Watch The Other Hand
The TSA Molocaust continues, but, as several commenters have noted, where is Leviathan's other hand and what is it doing?
Consider these posts by Denninger:
The Ben Bernank: It's A Depression And I Should Be Imprisoned
MERS Lobbyists Descend....
ALERT: Casus Belli - Ex-Post-Facto Law!
Read these posts and see if these crib notes fit your understanding:
1) The major US banks are broke, due to the hundreds of billions of dollars in unrecognized (and unrecoverable) residential and commercial mortgage losses currently hidden in their financial records.
2) The pension funds and other holders of the securities created from those now-severely-impaired mortgages may be even more broke, as the transfers involved in the creation of those securities may have been in violation of applicable state law.
3) If there isn't a whole heaping helping of legislation passed asap by the lame-duck 111th Congress to legitimize both those transfers and the resulting securities retroactively, the Doomsday Debt Machine of points #1 and #2 above will detonate and devastate both the American and world economies (along with many of the world's governments).
Sound about right?
Does all of the groping and poking and related diversions make more sense now?
Do you have a better explanation of what the other hand is doing while one set of the .gov's fingers is wrapped around your testicles?
Please share if you do.