Distractions and Economics

The war machine is ramping up and for what real reason is unclear. Can you imagine Greece deciding to go to war with Syria out of humanitarian concern at this time. Lets face it, America is in just as much economic trouble. There is one difference, we make money by selling weapons. Currently, we are experiencing a weapons bubble. It is no different than the housing bubble or the stock bubbles and will end the same, it will burst. In fact, in the same way that the housing bubble was planned for, including its bursting, this bubble is planned for too.

It has been published that the President plans on removing our troops from both Iraq and Afghanistan next year. I bet that you also see us close more oversees bases. Civil wars will be good for business, we can sell to both sides in all the region. Remember that picture of McCain with the guy from Al-Qaeda?

Today the stock market dived and the pundits blamed it on the possible attack by us on Syria, heck, it should have gone up if that was the reason. In either case, this is a great time for Wall Street and others to steal you blind. Heck between Miley Cyrus grabbing other peoples private parts on national television and a possible Syrian war, there is more than enough entertainment in the news to get people to ignore the much more complex and impactful things going on.

Yahoo - AP - Calif city looks to seize loans to ease mortgages. Think about this article, cities that are having a hard time paying their bills are considering buying up mortgages through eminent domain. The claim is that these cities will buy homes that have $300,000 mortgages and are worth $200,000 will buy the properties for $150,000 and then sell them to the people living in them for $190,000. The same logic would allow cities to buy homes that have mortgages of $150,000 for $250,000 and then sell them back to the people living in them for $300,000. It is simply more accounting games.

Computerworld - Are Smartphones On Their Way Out?

Yahoo - Daily Ticker - The Trillion Dollar Crisis Facing the U.S.. I went to a seminar once, after the seminar I went to the hotel bar, there was a group of young turks that were there working on setting up a scheme for carbon trading. In Wall Street they talk about creating markets, that is basically finding a way to make money off what is already being sold. A good example is the aluminum market that is 80% controlled by JP Morgan, so the result is that the cost of aluminum goes up and it takes longer to get deliveries. The carbon trading market will basically tax every living thing, just for living. Carbon dioxide is not killing the planet, it is simply a lie.

Bloomberg - Fannie Mae, Freddie Mac Ignoring Write-Offs, Report Says. Lets see if I have this right. Big banks gave out lots of bad loans and during the crisis and since, Fannie Mae and Freddie Mac were instructed, by the government, to buy the bad mortgages. Of course both Fannie and Freddie are government owned so the taxpayer bought the bad loans. Now, Fannie and Freddie are being asked to show their losses. What happens next? I know, I know, Fannie and Freddie will be privatized for their real value and the tax payer eats the losses while turning over all the assets to private banks that will reap the benefits as the properties appreciate.

Don't you find it funny that now that the housing market appears to have bottomed out (there will be another drop) suddenly everyone wants to buy up the properties.

NYSE and Nasdaq and Garbage

Recently, the NASDAQ lost it's computers for three hours. Oddly enough, later trades by the big boys were given a do over. Bad bets were not counted against them. But, nothing to fear, the SEC is getting involved and wants to know what happened. LOL.

Yahoo - Reuters - Exclusive: Nasdaq, NYSE at odds on outage cause as SEC seeks facts.

NYSE Euronext which is investigating what happened and is about to take over the setting of international interest rates (they are taking over LIBOR rate settings) cannot agree with NASDAQ over what caused the problems. I won't go into great detail over what happened, you can look it all up by researching the LIBOR scandal.