Anyone might think that I have some connection or am being paid to plug the Market Oracle the amount I go on about it but I cannot stress highly enough how good this site is.
today’s gem from Andrew Butler’s contribution
It’s hard to explain this to a rocket-scientist banker (don’t even try and explain it to an accountant), but the time to write 110% mortgages with teaser rates is when the assets are under-priced, not over-priced. Paradoxically, now is the right time to start relaxing LTV levels not tightening them.
Disband the Military Industrial Complex
No I’m not a hippy, a communist or an apologist for bandits.
Quite a large chunk of the “plans” could be paid for if the US Government realize that they can no longer afford their grand illusion of super-cop or that the might of the military will protect the American people from unseen dangers. And if it fails to do that, well logically all you have to do is spend more.
Sorry to spoil the fairy-tale, but the real terrorists all lived on Wall Street and they caused more damage to ordinary Americans than Osama bin Ladin could possibly have dreamed of, and that’s just so far, wait until this all unfolds.
Perhaps the time has come for Rambo to stop acting out his Hollywood Joan of Arc fantasies. If Iraq and the Middle East oil states (and Israel and NATO) want to go on getting “protection” then they should pay for it. They can afford it.
The fantasy is like a script for a James Bond movie that some bad man might take over the oil supplies and then, out of spite cut off USA . The logic of why is mysterious; a more likely outcome is that the bad man would increase the price…umm, but “bad men” already did that didn’t they?
The “evidence” for that happening in reality is about as solid as those blurred pictures that Colin Powell was touting. It is pointless spending trillions of dollars, just in case this happens. Let the “bad men” take over the oil, and in the unlikely event that they start acting silly, well, Nuke the bastards.
If the US Government cuts their budget for defense in half, and then cuts it in half again, and uses the trillions of dollars that are saved on repairing the economy, that will be a sign to ordinary Americans that their government is really interested in protecting them and putting their best interests above the interests of the lobbyists and crony capitalists that currently run the show.
And a sign to the world that what’s in store is a “U” not an “L”.
By Andrew Butter
..and what’s the betting eh? …can’t see it.