Hot off the Bloomberg press...
AIG gets PWNED by the government.
And of course, as of this moment, Stock futures around the globe are sharply up in response to the news.
As I said previously, the Stock Markets, by either Plunge Protection Team manipulation, or by the foolish belief that the inevitable downturn can be avoided, are utterly divorced from reality and NOT a good gauge of the strength or prosperity to this country.
Events are starting to move faster and faster. The system is beginning to unravel, and not even all the King's men can put it back together again.
The Earth is moving under the feet of the corrupt and slothful financial titans who hath taken advantage of the Sheeple for far too long. Their government lackeys have no idea of the upheaval that will remove most of them from power.
Some may think that this latest government take over will finally bring stability to the Markets. I disagree.
Be it today, next week, or next month, there are plenty of Dead Men Walking [a] out there that are going to show up, hat in hand, begging for Fedgov intervention; and the grisly dismemberment of any one of the major zombies could trigger a meltdown in the Quadrillion dollar (!) derivatives markets.
That is what those in the know most fear.
It ain't over.
First go the highly leveraged institutions,
Then go the Corporate Dinosaurs who are too big and too burdened to escape from the killer Meteorite that is descending upon Planet Earth,
Next go the people who are not prepared for the economic chaos that is about to unfold,
Finally, after trying to implement every conservatorship/bailout/rate cut/stimulus/ accounting rules gimmick it can think of to save the above mentioned segments of the economy, the State, which is the cause of all of this drama to begin with [b][c], will finally give up the ghost.
When the smoke finally clears, hopefully within the next two years (I'm being optimistic here), America will find itself forever changed. There is no escape. Man, WOMAN, and Child will be impacted.
Only those prepared to survive and thrive will be better off. Men, women, and children will need to come together, bury the freaking hatchet (repealing every ant-male law on the books would be a good start), and make nice nice if there is to be any hope of salvation.
Doubt it not.