Saturday, March 21, 2009

I haven't said much this week or last, if you have been paying any attention. I have just been waiting for the different shoes to drop in our seemingly never ending slide into a financial depression. I will say this, the idiots who run the financial sector of our world sure are creative with our money. But the absolute dumbest thing you have ever seen done in public is the latest effort of buying Treasury Bills with money from the federal reserve bank. This is the ultimate attempt to borrow our way out of debt. And this guy Obama is backing it. Like I said, it is the dumbest thing you have ever seen performed in public. People are not going to forget about it when it fails. And failure is gong to be a major pain in the nation's ass this year and maybe a few more. I think my friend Charles Bell has it correct when he says, "Do not be fooled. It IS going to crash." The Chinese are very upset with us. The have a huge pile of T-bills and US currency. They do not like the idea of the US fedgov making all their US financial paper worthless. Most accurate figures of Chinese holdings of US financial paper and cash is in the neighborhood of 2.2 trillion dollars worth. If all that money loses 10% of it's value then China will have lost 220 billion dollars. Lots of anger if that happens. The citizens will be trying to scalp the fedgov guys and the Chinese will be after them also. It could get pretty bleak for a US politician.

It was the first day of Spring for us Hoosiers today. The wife went out and foraged us some Creasy Greens for supper. Not bad. And sorely needed in the diet. Good nutrition and excellent fiber. First greens of 2009 but they will not be the last. I will try to hold out for Lamb's Quarters. Hands down they are my favorite.

Stay alive.

Michael

3 comments:

Mayberry said...

A financial expert I'm not, but my jaw damn near hit the floor when I heard of that the other day. Circling the drain, we are....

Glad to hear from you Michael, I was fixin' to round up a search party!

Heh heh, the verification word is palin. Next up to bat?

Bustednuckles said...

Glad ya put something up.
I was beginning to get concerned something was amiss.

There is a light at the end of the tunnel but it is a runaway freight train heading our way.

Spring is here but our last frost day is in mid April.
I am going to start in on my garden plot today, getting it ready and I am going to see about getting some seeds started.

Good luck Michael and say hello to the Handmaiden for me.

Busted

erniesjourney said...

Glad to have you back Michael! Missed you and glad you are okay - great post too!