Thursday, August 18, 2011
Rage Against the Machine --- RATM
Rage Against the Machine, one of the better bands from the early to mid-90s really hacked through distractions when the world of pop was singing about boy meets girl. boy and girl breal up and all of that teeny bopper crap.
One of their songs (see link to you tube below) shoves truth right into your face, "Know Your Enemy".
As of this post DJI is free falling close to 500 points down. S&P our good downgrading buddies convey opposite that most of the banks in the US are in trouble yet again. There are BIG RUMORS SWIRLING that a bank in Europe is has a serious liquidity problem and that depositors may be making a run on the bank. I will hazard a guess here that its in one of the periphery nations, PIIGS, and that if this rumor proves true, another Lehman/Bear Stearns may occur.
If this comes to pass we are in for a hell of a ride today and tomorrow.
Another band with a cold-hard-reality message was The Godfathers, from England, with their "Birth, School, Work, Death" (see link below).
Its potency in how life for the majority was, is and ever will be made me think about what career path to take.
I think I'll go for a few lunch time beers as its raining in the BIG APPLE now, raining LOSSES!!!
Prediction on bank implosion:
#1. Bank of Ireland
#2. A bank in France (Soc Gen?)
#3. A Spanish bank with huge exposure to Portugal
#4. An Italian bank
See "Who Owes What to Whom" chart in Europe.
Time for that Belgian Beer!