By John Galt December 19, 2008 Window #1: December 19 to December 31 GMAC bank bid fails. This requires and additional bail out for Cerberus and GM to prevent a complete collapse in Chrysler and GM. If the GMAC bank bid fails and they file for bankruptcy, whatever funds provided to the automakers before Christmas will be irrelevant as the car makers lose their financing arms and no banks will step forward to bail them out due to the horrid holdings in GMAC’s portfolio. This…
Monthly Archives: December 2008
When Argentina Calls Us a Banana Republic
By John Galt December 16, 2008 Prevailing wisdom on the morning of December 16, 2008 was that I would wake up, watch Bubblevision, drive to Vero Beach, FL, visit my accounts and today would be a non-eventful sort of financial market kind of day. The Federal Reserve was supposed to mark the Fed Funds Rate down to 0.50%, the Bureau of Labor Statistics would issue a report after consulting with Tinkerbelle for guidance, and CNBC would not have any kind of stroke other than Booyah…
The Cure to the Depression of 2008
By John Galt December 10, 2008 Sometimes you have to accept the premise that being the “first” in some things is not always the best. President-Elect and Grand Poobah of the United States, His Honorable Eminence, the Almighty Supreme Leader, Barrack Huessein Obama has the privilege of being the first black President of America. With privileges, come problems as he is now discovering thanks to twenty years of irresponsible banking and financial policies by his predecessors in that office, the Legislative Branches from this period,…
The Toilet Paper Survivalist
How I Became a Survivalist and Remained Squeezably Soft By John Galt December 3, 2008 In the great year of 1999, I was prepared to hunker down in my humble home with my wife and critters for the end of the world as we know it (TEOTWAWKI for all you still learning the lingo). I was cushioned by my vast supplies of rice, beans, canned foods, guns, ammo and the one thousand rolls of toilet paper which I insisted would save our lives one day.…
Citi of Death
By John Galt December 3, 2008 The much heralded return of bailoutmania was greeted with much ceremony and celebration by the hogs as they were fed their slop by the Fed. So with that much celebrated Sunday evening in November now near and dear to our hearts, let us review a little history as to how Citigroup ended up being the latest in the line of horror to befall the American taxpayer and why the numbers being tossed around by the Federal Reserve are one…
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