Maria Bartiromo goes on The Welfare Channel

Markets
The sharks won. Hell they even had a catchy tune for it:

When that shark bites with his teeth, dear
Scarlet billows begin to spread
Fancy gloves though has Macheath dear
So there's never, never a trace of red

And we sang and danced to the music composed and directed by the sharks. A trace of Red? How about an ocean of red? Now the question is: How do we get out?

Everybody is looking for a "V" or "W" chart bottom and I just point out that the phrase "everybody is looking" is too scary for words. "Everybody" stayed in this fucking thing months after they should have closed out their positions and now we are listening to them? (see chart in next post) People will see a "V" or "W" bottom in every bank closure. Precisely because too many people are looking for those formations they either won't happen at all or the formations themselves will be a false signal. Next you will hear that an inverted head and shoulders is forming, a sure signal that happy days are here again, the skies above are blue again, but with every TV bimbo breathlessly yelping about it you can bet the head on the inverted head and shoulders (is anything worse than Fox Business Channel?) will be lodged firmly in the old chocolate highway. I don't know what signal, if any, could possibly identify a bottom beside rising prices.

The biggest problem in the market is too many smart guys, too many MIT grads who have "figured it out," an overload of lions in the pride who learned in the best schools that sweating while working is for suckers. The dopes with callouses on their hands are saps. When those MIT/Ivy types of people lead any business, misfortune follows. Their powerful minds are always working at the age old task of finding the "edge." Even now you can find them assembling in foreclosed luxury condos in Miami or shuttered banks in Zurich staring at their laptops and charts figuring out how to further advance their quest to become Masters of the Universe, if only they could find two more products to straddle, two more commodities ripe for the ol' strangle play; or in the words of Bob Fosse, the ol' razzle dazzle.

Give 'em the old razzle dazzle
Razzle Dazzle 'em
Give 'em an act with lots of flash in it
And the reaction will be passionate
Give 'em the old hocus pocus
Bead and feather 'em
How can they see with sequins in their eyes?

What the smart guys don't get, and what you better get, is that capitalism is over. Get the fucking sequins out of your eyes. The government already has seats on the boards of directors in the banks and when Obama gets elected you can be sure the first thing the Democrats will do is to make those intrusions permanent. Our government "services" will next be let loose on the car business, mining businesses, and any business that might make somebody "too rich."

It's over. Look for Maria Bartiromo on The Welfare Channel next month standing in some Health and Human Services office interviewing alcoholics and retarded people, teaching us all how to fake afflictions and disabilities in order to get more government handouts.

Karl Marx himself couldn't have drawn it up better if he tried.
Below: The absolute anthem for Wall Street: "Razzle Dazzle" from Chicago



As a side observation, Richard Gere smokes Ben Vereen (seen at link) in his Broadway stint and who comes across as the typical Broadway phony actor.