I find the markets fascinating. The tug of war is on. On the heels of black Monday, the banker class pushed the panic button.
Trust me when I say this. Bernanke is going to be "directed" to put a positive spin on our economic nightmare. Today, I fully expect him to hint at QE3 or any number of things to stop the flow of blood. This will not be what he actually believes. This will be him, selling us out, as per usual.
The confession that we are fucked? QE3. The ruling class have a choice right now. Let the damage they caused finally unwind- enter the penalty phase and get it over with (1) or try to gerrymander another bullshit rescue attempt and cause even further and more significant damage(2).
I believe they will pick door number (2) again, Monty. The ruling class is desperate. They have a lot to lose. The rest of us? Nada. The bankers want their bonuses, houses in the Hamptons. The politicians want to get re-elected. So it is, TPTB (the powers that be) and their lackeys, guys like Krugman and this MIT (Bernanke classmate) educated idiot, will get their way. http://www.bloomberg.com/news/2011-08-09/rogoff-says-fed-likely-to-embark-on-qe3-act-decisively-to-aid-recovery.html
The cumulative effect of all of this money printing? More wealth distribution to the ruling class, more inflation and theft from the middle class, and when it is over, we are going to have the same shitty results. Keep repeating the same mistake, keep getting the same results. Ad infinitum.
QE3 is the confession. If QE3 begins, that is the signal to throw in the towel. At that point you should take everything you have and invest in gold, real estate outside our borders, Icelandic treasuries. The reality is- QE3 is like saying we only have one solution. We are going to print, print, and print our way to hyper-inflation. If you don't think a hyperinflation event can happen here, if you think Weimar, Germany or Zimbabwe is impossible or a wives' tale- watch closely. These bastards, and that desperate man in the White House, are just the right recipe.
Wow. I cannot believe this is happening. I gotta go buy more gold.