CIT is on the verge of bankruptcy (probably already there) and hoping for govt largesse.
By Daniel at 14 July, 2009, 2:08 pm
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McGraw Hill is trying to sell their venerable publication Business Week
PPI is up AND people cannot afford higher prices.
Goldman Sachs is an anchor on the economy, NOT a balloon lifting it up. GS is helping to collapse the economy and destroy the middle class through manipulation, fraud, and greed. Their numbers ARE inflated by govt hand-outs and access to inside information that no one else (okay, maybe JP Morgan) gets.
I don’t visit MW very often anymore. I am so sick of the one-sided reporting and willing spread of govt propaganda. I am also sick of the blatant manipulation of the markets and the public’s ignorance and/or unwillingness to demand answers and solutions and can hardly stand to watch.
Just before a sinking ship drops completely below the water the prow will lift up into the air. That is what is happening with the sinking economy and Obama, Bernanke, Geithner et al are all shouting; “Look, look the ship is rising. Everything is okay, it’s a recovery.” And all the pathetic people/sheep celebrate not realizing that they are doomed.
Doom and gloom? Yes it is. Since I know someone is going to post and say I’m probably bitter because I’ve lost money; no I haven’t lost money. I have come out ahead the last two years, but not in the markets which I exited (except for a small portfolio) in mid-2007. I am just frustrated with all of the insanity and incompetence oozing from our government, the media, corporate America and the masses. I will tell you this; one reason for the massive govt bail-outs, the manipulation of the markets and data is that the Govt and the banks have a great fear of a monster collapse. Not just because of the consequences of that collapse, but because of the changes that would be demanded by the people and forced upon the govt, business, and our culture. Just like happened in America following the 1928 collapse and the Great Depression. This time around it could splinter our two party system into many parts, force the end of the Fed, and perhaps end the United States as we know it. Study history, I am not wrong. And I am not alone in my predictions.
Be well and good luck to all.
cynicalguy
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