Hat tip to zerohedge.com for this oldy, but goody
http://www.zerohedge.com/article/rick-santelli-goes-nuts-top-3-rant-protesting-what-else-endless-subsidies-and-fed-meddling
Rick gets wound up based on earlier disclosure by Bill Gross that if the government guarantee of the GSEs were removed, he would only participate in the mortgage market if there was 30% down payments by first time homebuyers (oh, and, tee hee, guess who will be present and providing "eye of the monopolist beholder" advice at next Tuesday's panel). As Rick summarizes: "the people holding, the Treasury or institutions, are locked up in this place where the subsidies can't come out; extrication is going to be difficult much less getting out of the way of anything they may do in the future." Yet what sets Rick off is the debate over why the Fed should not let housing crash to its fair value bottom, instead of artificially pushing rates lower and lower, which benefits nobody except those serial refinanciers who hope to lock in a 30 Year at 0.001%. The screamfest begins at 5:40.
And yet, our fearless leaders seem to think the answer is Mo' Money, Mo' Money, Mo' Money and EVER MORE TINKERING...so much to be angry about, so little time.
HERE'S BEN AND HIS HELICOPTER DURING THE FIRST QE FLIGHT - ANOTHER FAILED POLICY (TINKERING)
Maybe before he takes the old Helicopter out for his "QE2 Voyage" Bernake can take a page from Notorius B.I.G. who rapped in Mo Money Mo Problems "I don't know what they want from me, It's like the more money we come across, The more problems we see"
DANG, WHY DIDN'T I THINK OF THAT?
Isn't it clear to all that this government and Federal Reserve tinkering via failed and misguided economic and fiscal policies has given us the equivalent of a "Frankenstein Economy". It looks like it's alive and has all the features and characteristics of a real, functioning economy, but the reality is it's not.
Some of these cats in Washington must have been huge fans of Dr. Frankenstein.
http://www.imdb.com/title/tt0021884/quotes
Memorable quotes for Frankenstein (1931)
Victor Moritz: You're crazy!
Henry Frankenstein: Crazy, am I? We'll see whether I'm crazy or not.
Henry Frankenstein: Look! It's moving. It's alive. It's alive... It's alive, it's moving, it's alive, it's alive, it's alive, it's alive, IT'S ALIVE!
Victor Moritz: Henry - In the name of God!
Henry Frankenstein: Oh, in the name of God! Now I know what it feels like to be God!
Henry Frankenstein: The brain you stole, Fritz. Think of it. The brain of a dead man waiting to live again in a body I made with my own hands!
Dr. Henry Frankenstein: The neck's broken. The brain is useless. We must find another brain.
Dr. Henry Frankenstein: You're quite sure you want to come in?... Very well.
[Locks door and pockets key]
Dr. Henry Frankenstein: Forgive me, but I'm forced to take unusual precautions.
Henry Frankenstein: Dangerous? Poor old Waldman. Have you never wanted to do anything that was dangerous? Where should we be if no one tried to find out what lies beyond? Have your never wanted to look beyond the clouds and the stars, or to know what causes the trees to bud? And what changes the darkness into light? But if you talk like that, people call you crazy. Well, if I could discover just one of these things, what eternity is, for example, I wouldn't care if they did think I was crazy.
Doctor Waldman: You have created a monster, and it will destroy you!
[first lines]
Dr. Henry Frankenstein: Down! Down, you fool!
Baron Frankenstein: [lastlines]
[Raises a glass of wine to offer a toast]
Baron Frankenstein: Well, as I said before, here I say again, Here's... Here's to a son... to the House of Frankenstein.
Maid: Indeed, Sir. You too, Sir.
THE ORIGINAL FRANKENSTEIN (1931)
http://en.wikipedia.org/wiki/Frankenstein_(1931_film)
The film begins with Edward Van Sloan stepping from behind a curtain and delivering a "friendly warning" before the opening credits:
We are about to unfold the story of Frankenstein, a man of science who sought to create a man after his own image without reckoning upon God. It is one of the strangest tales ever told. It deals with the two great mysteries of creation – life and death. I think it will thrill you. It may shock you. It might even – horrify you. So if any of you feel that you do not care to subject your nerves to such a strain, now's your chance to – uh, well, we warned you.
THE MODERN DAY - ECONOMIC FRANKENSTEIN - THE GOOD DOCTOR HIMSELF
AND HIS MAGNIFICENT CREATION
THE BUBBLE MAN:
No comments:
Post a Comment