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Don't Worry Be Happy Tout TV's Economists Will Soothe Thee

By Roger Wiegand      Printer Friendly Version
Oct 25 2007 3:49PM

www.tradertracks.com

“Fund managers and their media boyz’ spinmeisters sing perfectly in tune giving us loads of reasons to keep buying their game and prolonging the inevitable. This is fine except for one ornery 81 year-old guy who keeps mouthing-off protecting his legacy while diverting blame to his we-got left-holding-the-bag, bag holders. Greenspan resembles an active hunting dog marking-off his territory. Bush fervently wishes he would go chase pheasants, literary queens and publishers while getting lost in the economic woods. Instead, he offered the following to a private equity group meeting in Chicago yesterday saying:

"We are now in a state of fear"

Aw geeze Alan, did you really have to tell us the truth? He immediately realized his mistake and followed with, “We are not out of the woods in terms of credit turmoil and told us recession odds are less then 50-50 and he doesn’t expect that the economy will go into an actual recession.” Pardon me while I choke.

Too late Alan; the kitty jumped out of the potato sack. We agree the economy might not go into a recession; we are already in one. Our stronger concern is hyperinflation, bank runs, deflation, rampant unemployment and the D word-Depression. In our view, all of this is inevitable. Our primary concern is a report we got from credible European analysts this week adding more gray hairs to my head and my chinny-chin-chin.  That report told us with a very clear vision how we might see army troops and tanks in the streets in America at this time next year.
Now I’m in a state of fear.

Consider These Small Insignificant Issues

  1. The reserve currency of the world, our U.S. Dollar is under water and seeking even lower depths.

  2. Europe and Canada are taking the brunt of our cheapie dollar enduring rising homeland currencies hurting their exports and making everything more expensive. 

  3. Meanwhile, Washington D.C. trade and commerce minions and lackeys chortle about our rising exports costing less each day. No kidding dummies, the dollar is not worth squat. It certainly had nothing to do with their, ah, expertise.

  4. American consumers providing 70% of all U.S.economic activity are on life support. They have a negative savings rate, and are living day-to-day on plastic lying awake at night wondering whether they lose their homes tomorrow morning.

  5. Housing in the USA and most free nations is falling off a cliff.

  6. Bankruptcy filings have tripled and slicker lawyers are in feeding frenzy.

  7. Hank Paulson, our esteemed Treasury Secretary appeared on the verge of  a stroke when we saw him on the last Saturday news almost begging and pleading with platitudes, telling us all is okay except for …………………….

  8. Chopper Ben Brenanke, Chairman of the Federal Reserve demonstrates regularly his interpretation of a deer in the head lights. Frequently on high beam.

  9. Foreign buyers of our currency, notes, bonds and bills are horrors, not only not buying the stuff, but stuffing it into sovereign funds for expeditious investments in hard goods throughout the world. El Dumpo the dollar.

  10. There is almost no credibility from the Washington D.C. national government and little more from the financial world in New York. One guy told us notorious criminal gangs have more respect.

  11. Fuel and food are skyrocketing and agriculture is failing over the planet from drought and a variety of growing and producing problems.

  12. Bush’s Middle Eastern adventures kicked over a hornet’s nest and the buzzing cloud is rapidly increasing in size as it spreads through adjoining countries.

  13. Our large collection of former international friends, partners and colleagues once numbered in the hundreds. Now, if the truth be known they could be counted on one hand. Many of them would not hurt us but refuse to engage their nations in Bush’s nefarious schemes for control of global oil.

  14. The Enron boyz merely got caught too early. Global investment bankers committed much worse but they exist in the “too big to fail world”so they not only get a free jail pass but get paid more large fees to sweep the news under Wall Street’s rug.

  15. The only thing this country has left of value is our gold reserves. Now this week we learn our government treasury leaders have been leasing it out and otherwise diminishing the so-called held and stored supply.  In our view, we wonder if these pirates have left us any at all.

  16. Oil, gas and other energy sector prices moved to the stratosphere. Lower paid workers can’t even fill the tank to go to work. Not only that but these prices are headed to the moon making the current burden into a religious moment; a real genuine crisis.

  17. Next year we get an election and it seems to us our choice will be between a fascist or a socialist-semi-communist. So how is this going to help this nation?

  18. In summary, the old fashioned spirit of working together and helping each other in America is fading like our dollar. Society is becoming dog-eat-dog with every man and woman for themselves. Charities cry out for donations and food banks go empty just when they are needed the most. Millions of American children will go to bed hungry tonight just like their parents in the so-called richest nation in the world.

We know of no answer or, can offer hope of an answer. Maybe our Founding Fathers and the old guy helping to originate our freedom who said, the “Tree of Liberty must periodically be refreshed with blood” was eerily prescient. We hope to God it doesn’t happen. Pray for peace and hope for the best.

Gold and silver are real untainted money. They offer no attached corresponding offsetting debts or danger. Get busy and pay off debts, and get trading and investing in precious metals. The largest portion of the rally is just over the cyclic hill. -Traderrog

Roger Wiegand

 

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Roger Wiegand is Editor of Trader Tracks Newsletter for gold, silver and energy traders. Roger provides recommendations for short and longer term traditional futures and commodities trading with specifics for individual trades.  See webeatthestreet.com for more information.

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