I’m surprised that these are the first articles I have seen to spell out clearly what’s been obvious to me for a few weeks now after reading tons of material on synthetic CDOs that has come to the surface following the SEC fraud case against Goldman Sachs. The entire U.S. economy is one big Ponzi scheme. The Financial Crisis destroyed nearly every job that was created since 1999 but to keep the economy from collapsing the U.S. Government had to pump, in one way or another, close to 9 trillion dollars , (to give you an idea how ludicrous a trillion is..there are only..ONLY…100 to 200 billion galaxies in the Universe) into the economy… America has exported the lion’s share of it’s industrial jobs to Asia. Several U.S. states are on the verge of bankruptcy… Europe is fraying at the edges and more and more it seems that the Euro might very possibly become a thing of the past
It’s great that markets are rallying and all…but I don’t see any happy endings on the horizon…Lehman’s was the oil rig burning up and sinking and ever since oil has been pouring from the man made whole at the bottom of the ocean of Big Finance. They can fight the fire, they can try and contain the slick..but it’s coming to shore and there ain’t much we can do about it.