Funny, in a. . . we are so screwed kind of way. . .

Democracy Threatened by Bankster Fraud and insane fiscal policy. . .

All I can say is will you, Americans, please wake the hell up!

The IMF warned this weekend that a second bailout would "threaten democracy":

Dominique Strauss-Kahn told the CBI annual conference of business leaders that another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy.
"Most advanced economies will not accept any more [bailouts]...The political reaction will be very strong, putting some democracies at risk," he told delegates.

I hope you're prepared for that, because our government has intentionally lied its way through this mess so far.  We have refused to force those who are holding paper at well above its actual value to recognize their losses (and indeed have made such a policy via accounting changes!), we have allowed The Fed to monetize $1.5 trillion dollars in bad paper (into which The Treasury immediately issued more debt in order to fund giveaways of various sorts, thereby instantly destroying any beneficial aspect that this program would have otherwise had), and we still have literal hundreds of trillions of "off exchange" derivatives with no accurate accounting of where the net exposure resides or in what amount it exists.

Pass the Koolaid. . . .

This from the Market Ticker and Bloomberg:

Someone has figured it out.

“We cannot spin a positive story from the fact that a third-of-a-trillion dollars a week is trying to lock down Treasury bill yields of less that 0.05 percent,” Bianco said. “There is still tremendous demand for the front end of the curve despite the fact that people are saying things like there is no yield there and that cash is trash.”

Strauss-Kahn Says Half of Bank Losses Are Undisclosed 

$300 billion worth of "someones" - per week.

Let's cut the crap.  The IMF has (correctly) surmised that there will be no ability - politically or fiscally - to fund another bailout.

The IMF has also (correctly) surmised that only half of the losses necessary to take have been realized, with the rest being papered over by government malfeasance, accounting chicanery and outright fraud.

Now you might try to make a case that "the worst is over" and "it will all be good, we're recovering in the economy", but to do so you have to explain where the money is going to come from to absorb the other $1.5 trillion in residential real estate loan losses along with how we're going to prevent the MBS on The Fed's balance sheet from detonating - and we haven't talked about the commercial real estate lending market yet.

Have another glass of KoolAid folks - it's grape-flavored, mixed by someone named "Jones" and tastes great!

T-bills ZERO as stocks still appreciate.  This cauldron mix is toxic.   Does 1938 come to anybody's mind?

“At some point reality is going to bite us in the backside,” said Michael Cheah, who manages $2 billion in bonds at SunAmerica Asset Management in Jersey City, New Jersey. “We are living in the best of times and the worst of times. Unfortunately the best of times cannot continue celebrating like this when the economic fundamentals are worsening rapidly.”


Hang on folks,  the ride gets bumpy from here.

These frauds should keep their mouths shut and humbly ask for forgiveness!

Climate Change Advocate Calls E-Mail 

Hacking Appalling

 Scientist claims documents stolen from a British research institute may be aimed at undermining talks at next month's Copenhagen global climate summit.

 

Reeeeeeeaaallllllyyyyy?! . . . . . . .

 

Skeptics claim correspondence shows collusion between scientists to overstate the case for global warming.

Trenberth says the hackers took data out of context.

Want to know more???   You bet you do!   Click here.

 Oh,  you mean kinda like the whole Global Warming FRAUD???

Yeah,  yeah,  like that!

This is good as it gets on Global Warming. . . .

This is a It's a stellar interview. Funny thing. . . funny in the ironic way not the ha ha way. . . Michael Crichtdon graduated Harvard Medical School, was a published scientist, and was a fellow at the Jonas Salk Institute before becoming a Hollywood writer/producer. In other words, Michael Crichtdon is like the 900lb gorilla in Al "the fraud" Gore's little world. Al Gore and the entire accepted Global Warming dogma of man-made global warming (AGW) is obliterated.

Actually, I'm waiting for Al to start damage control. You know, how he was hoodwinked and lied to. Yeah right. Who exactly did he have advising him here. Big Bird? He stood to make BILLIONS; Through his Carbon Credit companies, on this huge lie and now, well that is probably up in the air as well as his future freedom. This guy hoodwinked the world. I sure hope someone can come up with some appropriate consequences. I can only hope. . .