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Stock Ideas Investors Daily Edge Osama bin Laden – a guy who merely hopes to wreck the US economy
Stock Ideas Investors Daily Edge Osama bin Laden – a guy who merely hopes to wreck the US economy 
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By Rick Pendergraft Dear Reader, "Economists have correctly predicted nine of the last five recessions." Paul Samuelson, Economist In a radio interview last Saturday, the hosts asked me if I thought we would head into a recession in 2008. I answered that I didn’t think so; I think we see a slower economy, but not an all-out recession. |
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| Osama bin Laden – a guy who merely hopes to wreck the US economy |
| Saturday, 20 September 2008 | ||||||||
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Next month’s US unemployment numbers will likely add a fresh 15,000 to 20,000 people to the jobless ranks.Wall Street will take that as a sign of a weakening economy. But it’s not. The numbers will represent an ironic one-off bump. They’ll be inflated by the thousands who’ve lost jobs on Wall Street thanks to the actions of the traitors who led US investment banks. And, yes, I know we’re only supposed to use the word traitor when talking about someone who openly questions President Bush’s foreign policy… because publicly decrying the attack on Iraq gives aid and comfort to the enemy. But, tell me, do you really believe that no one in a position of authority knew the outrageous investment risks that were taken by US investment banks, insurance companies and at state-owned enterprises such as Fannie Mae and Freddy Mac. If you actually believe that, then you’re also telling me that the very top echelons of US business and government are illiterate, as well. And, thus they were unable to read Warren Buffett’s scathing comments about the hyper-leveraged and reckless risks in which the financial industry was engaged. If Osama bin Laden is America’s most hated and dangerous enemy because his stated goal is to bring the US economy to its knees… What does that make the US citizens, whose personal greed and avarice, actually accomplished bin Laden’s task? Enemies of the State – those citizens who attack from within – are called traitors. And, it doesn’t matter that they think they are simply crony capitalists, with friends in very high places. You see, all traitors have two things in common – the price at which they can be bought and the twisted logic by which they justify their betrayal.
So, the big question is, if the US started two wars over Osama bin Laden – a guy who merely hopes to wreck the US economy – how does it go about dealing with the people who maliciously got the job done? What war will the US make on the CEO’s and boards of directors at companies that purposely knifed the US economy… eviscerated it so they could become billionaires instead of multimillionaires… which when you think about it is a less honorable motivation than what leads a prostitute to turn a $10 trick. So, now all we have to do is wait to see what penalties and what reparations these traitors will be forced to pay. In fact, we are using your money and mine to actually pay them, as in bail them out… all on the excuse that covering their traitorous asses is good for the country? What’s next… rapists have to marry the victims they impregnate so the kid won’t grow up in a broken home? Just Say You’re Sorry And, finally, one last thought on the traitorous-gamblers-disguised-as-bankers mess. Memo to Sen. John McCain: Sir, until you apologize for your part in this financial tragedy – maybe even tell the truth about your son’s failed Silver State Bancorp and your own part in the S&L crisis – shut your pie hole on this one. Right now you’re doing great. People believe your lies and they do not believe Obama’s lies. So, let sleeping dogs lie. Otherwise, all your faux anger and bluster might lead more writers than just little old me to recall that you had a big hand in laying the foundation for the US’s current financial crisis. Talk about elitism. You actually believed that crap about how well-educated, wealthy people were made of better stuff. That in a deregulated society, business leaders with Ivy League degrees would shun the more base elements of human nature and act honorably and in the best interest of the country. Personally, I think you were naïve – human nature is a powerful thing. Come on, back in the day you were the 43-year-old married guy with the 23-year-old mistresses… you even married one of them. What was that about? And, your service in Vietnam should have taught you how badly men treat fellow men – how human nature so often brings out our darkest beliefs. Yet, there you were in 1999 a big time supporter in a Republican led congress that passed veto-proof legislation that tore down depression-era legal walls that separated commercial banks, investment banks and insurers from one another. You happily stood by as President Clinton, a Democrat, signed it into law. In fact, with the exception of supporting both HMO regulation and background checks for people who buy weapons at gun shows, you have vigorously supported a GOP ideology that insists on cutting federal regulation of industries in the name of promoting free markets and ending government interference. By the way, how’s that government interference thing working out these days? Pretty cost effective huh? As the old saying goes, if you’re not part of the solution, you’re part of the problem. Today, your rhetoric suggests the former, but your record suggests the latter. You want me to believe that you’re sincere about fixing this mess in a way that benefits regular guys like me, then start with, “I am sorry, I was wrong.” That’ll do it for me this week. See you next Saturday. By then, I suspect that the end will actually be near. Things will begin to stabilize because the CEO’s of Bank of America, Wachovia Bank, and the Bank of Uncle Sam will be the three most powerful men in America… just eight years ago that might have meant the world, too. Andy P.S. To let me know what you thought of today's article, send an e-mail to: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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