wish i'd said it ... lol

  1. dub
    33,892 Posts.
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    Taking Stock

    Doug McIntosh

    A rally in Japan and now over 500 points on Wall Street: who are these people? Do they even bother to study the current economic reality, or merely respond to feelings, emotions and hope objective facts don't bite them in the ass too much? The markets have reached the point of maximum manipulation and maximum lunacy. 170 billion in fiat wealth is created due to a proposed elimination of taxes on dividends. The only historical comparison I can come up with is from ancient Rome during Nero's reign. Nero had a con man who convinced him of great wealth somewhere in North Africa. Nero fed this gentleman all winter long until he was duly, with great fanfare, sent off to get the reported treasure. No treasure was found, since none existed, and Nero promptly had the man executed when he returned empty handed. One of the reasons I love to study history is we have done it all before. It's not like the current stock market idiocy is anything new under the sun as the Bible puts it. Forest Gump had it right: "Stupid is as stupid does."

    Out here in the real economic world things don't look so hot. Unemployment claims surged to 418,000 at the same time 800,000 long term unemployed were conveniently screwed by our well taken care of Imperial Lords in DC. By the way, the last Congress failed utterly and miserably in its Constitutional economic duty to pass a budget. 11 of the 13 spending authorizations were unfunded and now the new crop of millionaire politicians must deal with it. We currently are careening towards our debt limit, with spending out of control, debt out of control and the printing presses out of control. In a phrase, the United States economy is out of control, the political process for dealing with the economy is out of control and debt and its servicing is totally, absolutely out of control. The current stock market rally in an economic context like this reflects market manipulation, self delusion or psychological pathology, but it does not reflect current economic reality. The United States stock market has decoupled itself from the American economic train and is merrily rolling down the train track by its lonesome self. The faked accounting, the pension under funding, the looming Mid East War, Venezuela, North Korea, the dollar free fall: all of this doesn't seem to register with Wall Street. Whatever.

    The Labor Department no longer will release statistics on job losses over 50 at one time caused by plant closures due to "a lack of money." No, the mutant elite simply decided they no longer could safely report the true reality anymore. The labor statistics have been faked for years in order to make the political system look good. The whole economic system is based on lies, deceit and a media/political/economic complex adept at feathering its own nest. It seems Mr. Blodget is going to be sued because he said one thing in order to fleece the flock and another in his emails. Considering the S&P500 is down 43% in 2000, 2001 and 2002(10%, 13% and 23.4%) ; the NASDAQ is down over 70%( 20%, 20% and 31.5%) and the DOW is down nearly 17% in 2002 alone: DUH. I've been called many things in those emails you love to send me: crazy, doomer and most recently a traitor. One thing you will never call me is liar, deceiver or fraud. I'm not like the scum that have much to answer for in our media and economic elite. If you had read my Memorial Day Meltdown in January of 2002, and gotten out of stocks and into precious metals, you wouldn't have been caught in the worst stock market December since 1931 or the first 3 year decline since 1941. Ah, if I had named it December Debacle would that satisfy my critics? Probably not, but I try to be reasonable.

    Today's newspaper headline was that the United States intends to occupy Iraq's oil fields and use them to pay off the cost of occupation. Didn't that used to be called an Imperial colony? Do we really think China, Russia and the Islamic world will sit idly by and watch the American Empire create a new Rome? Don't we understand they will take specific economic, political and military actions to foil this new version of PAX ROMANA? There's a reason the US fiat dollar is in a free fall, a decline not reflected in the stock markets mind you. Did you read Saddam's most recent speech? I did and it shows me a man who is going to die in his bunker. Precious metals are starting to reflect my views on the matter. I view this war as something like a starting line. A lot of things that were eventually going to happen, economic things especially, will happen in a rapid sequence. Oh, my dear reader, you know Saddam is going to take on Israel, or "the Zionist entity" as they like to call it. And you know, or should know, Israel is going to hit back. Do I have to spell out what that means? Read the man's Army Day speech and tell me my analysis is wrong. He $%^$#&*** says so and we act like he won't. Do you understand what that means for the American and Western democratic economies? Why do we think we will escape?

    I took the entire month of December off from work. Unpaid. I simply decided that I needed to center myself spiritually for the year 2003. My employer went anal retentive on me, but I didn't care then and I don't care now. So, send money, no just kidding! I don't know how to make this any clearer. Economic life as we know it is going to radically change. There is going to be a war in the Mid East with Iraq. At this stage, I see absolutely no way for either Bush or Saddam to back down. The major way America will be attacked is through our economy. Domestic civilians and our economic infrastructure will be prime military targets in this war. I want you to understand that very clearly. This is what asymmetrical or 4th generation warfare means. It means the events in Maryland during October reflect the type of warfare soon to be unleashed upon America and the world. What we must do personally is move beyond the system, spiritually, economically and psychologically. The American economy is on the edge of a chasm, teetering and swaying, awaiting one final push to send it plummeting like Gandalf in the mines of Moria. Even President Pretzel said as much the other day. Why else do you think he sacked his court economists? They know what will happen once war breaks out.

    Doug McIntosh

    8 January 2003

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