Funny. I'm in Burbank CA, right now, touring around. All the market chatter and concern, but probably 99% of Americans and Canadians don't even know it's happening, or know what ABCP or any of these other things are.
Most people don't even know that a depression style run happened on a major bank on Friday. The news is so couched in technical language. But at the end of the day, a bank that was trading at $80.00 sold for $2.00. And that rate was funded by the Federal Government. A bankruptcy by any other name is still a bankruptcy.
Why is it that the people entrusted with knowing so much, with controlling our destinies, are so foolish?
As I've said before, I'm all in precious and industrial metals, and staying in. I guess time will tell if I'm right. But if the U.S. dollar crashes some more, maybe I'll buy a truck while I'm down here. I can always turn it into a nice Bennet buggy if I can't afford the gas.
MR