The Triple Fraud

Sad to realize that the final years of the U.S. economic recovery were propelled entirely by subprime mortgages fraudulently issued to the unemployed; the reverse mortgage scam that robbed seniors; and by phony derivative-driven inflated interest rates that called upon those living on their savings to go out and spend money they didn’t really have.

Take away the subprime mortgages, reverse mortgages, and inflated interest rates and you come to what would have been “normal” without the triple fraud. Normal would have been a recession that began a decade ago – a recession without end.

The U.S. (the greatest country of the age now past) was bankrupt as we entered the twenty-first century, and by then it had been robbed and raped by a handful of home-grown carpetbaggers. Now President Obama actually believes that he can pull one more rabid (deliberate spelling) out of a beat up old decrepit hat. As I see it, he is not to blame. You cannot blame one who truly does not know that he does not know. Obama is simply another victim no different than the rest of us.

It is unfortunate but true that on our small planet a Five Trillion Dollar Wall Street Fraud has stripped the cadaver (our entire planet) to its skeleton, and devoured the bones as well. There is nothing left to steal. Even the carpetbaggers lose. Lights out in Chicago.

Not to worry though. Markets will tumble, but the awesome magnitude of this planetary tragedy will not reveal itself overnight. If this “age” takes 2000 years to come full circle from the recent market peak, we may be facing a thousand years on the downside. Puts things into perspective.