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The new movie – Zombieland – about a group of survivors in a world of zombies, was the biggest grossing film in America and Canada over the weekend. It must reflect the zeitgeist of the North American public…a deep feeling that we are living in a decaying world.
Maybe it comes from the growing awareness that the old bubble economy of the 2002-2007 period is dead. Now, survivors must defend themselves from the zombies.
Survivors are being attacked in the streets, in their homes, and at their workplaces. Zombie banks – kept alive by artificial stimulants provided by the feds – take their money and their houses. Living-dead companies block new competitors. And the zombies at the Fed and the Treasury department try to gnaw on their savings, encouraging inflation to eat away the purchasing power of the dollar.
As to this last point, the feds have gotten nowhere. They wear down their teeth for nothing. Prices are going down, not up. Houses are 30% cheaper than they were in 2006. Hotel rooms are 20% cheaper than last year. You want a luxury room? Just ask for an upgrade. Chances are good that no one is renting the luxury suites. Just make them an offer. Discounts are available almost everywhere. The Sony Playstation, for example, is now available – 25% off.
Stocks are cheaper too. They’ve been going up for the last seven months, but they’re still about a third less than they were in 2007.
Stocks fell again on Friday. Investors began to fret that maybe…just maybe…the authorities don’t have this zombie problem under control.
“Jobs news gets worse,” The New York Times tells us.
Since the stock market began going back up in March, the United States has lost 2.5 million jobs. It has lost jobs every month since December 2007. Now, unemployment – officially at one in ten workers – is the worst it has been in 26 years.
What kind of recovery is this? We don’t know, but if it continues much longer we’ll all be unemployed.
But not to worry, dear reader. Secretary of the Treasury Tim Geithner says the signs of recovery are “stronger” than expected.
We wonder what signs he’s looking at. Of course, this is the same doctor who was on the scene at the New York Fed when strange things began happening. The financial industry started acting funny in the bubble years…spending money like there was no tomorrow. And then, wouldn’t you know it, there wasn’t any tomorrow. They dropped dead in the crash of ’07-’08. But with huge injections from the Fed, they’ve turned into Zombies.
Of course, Tim Geithner missed the whole thing. So maybe he’s not the best source of recovery sightings.
Excerpt. Rest here.
http://dailyreckoning.com/welcome-to-zombieland/
Maybe it comes from the growing awareness that the old bubble economy of the 2002-2007 period is dead. Now, survivors must defend themselves from the zombies.
Survivors are being attacked in the streets, in their homes, and at their workplaces. Zombie banks – kept alive by artificial stimulants provided by the feds – take their money and their houses. Living-dead companies block new competitors. And the zombies at the Fed and the Treasury department try to gnaw on their savings, encouraging inflation to eat away the purchasing power of the dollar.
As to this last point, the feds have gotten nowhere. They wear down their teeth for nothing. Prices are going down, not up. Houses are 30% cheaper than they were in 2006. Hotel rooms are 20% cheaper than last year. You want a luxury room? Just ask for an upgrade. Chances are good that no one is renting the luxury suites. Just make them an offer. Discounts are available almost everywhere. The Sony Playstation, for example, is now available – 25% off.
Stocks are cheaper too. They’ve been going up for the last seven months, but they’re still about a third less than they were in 2007.
Stocks fell again on Friday. Investors began to fret that maybe…just maybe…the authorities don’t have this zombie problem under control.
“Jobs news gets worse,” The New York Times tells us.
Since the stock market began going back up in March, the United States has lost 2.5 million jobs. It has lost jobs every month since December 2007. Now, unemployment – officially at one in ten workers – is the worst it has been in 26 years.
What kind of recovery is this? We don’t know, but if it continues much longer we’ll all be unemployed.
But not to worry, dear reader. Secretary of the Treasury Tim Geithner says the signs of recovery are “stronger” than expected.
We wonder what signs he’s looking at. Of course, this is the same doctor who was on the scene at the New York Fed when strange things began happening. The financial industry started acting funny in the bubble years…spending money like there was no tomorrow. And then, wouldn’t you know it, there wasn’t any tomorrow. They dropped dead in the crash of ’07-’08. But with huge injections from the Fed, they’ve turned into Zombies.
Of course, Tim Geithner missed the whole thing. So maybe he’s not the best source of recovery sightings.
Excerpt. Rest here.
http://dailyreckoning.com/welcome-to-zombieland/
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