Trade With Dave

I don’t know the source of this photo.  I captured it from a post on reddit.com.  A picture’s worth a thousand words… in this case a thousand and one.

You may find it interesting that the young lady added to her poster what would appear to most Americans as an upside down “peace symbol.”  Actually the symbol is a letter from the ancient Anglo-Saxon rune alphabet.  The symbol goes by the letter name ”Algiz.”  It’s meaning is the same as the word for the animal “elk.” 

Here’s a translation of an ancient Anglo-Saxon rune poem to give a feeling for the symbolism of the elk and the letter “Algiz.”

The Elk-sedge usually lives in the fen,

growing in the water. It wounds severely,

staining with blood any man

who makes a grab at it.

In addition to the symbol for an elk, the Algiz is a symbol of a person reaching upwards holding a sword in one hand and a horn in the other as a guardian providing both reactive defense and proactive protection.  This symbol for the Algiz was carved into both the swords and the shields of warriors as a mark of protection from harm and regardless of whether on the defensive or on the offensive the symbol is an indicator of the presence of a tangible threat to be guarded against whether physical or spiritual.

There is no way to know for sure what this young lady was thinking with her poster.  It could certainly have been inspired by recent comments by Bill O’Reilly on the tv show The View, or the comments by Juan Williams on National Public Radio that cost him that job.  She is certainly a lovely young lady and her smile expresses peace and joy. 

From my perspective and whether she means it or not, I think the poster is about defining what is a terrorist.  You can read plenty of posts on this blog about the subject of terrorism such as the MIAC (Missouri Fusion Center) controversy where a site like this one could be defined as an act of terrorism for law enforcement who are profiling based on things like a Gadsden Flag or our freedom of expression to attack threats to the Constitution of the United States.  When you watch the video from Wikileaks of unarmed citizens being gunned down in the street, it certainly leads some folks to describe those killings as an act of government-sponsored terrorism on the part of the U.S. Government and the citizens who support it.

In times like this concepts such as what defines a sovereign state are increasingly falling into the category of “gray area.”  When the Federal Reserve asks the primary dealers how much quantitative easing the Fed should do, it makes you question how exactly sovereignty has been rigged right here on the home front.  In my mind, “the rules of war”, “the war on terror” and “the war on drugs” for that matter all become issues of business rather than issues of honor when you outsource your allegiances to the likes of Blackwater and you promote big pharma on the Wheel of Fortune and then have huge disparities in sentencing for inner city, low income (mostly black) crack cocaine possessions as compared with suburban, high income (mostly white) cocaine possessions convictions. Add in Ritalin as the management tool of choice for one of our most valuable assets, the fiesty eight year old boy and what does our future look like when Uncle Sam becomes Father Sam.  

We’ve boiled down the love of country to its least common denominator which is the almighty dollar and now the plan is to boil the dollar down to its least common denominator (i.e. the IMF’s special drawing rights currency basket).  I don’t have a problem with the young lady with the poster.  Unlike Juan Williams, her wardrobe doesn’t intimidate me if she’s sitting next to me on a plane.  What does get my attention is when I am absolutely certain that the rule of law and concepts such as distraint and habeas corpus, (which we’ve been operating under, and dying to protect, Algiz in hand, since the signing of the Magna Carta) would be superceded by Sharia?

Christians, Muslims and Jews may share the same Abrahamic heritage, but the Constitution of the United States was not chartered to be subordinate to any other law (including Islamic law) while this experiment has been conducted under the banner of In God We Trust.  Regardless of how much sanity is restored by the comedy of Jon Stewart or how much fear is kept alive by the satire of Stephen Colbert, the challenge facing me and this young lady is a simple one.  It’s not about our faith, she’s entitled to hers and I to mine under the law of the land.  It’s not about fear or insanity.  It’s about the business of nation building and its rise and fall.  This nation was founded on the idea that government should be of laws rather than of men.  Today, that law is the Constitution.  People at the highest levels of government and business are working every day to gradually tear away at that fabric.  If it does fall, it will only be because we allowed it to. 

No doubt the throne in England viewed the Founding Fathers of this country as terrorists.  Today people may call the young lady in the photograph a terrorist.  People may call me a terrorist.  To me the definition of a terrorist is a person whose primary weapon is fear.  Fear of death.  Fear of destruction.  Fear of fear itself.  When someone asks me; what does it mean that humankind was made in God’s image?  I say that’s simple.  We are each given the power to choose.  Fear is a choice and if don’t choose it then terror has no power.

