Bearing in mind the uncertainties, we turn to "Trader Rog's" latest column, "Phase Two Of Greater Depression II Begins Now." Here are some tidbits (emphasis per the original).
"If you thought Lehman was fun get ready to see new price controls and acceleration of existing capital controls, with inflation that will knock your socks off. We have at least two to five more years of crash and burn in the financial markets before a new base is found.For retirees and those nearing retirement, the last is perhaps the most appalling. And it's been bruited about for some time. Something to think about as the year winds down.
Many of the very large global banks will be nationalized and some will fold into insolvency or merger. Roughly 90% of the derivatives and real estate toxic paper trash remains hidden on banker balance sheets. Not only was the problem never fixed, they’ve been piling on more bad loans-paper at a furious pace.
Corporate insiders, CEO’S, presidents, and other officers have been selling gobs of stock at a rate we last heard of as 1600 to 1. That’s 1600 shares sold for each one purchased. Mr. Ballmer, chief honcho at Microsoft is dumping well over $1 billion as we speak…that is only one example.
The next big government taking will be to steal the pension pools of national and international corporations. This is the last remaining honeypot for government theft and has already been practiced in South America.
Individuals holding pensions and government paper will wake-up one morning to find its all been seized and piled into 30-year USA bonds, which are sinking like the Titanic. There will be no buyers and no exits for those assets. The owners could get totally wiped out."