Paul Volcker - The Banking Changes Proposed Are Like A Dimple. More Like A Pimple On The Ass Of Society Put There By Profligate Pimpled Politicians.
Needless to say, with our incessant rantings about enormous risks and lack of real regulatory reform, I agree with Mr. Volcker.
Volcker remarks that banks have driven us close to a depression. The reality is the world is already in a depression. Something we said would happen while the world's leaders and bank mobsters were giddy with the new era of Pax Globalia - a complete illusion built by elitist idiots. I have used the term Pax Globalia repeatedly since starting this blog and it is more than perfectly appropriate. Because following Pax Romano came a world of severe volatility. A world of severe volatility has been and remains one of our major themes on here. Don't be fooled by this low volatility environment we are now experiencing. The first volatility tide has receded and the tsunami wave will return with a vengeance and it will take no prisoners.
The U.S. is one of the few countries who can get out of this very, very rapidly with the right policy. A position we have remarked of on here for a long time. We'll eventually tie all of our major posts from the last four plus years together and share how easily this could be accomplished. But, as I have stated for quite some time, I am in no hurry because the elitist boobs running our country are so incompetent that I have plenty of time. Plus it continues to let me put up more and more posts supporting my positions while the media, politicians and other bloggers continue to stick their foot deeper into their mouths about how this is simply a recession, how the banks have recovered, how the economy is recovering and how the U.S. must be doomed because of its massive debt load.
I sort of view this whole process as a little healthy market-based competition. And it's my goal to win the financial olympics as the top blogger or financial commentary when it comes to anticipating the most global outcomes over this cycle. And eventually how to fix it. My Ouija board is still very active and there is lots more to cover.
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