tens of thousands of investors, some losing entire life savings, saw more than $16.5 billion vanish into thin air during 2009. this number trembles in comparison to madoff's $65 billion scheme in 2008; but in all there were more than 150 ponzis this year, compared to 40 last year.by comparison, the american taxpayer by way of the federal government estimates the deficit for the current budget year will exceed $1.2 trillion, encompassing all the economic stimulus measures passed through by our overseers. as for me, what do i have? three stacks of high society in red, courtesy of the oligarchs. question: who is the real criminal amongst these scenarios?
meanwhile, the second year of the great recession looms. the worst recession since the great depression, that is. unemployment hovers at 10% [officially; closer to 20% unofficially, including underemployed and discouraged workers]. consumer debt is out of control. the american people are un-insured and under-educated, but over-charged. small businesses are finding it hard to obtain liquidity in the form of revolving lines of credit, previously used to sustain operating activities. banks have done one thing almost right--they've stopped lending to borrowers already pushed to the limit. energy futures and stocks maintain their rollercoaster motion, anticipating or wishing against a W-shaped recovery. business analysts from cnn to fbn to msnbc seem to think that somehow the american consumer/taxpayer/slave will somehow spend our way to prosperity.. what to do?
another good thing to emerge from this heaping pile of rubble we call the american economy, is the banishing of the crutch formerly known as easy credit. the era of fast money is essentially over. the millenials will be the poorest generation since 1947. we will have to revert to a time when one actually had to work to make a dollar. after unsuccessfully being able to draw equity out of real estate to begin my investing ascent to mogulhood, i've been a very angry young man. i've licked my wounds and regrouped. i'm re-upped and starting small. again. out [well, in] looking for another job. but i've got a strategy, and if you cant beat em, join em:
"money is my morals; other than that i'm soul-less." --the clipse(!)
BLK|MRKT|CAPITAL is borne.
