[IWE] Tin Foil Hats At The Ready
Ashton Brown
iwe@warhead.org.uk
Sun, 05 Oct 2008 00:37:05 -0700
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?