Does that mean that there is no death, there is no destruction and we can all be like Rodney King suggested and “just get along.”  Don’t count on it.  I didn’t believe candidate Obama’s slogan of “change” or those who oppose government today at WeAreChange.org could truly bring change.  Change is as individual of a thing as your DNA.  It can only happen one person at a time.  I know that I have tried to change and I have a long way to go and cannot do it in my own power.  As far as my wishes for the young lady in the photo above, I’ll have to rely on someone else to help me communicate my feelings (see video below).  I do know one thing for certain.  Nations are made up of citizens just like churches are made up of their members.  If it wasn’t for those who had fled to the United States in search of freedom, I’d be sitting in the middle of the Cherokee Nation right now which is rightfully their land were it not for the change brought here… one by one.   

Although I believe that our country is the greatest idea that mankind has ever conceived for the purpose of nation building.  I also know that no nation will last forever.  Unlike de Tocqueville, I believe this one has many great years ahead of it.  At the same time, I believe that the souls of people, unlike temporal nations which have no soul, are an eternal matter.  The lady in the picture and me, we share that great gift in common from our Creator.  I don’t have a solution for how the law of this land could be subordinated to the law of Islam and my understanding of Islam is that it will not be subordinated to the law of this land.  That being said, I can offer to the young lady a new name for her and that is sister.  I can also share the one thing that I know always solves the problems between people, but can never be understood by nations, for nations are not sentient and have no understanding.  The solution is love and the vehicle for that love to be delivered is forgiveness.  When it comes to fear, I’m not afraid to hug you and when it comes to restoring sanity, here’s what Jesus of Nazareth said about the subject: It is written: “‘As surely as I live,’ says the Lord, ‘every knee will bow before me; every tongue will confess to God.’”  I know what is in my heart.  Listen to Dave Matthews talk about exchanging hearts with his sister.  It takes two hearts to make the peaceful exchange… e-v-e-r-y-day.

Update:  If you don’t care for my explanation or the more popular culture approach presented by Dave Matthews, you may want to consider the Russian author and philosopher Leo Tolstoy’s take on the issue at hand.  Here’s an excerpt from The Kingdom of God is Within You.

Meanwhile one would have thought it was necessary to point out at least some kind of solution of the following question, since it is at the root of almost everything that interests us.


The question amounts to this: In what way are we to decide men’s disputes, when some men consider evil what others consider good, and vice versa?  And to reply that that is evil which I think evil, in spite of the fact that my opponent thinks it good, is not a solution of the difficulty.  There can only be two solutions: either to find a real unquestionable criterion of what is evil or not to resist evil by force.


The first course has been tried ever since the beginning of historical times, and, as we all know, it has not hitherto led to any successful results.


The second solution – not forcibly to resist what we consider evil until we have found a universal criterion – that is the solution given by Christ.

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In a related story out of Hollywood, the public is realizing that the multi-year spoof relating to Joaquin Phoenix’ retirement and the launch of his career as a rap artist may not be over.  A well-known Hollywood director weighed in on the controversial movie produced by Casey Affleck and starring Phoenix by saying “It’s fairly obvious that P Diddy was chosen to play the role of the Fed’s Primary Dealers due to his name… P. Diddy… Primary Dealer… get it?” 

When questioned by reporters about the far-fetched nature of his claim the director went on to say; “Just look at the dialogue.  It’s identical to the conversation between Bernanke and the Primary Dealers in regard to the survey issued this week relative to the second round of quantitative easing.  The scene where Joaquin, obviously playing the role of Ben Bernanke comes to Sean ‘Primary Dealer’ Combs house to discuss how much money would be needed to launch the rap career, an obvious metaphor for economic recovery… anyone can see that.” 

Questions about whether Combs would be willing to represent the Fed’s Primary Dealers in the sequel remain, but the fact that he clearly understood the key role which the primary dealers would play in QE2 is obvious by his convincing portrayal of the music mogul in the so-called documentary of Phoenix struggles to become a mountaintop waterdrop.  A more detailed analysis clearly shows that amongst Affleck, Phoenix and Combs, that someone had clearly anticipated that rather than providing the leadership expected from the Fed, that instead a survey would be distributed to the primary dealers essentially answering the Phoenix’ rhetorical fed question “How much do I need?” with the P.D.’s “How much you got?” 

