CRISIS MAY MAKE 1929 LOOK A 'WALK IN THE PARK'"Rapidly spirialling out of control". When you step back and look at the entire picture, It becomes obvious that the big money boys have just about destroyed the very thing that has made them prosperous beyond imagination. When you see CEO's getting seventy million dollar bonuses for just showing up for a year, you know how out-of-control things really are.
As central banks continue to splash their cash over the system, so far to little effect, Ambrose Evans-Pritchard argues things are rapidly spiralling out of their control
Twenty billion dollars here, $20bn there, and a lush half-trillion from the European Central Bank at give-away rates for Christmas. Buckets of liquidity are being splashed over the North Atlantic banking system, so far with meagre or fleeting effects.
Maybe they think they have almost enough and want to squeeze out that last little drop before they slither away offshore and live the life of luxury forever. Maybe they think the gravy train will never stop. Maybe they are just so greedy they cannot see the approaching brick wall.
Most likely they indeed do have enough and don't care about the coming crash that will obliterate the American economy. Yes, get that last billion of so before the roof caves in....
Who knows?
One thing for certain, if you have all your assets in paper holdings, you're going down with the ship. And it's not waist deep water this time, or even neck deep... we're about to join the Titanic.
1 comment:
Yes, get that last billion of so before the roof caves in.....
Nothing helps you get through the depression like a sack full of money.
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