TigerTom Blasts The Iniquitous

Are you confused by the current economic crisis? Yes? Well, here’s what’s happened and what is happening and what will likely happen in the future. Past: The Clinton administration funded fat mortgages to poor people on poor-quality housing. A lot of paper was issued, backed by this debt. When supply increased way beyond demand, the [...]

Barack Obama is the new Tony Blair. He looks good, has a very organised machine behind him, says vaguely positive things but nothing definite. "Change, we can believe in!" That is a meaningless statement. I’m surprised people fell for it; it’s crass marketing. What change, exactly? It allows people to read what they want into [...]

The dullards want ‘business as usual’. They’re propping up bad banks to try to keep a damaged dream alive. It won’t work. The world is running scared. Good money was paid for bad paper. This illusory wealth must be bled out of the system like air out of a radiator. It would be smart to [...]

I predicted the current recesson back in 2005, in this blog. Wasn’t hard. Lots of other people knew the credit boom couldn’t last. What’s surprising is that our leaders in the US, UK and Ireland pretended it could. What’s chilling is that they might have believed what they said; that it was only a ‘correction’, [...]