As of yesterday, according to a report by the ever-popular and Tyler Durden’s ”I’m still here too” website www.zerohedge.com, at least four of the primary dealers had responded to the Fed’s survey with the answer of $1 trillion+.  At this point, it can only be speculation that Diddy knew the answer all along was a trillion+, but it did not prevent him from answering the question with a question, a technique that insures no money is left on the table and that the maximum funds can be transferred under the table. 

As the market waits to hear back from those remaining names on the list of primary dealers (now coloquially referred to as P Diddy’s – see below), there’s time to breakdown the analysis reported by Zero Hedge of the note from Merrill Lynch’s Harley Bassman points out:

“Four dealers are predicting a $1+ Trillion buy program.” It is good to finally know what the bogey is.

I was feeling just fine about the world today…..until I was handed a survey of dealer opinions about next week’s QE2 event (aka the FOMC meeting).

Four dealers are predicting a $1+ Trillion buy program with a smattering of $900bn and $600bn votes tossed in.   This would not have bothered me too much if not for the revelation today that the FED was asking dealer opinions.

This reminds me of how I tell my kids that our family is a democracy: They each have one vote…….and I have five !!!  Why is the FED asking ??

They are supposed to already have the answer.     

The result:
              std px   Nvol    breakeven          Terminal Breakeven      Sep 28 Low
 FVZ        1-00     97nv   +/- 23½bp        T5yr ~~  1.01%  to  1.48%     1.10%
 TYZ        2-02    126nv   +/- 27½bp       T10y ~~  2.39%  to  2.94%     2.39%
 USZ        4-00    131nv   +/- 28½bp       T30y ~~  3.76%  to  4.33%     3.66%

Considering the uncertainty, I would NOT call these options rich. Two points for at one month straddle on TYZ is a much better long than short.

End Bassman Note

Here’s a list of the New York Fed’s Primary Diddys

BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
Mizuho Securities USA Inc.
Morgan Stanley & Co. Incorporated
Nomura Securities International, Inc.
RBC Capital Markets Corporation
RBS Securities Inc.
UBS Securities LLC

Here’s a link to the scene from Joaquin Phoenix ~ I’m Still Here which is purported to be the inspiration for Bernanke’s strategy (played by Phoenix) for QE2 to be a “place of true exploration” when he asks the market/primary dealers (played by Diddy) ”how much QE do I need?”

Update:  When asked about who would be financing a movie targeted to an even narrower audience than the original I’m Still Here a key source in Hollywood said, “You clearly don’t understand or you wouldn’t be asking how we’ll pay for this.   This isn’t some niche spoof launched on David Letterman and designed to appeal to Joaquin’s fan base like the first movie.  This movie appeals to every member of the tea party and anyone whoever proclaimed their own inner desire to END THE FED.  Based on the initial reaction from insiders, if we can get P Diddy to agree to the sequel, we believe we can get a cameo appearance from Ron Paul.  This is big.  This is mainstream.  This is the economic equivalent of Rush Limbaugh in mixed martial arts… everyone will want to see it.  Who knows, we might even have Sarah Palin starring as Clarence Thomas Wife, or at least Palin’s daughter, the one on Dancing With The Stars as an example of how a white hip hop crossover artist can succeed.  We have to do something to quell all this election-driven racism.  Hollywood must do its part.  There’s a moral hazard if we don’t”

 (I’mStillHere, EndTheFed, TradeWithDave and There’sAnAppForThat may all be registered Trademarks)

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 David Alan Grier, author, comedian, chocolatier

Rumors are swirling throughout Hollywood and 1515 Broadway in New York that David Alan Grier’s TV show, “The Chocolate News” will be renewed.  Unnamed sources were quoted as saying “President Obama’s appearance on The Daily Show with Jon Stewart, the implied endorsement of the Rally to Restore Sanity and the general rising consciousness of racism surrounding the Tea Party and the mid-term elections has created an opportunity that is too rich to resist.” 

When media experts were asked about the inflammatory nature of David Alan Grier’s comedy, one outspoken TV critic said “Just imagine what Grier can do with a comment like ‘Brownie, your doing one heck of a job.’  He can get a half a seaons worth of comedy mileage out of that single comment from the president on Jon Stewart’s show.”  The critic was referring to the comment by President Obama where he alluded to George Bush’s glowing endorsement of FEMA Director Mike “Brownie” Brown’s handling of the government’s response to the Katrina disaster. 

