Enronization of America
April 4th, 2007Via: Prudent Bear:
The U.S. economy has been held up for the last half decade only by the housing and consumption bubbles caused by cheap money. Much of its healthy capitalist tissue has rotted internally, and been replaced by corrupt politically-determined rent-seeking. Only when the cheap money finally disappears, and recession occurs, will we be able to tell the full damage caused by the Enronization of America.
Posted in Economy | Top Of Page
This following article is amazing; part poetry, part clusterfuck nation, part cryptogon…
http://www.atimes.com/atimes/Global_Economy/IC29Dj01.html
“Just as the Hebrew slaves built the pyramids for the pharaoh, Mexican slaves built exurbia for white, middle-class America. “
The guy running Prudent Bear has been writing inciteful comments in his report to shareholders for years. He clearly is knowledgable. But still Prudent Bear shares go nowhere but down every once in a while.
rc