Gangster in a pinstriped suitLook at these seemingly disparate snippets:
1. Micro-cap and OTCs.
2. Last week Glenn Beck blew the doors off a story that he had been cooking for a while: an undercover independent film-maker and associate had walked into an ACORN office pretending to be a pimp and prostitute and "asked for help" in cheating the government by obtaining both a housing subsidy and committing tax fraud.
But that's not where they stopped - they disclosed "intent" to bring in underage girls from El Salvador as the essence of their "business" to serve as prostitutes as well.In short, they declared themselves as traffickers in the sexual abuse of children and asked this government-supported and funded "community organization" - an organization that Barack Obama was associated with very closely in his time as a Chicago "machine" politician before he ran for President - for help.
Instead of being tossed out on their tail (or having the cops called) they instead received advice from ACORN on how to swindle the United States Federal Government in the promulgation and practice of their alleged-unlawful scheme!
3. FHA has been and still is putting Americans into loans they cannot afford, as is proved by the default and foreclosure statistics. The housing and banking industry has not reformed its ways, specifically, pushing loans on people they cannot afford, and the FHA is blatantly conspiring with these clowns in approving loans that statistically have a one in five shot at failure.The claim that these mortgage programs are "helping Americans" is a damned lie. No program that winds up with one in five borrowers unable to pay - a rate double that of credit-card defaults - can be said to be "sustainable", "safe", or 'helping homeowners."
We must clear the bad, un-serviceable debt from the system. Papering it over or worse, transferring it to The Federal Government where you think people won't find it won't work.
The only solution to the housing crisis is that prices for homes must come down to where they are actually affordable on a long-term, sustainable basis.
4. Obama's speech: "To come up with creative approaches to improve financial education and to bring banking to those who live and work entirely outside the banking system. And, of course, to embrace serious financial reform, not fight it."
What sort of financial reform would that be now? Bringing banking to those outside of its clutches?
5. It is possible that the Fed monetizes sufficiently to reinflate an equity bubble, essentially whoring out the Dollar and the real economy for the sake of the financial or FIRE sector.
This is what I have been thinking - that the stock indices are now fundamentally disconnected from the health of the economy.
What connects the dots?
1. Out and out lies, distorted stats, scams, laundering money, making it disappear, riding roughshod over regulations or creating markets where regulations don't apply, creating special get-outs for favoured participants and the greatest joke of all - then bringing in draconian legislation to regulate everyone else in the market after the main crims have cut and run;
2. Blaming "capitalism" and the free market economy, which was hijacked and prostituted long ago by the gangster barons, for all the ills, shoving the zillions of debt on the ordinary non-player and getting those ordinary punters to agree to a dismantling of the capitalist system in favour of a state regulated one, in order to keep the gangster barons who would control the system, under control;
3. Complete lack of anything we, of the Judaeo-Christian heritage, would consider to be integrity, morality or fair play from the people doing this, from the presidents and PMs to the pollies and Pod people in departments all over the nation. In fact, it is Anton le Vey's "do as thou will" which rules, with laws of morality put in place only to prevent anyone else buying into or stopping them in their pursuits, whilst crying moral to the people and blaming anyone but themselves.
If these were people we met in the ordinary course of life, if they were going for jobs or engaging our trust, would you give them the time of day? And yet these are the people holding us to ransom in our nation to this very day.
