Wednesday, January 27, 2010

Keep Repeating The Lie

Are you watching this circus today with Geithner on BubbleTV?

Are you watching Rep. Kanjorski grovel over how Treasury Sec. Turbo Tim Geithner saved the world like a Marvel comics superhero?

One might conclude Kanjorski's act to be teabagging as opposed that of the citizens who peacefully assembled to protest over the past year

Over and over again even the aiders and abettors in congress and the senate just keep repeating the lie. That geing we were going to blow up into oblivion, and the new one he laid on us today, that we would not be functioning under the Constitution.

I was under the mistaken assumption only equity bears and fringe, idiot bloggers were the only fear mongerers.

Kanjorski should be on Comedy Central, not in Washington D.C. This perpetual repetition of Armageddon, End of World as we know it, utter collapse, cats sleeping with dogs. It all reminds of a piece I read earlier this month from Rick Ackerman.

Back in the first week of January, Rick, who is a blogger and trader extraordinaire, had a very timely and appropriate quote at his site Rick's Pick's. In the piece entitled Big, Brazen Lies Sustain Economy, Rick wrote the following:

"Still, we don’t fault the spinmeisters for trying so desperately to tell it like it isn’t. As Joseph Goebbels famously said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.” The rest of this quote is less often repeated, but it holds dire implications for the economy and perhaps even for the political system if and when Americans realize that it is lies alone that have kept us from crashing. Here’s how the Nazi propagandist finished the thought: “The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie.” And so we might ask, how much longer can taxpayers be shielded from the consequences of a federal deficit on its way to $14 trillion or more? And how many believe the whopper that spending yet more trillions in Keynesian fashion – which is to say, flushing it down the toilet – will enable us to grow the economy from a cosmic trench of indebtedness?

Yes, the playbook is well worn by men like Paulson, Geithner, Greenspan, Bernanke, and the rest of the Washington. Just keep repeating the lie, over and over and over again. You might even get your pet parrot to say it as well.

And for extra measure,
when you are not repeating the lie, pull out the Sargent Schultz line (of Hogan's Heroes fame) .... I know nothiiing, I know nothiiiing !!

You also have to really appreciate the memory of a guy who recalls everything that saves his skin line item by line item, yet has no recollection of anything else, but not before wrapping yourself in the cloak of patriotism.

Pathetic, absolutely pathetic.

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81
Short 1 unit CurrncyShr Aus Dlr ticker FXA @ $89.65 stop @ $91.71

1 comment:

CrisisMaven said...

it won't be long until you can "short" the housing market: Of Mortgage Brokers, ARMs, Attrition and Marathons