Global Bubble, Global Bang

by lizard

The political pundits are busy raccoons playing with the latest shiny object. The latest shiny object is the sequestration deadline, set to go bang March 1st.

My advice: don’t be stupid and waste your time watching the busy raccoons playing with the latest shiny object.

Why? Because the latest manufactured deadline in a ridiculous sequence of manufactured deadlines is just a bit of pizazz to distract us from the massive financial clusterfuck of deceit that continues to be perpetrated on people across the globe.

So ignore even the president, who said stupid shit like this during the fiscal cliff edition of our national charade:

President Barack Obama used an appearance on NBC’s Meet The Press Sunday to predict an “adverse reaction in the markets” and put the blame on Republicans should last-minute efforts to avoid the Jan. 1 “fiscal cliff” fail.

It’s stupid because the markets are fucked, which makes fiscal cliffs and sequestration deadlines nothing more than the decorative bowing of violins.

Signs Of The Times (Zerohedge):

The financial world, at the moment, is a scary place. The signs of this are all about us and yet the consensus view is to worry about nothing. This has been caused by one singular action which is the orchestrated input of cash into the financial system by every major central bank on Earth. Money will go somewhere as it is created and so it has which is exactly why the markets are at or close to all-time highs while economic conditions have crumbled precipitously. It is not this market or that market which is in a bubble but all of them and it is systemic by its very creation.

There is also an ancillary cause of much of this which is the constant use of lies and made-up numbers to cover up and denigrate the truth. This happens to some extent in the United States but is rampant and prevalent in Europe and also a daily occurrence in Asia. The Europeans do not count liabilities as part of the balance sheets for either the sovereigns or their banks but, as I have pointed out so many times before, the not counting of them does not erase their actuality or their consequences. Liabilities are not counted, debt to GDP ratios for the sovereigns which are based upon the fictitious numbers are then not accurate, economic assumptions become a fairy tale and it all plays along for a time until, and the “until” always arrives, that the liabilities must be paid and accounted for because the money is just not there. It has been four years, four years of paper creation, four years of larger and larger lies, four years of fantasy balance sheets and today I call the ball; it is all about to end.

End of the world? No, an end to the charade, which is much bigger than just America’s ailing financial health.

The books are cooked, and the markets are being determined by greedy psychopaths. The US presidency—an office that brazenly declares its ability to act as judge, jury, and executioner when it comes to alleged terrorists—is nothing more than a car salesman when it comes to the global economy.

Fasten your seat-belts, citizens. We are in for a very bumpy ride.

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  1. Big Swede

    Levin nails it.

    • Big Swede

      Written transcript/money quote.

      “I’m going to tell you what I think is going on,” Levin said. “I don’t think insurrection. Law enforcement and national security agencies — they play out multiple scenarios. They simulate multiple scenarios. I’ll tell you what I think they’re simulating: the collapse of our financial system, the collapse of our society and the potential for widespread violence, looting, killing in the streets, because that’s what happens when an economy collapses.”

  2. JC

    Don’t worry, our new Secretary of the Treasury will make it all ok. He’s being paid a cool million bonus from CitiGroup for getting his new gig, and making america safe for capitalism, so, bam!

    • lizard19

      wow, thank you for those links, JC, that is fucking ridiculous.

  3. No worries, the Fed is printing $85 billion per month, buying up mortage backes securities, mortgages, and treasury bonds (QE3). How long can this go on? Months, years? When the music stops, run for cover.

  4. lizard19

    Power Grab at the Fed




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