Mad Money Machine

MMM-131: Teetering on the Edge of Disaster

Japanese banks. Trillions lost. Jim Rogers and Peter Schiff on the tsunami. George Soros. Mark Hebner’s Resilience of Capitalism. My personal investment results.

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Topics in this week’s show include:

• Bad news from Japanese banks (see below)
• Retirement accounts have lost $2 Trillion so far
• According to the Dow Jones Wilshire 5000 “wealth meter,” the bear market has destroyed some $7.4 trillion in investor wealth. That’s more than the combined annual GDPs of Japan and the U.K.
• Jim Rogers on the Tsunami. Feeling now backed by fact: “In the short term, there will be widespread asset deflation and currency crisis, followed by a large-scale inflation that is the result of current government actions and decades of debt.”
• Peter Schiff: “Convinced that the bailout will actually work, and that foreign governments are derelict for not launching similar plans, global investors are fleeing other currencies in favor of the dollar. Soon investors will discover that foreign politicians and central bankers have acted responsibly. When they do, the current gains seen by the dollar will reverse violently.”
• Guru: George Soros http://www.pbs.org/moyers/journal/10102008/watch.html
• see his photo at obamamessiah.blogspot.com

• Learning Earning: The Resilience of Capitalism

• “Patriots: Surviving the Collapse“
• Bretton Woods 2? 
• FDIC Bank Fail count is 15
• Peter Schiff must have been listening: Wall Street Unspun now a podcast
• Play clip from show 89
• Posted by Karen DeCoster on LewRockwell.com From Manuel Klausner:

  I guess have to start off by saying it’s a joke, otherwise I’ll get into trouble. 

  Bad news from Asia this afternoon as Japanese banks are the latest to be hit. Apparently,

  * Origami Bank has folded.

  * Sumo Bank has gone belly-up.

  * Karaoke Bank has gone for a song.

  * The Bonsai Bank is cutting back its branches.

  * Yesterday, shares in Kamikaze Bank were suspended after they nose-dived.

  * Samurai Bank is soldiering on following sharp cutbacks.

  * Ninja Bank is reported to have taken a hit, but they remain in the black.

  * Furthermore, 500 staff at Karate Bank got the chop.

  * Analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.

Music from music.podshow.com:
ALTA PLAZA – XRAY DOGS
Loop – Plastic Soul Band
Money Control – Voide
Runaway Train – Under Feather

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