[IWE] Tin Foil Hats At The Ready

[Ashton Brown]

D. Scott Katzer wrote:
> Hi Peter,
>
> Peter Whysall wrote:
>> http://theinternationalforecaster.com/International_Forecaster_Weekly/The_Bailout_Wont_Work_and_the_System_Will_Implode 
>>
> It's certainly a little hyperbolic, but his links to RGEMonitor are 
> pretty scary.
One wonders what his Subscriber material includes, eh?
> http://www.rgemonitor.com/roubini-monitor/253853/financial_and_corporate_system_is_in_cardiac_arrest_the_risk_of_the_mother_of_all_bank_runs 
>
> Roubini's had a pretty good record on predicting the current crisis. I 
> hope he's wrong about upcoming events, but thus far the US financial 
> market isn't moving in the right direction.

Roubini, the Rodney Dangerfield of the dismal astrology clan. Matters 
are accelerating towards --> Full-surreal.

[. . .]
/And if this toxic waste is worth pennies on the dollar now, what will 
it be worth when our economy finally comes down under the weight of our 
rabid profligacy, rampaging fraud, rampant speculation, raving lunatic 
leverage and roaring, outrageous deficits? You guessed it. A big fat 
goose egg. You will eat the whole thing - guaranteed./

Comic relief, by local PBS wags -- KQED ran 'Wall Street' this PM; cute?

Did Muricans believe for many seconds that, in such a crisis, in a 
system modelled for as much intricate obscurities as legions of 
well-paid lobbyists could contrive/bribe -- that someone hired by 
Bushiecons would come up with a plan, the very First One: which is 
actually the most competent one? What're the odds?

Then, via NPR -- 
http://www.npr.org/templates/story/story.php?storyId=95395712
Ira Glass + Adam Davidson attempt to bring some scale and relativity, in 
plain English + logical examples.
See also: 
http://www.npr.org/blogs/money/2008/10/hear_is_the_bailout_worth_it.html

"600 professionals are/were working to keep the Paulsen Plan VS the 
Stock Injection variant."
/So it was surprising to learn on Friday that, despite intense 
opposition from the powerful banking lobby, language authorizing the 
government to use a stock-injection plan did make it into the final 
version of the bailout bill. The law does not make a stock-injection 
plan mandatory, but it does leave it as one option that the Treasury 
secretary can use when bailing out a distressed bank./

Let's see, fellow readers of owl-entrails, cast to appease the 
bitch-goddess of Econ, /Perplexity/ -- how many .pdf pages are in that 
Windows/Financial Bill source code? wherein this Interesting option 
appeared after pp 120 or so.
As-if ... any one or congenial group Could parse the incestuous forks 
and involuted derivatives of the Compleat Morass.
Insufficient data ==> sheer Guesswork! (Only real sciences can make 
predictions that happen with any regularity.)

Credit Default Swaps: invented by a physicist! {double ugh} who switched 
to finance ~ '93 (unclear if this actual Worthy talked to Ira.)
Quip offered, 'Weapons Of Mass Finance Destruction; multiple insurance 
policies on a house you don't own.' Now throw in the hedge fund Gordon 
Geckoes -- et voilá the Moloch-mindset as viral Nemesis of The Good.

/Whatever happened to the notion that someone — a cabinet member, a Wall 
Street chief executive officer, the inventor of credit-default swaps — 
might actually fall on his or her sword? Shame has become a quaint 
chivalric notion, like honour, a thing of another time./
http://www.theage.com.au/opinion/the-terrible-cost-of-the-bush-crowds-risky-business-20081004-4twg.html

Later Q: "Can I set up a system where their mistakes won't affect you?" 
-- -- -- {long pause}
Deflection: "The only people who understand the System now are 
technocrats." ...
"Essentially the world just has far too much debt (complicated by the 
financial engineers.)"

(Ira's group didn't get to Roubini's Mass in F$ Minor; pity.)
It is to cringe; the least onomatopoetically mush-mouthed of the Econ 
astrology cartel does seem to be our Mr. Roubini, yet again
/ rhymes with Houdini -- surely an astrologically retrograde recursive 
infarction that shall try the faith of all Econ acolytes, one would 
suppose. Does he need a bodyguard?

If Mr. R concludes, this early, that: We Are Toast -- some might 
conclude <Carousel> ..and all the rest is talk.
The fuel - actually prescribing that we consider alternatives; he just 
doesn't grok The Murican Way.


So when shall Canada close its borders to all not accompanied by a 
sufficiency of Au ingots?