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The future as I see it, through someone else's eyes ...

Today I read an article on the Web that I wanted to share because it jibes pretty much perfectly with my vision of the near future for this country, particularly in relation to its economic, social and political status. It's not a pretty picture. But it's what I see ahead.

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Question time again ...

Happy Halloween all! Last week, I threw out a bunch of questions I had been asking myself lately, and people seemed to enjoy the post, responding with some incredibly wise and insightful, or at least terribly smartass, answers. So, I figured I'd do it again, maybe even make it a weekly thing. Without further ado ...

1) Will there be more Jokers or Joe the Plumbers out there tonight? (If you're answering this and Halloween is already over, reply with the actual answer)

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Deadman's picture

The unspoken fear ...

Take a step back from the day-to-day machinations and minutiae of the campaign for a moment. Put aside thoughts about the final stretch of polls and stump speeches and negative advertising and robo-calls and ground games and electoral map strategizing, and consider the enormity of what this country appears to be on the brink of doing one week from now: Electing an African-American to the highest office in the land.

Given the history of this nation, it is a remarkable prospect. It is exhilarating. It is almost unbelievable.

And that is why it is also very frightening.

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Some quick questions ...

Do conservatives read liberal blogs (I suppose this one qualifies) with as much disdain and condescension as I feel when I read right-wing blogs (hotair.com makes me wanna throw things every time I read it). For some reason, I feel like even the most liberal of blogs at least acknowledge the other side may have something of value to offer.

What is Genghis (not to mention SarahPalinGrrrrl) going to talk about after Nov. 4 (OK, I'll give them a week of post-game analysis posts, but what then)??

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Deadman's picture

Enough!!!!!!

I've had it.

This country has been on engorging on a cheap credit binge for the last decade, stuffing itself on the sugar highs and empty calories provided by ultra-low interest rates and fancy derivatives and zero-down mortgages. Now the chickens are coming home to roost, and everyone is looking for a way to get their butt saved.

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How The American Dream helped create this American nightmare ....

You hear a lot of conservatives nowadays wanting to place blame for the country's current economic crisis on the Community Reinvestment Act of 1977, which encouraged commercial banks to lend money to borrowers in low-income areas.

The implication is that the CRA, enacted and significantly expanded under two different Democratic administrations, led to the creation and proliferation of the risky subprime mortgages that have brought the U.S. banking system to the brink of collapse.

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Here's the rally ... Now what??

OK, so I was a day or two early with my short-term bottom and violent rally call, but it's party time on Wall Street today with the markets almost up double digit percentages. (Uh, now more than double digits ...)

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We need more panic, not less ...

Damn, I thought I was going out on a limb when I called for a violent (though short-lived) rally to the upside. But if the press and the pundits who speak their mind in the press are any indication, that's a very crowded limb.

I've been watching CNBC A LOT for the past few days, and it seems like nearly everyone is looking at this crash as a great buying opportunity, telling people not to panic, saying a bottom is at hand and a violent rally is on its way.

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Deadman's picture

Short post on short selling and a short-term bottom ...

I think we're about to get a much-needed reminder that stock markets don't always go down.

Could happen today, could happen tomorrow, and it may or may not happen after one last big selloff, but we're going to get a relief rally very soon. I don't expect it to last long, but I do expect it to be rather violent and dramatic. Maybe we get back close to 11,000 on the Dow.

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Perspective on a Gray Monday ...

So, the market is down 555 points, almost 5 percent. Yet so far this is no October Black Monday, like when the market dropped 13 percent on October 28th, 1929 or when it dropped 22% on October 19, 1987. (Note: Things are moving fast, market down another 100 points since I started writing).

This is, in many ways, even worse - just another Gray Monday, where we get the continued, orderly drip-drip-drip of a market with no confidence, and no idea of where we are headed.

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