WRECKAGES

As the sub-prime mortgage chicanery persistently devolves into unbounded defiance of pedantic official containment, the internecine carnage strewn among the smoldering ruins of any number of moribund wreckages littering the broken finance and credit markets is beginning to resemble the early days of insurgency in Baghdad-- Containment failed nearly everywhere in Iraq despite the demonstrative official denial on a daily basis that an insurrection even existed, due in large measure to the largely unimpeded mobility of daring mercurial insurgents coupled with the unrestrained, (liquid, if you will), ease of acquiring large and lethal amounts of explosive ordinance and ubiquitous thousands of AK-47s and other small but deadly arms (misplaced or black-marketeered or both?)-- The Good Guys had argued for twice as many troops as the war's salesmen and profiteers endorsed but were shouted down, vilified, smeared and in at least one gruesomely ironic case ultimately fired--

The fundamentals, there in Iraq, were also apparently very sound as an unquestioning cavalcade of shallow promoters and obsequious opportunists relentlessly toured the deadly lecterns across the complicity-driven media sphere with optimistic bandwagon jargon extolling the hubris of our exceptionalism that sadly proved to contain not one authentic whit of real world veracity-- Others would have to walk their talk-- Like the chosen marks from the sub-prime credit classes, our troops stepped up under-manned, under-missioned, callously under-armored and certainly under-appreciated by their corporately-tied officers ensconced in their mahogany foxholes-- While cavorting their regal militance among the elitist cocktail echelons of DC, yes, our young troops bore the brunt of the dying-- An adjustable rate mortgaged to a flag-draped casket the callow administration, lacking simple common decency and courage, would refuse to honor those fallen by denying media access to their fatefully solemn return-- Young life and the truest..... foreclosed upon by real bullets...... not good enough for the Nightly News!!!!!

Iraq has been back-burner-ed of late-- Intermission, apparently, from its ongoing disintegration while its petulant self-appointed handlers in The US Senate, themselves in various states of opulent hiatus and disrepair from their own ineffectual performances in the sweltering DC capitol-- Senator Levin, in particular today, shouts for a new Iraqi cabinet and cajoles the Prime Minister largely for what his and dozens of his colleagues votes have wrought upon the people of Iraq, the exhausted US Army itself and the demoralized spirit of the American people-- Why the hell not?-- Since the maniacal tantrum bestowed upon live television by Mad Money's histrionic Jim Cramer worked its ultimate magic seemingly adding to the hysterical mix in the paralytic credit markets that induced Fed Chairman Ben into a panic-ridden about-face to lower the discount rate-- As if that would mystifyingly produce copious amounts of demand for deadbeat sub-prime issues or the endangered paper emanating from commercial ledgers backed by what else?--sub-prime insolvency-- The country's July foreclosure rate was up 93%!!!!--

'Repricing of risk' has replaced 'containment' and now vies with 'The fundamentals are sound' as the latest euphemism for the decline and hard fall of the credit, mortgage, housing, and construction complex which endangers the entire world banking system and all of its member national economies-- It threatens the border-integrity of a very shaky world-order propped up by suddenly skittish banks and leveraged by decrepit political leadership in weakly unsound states everywhere-- No Surge of rate-cuts or intravenous Fed infusions will turn the current sow's ear into a silk parachute-- Bailing out the addled ponzi excesses of Wall Street's Bulls will bury the dollar hastening it's demise as the world's currency possibly even its viability as a vital national currency-- World investors once ran blindly when push came to crunch for the safety of T-Bills but in this crumbling credit paradigm the frantics might not gain the security for which they bid-- Indeed today's yield on the 3-month t-bill rose dramatically-- At the end of last week Japan's condition was explained to The Fed as......... 'dire'--

As the Era of Globalist Finance undoes itself and the unwinding becomes acutely visible to most all, the question to ask is..... What, at the end of the day, did we get for both our work and our money?-- Where are the new or upgraded manufacturing and textile plants, the new mass transit industry, the rebuilt railroads, the repaired bridges, the replanted forests, the restored fisheries, the repaired electrical grid, the replenished oil stocks, the improved living skills of our youth, our ability to toil for necessities, the health of our people, our sobriety, our missing joy for simple things, our misplaced happiness, our un-indebtedness, our thriving family, our Independence, our responsible citizenship?????-- Go Home!!!!!........... Think on these things.......... We need your help--