Tuesday, September 14, 2010


Today is September 14th. It was Sunday two years ago. Oh, and it was also one day before the market began it's collapse, which sent our country into a national tailspin that we're still experiencing.

I rarely blog on Sundays. But on that Sunday I did.

I had been following our slow motion market collapse (which I discussed throughout 2008 here, here, here, here, here, here, here, here, here, here, here, here, here, here ... well, you get the point) and suspected that the impending market collapse that I had been discussing was upon us. So I blogged about what was happening in the market, on a Sunday no less. I haven't blogged that many times on a Sunday since.

Later I discussed the possibility of Golden Parachutes (which turned out to be a serious understatement), how global markets were responding (not well), and other market ugliness, which we're still living with, the following day.

To be sure, I didn't think that the collapse would be so big as to put the U.S. taxpayer on the hook for at least $20 trillion in bailout cash and other market guarantees. But then again, I didn't think our government - especially if Barack Obama reached the White House - would fill up the tank and turn the keys over the people who ran the nation's car into the ditch. But this is exactly what happened.

Today, banks are flush with bailout cash and corporate America is sitting on trillions in cash as a result of government's decision to make them whole. But Main Street sees no end in sight to the effects of Wall Street's greed and stupidity. What we're seeing in the polls is evidence of this ...

I'll have more to say about all of this in the coming weeks. In all cases, Happy Anniversary (eve).

- Mark

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