When President Obama responded to Jon Stewart’s inquiry into the performance of White House Chief Economic Advisor Larry Summers by saying “He did a heckuva job” and “pun intended” he seemed to be comparing Mr. Summer’s job performance to that of Mike Brown’s massive failures in New Orleans and the Gulf Coast.  Suggestions for guest hosts for Chocolate News might be journalist Juan Williams or an even more politically correct choice could be the CEO of National Public Radio Vivian Schiller.  Maybe they could co-host…

Here’s a link to the video of President George W. Bush’s comment:

Here’s a link to a story and video of Comedy Central interview with the President on Huffington Post:
http://www.huffingtonpost.com/2010/10/27/obama-daily-show-jon-stewart-interview_n_775102.html

If you don’t believe that Comedy Central actually had a show starring David Alan Grier called Chocolate News,  then you haven’t been reading your Wikipedia:  http://en.wikipedia.org/wiki/Chocolate_News

(editor’s note:  this particular blog post is not designed to support Comedy Central/MTV/Viacom, but rather it was designed to support David Alan Grier/Chocolate News/Sumner Redstone the man behind the idea that the answer to racism in politics, like the answer to quality tv programming, is to simply give the children more candy – click here for further explanation (parental guidance suggested): http://www.comedycentral.com/shows/chocolate_news/index.jhtml)

For access to a bevy of blog posts relative to the non-racist rantings of Dave regarding the daverageous claim that all political movements are made up of individual people that promote policies that when assembled to create the planks in a platform that can then be promoted by politicians who desire the voter’s collective power click here: http://tradewithdave.com/?s=tea+party

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Like these luminaries and in recognition of our rapidly growing fan base, we’re thinking about changing our name, or at least the name of the website.  Here are a few of the names we are considering.

WhereIsAndrewMaguire.com

WhatHappenedToAndrewMaguire.com

WhyWon’tTheNewYorkPostDoAFollowUpStoryOnAndrewMaguire.com

IsBartChiltonReallyAndrewMaguire.gov

DidAHitManTryToKillOrInjureAndrewMaguire.org

AreMattSimmonsDeathAndAndrewMaguiresAccidentConnected.biz

DoesEvidenceSilverMarketWasRiggedNowProveDaveIsNoLongerAConspiracyTheorist.us  

To read up on why we think that optimizing for search engines is the same as optimizing for searching for Andrew Maguire, read these previous posts: 

On the New York Post story: http://tradewithdave.com/?p=487

http://tradewithdave.com/?s=maguire

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Like Stephen Colbert and John Stewart, in our own small way the folks here at TradeWithDave want to contribute to the effort to restore sanity. This is the spot where we had been planning to post the video intereview of President Obama on Comedy Central’s Jon Stewart’s ~ The Daily Show.  On second thought we decided not to post the video because from what we can see it only restores one thing – Viacom’s stock price through advertising revenue.  Instead we thought we would simply post this video of the man who will make money off of everyone who attends the rally and watches the shows. 

Here is a link to a video from the tv show The View reportedly of a voice mail from the CEO of Viacom/MTV Networks/Comedy Networks/Comedy Central, Mr. Sumner Redstone.  Mr. Redstone makes it very clear that he is not trying to keep fear alive and that he does not intend to kill anyone.

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In what can only be described as a made-for-television prime time extravaganza, the Federal Reserve tells the primary dealers that he wants to use a lifeline…  “ask the audience how much QE2 we need.”  Here’s the story from Bloomberg: http://www.bloomberg.com/news/2010-10-28/fed-asks-dealers-to-estimate-size-impact-of-debt-purchases.html

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Grandpa Jones on Hee Haw answering the proverbial bond investor question “What’s for supper?”

I was reading over the letter from Bill Gross, Managing Director of Pimco, the colossal bond house that probably handles a portion of your retirement whether you know it or not.  The title of his letter is Run Turkey Run.  Bill’s not happy about the Federal Reserve’s plan to increase the supply of dollars circulating in the system because he believes that it will impair PIMCO ability to make money in the bond business.  Here are a few select quotes from the letter and a link to its entirety. 

