in this predicament. This is from Enrico Orlandini: DTC Analysis SAC; www.dowtheoryanalysis.com or email EBO@dowtheoryanalysis.com/
This writer is on the same level as Roger Weigand in his commentary. He will tell you the truth! Subscribe to his letter along with Roger Wiegand at www.webeatthestreet.com He too will tell you the truth. Ladies and Gentlemen–what is the real truth worth to you these days?
DAILY REPORT (10/23/08) A Brain Dead Congress by Enrico Orlandini
This may come as a shock to some of you, but the United States is quite possibly the worst run entity in the world, with the possible exception of Zimbabwe. Worse than Argentina! If you want to assign blame for the mismanagement, you must look at two groups:
· Government and this includes all facets: Congress, the Senate, the White House, and the judicial system, and it is probably the most inferior group of politicians in the two hundred and forty year history of the US.
· The American people for always choosing the easy way out; for voting for anyone and everyone who told you that you could have something for nothing. Congratulations, you got what you deserved!
The fact that these morons could simply sign off on a US $700 billion dollar bailout, with no more than a couple hours of debate, leaves me speechless. Then to watch Congress sit idly by, while the Fed injects another US $1.5 trillion, without so much as batting an eyelash, makes me livid.
So, what do the financial news channels focus on? Today the idea was to shine the spotlight on Argentina and imply that the problems in the US are somehow related to problems traced back to emerging markets. This of course in nothing more than an effort to distract your attention from the real problem, i.e. the United States defrauded the rest of the world. It did so by selling worthless assets, disguised as “AAA” debt, to the rest of the world. People like Rubens, Paulson, and Greenspan were the chief architects, and clowns like Author Levitt (ex-SEC head) put their seals of approval right next to Standard & Poor’s. The average American slept through all of this, but I want to see how well he sleeps when he comes to the realization that his pension fund is full of similar crap. Plain folks at GM and Ford will learn the hard way what their pension funds are worth, when these companies close their doors, and that it could all have been avoided. Some years ago, the auto unions stopped channeling funds to the mafia and began to send money to funds as well as entities like Fannie Mae and Freddie Mac. In my opinion, they were better off with the mafia; the rules of the game were much clearer.” End
I am deeply troubled that our government deems it fit to bail out Wall Street and the banks without bailing out the Middle Class. They then have the unaldulerated audacity to tell the American people that this is all for our good! read more