"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey
Who are these idiots giving opinions on the financial channels? How many times over the past 90 days have were heard we are facing threats of a Great Depression?
All of this "Chicken Little" stuff is meant to keep you from investing when prices are low. At DJIA 14,000 they were screaming buy, buy, buy! You do remember these catches phrases at the top of the market don't you;
-Goldilocks Economy
-Soft Landing
-The Resilient Consumer
-"Points above new all-time high" on your TV screen.
-Valuation models suggest stocks are too cheap to pass up at these levels.
The one that takes the cake is "CNBC's- Erin Burnett" reading from the teleprompter saying "move over Goldilocks- Economic Nirvana", along with Jim Cramer telling you to buy.
Here are a few thoughts;
- Great Depression huh, we can't get anyone associated with the our government to admit that the economy is in a recession.
- The rescue package will be passed. Members of Congress want to go back home and campaign for re-election. They will not be re-elected if they don't pass the rescue package.
- Goldman Sachs will be bought by a commercial bank? I seriously doubt that this will happen. More than likely they will buy a bank like Wachovia, CitiGroup, or someone else. Goldman has too much political influence to go down the same path as Bear Stearns, Lehman, Merrill, and Morgan Stanley.
- Glass-Steagal has been destroyed. Now the lines separating investment banking and commercial banking no longer exist.
BAC & MER
WB& A.G. Edwards
UBS & PaineWebber/ J.C. Bradford
C & Smith Barney/Solomon Brothers
RF & Morgan Keegan
MS & Dean Witter
GS & ???
What the public needs to understand is the new banking system is being designed to fit into the new International Economic World Order- synonymous with the New World Order.
In 1979, Barry Goldwater wrote;
“The Trilateral Commission is international and is intended to be the vehicle for multinational consolidation of the commercial and banking interests by seizing control of the political government of the United States.”
