The world needs change – but who is going to provide?

The NDX lost today all the gains it made last week with thin volume and always with Bernanke and Paulson speaking things get worse. The unpleasant truth is their successors are not any better – so no change on that end – so far the Obama nominations are quite a disappointment – this disaster was created also by the Clinton administration and now they are all back again – thats like one of those nightmare scenes in Hollywood films then the monster keeps coming back.
One famous joke from the movie Philadephia is what are 1000 lawyers chained together at the ground of the ocean ? – ‘A GOOD START’ – that applies for many things especially this ignorant, opportunistic and corrupt politicians who are not less responsible than the banking executives for the enrolling disaster.
Paulson just claimed an hour ago that he always saw the whole problem – now we have him with an official lie – why does he get away with such obvious mishandling and unethical behavior but lets recall he wanted full immunity for executing TARP like the bad guys in ’24’ when they make their bargain negotiations?
Bernanke now creates the last desastrous bubble the government bond bubble with declaring they want to buy treasury bonds put that into context with what Ms.Whitney said today

Excerpt

Trillions in Credit Line Cuts Ahead: Whitney
Reuters | 01 Dec 2008 | 04:37 AM ET function UpdateTimeStamp(pdt) { var n = document.getElementById(“udtD”); if(pdt != ” && n && window.DateTime) { var dt = new DateTime(); pdt = dt.T2D(pdt); if(dt.GetTZ(pdt)) {n.innerHTML = dt.D2S(pdt,((”.toLowerCase()==’false’)?false:true));} } } UpdateTimeStamp(‘633637210444430000’);

The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said.

The credit card is the second key source of consumer liquidity, the first being jobs, the Oppenheimer & Co analyst noted.

“In other words, we expect available consumer liquidity in the form or credit-card lines to decline by 45 percent.”

Bernanke lowers the rates for whon after all by buying bonds, thats is just a save way to make profits by banks sponsored by taxpayers since those purchases will have losses over time – its unbelievable what this guys are doing.

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~ by behindthematrix on December 2, 2008.

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