The hits just keep coming, thanks to Mr. Bernie Madoff and his madcap financial company.
This fraud is simply a foreshadowing of what is to come on a massive scale. That is to say, the biggest perpetrator of a Ponzi scheme is….you guessed it,….our very own government. Don’t make things so complicated. Our survival depends upon investors buying T-Bills and T-Bonds. That’s how all the crap gets financed, in a nutshell. Confidence is numero uno in that game.
When confidence fails, the game is over. Our government can’t turn back the clock. It keeps on ticking. Decades and decades of overspending and overborrowing by both the government and consumers, has sealed the fate of the U.S. and the world. You reap what you sow. In this case, it’s irresponsibility and phony fiat money. Sorry about that, but things are falling apart, you know.
It may not happen this week, next month, next quarter, or even at the Obama presidential anniversary party, but it will happen eventually. We are due for an economic collapse that will rival the Great Depression. There, I said it. You have been warned.
We are deteriorating as a society. Everything is taking on new meaning. For instance,
CEO = Chief Embezzlement Officer
CFO = Chief Fraudulant Officer
Bull Market = A random movement in the market that causes an investor or trader to mistake himself for a financial genius.
Bear Market = An extended perior of time when the kids get no allowance, the wife gets no jewelry and the husband gets no sex.
Value investing = The art of buying low and selling lower.
P/E ratio = the percentage of investors pissing in their britches as the market continues to fall lower.
Profit = something fleeting and transitory; somewhat archaic in usage.
See what I mean? The times, they are a changing.
This is a new paradigm.
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