Mainstreet get screwed double -Investors seem to be retarded as they buy the phony claims

The same man told us 2 years ago the situation was contained and losses would be in the 50 – 100 bil range for mortgage related assets at banks – I am speaking of the incredible Bernanke who made no good call since he is in office and I doubt he ever will. The latest call of the IMF estimates 4 trillion ( I rather think closer to 10 tril.). If banks would have reported under the same parameters as before the losses would be far beneath 40 % for this quarter so what is this euphoria about.
Markets never were and never will be rational – a group of greedy jerks is trying to make us believe that emperor is not naked and unfortunately the Obama administration is part of that. In a year from here it will fire back that they painted such a rosy picture and more so with half term elections. Its like the Titanic is sinking slower for a while and the captain tells us its all over the ship will not sink.
We have negative interest rates globally and money for Mainstreet is destroyed on a daily basis. Mainstreet gets screwed double right now as the taxes have been thrown into those greedy banks and at the same time the savings get destroyed by negative interest ( interest you earn is below inflation means that you loose money every day). Once the hyperinflation kicks in that effect will even be faster. The only ones having a benefit from those negative interest are banks who have a bigger profit margin – hence you got screwed double sponsored by the government which says its necessary but that bluntly spoken bullshit.

Excerpt

Global Confidence Increases as Bernanke Sees Start of Recovery

May 14 (Bloomberg) — Confidence in the global economy jumped to the highest level in 19 months as central bankers pointed to signs of a revival and stress tests on U.S. lenders reassured investors, a Bloomberg survey of users on six continents showed.

The Bloomberg Professional Global Confidence Index climbed to 38.72 in May from 21.2 in April, the biggest increase since the survey began in November 2007. Because the number is below 50, it means pessimists still outnumber optimists.

Federal Reserve Chairman Ben S. Bernanke and European Central Bank President Jean-Claude Trichet are among officials who have signaled the recession may be easing. While job losses are projected to keep climbing, factories are producing more as inventories run down, helping push the MSCI World Index up 37 percent from the year’s low in March.

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~ by behindthematrix on May 13, 2009.

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