"Rescue plan", "Bailout", How About "Den of Liars"?
Tuesday, September 23. 2008
Posted by Karl Denninger at 07:49
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Yesterday, the market decided that perhaps Congress was going to pass the $700 billion Theft From American Taxpayer Act and hyperinflate the money supply (or, in the alternative, simply plunge us into an abyss of debt from which we would never escape as a nation), and as a consequence oil and gold were bid hard, while the dollar went in the toilet and so did the Dow.
After all, its somewhat difficult to make money as a corporation when either inflation is running in the double digits (see the 1970s and early 80s) or worse, you're clawing at the edge of the cliff as you sink into the maw of the debt-destruction monster.
Here's a short video on yesterday's market action
Click to view--MORE--