Here’s how it happened. How the American economy went into the global dumper.

Rich investors send money around the world everyday in search of markets where their investments will deliver the best returns. When those markets prove to be bad investments because the people in those markets hornswoggled the investors, the money is yanked out with forceps and the host country loses a fortune.

That’s pretty much what just happened to us. Gazillionaires licked their chops when the housing market in this country boomed. They poured a couple of trillion into our bogus mortgage market and then watched it nosedive. When it imploded, what money was left hopped in the first armored truck out of town .

It’s not unusual for this kind of scam to move in on a pile of cash this big. It happens all the time. That’s why there are people called regulators. Most of the time they do their jobs. Other times they just ignore the whole thing because Congressmen and lobbyists have ordered them to.

There is no free market anywhere on Earth. The whole notion of a free market is smoke and mirrors. If the market isn’t regulated with borrowing and interest rates, it runs off down the beach like a two year without a diaper on. That’s why two year olds have regulators…..or parents as we like to call them.

The same with the financial systems. Alan Greenspan may be the most evil and conspiratorial human being to have ever godfathered the Federal Reserve, another glaring bulb in the hanging basement light socket betraying the reality of a free market. Greenspan knew sub- prime mortgages were scams. He had proof on paper . He knew the lenders conned unqualified dreamers anxious to fall back to sleep in their own ranch style tombs.

Greenspan knew it was a hustle and did nothing to put a stop to it.

Now Bernanke, the bearded new guy, has his underpants around his ankles while debt rises like water in a torture chamber. No one has an answer. They never do.

So good luck. I hope you keep your job and can keep making your mortgage payments. Meanwhile I’m circling my own wagons, studying screw-top brain surgery at night school, writing a novel about nothing, and imagining spending the rest of my days surfing tasty 30 footers off the Pacific coast of Mexico while polishing sea shells to sell to rich Mexican oil barons. That’s right. Mexicans. They got rid of all the poor people by sending them our way. Now it’s payback. All the poor people like me from Amerika are headed their way.

And no, we don’t speak the language.

This entry was posted on Monday, January 21st, 2008 at 8:06 pm and is filed under Stuff I know. 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.