Monday, November 24, 2008

No, Bad Bank...Bad

So it looks like Citibank is in deep shit. That means we are in deep shit. Hold onto your hats folks, the ride is just starting.

3 comments:

Shy Wolf said...

This is gonna be fun-knee...Glenn Beck read a blurb about TV networks asking for bailouts today.
I imagine the candy makers will be next. Or will it be the grocery industries? No, it's gonna be the newspapers. Hold on- it's gonna be pharmacuetical industry. Dang, no! it's going to be the toy industry- Christmas is going to be pretty flat for business this year. Dang, wait a seck- its going to be...
Dangit.
Peace, Man- Shy

Dorcas' Daddy said...

Citibank will be given whatever it takes to keep their bondholders, and secondarily their stockholders, whole.

The machine is being dismantled, and the PTB isn't 5 dudes in a room, it's thousands of deca-millionaires and less wealthy powerful people.

They are gradually being handed the whole world, this process will take years, so prep carefully and make sure you have a core prep set that fits in your largest vehicle, with room for the fam--a house full of stuff is worthless if you have to leave the house.

Good luck D, and thanks for honoring our bet, I see south of $40 oil in our near future.

Degringolade said...

DD:

I hope like crazy that you are wrong, but I ain't betting this go-round. If you are right, then we are in one serious deflationary spiral and that will be desperately hard to get out of.