On politics he’s not happy with the left or the right: “Vote NO to a two-party system that trades promises for dollars and hope for power, and leaves the American people high and dry.”

On the apparent reality of the liquidity trap:  “Perhaps, as a vocal contingent suggests, our paper-based foundation of wealth deserves to be buried, making a fresh start from admittedly lower levels.”

On how PIMCO made money all these years buying bonds: Public debt, actually, has always had a Ponzi-like characteristic.

On what he plans to do to keep his clients happy:  You may not be strutting around the barnyard as briskly as you used to – those near 10% annualized yields in stocks and bonds are a thing of the past – but you’re gonna be around next year, and then the next, and the next. Interest rates may be rock bottom, but there are other ways – what we call “safe spread” ways –to beat the axe without taking a lot of risk: developing/emerging market debt with higher yields and non-dollar denominations is one way; high quality global corporate bonds are another.

He goes onto throw down the guantlet to Ben Bernanke Chairman of the Federal Reserve with this comment:  “The Fed wants to buy, so come on, Ben Bernanke, show us your best and perhaps last moves on Wednesday next.”

After reading this, I can only think of one thing.  Financial reporter Ron Insana is famous for the quote “Don’t Fight The Fed.”  No matter how ridiculous the system of globalized central banks has become, does Bill Gross really think that he can tell the Federal Reserve “Give me your best shot” and not end up being turkey burger based on globally depreciating currencies regardless of his plan to run from dollars.  Good luck outrunning the farmer.  With Pimco’s status as the banner carrier for “new normal” and your associate Mr. El-Arian as the canary in the anglo coal mine, what did you expect.  This is your Thanksgiving dinner.  You sent out the invitations.  You set the table.  Now, your clients are showing up and they’re hungry. 

Here’s a link to the entire letter: http://www.pimco.com/Pages/RunTurkeyRun.aspx

Here’s Bill Gross partner, Mohamed el-Arian’s quote about the demise of the anglosphere: “The global financial crisis has also undermined the standing and credibility of the Anglo-Saxon economic model that emphasizes liberalization, deregulation, interconnectivity, and unfettered markets.” Link here:   http://tradewithdave.com/?p=1439

Here’s what we here at TradeWithDave believe the “new normal” is a code word for… sharia.  It just seems to us that although the idea of “new normal” originated from PIMCO’s Mohamed el-Arian, Bill Gross failed to notice.  Bill may want to consider that as he moves clients away from dollar denominated assets and serves them “safe spreads” that those alternative so-called sovereigns don’t even celebrate Thanksgiving.  Why is that exactly?  What is it that the pilgrims at Plymouth Rock were so thankful for anyway?:  http://tradewithdave.com/?s=sharia

CORRECTION: I just got an email from Ron Insana saying that the correct attribution for the quote would be Marty Zweig; “Don’t fight the fed” and “Don’t fight the tape.”

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We first blogged about the possible JP Morgan manipulation of the silver market on April 20, 2010 and several times since then.  This appears to be the first lawsuit filed against JP Morgan and HSBC for what Bart Chilton of the CFTC referred to as “spoofing and banging.” 

Special thanks to ZeroHedge for this link.  Here’s their report: http://www.zerohedge.com/article/jpm-hsbc-sued-conspiracy-keep-silver-price-low-reaping-billions-illegal-profits

Here’s a copy of the lawsuit filed October 27, 2010.

JPM

Here’s a link to a series of emails from Andrew Maguire outlining how the manipulation occurs: http://www.google.com/imgres?imgurl=http://militantlibertarian.org/wp-content/uploads/2010/03/car_wreck_pic.jpg&imgrefurl=http://militantlibertarian.org/2010/03/28/cftc-whistleblower-injured-in-london-hit-and-run/&usg=__BJ6Xf-BlaH7HlssvlrRMMZ_Tjko=&h=333&w=628&sz=52&hl=en&start=10&zoom=1&itbs=1&tbnid=JSUjrmtDkX79tM:&tbnh=73&tbnw=137&prev=/images%3Fq%3Dandrew%2Bmaguire%2Bcftc%26hl%3Den%26gbv%3D2%26tbs%3Disch:1

