Belmont Club

By Richard Fernandez

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Terra incognita

March 4, 2009 - 4:07 pm - by Richard Fernandez
Mongoose
2009-03-05 12:16:00

Dow 6,643.82 -232.02 (-3.37%)
S&P 500 686.43 -26.44 (-3.71%)
Nasdaq 1,311.69 -42.05 (-3.11%)
10y bond 2.84% -0.03 (-1.05%)

Well, we are being attacked by our own government.

Another coupled of days of this and we are going to see a complete collapse.

If I were Obama, I would just get on the tube and announce tax relief (Particularly corp and payroll), regulatory relief, and a hold on spending and his whole agenda (including the Global Warming bit). And I would, of course, mean it. We are reaching the point of no return. Even though he would not deserve it, he would look like a hero.

The fact that he does not, nor that the government seems to feel the slightest pressure about what is happening, seems to remove all doubt that he is out to destroy this country and replace it with a communist structure.

That is not to say that he will know what to do when that happens. This is wealth destroyed. He just cannot print more money to replace it.

Did any one see that Citigroup fell below a dollar today?

I think that Denninger may have some reason for being upset. We are almost at the abyss, and we have a Sec. of Tres. yammering on about AGW.

None of this needs to be. It is almost entirely fabricated.

To fix it means that the idiots that caused it have to take their lumps. Instead we get a cut in the withholding amount, not the tax, just the amount. It is insane.

Who sent him?