Wednesday, May 30, 2012
Musical chairs, it's not a kids game anymore
You might have thought this game went away after you hit 7 or 8 years old but it's going on right now as we speak. You would have thought the rules were fixed after the Wall Street boys blew up the economy back in 08 but nothing could be farther from the truth. The game is on and just like the kids game somebody is going to land up a loser only it won't be anyone from Wall Street or even anyone from the foreign exchanges. It will be all the unknowing investors with their nest eggs in retirement funds the world over. The music is still playing but the record is about to get to the end. The same short selling hedge funds and derivatives are in play just like the last time. All waiting for Greece or Spain or Italy to get flushed down the financial toilet of history. Only there's not enough money in the world for a bail out this time around.
I don't have enough space here to explain exactly what's happening in detailed terms so I give you: Meltdown 2.0
You will note that the Dow was up today. It's as if the players ignore the fact that the casino is on fire and continue to play with fervor hoping that they'll be able to cash out their chips before getting burned to death. They might think they can make it except the cash out window won't be there either when it's time to trade in the chips. And people wonder why safes are selling so well.