Saturday, March 15, 2008

Bear Stearns Meltdown : Alessa Is Now Inside The Church

Bear Stearns is threatening to declare insolvency and with it trigger a worldwide financial collapse of apocalyptic dimensions. There are people claiming that J.P. Morgan may have propped them up so heavily that it will go down when they do. Citibank is said to be living day to day inside blacked out offices hanging up on their creditors. It's not good for the United States.

The feverish limbo between consciousness and dreams is about to come to an end for Amerikwa. This is the part where everything becomes a nightmare. I've always thought of the last citizens of Amerikwa as being similar to the confused zealots of Silent Hill taking refuge inside the temple and pretending that they can keep the bad out by just ignoring it or singing hymns. Their entire reality has been an artificial construct for generations ... and now it is collapsing in on itself.


Anonymous said...

Nice horror/videogame reference :)
*geeks out*


Euro $1.56 Gold $999.50 Oil $110.21

Anonymous said...

Bear is on the hook for $45 Trillion (yes T for trillion) dollars in counter party swaps - insurance on various derivatives bets. If they go under than the people who hold those swaps probably go under too.

The whole thing is dominoes - housing collapses, which collapses the Carlyle Hedge Fund which brings down Bear, which bring down ??? next.

The whole thing is spiralling out of control relatively quickly. I don't think we get out of 2008 without being in a depression.