by John Galt
June 19, 2008
Beware the Ides of June.
Maybe it was something in the water or another saying but this month is turning out to make March of this year look tame by comparison. Rumors abound. Markets way out of whack. And the only thing consistent is the ability of Bubblevision and its minions to find sure fire new ways for you to lose money and the American sheeple ignoring the root of the problem, a corrupt private corporation that manages our monetary system.
There is a lot happening behind the scenes and that is why everyone should be concerned. I am not going to elaborate, basically because being sued is not my idea of fun. The two stories to stay focused on in the next five days are simple but at polar opposite ends:
1. Watch the regional bank situation. There is a recognition, finally, by the markets that construction loans are starting to default as predicted and the damage done by the entire spectrum of real estate is far far worse than anyone will let on to until it is too late. The myth that a residential real estate crash will not impact commercial projects is being pierced on a daily basis and the mindset of the local banksters and the regionals to give money to anyone that could fog a mirror is coming home to roost. I hope to elaborate more on Friday.
2. The Heller decision is imminent although I do think we get a breather until Monday the 23rd. When that decision comes down it could create a firestorm unseen in this nation in over one hundred and forty five years. Stay tuned as that edict coming from the Supreme Court will change American society for the next century.
It seems like these two stories are old friends or bad coins, returning when you least expect them. These stories, unfortunately, are new this time as their impacts will change our nation for decades to come. The banking system will not be the same soon and require massive regulatory changes which in the short term will impair capital flows and commerce. As for the Second Amendment issue, if you do not understand the impact of that decision coming up, you probably should not be reading this blog.
More stories tomorrow including my latest rant and raves about colonialism and more…..