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RUNNING with Scissors
Ok this may be of interest to you If so pass it along
Things seem to have settled down since last year's meltdown. Don't be lulled into thinking that the worst is over. It hasn't even started. TEOAAWKI (The end of America as we know it) will not be pretty or pleasant, and it's right around the bend. ***
From Mike Morgan - 2/10/2009:
I have a huge day ahead of me, but I need to write something for you.
As I have expected all along. And as my “Behind the Enemy Lines” sources have been telling me, Obama’s cabinet team is not playing well together . . . and they are running around with scissors. Here’s the proof. Captain Mike’s Rumblings . . . CONFIRMED.
The New York Times reported this morning that Tim the Tax Cheat prevailed in his plan for the bailout. Obama’s team wanted tougher conditions for the second half of TARP. As the Times reports . . . “In the end, Mr. Geithner largely prevailed in opposing tougher conditions on financial institutions that were sought by presidential aides . . . “
And if that was not enough, the Financial Times confirmed one of my greatest fears. I’ve been talking about Tim the Tax Cheats intention to give the $200B TALF money to hedge funds to buy up whatever they want . . . with really NO conditions. He doesn’t give it to them now, but it is a guarantee. So if they take huge gambles and win, they keep everything. If they lose, we pay up. That’s like sending me to Vegas and telling me you’ll cover whatever I Iose up to $200B. You can bet I’m going to gamble the entire $200B.
BUT . . . WAIT . . . I ADMIT I WAS WRONG!!!!
It’s not $200B. You see, he’s going to leverage up. This is a Federal Reserve deal with the Treasury putting up $20B to back $200B from the Fed. Now Tim the Tax Cheat is going to leverage up a five times more to expand this to a $1,000B (one trillion) package for his friends at Goldman Sachs and the rest of the thieving Economic Royalists.
And it doesn’t end there . . .
Senile or Stupid . . . I’m not sure which, or both, but Congressman Ackerman from New York, wants pension funds to shore up the banks. I swear on my favorite magic wand that’s what he is proposing. Honest. I couldn’t make that up. This mouthpiece of the Economic Royalists is going to push on a bill that would guarantee losses of pension funds that throw money at the Economic Royalists.
And I will close today with this . . .
Robert Barro, Harvard Economist . . . “ This is probably the worst bill that has been put forward since the 1930’s. I don’t know what to say. I mean it’s wasting a tremendous amount of money. It has some simplistic theory that I don’t think will work . . . it’s more along the lines of throwing money at people. On both sides I think it’s garbage.”
WOW, tell us what you really think . . . and he did when asked . . .
Question: Well, presumably Larry Summers is not an idiot.
Barro: [laughs] That is another conversation. I have known him for 25 years, and I have opinions about that.
Once again, I am not making that up. That appeared in the Atlantic and The Wall Street Journal ran it as Notable & Quotable.
It is time to start pushing more money into short positions and gold. When the weather breaks this summer, I believe we will see riots. I have said that before, and each day I see things like this, I grow more certain of what I see coming. Please brace yourselves, because it is just now beginning. Look around the world. More than 100 dead in economic riots in Madagascar. How about Latvia, Greece, Connecticut, France, Russia, Chicago, China, Spain protests. When it comes down to food for your children or killing someone that stole from you, so you can feed your children . . . what do you think is going to happen?
If anyone can tell me how giving the Economic Royalists another $2T will improve our lives, please speak up. I want to hear the other side.
I will not be writing anything else today. I will be watching the markets, but I must prepare a piece for one of the major print publications. Hopefully, they will run it without editing out the juicy stuff and before it goes stale.
--------------------------------------------------------------------------------------
Mike Morgan, J.D. – 772–260-5448
'Research, Consulting and Investment Services'
Registered Investment Advisor
Website - www.Morgan7.com
Blog - Mike Morgan Behind Enemy Lines
Things seem to have settled down since last year's meltdown. Don't be lulled into thinking that the worst is over. It hasn't even started. TEOAAWKI (The end of America as we know it) will not be pretty or pleasant, and it's right around the bend. ***
From Mike Morgan - 2/10/2009:
I have a huge day ahead of me, but I need to write something for you.
As I have expected all along. And as my “Behind the Enemy Lines” sources have been telling me, Obama’s cabinet team is not playing well together . . . and they are running around with scissors. Here’s the proof. Captain Mike’s Rumblings . . . CONFIRMED.
The New York Times reported this morning that Tim the Tax Cheat prevailed in his plan for the bailout. Obama’s team wanted tougher conditions for the second half of TARP. As the Times reports . . . “In the end, Mr. Geithner largely prevailed in opposing tougher conditions on financial institutions that were sought by presidential aides . . . “
And if that was not enough, the Financial Times confirmed one of my greatest fears. I’ve been talking about Tim the Tax Cheats intention to give the $200B TALF money to hedge funds to buy up whatever they want . . . with really NO conditions. He doesn’t give it to them now, but it is a guarantee. So if they take huge gambles and win, they keep everything. If they lose, we pay up. That’s like sending me to Vegas and telling me you’ll cover whatever I Iose up to $200B. You can bet I’m going to gamble the entire $200B.
BUT . . . WAIT . . . I ADMIT I WAS WRONG!!!!
It’s not $200B. You see, he’s going to leverage up. This is a Federal Reserve deal with the Treasury putting up $20B to back $200B from the Fed. Now Tim the Tax Cheat is going to leverage up a five times more to expand this to a $1,000B (one trillion) package for his friends at Goldman Sachs and the rest of the thieving Economic Royalists.
And it doesn’t end there . . .
Senile or Stupid . . . I’m not sure which, or both, but Congressman Ackerman from New York, wants pension funds to shore up the banks. I swear on my favorite magic wand that’s what he is proposing. Honest. I couldn’t make that up. This mouthpiece of the Economic Royalists is going to push on a bill that would guarantee losses of pension funds that throw money at the Economic Royalists.
And I will close today with this . . .
Robert Barro, Harvard Economist . . . “ This is probably the worst bill that has been put forward since the 1930’s. I don’t know what to say. I mean it’s wasting a tremendous amount of money. It has some simplistic theory that I don’t think will work . . . it’s more along the lines of throwing money at people. On both sides I think it’s garbage.”
WOW, tell us what you really think . . . and he did when asked . . .
Question: Well, presumably Larry Summers is not an idiot.
Barro: [laughs] That is another conversation. I have known him for 25 years, and I have opinions about that.
Once again, I am not making that up. That appeared in the Atlantic and The Wall Street Journal ran it as Notable & Quotable.
It is time to start pushing more money into short positions and gold. When the weather breaks this summer, I believe we will see riots. I have said that before, and each day I see things like this, I grow more certain of what I see coming. Please brace yourselves, because it is just now beginning. Look around the world. More than 100 dead in economic riots in Madagascar. How about Latvia, Greece, Connecticut, France, Russia, Chicago, China, Spain protests. When it comes down to food for your children or killing someone that stole from you, so you can feed your children . . . what do you think is going to happen?
If anyone can tell me how giving the Economic Royalists another $2T will improve our lives, please speak up. I want to hear the other side.
I will not be writing anything else today. I will be watching the markets, but I must prepare a piece for one of the major print publications. Hopefully, they will run it without editing out the juicy stuff and before it goes stale.
--------------------------------------------------------------------------------------
Mike Morgan, J.D. – 772–260-5448
'Research, Consulting and Investment Services'
Registered Investment Advisor
Website - www.Morgan7.com
Blog - Mike Morgan Behind Enemy Lines
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