12.09.2008

Smells Like Armegeddon

He has no idea how bad it is out there! He has no idea!


Most of us are familiar with Cramer's proclamation that Armageddon has arrived, but I was thinking about it today at the gym. Most market watchers laughed when Cramer scared the pants off his lovely co-host last year with this performance. They denied the possibility that the sub-prime toxin could spread - they denied the possibility that our sacred investment system could implode as a result.

So I started to wonder today... Why aren't people in the media raising alarms? I read a blog like The Automatic Earth and I fear that I don't have enough time to prepare myself for The New Depression. Yet I watch CNBC or CNN and stories concerning the collapsing economy seem distant, as if they are discussing the collapse of the Faukland Island markets.



Why aren't Hell's Cheerleaders preparing us for a Major Recession? Either they believe the crazy shit that spews out of their mouths, or something worse. They know it's too late for people to prepare, or that revealing the truth will cause widespread panic. I survived the Hurricane Rita evacuation and lost everything I had in Hurricane Ike. I've seen a few million people clean out a city's reserves of food, gasoline, propane, and nearly everything else of "value". (There was a run on ammo, too.)

The truth? Food/Energy supplies will be interrupted. No new jobs will be created, though some workers will be shuffled. Credit won't be available. Security and healthcare services will be severely cut back. You may not find an emergency room if you are injured in a home invasion. Consider the city of Houston during the week after Ike. Now consider pockets of social unrest of that degree across the nation, perhaps the "civilized" world. Some may last a few days, others a few weeks, others longer...

We're entering dark days and the media puppets know it. I think Obama and his team are going to make a serious gamble - they don't want to cause a panic yet. He has two choices - put people to work through warfare or through "infrastructure repairs". I'm not sure either would work, but I guess he has to try something.

Meanwhile I'm sure I will continue watching the Cheerleaders of Constrainted Capitalism argue for the sanctity of The Free Market.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home