August 21, 2009
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The Tape
It wasn't only Charlie that was sick
We were all sick then but happy!
There was Gordon the K scalping Syntex for a thousand a day
Old Puff-Puff and the Doc playing with the pinks
And the lunch-watchers watching mostly Gordon the K
And the Herr Professor from Auschwitz with his crazy P & F's
All of us were high-boarding to the top in early '68
And Charlie too while he was trading Memorex
He had the big gray C
He was dying and then one day - out he went the only winner
While the rest of us were stuck on that electronic fly-paper
Working at being losers while we won
God how we won and even after it was over
Thank God again for LBJ surprise surprise!
Who kept it going for a few more horny hours
Now the Great Gordons are gone beaten by the blocks
Everybody's trying to sober up - losers and the lost
Micro-chipping is curing us all and the bytes are mopping up*
Charlie's been dead for forty years
Nobody's left to trade his tears
*The personal computer and millions of day-traders (amateur and professional) have remade
Wall Street into an even bigger casino than it was before… Now the Federal Government
has joined the game by pouring hundreds of billions of tax-payer dollars into their trading proxies
(Goldman-Sachs, JP Morgan-Chase, Bank of America-Merril Lynch) etc and till recently allowing
illegal short-selling to artificially revive market averages, moribund 401-K's, IRA's and bankrupt pension
funds… There are periods in history, where the same sort of government interference in financial
markets produced disastrous results and ruinous inflation… In 1711, the Earl of Oxford’s South-Sea
Bubble devastated the British economy and a few years later, John Law’s Mississippi Scheme ruined
the French economy for many years afterwards… The United States Government has no business
bulling the stock market with other peoples' money...
Comments (4)
You're right, there's definitely a casino atmosphere . . . but no one fully sees or understands the big picture . . .
Do you think that one day the whole thing will collapse, completely??? Or will it arise again like the phoenix? I am biding my time at this casino of sorts.
@ZSA_MD - No Doctor Z... it won't collapse... not as long as Mr Bernanke keeps creating wealth out of thin air... and other central bankers also doing the same... You want to watch how the prices of commodities react to all this pump-priming because traders and speculators world-wide are slowly bidding up prices of sugar, corn, wheat, rice, soybeans etc, ... all that is being grown for food and the fertilizers to help it along...or needed to build things like cement, lumber, other metals (precious and basic)... in short everything under or above ground... oil, coal and natural gas to power utilities and tractors, etc... This will become the new currency in the coming decades... There is a good reason why the Chinese are all over Africa buying up resources like mad, using as collateral, the enormous hoard of our bonds they have accepted as payment for stocking our Walmarts and Targets and Kohls... And to help facilitate shipments of all these commodities, did you know Jimmie Carter sold them the Panama Canal!... It's getting very interesting and I just hope I live long enough to see it all come to pass...
I learn a lot from your posts and replies to comments too. Like Dr. Z and you too I'm hoping I live long enough to see what happens, and I hope to see more stabiliby someday. Glad I made changes to our retirement investments back in 2007 so didn't lose anything, but it's still scary.
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