According to The Age, Leo de Bever “has warned mum-and-dad investors to prepare for a massive sharemarket crash.”

I say again, no shit Sherlock?

The crash has already happened. The only thing keeping the stockmarket alive is the continued pumping of hyperinflationary “liquidity” into the markets.

The FED claimed that as a result of the recent interest rate cut it had shifted from its previous stance of giving top priority to economic growth to one in which the upside risks to inflation “roughly balance” the downside risks to growth. What a pile of crap. What they mean is they will continue to massage the inflation figures so that the hyperinflationary rise in commodity prices is offset by the continuing reduction in costs of electronic and other goods that people can no longer afford to buy, and they can continue to announce an on-target headline inflation figure.

In the meantime, banks continue to demonstrate that they are already bankrupt, the so-called reserve currency of the world continues to collapse in a heap of steaming poo, and staples like pasta will be classified as “luxury foods.”

This entry was posted on Monday, November 5th, 2007 at 9:18 am and is filed under Economy, Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.