Its only money....

Sunday, Oct 12th
1700 hrs

The more I learn about this whole financial mess, the
more revulsion I feel. I'm looking at all this with
true wonder.

- Now the government is going to buy stakes in a whole
slew of financial institutions. Great. Of course, the
banks warned that the Treasury should not squeeze out
current shareholders and also should not place restrictions
on executive pay. Fine! Mr. Paulson, of course, heeds those
please and comes up with idea that the Treasury will buy
"non voting" shares in the companies. Go figure!

- Coordinated capital injection or not, this crisis will get
worse before it gets better. Many a state in the US will
whittle down services that cannot be maintained in the face
of collapsing property values and taxes. There is now the
start of a rapid collapsing in private sector wealth and
its only a matter of time before it will be felt in the real
economy.

- Don't be fooled by a rebound (if we have one) in the equity
markets. We are in full on deflation mode. True, it may be
hard to make an apples-to-apples comparison of the two economies
but I do believe we are in "Japan mode" and things that will
transpire now will transpire...a lot quicker.

- I remember reading on some website time that here in in New
York, we've run out of room on the National Debt clock. Bush's
tax cut during a time of War is perhaps the only time in economic
history where such a thing has transpired. Now, I don't want to
make this a political forum but I've been spending some time
learning about Sarah Palin - its very very scary that we could
even consider this lady to become VP of this place. Here's someone
that looks upto Cheney and thinks Reaganomics is very cool. Our
debt is $10 Trillion, the cost to service it is $300 Billion a
year.

After all, its only money! Pop the Champagne!! Yes, Rose' only.