The Coming Economic Collapse And The Next Great Depression

The Coming Economic Collapse And The Next Great Depression
The forgotten man painting by McNaughton (click image for video) I believe this image best exemplifies where we stand today, pun intended.

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Tuesday, December 13, 2011

1. Is it a sin to watch evil men turn on each other and enjoy it? Can I indulge just a little schadenfreude? Pleeeeease? The boys at the Merc must be finally starting to realize the irrevocable damage that has been done. Corzine, his eunuch man-slave Bradley Abelow (President & COO) and the South African man-child, Henri Steenkamp (bat boy & CFO) testified - check that - lied and bee-essed their way through another round of utterly inept senate questioning today. I don't think one intelligent, useful, probing, informed, incisive question was asked of any of them all day.

The last panel was the CFTC chick (TOTAL affirmative action hire. Sommers should be fetching coffee and making copies for people who actually understand the business.), Giddens the bankruptcy trustee, and Terry Duffy from the Merc. Well, ol' Terry is no doubt watching real volume at the Merc dry up before his very eyes, and FINALLY threw Corzine under the bus. Apparently one of the Merc's auditors was told directly by a high-level MF employee that Corzine knew all about customer seg funds being sent to counterparties via the broker-dealer wing of the company, and the Merc was further told by MF employees to stop looking for an accounting error, as the customer seg funds were raided and sent to MF's counterparties on their proprietary trades. Duffy set Corzine and his boys up for a perjury charge. Oh, wait. Nevermind. I forgot. In order to have perjury, there has to be a rule of law. Silly me.

Oh, and Terry, it's too late for you and the Merc. When you made the brilliant decision to lock the MF customers out of their accounts FOR AN ENTIRE WEEK, you ate your nine. You can't come back from that. It's been over since November 1st. Everything else is just academic. Decisions have consequences, Terrence.

Interestingly, when Duffy threw Corzine under the bus, all that happened was that the grease from Corzine's filthy physical person caused a momentary loss of traction on the rear axle of the bus. There was a wee fishtailing, but nothing more. Apparently a net worth in excess of $400 million does not translate into good personal hygiene. Corzine's hair is so greasy that it darn near drips. You can smell his filthy b.o./Axe Body Spray stench THROUGH THE INTERWEBS. I guess you can take the scumbag out of Jersey, but you can never take the Jersey out of the scumbag.

2. I literally started screaming when the Arkansas doofus asked one of the members of the first panel, which was comprised of farmers and agriculture professionals, if they realized that risk was part of the futures market. This jarhead literally didn't know the difference between MARKET risk and risk of having a scumbag steal your money out of your account and sending it to Europe.

3. The Fishwrap of Record has a piece today citing MF employees who say that Corzine was so heavily involved in personally trading the house accounts of MF that he would literally sit in meetings and trade on his Blackberry, and would be constantly running in and out of meetings to check the markets. Good grief this guy is pathetic. CITATION HERE.

4. Oh, and as expected, we now have both Soros AND J.P. Morgan getting uber-sweetheart deals on buying up the remnants of MF, specifically Italian sovereign paper. ZeroHedge posted a story today showing that JPM bought some of MF's Italian paper at fully 5% below market price at the time - 89 vs 94. That difference is a HELL of a lot of money that could have and SHOULD HAVE gone back into the MF estate and then out to the MF customers. Oh, and it is also wicked illegal. MF sold $2 billion in this same Italian junk paper to none other than Soros. I'm telling you, it does not require any sort of tinfoil hat to see what is going on here. Corzine scuttled the company with the blessing of the Obama regime and Holder Justice Department in order to effectively launder money to Soros and J.P. Morgan. This is why Corzine is testifying before Congress. He knows that he will never be prosecuted, so he isn't worried about "self-incrimination" or perjury. I also expect the Squid (that's Goldman Sachs, y'all) to make a similar appearance as a beneficiary before it is all said and done.

5. Now a quick shout-out to my atheist readers who are here reading me, and just can't resist, but are soooooo pissed off because I can't get through a single post without getting all pew-jumpin'-for-Jesus up in here. Yeah. Sorry to bust your little bubble that all Christians are witless, humorless, slack-jawed mouth-breathers. Alas, you have prided yourselves all this time on being free thinkers, but it turns out that you too have fallen for the propaganda, just like good little sheeple.

But I propose a momentary truce wherein we come together and relish in this very, very humorous situation. Gentlemen, consider this: who is one of the most publicized people tearing these degenerate jackals a new one, publicly shaming them, and doing it BY NAME? Who is it that is blowing open the whole sordid mess and rhetorically exposing the reality of this situation in the blogosphere? Who is it that is FINALLY calling these thieving low-rent carney hacks out as the psychopaths that they are? That's right. It's a chick, (former) one-man IIB, specializing in commercial hedging of cattle and grain (Hicksville, right?), who has a redneck little website wherein the Lord's Prayer is posted on a near-daily basis, and there are essays on Christian theology.

Okay, you know how much that pisses YOU off, Mr. Atheist Reader. CAN YOU IMAGINE how pissed off THEY are? I mean, really. Can you think of a more thoroughly humiliating person for these Demon Squid Spawn to be ruthlessly dressed-down and called out by than ME? Little pew-jumpin'-for-Jesus cattle IIB girl? Mwah-ha-ha-ha. What this proves is that God does exist, and He has an absolutely SCATHING sense of humor. YOU GOTS TO BELIEVE!!!

Now go pour yourself a bit of smooth, tawny port, and let us together, in solidarity, raise our glasses to the sense of humor of "My Friend In The Sky", as you call Him.

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