The 2012 Db51 Daily Dose of Doom Thread "New and Improved"

[Faust100F]

I think Christie being from New Jersey is enough to drive a stake through that harpies heart. I am afraid Willard and "the poster child for good health" Christie will be the best thing to ever happen to Black Barry and his Chicago Gangsters, they are a shoe in for another 4 years.

Then . . . we get Hillary for another 8 years. That is . . . if this country as we know it still exists. I do like your "hope" that he will be a candidate, but I think we have had just about all the "hope" we can stand with the fella that now occupies the White House. But . . . WTF do I know! Johm

[IA CORN FARMER]

Now Faust, I have everything planned around Obama getting re-elected and the 15% or higher inflation rate that also goes with him. I really don't want to change my master plan if he doesn't get re-elected. So please don't screw up my overall Master Planning, I think you understand how hard it is to change my master plan,and to re-do it requires alot of work on my part.

[db51]

Warning: This commentary is not for the faint of heart.

I thought I'd start this particular Monday morning, May the 14th, with a little rant. Sometimes it helps to ditch the uber-rational, cool-headed analysis and remind people just how screwed up things are on this third toxic landfill from the Sun.

F.U.B.A.R. is a military acronym from WWII - it stands for, "F UCKED UP BEYOND ALL RECOGNITION/ANY REPAIR/ALL REASON".

I can already hear the critics and naysayers chirping - "But, but, we've heard all of this before. You all have been talking about financial meltdown for years now, and it never happens. We just keep on chugging along like the little engine that could".

Bull****! It has happened; it is happening. Every day for the past year has been one in which the Eurozone could erupt in flames, figuratively AND literally, and financial contagion could sweep through the global banking system. That is the definition of systemic meltdown - the critical point past which a system is constantly exposed to the risk of CRISIS.

We all know the story in Europe. The peripheral EZ economies are in freefall as private/public credit evaporates and unemployment soars, while the backlash against blatant wealth extraction, a.k.a. "austerity", has reached epic proportions. Greece is closer than ever to saying "SHOVE IT" and leaving the Union. So what happens after that??

Europe will be F.U.B.A.R., that's what. Capital exodus, financial contagion, hyperinflation, social unrest, civil war - you name it - it's all on the table. What if Greece manages to stay in and none of this happens? Does that mean everything is all better and the crisis point has been averted? Go ahead - sit back, relax and give it a few more weeks or months, but just remember that you will NEVER know when it will hit you like a MACK truck - only that it most certainly will.

And while you're waiting for Europe to implode, maybe you can do some research on China. Google the definition of "a rock and a hard place", and you will see a picture of China with billions of little dots flashing across your screen. Here is an export economy that is watching its biggest export markets collapse, and a financial economy that barely got a few years of illusory wealth out of its speculative mal-investment. An industrial economy that wrecked its environment in record time and left its population with toxic sh1t for water. Google India while you're at it.

Then there's that other country which boasts the third-largest economy in the world - Japan. Let's face it - if there is any one country for whom the bell tolls, then it is Japan. Between its zombie banking system, weakening export sectors, rapidly shifting demographics, lack of domestic energy resources and nuclear catastrophe that never ends, and can always get worse, the country has become a veritable disaster zone. Stick a fork in it.

Australia, Canada - the countries that miracously escaped the housing bubble and banking metldown. Or not. These comically complacent commodity countries can only muddle through by the skin of their knuckles for so long before the recent past catches up with them. WHEN the price of gas or gold or copper or... plummets with foreign demand, so do their financial sectors. Sorry guys, you almost made it, but not really.

Last and certainly least on my list of countries to rant against is the United States. This place is an amalgamation of the worst aspects of every other country. It's a financially-fragile, energy-dependent, consumerist-minded, generationally-entitled, politically-fractured, demographically-****ed imperial police state. We may make it to November elections in relative peace just because our crony political establishment and media spin machines will pull out every trick play in their playbooks to keep the mind-numbingly ignorant population with blinders on until then. After that, all bets are off.

I have really only been ranting about economic issues so far - haven't even bothered to mention systemic environmental degradation, energy scarcity, climate change, growing police states, escalating risks of slavery/genocide, never-ending wars, rising geopolitical tensions, and a whole host of other scary things that go bump in the night, EVERY night without fail. If you still recognize this world as the one from ten years ago, then you just aren't looking at it hard enough.

And, with that, I will end this rant and wish you all a pleasant Monday morning (or whatever time/day it is, wherever the hell you happen to be).

[IA CORN FARMER]

Say, I was banned on the old "Doom & Gloom" thread because some one said my posts were too "Happy". Is it ok if I post on the "New and Improved" Doom Thread if I promise to make sure all my posts are very "Gloomy". Also, do I have to appear in front of the "Doom Committee" in order to get reinstated so I can post on the "New and Improved" Doom thread?

[Tom In Ont]

DB, you forgot, when the prodigal stock "APPLE" is sliding on the charts, the behemoth that has been bolstering Wall St. and there minions, all bets are off. As Apple goes, so does the rest of Wall St. and there machine of machinations of chicanery.

[db51]

ICF..I'll waive your appearance in front of the Doom Committee this time, seeing as how your posts of impending Iowa Corn Yield Doom meets our stringent standards of excellence...keep up the good work,,,,your official Doom Club Membership and decoder ring will be sent out shortly.

[IA CORN FARMER]

ICF..I'll waive your appearance in front of the Doom Committee this time, seeing as how your posts of impending Iowa Corn Yield Doom meets our stringent standards of excellence...keep up the good work,,,,your official Doom Club Membership and decoder ring will be sent out shortly.

My God!!!!!!!!!!!!!!!!!! You really mean it? I am in the Doom Club!!!!!! Plus, I get an official Doom Decoder Ring???? Boy, I am so happy!!!! I can't wait to tell the wife and kids, they will be so proud of me!!!!

[db51]

In simple terms what the JP Morgan loss means is that JPMorgan made bets with other banks. JPMorgan lost the bets. What is JP Morgan's loss is the other gamblers' gain. JPMorgan is going to have to pay off. No money was lost. It's just changing hands.

You see, the same sort of thing happened with AIG. AIG made bets with other banks. AIG lost the bets, the Feds firehosed money into AIG so it could make good on the bets it lost. Who got the money? Big outfits. Outfits like Goldmans.

Neat game eh? The Fed prints money so that losers can make good on bets. The winners walk away with so much money in the pockets their pants are falling down.

[db51]

Wrong Jabber...we already did.

[Faust100F]

Db- I hear Jamie and Lloyd are thinking about taking Db's premium super lube public since almost every American is being bent over the counter by these white shoe jew boys and there is a great demand for it.

I understand poor jamie is being asked to step down from the Federal Reserve bank of New York as an advisor, because of a conflict of interest. Talk about a WTF moment! What a group of morons we have elected to run this government. Pass the popcorn and get me another Corona. Adios Amigo's. John