I got this from a quite reliable source today, who heard it from a highly placed real estate consultant to the banking industry. AFTER the elections, they banks are going to come to the U.S. government, hat in hand, to let it know that they hold trillions of dollars in foreclosed properties which cannot be sold, and, unless the govenment wants the banks to fail, they will need MANY dollars (trillions).
WELL, the FIRE (Finance, Insurance, Real Estate) sectors have been delighted with Barry O's tenure are President, and they don't want to let in a Republican who will be entirely unable to accomplish what the Bland One (B-O) has managed to accomplish: cut social security benefits, hand out fortunes to the pharmacuetical companies, the insurance industry, and the private hospital industry.
And the Republican party "brain trust" (Karl Rove, Dick Cheney, Grover Norquist, et al) understand full well the coming financial crisis (won't begin until sometime in '13, or '14, at the latest) will be of such sever magnitude (in the Government's constipated efforts to force working people and poor people to pay for the next round of bail outs) that the party which holds the office of POTUS will subsequently be out of power for the next generation and a half, AT LEAST.
They got the Supreme Court (although, really now, tell me, how legitimate are the appointments fo the Supreme Court by an unelected President who basically ascended to office by appointment in a political coup of incredible obviousnous and magnitude), and the House and the Senate, and right now - they DO NOT WANT to Presidency.
My source's source, when asked about where he has his money, replied, "I pulled it all from the stock market; it's under my mattress" - you can't, truthfully, expect him to hold it in a bank that is someting on the order of 50-50 to fail, now, can you?
This is entirely consistent with the thoughts of John Williams, whose Shadow Government Statistics Blog ought to be mandatory reading for anyone and everyone who is invested in "the market."
Old Dow Jones, he will NOT save you!