Here’s a link to a series of emails written by Andrew Maguire which detail how the manipulation occurs.  Many of them are directed to Bart Chilton.  Take notice of Maguire’s comments that the CFTC investigators did not know what to look for: http://www.google.com/imgres?imgurl=http://www.icmj.com/UserFiles/file/201005/07-email-from-Andrew-Maguir.jpg&imgrefurl=http://www.icmj.com/article.php%3Fid%3D832%26keywords%3DMetals_Trader_Blows_the_Whistle_on_Gold_%26_Silver_Price_Manipulation&usg=__sOpDgJ1Iwo93QQN93mwhfpckUrE=&h=479&w=400&sz=111&hl=en&start=21&zoom=1&itbs=1&tbnid=P2gKTUd0cx4ATM:&tbnh=129&tbnw=108&prev=/images%3Fq%3Dandrew%2Bmaguire%2Bgata%26start%3D18%26hl%3Den%26sa%3DN%26gbv%3D2%26ndsp%3D18%26tbs%3Disch:1

Here’s a link to several of our previous posts on this topic: http://tradewithdave.com/?s=andrew+maguire

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Photo International Monetary Fund

“Countries have a number of policy options in their toolkits—lower interest rates, reserves accumulation, tighter fiscal policy, macro-prudential measures, and sometimes capital controls.”  Dominique Strauss-Kahn, Managing Director – International Monetary Fund

In his October 18, 2010 speech titled “Macro-Prudential Policies – an Asian Perspective” Mr. Strauss-Kahn offered up this advice to countries who may be the desired destination for the hot money on its way out of the U.S. Treasury c/o the Federal Reserve.  You cannot fully understand the meaning of “macro-prudentialism” (think of a beneficial grandparent’s concern for the grandchildren) until you understand who is wielding “MackHeath’s jackknife.”  As the lyrics sung by Bobby Darin so clearly explain; “Fancy gloves, though, wears old MacHeath, babe, so there’s nevah, nevah a trace of red.”

What exactly are the fancy gloves?  They are macro-prudentialism, or the lie that you are supposed to believe that a central banker for some reason has your best interest at heart… everyone’s best interest at heart for that matter.  They’re macro… looking out for everyone systemically and they’re prudential… you know like the rock of Gibraltar… protecting and providing for you… like Prudential Insurance Company.   

What’s the jackknife?  Oh, they keep it out of sight just like old MacHeath and let the governments do the dirty work of capital controls designed to protect their economies from the rapidly expanding bubbles of hot grease bouncing off the griddle of quantitative easing and the hot money that will flow like pancake batter across emerging economies.  Not sure what a capital control is?  Think of the ultimate capital control this way.  You go to get your money out of the bank and the door is locked.  That’s an extreme example.  Another example is taxing the purchase of foreign currencies when it is done using U.S. dollars.  Another example would be China being arbitrarily limited in their purchasing levels for U.S. Treasuries. 

Regardless of what supposed soverign governments choose from the capital controls breakfast buffet, there is a huge problem for investors.  The decisions of governments come down arbitrarily and in unexpected and impossible to anticipate ways.  This creates a shock for the markets and increases volatility because markets are unable to know for sure exactly at what “macro-prudential” level such capital controls will be enforced.  This is how you go to bed in a good position and wake up in a disastrous position due to some decision made by a government.  But since the money never sleeps for the central banks, volatility is their friend. 

Not everyone goes along with the plan.  Take Germany for example.  They stood up to the “ol’ Macky” macro-prudential highway robbers and have greatly strengthened their position while putting the entire future of the Euro as a currency in doubt.  We are being led to believe that the running of the global economy is either a team sport (ala Rodney King can’t we all just get along) or a net sum game (ala Angela Merkel’s my way or the highway approach to BMW sales).  In reality it is probably neither.  I have my own ideas on what song lyrics will resonate with the global choir of humanity.  But in the meantime, if you don’t want your finances to end up like Bobby Darin’s proverbial body on the sidewalk oozing life.  I would suggest you do one thing… Look out… old Macky is back!

Here’s a link to the entire text of the IMF speech:   http://www.imf.org/external/np/speeches/2010/101810.htm

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In less than two years, it would appear (if you agree with Dylan Ratigan and Karl Denninger) that the Tea Party has gone from non-existent, to a raging bonfire and finally settled in as one of those fake fireplace inserts that you see  at Home Depot with the little fake flames flapping above the fake logs (they do look almost real).  Becoming big and becoming watered down would seem to be the American way.  What do you think about property rights and the nationalization of commerce?  Here’s some food for thought, but as always consider the source. 

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