Fred Williams

Comments by Fred_Williams

Bubbles: Greenspan, Bernanke could have learned something in San Diego

All these factors you've described are sufficient to set up the global economy for a great fall. The question in my mind is what the trigger will be that starts the panic. Another terrorist attack? A cyber-attack that actually does damage to financial systems (they're so vulnerable to this it's almost a certainty it WILL happen, but who knows when)? Another war, perhaps with N. Korea, or Iran, or in Norther Africa or will the US openly intervene in Syria? In the meantime, for normal folks without insider trading knowledge, the only possible outcome is negative. This is squarely on Obama's shoulders. He has both the power and opportunity to challenge these corrupt banksters and chooses instead to coddle them (look at the HSBC slap on the wrist). Unfortunately, I see this getting really ugly...civil unrest ugly. Militarized thug-cops beating old lady protesters ugly. Bombings and assassinations ugly. Is there time to prevent this? Barely. But I have zero confidence that those with the power to enforce the laws will actually do so. Rather, they will unleash the thugs and start a civil war instead of challenging their paymasters. San Diego is a microcosm representative of the rest of the country. A corrupt oligarchy has strangled the city, and the country. Until we get rid of them, there is no hope for anything getting better. If the lawful means of getting rid of them won't work, then non-lawful means will be used. That's the lesson of history, if anyone is interested in learning from it.
— March 13, 2013 11:12 p.m.