The news and financial channels (not really the same thing are they) are filled with talking heads about how Obama is going about this the wrong way. How he is starting class warfare.
They are even pretending he started this somehow. By magic. Because he is so powerful that as soon as he won Iowa the world economy was under his spell.
These are the same people that cheered on the decisions that made this collapse happen.
They cheered on an obviously out of control market. They espoused the idea that home prices never fall.
And now we are supposed to be listening to them.
Heck you might as well listen to me.
1) The Dow Jones industrial average (please why not just say the Dow Jones Antiquated Industrial Age Average) will hit bottom on April 7, 2009.
2) Citibank and BofA will be seized and the share holders will be wiped out. All the bad assets will be put int a "bad bank" that the government will own while the other businesses will be split apart and sold separately. In the end there will be over a dozen publicly traded companies along with the bad bank owned by the government.
3) When the economy up ticks the assets in the bad bank will be sold at auction. Because the economic climate has improved the assets should net the government billions, and yet somehow all the monies will be paid to the auction house in administrative costs. The auction house will be a division of The Carlyle Group created just for this auction.
How do I know this? I don't. I just made it up.
So can I appear on CNBC yet?
Now for someone who actually knows of what he speaks:
Zombie financial ideas - Paul Krugman Blog - NYTimes.com
- rob 1:07 PM - [PermaLink] -
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