-- Posted Sunday, 24 February 2008 | Digg This Article
| Source: GoldSeek.com
A lot of things make me crazy, like watching a Fed chairman on TV as he testifies before the Senate Banking Committee, and I feel that the straps holding me down in the chair are working loose, meaning that I will be free, free, free to get right up to the TV screen, my nose almost touching it, to make sure that the damned Fed chairman sees me and knows that I am out here watching his every damned move, and I am so close to the screen that I know he can read my lips as I scream at him, as loud as I can, at every lie he tells, and I am loving every high-decibel moment of it.
Well, that happy circumstance did not occur because one of the kids saw me working the buckles loose and yelled out, "Mom! Mom! He's getting loose!" whereupon they all came rushing in with a whoop and cinched everything up, good and tight. Damn it!
But almost as good is when Mike Whitney, writing at InformationClearingHouse.com, writes, "Even veteran Fed-watchers were caught off-guard by Chairman Bernanke's performance. Bernanke was expected to make routine comments on the state of the economy but, instead, delivered a 45-minute sermon detailing the afflictions of the foundering financial system. The Senate chamber was stone-silent throughout. The gravity of the situation is finally beginning to sink in."
And what is the "gravity of the situation" that is sinking in? I am glad you asked! It just so happens that the latest product rollout from Mogambo Money-Maker Industries (MMMI) answers this very question in a thrilling 12-hour lecture from me, The Mogambo, about all the zillions of terrible things that will happen as a result of the economic stupidity of allowing such disastrous expansions of the money supply.
And the video is a real bargain, too, as the sheer enormity of the bad things that will happen is so great that even a 12-hour lecture is insufficient to describe what will happen, and I must talk so fast that it is a hell of a bargain when measured in Miseries Per Second (MPS) of run-time. So you can see that the video is a real steal at $499.99! Order one today! Or two, as they make great gifts!
And in case anyone is stupid enough to order one, I will either just cash the check and forget about delivering anything (which gives me a profit margin like you would not believe!), or use the money to buy a cheap videotape recorder, make the video of me running my loud mouth for awhile, and hire a lot of pretty dancers to prance around in the background in that special "Girls Gone Wild!" way that guarantees high sales, especially from that coveted "young adult male with disposable income" market segment.
Well, Mr. Whitney is not remotely interested in my terrific videotape offer, investing in production of the videotape, or even paying for a tasty pizza to be delivered while we discuss it, which I was perfectly willing to share with him, probably because he recognizes the obvious scam, and is pretty fed up with the whole thing. This explains why he cut things short and suddenly flipped to the last page of his speech where he says, "So, let's summarize. The banks are battered by their massive subprime liabilities. Housing is in the tank. Manufacturing is down. Food and energy are up. Unemployment is rising. And consumer spending has shriveled to the size of an acorn. All that's missing is a trumpet blast and the arrival of the Four Horseman."
Well, if he would rather await the arrival of the Four Horsemen of the Apocalypse instead of awaiting the arrival of the postman bringing my fabulous video, that's his business. Either way, you get the general idea; we're freaking doomed!
And if you wonder exactly what I mean by "doomed", I will demonstrate by telling you that the video I am offering you is priced $499.99 today, but it will be $699.99 next year. You figure it out.
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Editor's Note: Richard Daughty is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the editor of The Mogambo Guru economic newsletter - an avocational exercise to heap disrespect on those who desperately deserve it.
The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning and other fine publications. Click here to visit the Mogambo archive page.
-- Posted Sunday, 24 February 2008 | Digg This Article | Source: GoldSeek.com
