If I understand things correctly, all the funny money created by financial chicanery designed to perpetuate and inflate the US housing bubble, which played a large role in sustaining the US economy so that US-Americans could continue to go into debt to buy imports from the rest of the world, ...which, actually, loaned the US economy the money to buy their products with this consumer debt, because the rest of the world was dependent upon recycling US-American dollars for their own domestic economies, ... has evaporated. Financial instruments based on reckless loans to insolvent borrowers and priced as if they were AAA-grade investments, have turned out to be garbage. Especially given the fact that continued trimming of the US-American workforce has made more and more US-American mortgagees unable to maintain their home payments, causing these mortgage package derivatives to become worthless.
To sum up that confusing paragraph, ... the circle of bullshit has run into a bump and the charade is over. But since it was all a charade to begin with, why don't we just invent a new charade, ... a more durable one?
And the bit of reality that crash-landed into the financial speculation based on a housing bubble based on unsustainable debt levels? Let's pretend it was like that episode on "Dallas" where they couldn't figure out how to resolve some plot-lines and so they decided to make the entire season turn out to have been one character's dream so that they could pick up back where everything went wrong!
Remember, it's all an illusion anyway.
Now watch this.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment