.
January 3, 2010
SouthAmerica: My crystal ball still is very foggy these days, and I would be lying to you if I told you that I understand how it works the new economic system adopted by the United States in 2008.
It is very hard to make any intelligent predictions when today we have a new economic system adopted here in the United States based on stock market manipulations, massive U.S. government intervention and nationalization of major sectors of the US economy.
The American financial system has become a real Fools Paradise.
Today the US taxpayer is banking Wall Street's gambling addiction and risk taking, but if the bets are profitable Wall Street keeps the wins â if the bets are losses then the US taxpayer foot the bills to the tune of trillions of US dollars.
Basically since 2008 the US taxpayer has become the last SUCKERS of the scams run by Wall Street.
Nomi Prins author of âIt Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street" â she was a former employee of Goldman Sachs â She estimates that bailouts of Wall Street gambling and leveraged risk taking, bank rescues and other economic lifelines could end up costing up to $ 23 trillion US dollars to US taxpayers.
You donât need to be a rocket scientist to figure out that this house of cards canât go on indefinitely into the future, and that at a certain point we are going to have a massive meltdown.
It would be a waste of time making predictions for a market that is heavily manipulated in many ways, including an artificial financial system based on US government intervention and massive give ways â based on US government subsidies for people to buy cars and foreclosed properties â based on Mickey Mouse accounting system to keep the financial system afloat and so onâ¦
*******
The only prediction for 2010 that I can make is based on my gut feeling:
Brazil will win the 2010 World Cup Tournament in South Africa.
.
January 3, 2010
SouthAmerica: My crystal ball still is very foggy these days, and I would be lying to you if I told you that I understand how it works the new economic system adopted by the United States in 2008.
It is very hard to make any intelligent predictions when today we have a new economic system adopted here in the United States based on stock market manipulations, massive U.S. government intervention and nationalization of major sectors of the US economy.
The American financial system has become a real Fools Paradise.
Today the US taxpayer is banking Wall Street's gambling addiction and risk taking, but if the bets are profitable Wall Street keeps the wins â if the bets are losses then the US taxpayer foot the bills to the tune of trillions of US dollars.
Basically since 2008 the US taxpayer has become the last SUCKERS of the scams run by Wall Street.
Nomi Prins author of âIt Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street" â she was a former employee of Goldman Sachs â She estimates that bailouts of Wall Street gambling and leveraged risk taking, bank rescues and other economic lifelines could end up costing up to $ 23 trillion US dollars to US taxpayers.
You donât need to be a rocket scientist to figure out that this house of cards canât go on indefinitely into the future, and that at a certain point we are going to have a massive meltdown.
It would be a waste of time making predictions for a market that is heavily manipulated in many ways, including an artificial financial system based on US government intervention and massive give ways â based on US government subsidies for people to buy cars and foreclosed properties â based on Mickey Mouse accounting system to keep the financial system afloat and so onâ¦
*******
The only prediction for 2010 that I can make is based on my gut feeling:
Brazil will win the 2010 World Cup Tournament in South Africa.
.
