More on the Lost Liberty Hotel
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"America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." -- opening lines of 101 Things To Do 'Til The Revolution by Claire Wolfe
The car came out of nowhere. She didn't see it before bouncing off of its fender, landing just off the side of the road from the direction she had come. Her friend was a few steps in front of her and took the force of the metallic beast full on. It threw him some 50 feet up the road and slightly to the side. He lay there, still, with no signs of life.
I will start off with one comment that is so blatantly
stupid that it was instantaneously perceived as such by
practically everyone. I intended to do an essay on this one
item alone, but by the time I passed the comment around,
three other blogs were already reporting on it. In case you
missed it however, here it is: Federal Reserve Bank of
Dallas President Richard Fisher said this to CNBC on
"Where would the world be if Americans did not live out
their proclivity to consume everything that looks good,
feels good, sounds good, tastes good? We provide a service
for the rest of the world. If we were running a current
account surplus or trade surplus, what would happen to
economic growth worldwide, and what would be the economic
consequences? So I think we are doing our duty there."
Now let's take a look at what Mr. Alan Nevin, chief
economist for the California Building Industry Association,
said this week:
"People have the ability to borrow against their homes. If
times get tougher, they could borrow a sufficient amount to
pay their mortgages."
Another startling revelation! Borrow money to pay your
You're the boot.
Stomping on the human face forever.
You're the eye.
Staring down on everyone and ever seeing all.
You're the lie.
Twisting all our minds into your whoredom.
You are Death.
You are war.
You are slavery.
You're the law.
You're the law.
You're the law!
When laws spew like vomit from power-drunk tongues
And freedom's a lie that the old tell the young
Then out of the darkness,
The rebels arise
And on that day the Outlaw, the Outlaw will ride.
When spies and lies choke out the spirit of life
And authority scrapes like a rusted dull knife
Then out of despair
The heros will soar.
On that day the Outlaw, the Outlaw is born.
Fire in the mind.
Freedom on the firing line.
When "for your own good" is a lock and a chain
And "security's” used to enslave hearts and brains
Then out of our bondage
Rebellion will fly.
On that day, the Outlaw, the Outlaw will ride.
When criminals, criminals make all the laws
Then anyone breaking them fights a just cause.
So don't obey leaders
And don't follow rules
And the Outlaws, the Outlaws are saviors, not fools.
So crush their damned spycams, rip open your cage
Let liberty loose with a howl of wild rage
Each tyrant you smash
Is a freedom you've won
And the Outlaws -- we Outlaws – put power on the run.
(Repeat chorus to fadeout)
Lyrics by Claire Wolfe. Concept by Aaron Zelman. (c) 2005 Claire Wolfe and Aaron Zelman. All rights reserved. Lyrics may be copied, shared, or used for non-commercial purposes, as long as they are accompanied by this full credit and copyright line. Anyone wishing to record or otherwise use “Justice Day” lyrics for commercial purposes should contact RebelFire Press (www.rebelfirerock.com)
Interest rates will go up. Puff goes the American housing market. Down goes the dollar.
All of which is to say that there is a lot less support to the dollar than meets the eye. The dollar is simply GM in waiting. U.S. bonds are distressed debt owned increasingly by fund managers desperate to eke out a few basis points here and there. This is not the bedrock of a strong rally in a currency.
The dollar is a long-term sell. But if not the euro, what will it fall against next? Well, while the dollar rally story is shallow, the commodity bull story is still deep and rich.
When the dollar falls again - which it will - it will also fall against Asian currencies, especially in anticipation of a yuan revaluation by Bejing. It is possible, of course, that the dollar can remain stronger for longer than anyone expects. But the whole currency regime can come crashing down much more quickly than anyone expects as well.
It doesn't happen often. But it does happen, and when it does, it happens despite the fact that most people think the world will always work the way it works today.