Tuesday, September 30, 2008

The housing market is crashing, securitzation is kaput, and the broader economy is drifting towards

Black Monday?

Once the banksters have offloaded their fraudulent securities and crappy paper on Uncle Sam, they will do whatever they need to do pad the bottom line and drive their stocks up. They'll move their capital wherever they think they can maximize their profits. In fact, a sizable portion of the $700 billion will likely be invested in commodities, which means that we'll see another round of hyperbolic speculation in food and energy futures pushing food and fuel prices into the stratosphere. Ironically, the taxpayers’ largesse will be used against them, making a bad situation even worse. Then again, if a rehabbed bill isn't passed, no one can predict with certainty what will happen.

Posted by malct @ 12:41 PM (545 views)
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