So, This is What Financial Armageddon Feels Like

Posted on September 18th, 2008 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research

Sit back, take a deep breath and remember what is happening around you at this point in time. Today will be written about in history for quite a long time.

What this week ending today boils down to is the financial system imploding.  This is financial Armageddon. In the past several months they have spun the truth, injected hundreds of billions of dollars not including today’s global injection and bailed out massive companies like AIG and the GSE’s.  Still the markets did not clear.

Credit markets today were still locked up as tight as ever and stocks were ready to crash again today. Now, they are turning to legislation. Remember this moment. This is what financial Armageddon feels like. As of this moment in time, we are imploded.  Without emergency action tonight, the fall out from this week is what would have caused the real devastation. -Best, Mr Mortgage

55 Responses to “So, This is What Financial Armageddon Feels Like”

  1. @od. Taxes likely won’t be raised one cent. A dollar will just be worth a lot less. This has been going on a long time but it is set to accelerate and climax. But you are right – we need a revolution. Secession might work too.

  2. od, you are unfortunately wrong on the revolution idea. We need one, so you are right about that, but people are too busy, self consumed and stupid for any action. I used to beleive the same and have championed a movement for year (civil) and have never had any luck. Nope.. we are done.

    Now don’t get me wrong that we will see rampant crime as a result of this “Bail Out” and poverty will escalate to levels most Americans will not be comfortable with. Kids begging on a street is what you see in poor countries. Well we will be seing that here in every major city once inflation blows the dollar right out of the water.

    It is funny that these morons think that by taking from the poor and giving to the rich it will make everything OK again. Without the poor we have nobody to make the rich wealthy. Stupid egotistical shills that they are will wind up being roomies of those they loath when this is over.

    Even if it worked, which it won’t which should be obvious, what good is having banks that can lend when nobody can afford to borrow? HELLO? Are they that stupid. We are saving the eggs, but killing the goose. What good is a nice warm nest if no eggs are laid to hatch in it. This makes absolutely zero sense…

    At any rate it is obvious that the public will not partake in any attempt to save their own country and there are not enough of us bloggers and blogger paticipants to make a dent. They win once again, but this time we may all lose as a result of their final compentence, and that means them included… idiots!


  3. I don’t think it means all of them. Most are moving to Dubai probably.

  4. od, Dubai is for the ultra wealthy and anyone holding the American dollar 1 year from now if this “Bail Out” passes will not be able to afford a month stay there, let along to live. They will be middle eastern, Asian, and some European folks, but no too many American members amonget them. That’s OK because they all hate us anyway and who can blame them. PAulson will be ablt to because of his 500 Million parachute tax free at Goldman, but seriously not too many will…

  5. From Mish… GB him!!!

    Write them and write them often… ALL of them ALL of the time!!!

    It won’t do one damn bit of good more than likely which is why after we go through this exercise of futility you will agree with me to”

    VOTE EACH AND EVERY INCUMBANT OUT OF OFFICE IN 2008!!!;;;;;;;;;;;;;;;;;;;;;;;;;;

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