I think that happened about the same time Detroit's oh so wise city council passed a resolution demanding the DoJ investigate George Zimmerman for civil rights violations.
So here we have the largest bankruptcy in US history I believe and the chief cause of this outrage has the balls to make statements and expect anyone to care? Tell me doesn't the Corrupt city council of Detroit have more important things to worry about than some criminal getting popped thousands of miles away in another city?
I hope Meredith Whitney is off somewhere drinking a margarita and laughing at all the Bond holders that called her a kook back in 2010. I knew she was right then but her call being off with her timing proved to me that honest people cannot accurately forecast the amount of time crooks will be crooks.
Detroit's bankruptcy is going to have some long range artillery folks, and those rounds are gonna strike water and create some waves that will wash up on everyone's shore eventually. One way or another.
If Obummer bails Detroit out then hold on for the flood. If he doesn't then the bond market rates are going to skyrocket. If he shafts the private and financial bond holders and not the union pensions the rates will skyrocket more. If he deals with each equally rates will still skyrocket and the flood of other municipalities declaring bankruptcy and expecting a bailout will happen anyway.
The Global economy the one world government types have been pushing for years is about to come crashing down folks. European banks are heavily invested in Detroit bonds. I was reading today that Dexia is exposed for 305 Million and about a third of that is insured by Euro countries backing.
I am interested in seeing how they keep this incoming blip from showing up on the so called recovery numbers.
Of course this is going to take some time to go through the courts and there is going to be some serious enron accounting going on to try and hide the pain but the economic car just took the lead in the race to the cliff I think.
No matter which way the government turns they are gonna lose this one and the exposure goes a long ways. This could be the one that gives us the single largest step down the decline ladder since 2008.
Keep Prepping Everyone!!!
It all boils down to priorities. I see it almost every day, with every day folks. Sad but true. They (council) feel its better to jump on the racial hatred band wagon, then to tackle the true issues. (debt)
ReplyDeleteRob - My guess is they don't feel going broke is something they should have to fix. They are owed all the money they could ever want.
DeleteBased on 2008 I'd say the government will do whatever it has to in order to protect the rich and the ruling elite, while the hoi pol-oi will be left to lose everything.
ReplyDeleteHF - Yep they just make sure it is set to happen down the road a bit so the sheep don't feel the fleecing right now.
DeleteGZ needs to leave the country while he is a free man for his own protection. It was reported a few days ago that the Sanford police had just sent the evidence from the case to the Feds. They will get him sooner or later.
ReplyDeleteThis isn't an investigation just to appease certain groups of people until they cool down some.
DeleteYa They are going after him that's for sure.
DeleteHope he moves to rural Missouri we will defend him.
Lorraine - I added a link to your blog. I have seen and enjoyed many of your comments around the web so welcome!!!
ReplyDeleteThank you!
ReplyDelete