Wednesday, August 10, 2011
OLD people in CARS and Bank Rumour Mongering
If you're over 80 years old you may not wish to read this!
As far as my opinion goes, anyone over the age of 80 years old NEEDS to re-take the driving test to be issued with a license.
If you think the accelerator is the brake or vice verse, you need to re-take the driving test.
The story below illustrates the necessity of this common sense suggestion:
Over 80 = re-test.
Maybe the old fellow was pissed off with the 519 plummeting in the Dow today.
I'd be pissed but would remember where the accelerator was in the damn car, a Honda.
Maybe his retirement was in the shitter and he was about to take it out on the cappuccino sipping class right in front of the disabled parking spot he was parked at but wasn't disabled BEFORE the accident.
Because a man is 92, does that mean he's disabled and should have access to the disabled parking spot?
I think not.
Regarding another disability story --- On 8/9 I mentioned, erroneously that the FED would embark on QE-3.
But the ponzi scheme banks in France, SocGen et al. denied rumours that implosion was imminent (which it most definitely is). When a bank engages in deniability of rumours, the end is near for that bank.
Watch SocGen descend into the ashes of oblivion.
Here is their exposure to various debts, sovereign and otherwise:
It appears our friends at SocGen are on the hook to Greek debt for EURO 2.5 billion and PIGS (Portugal-Ireland-Greece-Spain) EURO 6.5.
Well the total is probably much more than this amount.
I estimate that SocGen is exposed massively to some of its Eastern European nation state clients and demanded a meeting with Sarkozy to explain that exposure in detail and perhaps discreetly push for a BAIL OUT!
Thursday and Friday will be a slaughter in the stock markets around Europe and the USA. There will be no reversal.
Dow Sub-10,000 by August 12th 2011