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Blog Archive

Thursday, October 21

Bronx, Knives out over Real Estate

Hey Bronx NY, get ready for a big
gang fight over real estate. At the center of the foreclosure mess lies
a giant fraud, the fraud of securitization. Through
securitization, an enormous bubble of fictitious financial values
was created, one many times the values of the assets upon which
these securities were supposedly based. This was not a problem on
the way up, as all the speculators were happy to grab a piece of
the loot, but now that the bubble has popped and the speculators
themselves are taking losses, they're changing their tune. The
dynamic reminds one of a pack of hyenas that grew large in number
when the food was plentiful, suddenly faced with adjusting to a
shortage. Without enough food to support them all, the hyenas
turn on each other, each in its own struggle to survive. Some
make it, some don't. Yesterday you were a valued member of the
pack; today, you're lunch.

Monday, October 11

Obama Gonna Go Before the November 2010 Elections?

Obama is crazy and could be forced out. With that departure of Rahm Emanuel, and the likely departure soon of his two top deputies, Phil Schiliro and Jim Messina, the White House has been turned into a real kindergarten. Obama is now surrounded with less-than-competent people. On Friday afternoon, General Jim Jones, the National Security Advisor, also announced his departure. He was immediately replaced by Tom Donilon, his deputy. Donilon is a former Democratic Party political campaign operative, whose biggest claim to fame was that he stuck that helmet on Michael Dukakis' head and threw him into a tank, during the 1988 Presidential campaign, thus assuring the Massachusetts Governor's landslide defeat by George H.W. Bush. Obama could be forced out, as insane under the provisions of the 25th amendment to the Constitution.