Killing the Debt-Crisis 'Godzilla'
Godzilla is now rampaging across the economies of the West out of control, according to the corporate media. How did this happen? Are the bankers and politicians to blame? No, it was the island nation's rescue that (supposedly) set the precedent. The debt crisis forced this extreme measure. Godzilla created itself.
Note the differences, however, between the low-budget horror movies of the 1950's and our real-life Godzilla movie. At least in the theater the army of Japan makes a valiant-but-futile effort to fight the monster. With our economic Godzilla now terrorizing Europe, what do we see "our army" of the bankers and politicians doing? Shrugging their shoulders and speculating about "who will be the next victim."
Maybe I'm being unfair. The bankers and politicians tell us they are "doing something" to battle the debt crisis. Let's take a closer look at their efforts to "fight" the crisis.
The bankers and politicians tell us they are "bailing out" the debtors. Sounds good since by definition the only way you can "bail out" an insolvent debtor is by either giving the debtor money or forgiving some/all of the debts. Except that's not what they are doing.What they are actually doing is lending more money to already insolvent banks and/or sovereign governments. I have previously characterized this as "putting out the fire with gasoline." This is incorrect. What the banksters and politicians are doing is adding new debt to the old debt of already insolvent entities. They are supposedly attempting to put out the fire with more fire. So the bankers and politicians are feeding Godzilla steroids and then getting the media to absolve them of any responsibility when Godzilla gets hungry.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV