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Date Posted: 18:16:00 11/09/09 Mon
Author: Paul Davis
Subject: Things aren't looking up

Well, Roubini finally got around to noticing that the dollar is being used as a carry trade, with the connivance of the Fed and the Treasury. Nice if you can get it, free money in the US, drive down the dollar, that's 20% profit BEFORE you actually invest a penny. Then you get to demand high rates because nobody has any other money. And you repackage the whole deal into a "safe derivative" and sell it, bring the money back home so you have dollars, and laugh all the way to your cave. Others were talking about this first, but for some reason Roubini has more credibility than anyone else, guess it's that professor thing.

http://www.ft.com/cms/s/0/9a5b3216-c70b-11de-bb6f-00144feab49a.html

He's also worrying about oil prices - which are being driven up and down by the above.

http://www.cnbc.com/id/33626382/site/14081545/for/cnbc/

Anything in all that sound familiar? Apart from betting they can make a dollar worthless, and pull out before the rebound, rather than betting they can persuade a guy making 40K per year to buy a 500K house, it's the same deal as the last deal. And the next bust won't have all the bailouts, because the taxpayers will absolutely revolt when it's brought up. Nobody is going to want to see the teabaggers become an actual credible force, rather than a farce.

On top of all that, the crazy thing about "the consumer will spend like mad, and drag us out of the recession" keeps getting kicked in the teeth.

http://edition.cnn.com/2009/OPINION/11/06/stimulus.jobs/

Reality bites, doesn't it?

Plus, now you can be framed for kiddie porn, even if you've never seen any in your entire life.

http://www.digitaljournal.com/article/281849

Of course, that won't add anything to stress on anything, financial or otherwise. Perfect timing.

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