To steal a line from my good friend Walter Map, "They're crunchy and taste good with ketchup!"

~~~~~~~~~

You will eat multiple trillions of dollars from each of the following: (1) The phony War on Terror; (2) the loss in real estate values caused by record inventories that will be created by defaults and foreclosures resulting from rampant unemployment, loan fraud, over-leveraged consumers and ARM and Option ARM resets; (3) the combined bailout of Fannie's and Freddie's share of the toxic waste contained in the approximately half of all US mortgages which these cess pools have made or insured, plus the losses from the Resolution Trust Company II bailout of the toxic waste from the remaining half of US mortgages; (4) the shortage in the FDIC's insurance reserves that will be generated by losses incurred on account of what will be anywhere from 1,000 bank failures, as suggested by billionaire Wilber Ross, to perhaps as many as half of all banks in the US, as recently suggested by Ken Lewis, CEO of Bank of America; (5) the PBGC's funding shortage to cover losses suffered by pension plan beneficiaries on account of pension under-funding caused by what will be the loss of as much as half of the value of all US equity shares; (6) the bailouts likely to occur when the credit default swaps and interest rate swaps, along with the entire bond market, go under in what will be the greatest bear market of all time in both bonds and derivatives, which are guaranteed to occur based on the hyperinflation that will be caused by all the other bailouts just listed, as well as by our continually burgeoning budget and trade deficits, the resulting double digit interest rates which will become necessary in order to combat inflation and to properly reward risks, which are about to escalate in astronomical fashion, and to attract foreign investment, which will soon drop to nil based on negative rates of return; (7) the loss in purchasing power due to hyperinflation generated by 1 through 6 above; and (8) the new wars for profit that will be started in order to restart our vaporized economy in the wake of the death and destruction caused by 1 through 7, above, and you can also add in the costs associated with potential social unrest and revolution that are almost certain to occur. When number 6 above comes to fruition, the entire world economy will implode and go into deep depression. None will escape the coming juggernaut of losses when the glowing, quadrillion dollar Derivative Death-Star goes supernova. The entire world economy will get sucked into the resulting financial black hole. (MORE)

http://tinyurl.com/5y6gba

Aloha from lovely Hawaii, my friend.

Indeed, this is all part of the plan of the evil bastards.

From the piece I just posted:

The House Finance Committee, headed by Rep. Barney Frank, and the Senate Finance Committee, headed by Sen. Christopher Dodd, will give it their usual Boo-Boo, response: "I don't know, Yogi," in order to give the clueless sheople the appearance that they are going to protect taxpayers from the slimy bankers, when the reality is, it is already a done deal and has been planned long in advance, probably for many months, if not years, just like the Patriot Acts. What you are seeing happen right before your eyes is the revenge of the Illuminati for the passage of the Glass-Steagall Act. Not only have they repealed that act, but now they have reverted our system back to the way it was when the Stock Market Crash of 1929 occurred. This is why Bank of America jumped all over Merrill Lynch, and why you are hearing continual overtures for Goldman Sachs and Morgan Stanley to do the same, with claims that their business models are flawed. The fane-stream media now tells us that we need such combinations to give our financial institutions greater strength and staying power in the face of a crisis, when it is such combinations that are responsible for creating the crisis in the first place. This is the classic Hegelian Dialectic on steroids: first create the crisis, and then propose the predetermined solutions, stuffing them down everyone's throats, if necessary. If you want to see institutions that will automatically be deemed to be too big to fail the next time they defraud the public, just check out the gargantuan financial behemoths that will emerge out of the current crisis!

http://tinyurl.com/5y6gba

re: "Hyperinflation will not occur"

* Inflationary Recession Is in Place

* Banking Solvency Crisis Has Opened First Phase of Monetary Inflation

* Hyperinflationary Depression Remains Likely As Early As 2010

http://www.shadowstats.com/article/292

Have a nice day.

I think your idea of going into the pike business is a good one.

Since the U.S. Government -- you and I -- are taking over the banking system, does that mean that if we now default on our mortgage or credit card debt, the bank can't do a thing, because we own the bank?

This is getting complicated.

The election is now a moot issue. Either candidate will be totally hamstrung by the financial crisis, which is only going to worsen with the boneheaded $700bn bailout/handout to Wall St. Congress is about to hand over absolute power to our new Führer und Oberster Befehlshabe, the Secretary of the Treasury.

Heil, everyone.

As it happens, the bill for the stability and protection that the U.S. and it's Treasury, State Department and Military have provided the entire free world since WWII precisely equals the U.S. National Debt.

Time to pay up, world, or we'll foreclose on the lot of you.

He promised way back in 2000 that he would be a uniter, not a divider.

Now, the right wing hates him as much as the left!

Heckuva job, Dubya.

"The real economic side of this financial crisis will be a severe US recession."

-Nouriel Roubini

The word is DEPRESSION, Mr. Roubini.