Not only are the markets enduring a Phase Change, so are consumers. They're strarting to struggle and stress. They're upset, and should be, for being swindled - and the swindles keep on coming...and going - to AIG and a slew of other banks. It is a matter of time, as Jim Kunstler says, before the distractions (watching IDOLS) becomes a sideshow to VIGILANTE ME!
The bigger question for now is whether any of these authorities will act effectively before the public simply goes apeshit and starts burning down Greenwich, Connecticut. The dangerous shift in public mood is liable to occur with shocking swiftness, in the manner of "phase change," where one moment you see a bewildered bunch of flabby clown-citizens vacuously enraptured by "American Idol," and the next moment they are transformed into a vicious mob hoisting flaming brands to the window treatments of a hedge funder's McMansion. The moment of opportunity for avoiding that outcome is looking sickeningly slim right now. |
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