How can you NOT enjoy a great marching band when times are good. The sound of 76 trombones and everyone watches life march by with all of its glamour. Its natural for one to just expect the parade to infinity but of course the music will stop..... that's the law of nature. There is of course a twisted kind of admiration one has for our band leader......Ben Bernanke..... "His" plan of debt monetization seems to be the perfect tonic for a wounded Western World economy. One may criticize aspects of it, such as complete collapse in Spain, Portugal, Italy, Greece, Cyprus, Ireland, most of the Middle East and Northern Africa, then there's Japan, and now major American cities such as Detroit....but let's not dwell on these minor negatives and look at the positives.
With the resurgence of the housing market through a multitude of "programs" like hedge fund buying that now has a monstrous portfolio of homes that will become permanent rental properties that most likely will be very poorly rented and mortgage rates that plummeted to obscenely low levels so that couples that can ill afford a 400K mortgage can be placed in one.....barely. Even though the rigging of the rates has destroyed any private mortgage market maybe for DECADES! Now that bonds have moved up to "staggering" 2.5% the peeps that were loading up on the overpriced 400K homes are already vomiting and crying on the main stream media. Good luck Ben keeping that bubble going. You had better figure out another plan on those mortgage derivatives still on your precious big bank balance sheets. You should only have 50 or 60 Trillion left of those derivatives to "bail out"..... but then you know that already.
Let's see what kind of precedence we can set this week in the latest ponzi problem.....the Detroit default. An awful lot of real people are about to be completely flattened with the reality of nature unless you step in with the big printer and pull their "dependent asses" out of the proverbial fire you've started. Let's see how you spin this disaster as nature meets ponzi.
Speaking of nature today, gold and I do mean PHYSICAL GOLD is about to become extinct. Many of you still believe we get that buy at 1100 or even below 1000.......maybe......maybe not. It seems if you believe ANY of the Macro that faces us you would have been accumulating at these current levels, but then maybe you are right and the greatest cabal on earth can bring PMs down to give away levels. I hope so and apparently so do some of you waiting for those K Mart blue light specials. One thing is certain the masters of the Universe will always make sure to deliver to you "as ordered" and on "your schedule".
Good luck on the musical chairs as the band plays. I'm not that bright so I've taken my seat early. Apparently too early but hey.......I've got a seat. Gl gang. Oh...by the way.... I hear there are some great real estate buys in Detroit right now.