Saturday, December 20, 2008

we all for sure has been tracking subprime mess that has been unwinding in america. the great capitalist nation called america has become the great bailout nation.

bear stearns - bailout damn it. merge with jp morgan
lehman - let it go down but hey its assets(??) owned by other insitutions bailout done
citigroup - yep sure, why not
bank of america, wellsfargo/wachovia - yep they can get couple of tens of billions in bailout
car companies (gm, chrysler, ford) - sure. around 20 billion quick money no probs.
credit card companies like american express - if they want sure no issues
fannie mae/freddie mac - whoops. well we have no issues bailing them out
countrywide financials - well didn't we merge it into bank of america??
goldman sachs, morgan stanely - no problem. but let them become banks first and then we can bailout them easy...

amidst this total collapse of 'free market' economy in america, one thing that has not been noticed is the plunge of oil from 150 to 40 bucks. a totally manipulated market oil prices seldom reflect the real situation.

india's petroleum minister is right when he tells oil is manipulated.
“Oil prices on a roller coaster have created only uncertainty. What we now need is to rediscover stable market with transparent regulations; the market where producers as well as consumers find equal respect,” he said.

he is absolutely right. in name of 'free market', 'trading', 'globalisation', america has let loose the monster of greed, corruption and deregulation.

what we, as a world, need is not 'free market' but 'correct markets' and 'common sense markets' and 'common sense regulation' and cutting down speculation in name of higher maniac growth.

ok now. should we bailout oil from 40's back to 100's or is 40 itself a huge price for oil which probably should go into 20's if world economy shrinks further?


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