Thursday, January 21, 2010

Been a fascinating 48 hours

It seems as if ever since Scott Brown won election in MA a whirlwind has started.  First of all it is almost inconceivable to me that Brown won on his own merit.  That defies logic and is held up by the votes.  He got about the same number of votes in MA as John McCain did.  I also think that if the DNC had wanted Coakley to win they would have pulled out all the stops to make sure she did win.  They could have a top notch team in to run her campaign and they didn't.  Its almost as if the DNC did not want to win or didn't care if they won in MA.

Then you have all this stuff about the PIIGS and Japan, the phony deficit commission, the supreme court ruling recognizing the reality of American politics, Obama coming out claiming he wants to reign banks in and world-wide the markets are all down today.

On top of that you have the continuously accelerating destruction of the American economy, eating itself in its never ending hunger for credit.

This chart says it all.  A prime example here in BC is Fortress LLC being unable to restructure or get a new loan for Intrawest despite having a year to do so.

The dog is chasing its tail and eating itself in the process.  Just like a hungry man eating his own foot and working his way up.  There is no end in sight nor anyway to stop it.  It is laughable when you hear someone say government just needs to stop spending.  Farcical when someone says that China will rescue the world by consuming more. Thats impossible and a total joke.

American financial capitalism is destroying itself and is taking the whole world down with it.

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