Sunday, January 20, 2008
Tidal wave of shit about to hit!
MBIA and Ambac are set to fail in the next month. (Two largest mortgage insurers AKA bond insurers out there) The bond market is going to fucking cease and in the end this means that your bank will go under and a deflationary depression is about to set upon us! Muni bonds are shitting themselves and the commercial paper market (what fuels the line of credit that your employer uses to make payroll in between A/R gaps in the pay/bill cycle) will have evaporated. I can't hardly wait!
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