The Dimensions Of Our Doom

This post has since been updated. There is now a fourth component. If you’ve read this post before, come back to read the final piece.

This post is a permanent sticky. It will remain here even after the completion of this blog on December 31, 2008. Scroll down one for the latest posts.

On January 1, the first day of this blog, I did a post titled And Now A Word About Our Future….

I could see even then things were going to get Bad.

What I didn’t know at all were the total dimensions of our doom. Since then I’ve seen a bigger picture.

That larger picture has caused me to change my blog banner and create this permanent sticky post. Update: The fourth link necessitated yet another blog banner change.

Because what I see now scares the living shit out of me.

It should scare the living shit out of you too — and this post is your crash course in getting up to speed.

The End [link fixed]

“You have to understand this,” he says. “This was the engine of doom.” Then he draws a picture of several towers of debt. The first tower is made of the original subprime loans that had been piled together. At the top of this tower is the AAA tranche, just below it the AA tranche, and so on down to the riskiest, the BBB tranche—the bonds Eisman had shorted. But Wall Street had used these BBB tranches—the worst of the worst—to build yet another tower of bonds: a “particularly egregious” C.D.O. The reason they did this was that the rating agencies, presented with the pile of bonds backed by dubious loans, would pronounce most of them AAA. These bonds could then be sold to investors—pension funds, insurance companies—who were allowed to invest only in highly rated securities. “I cannot fucking believe this is allowed—I must have said that a thousand times in the past two years,” Eisman says.

Chronicles Of Depression 2.0: #364: Quadrillion

Some of the latest reports indicate that the total notional value of derivatives outstanding surpasses one quadrillion dollars. To put this into perspective, this amounts to almost 100 times the GDP of the U.S. economy. […] It stands to reason that the unwinding of those global imbalances is likely to be more painful today than it was during the Great Depression due to both size and scope.

AMERICAN GOTTERDAMMERUNG

I’ve seen posts elsewhere by people stating they’d rather see the collapse of the entire economic system instead of having the current alleged bailout go through. They believe they could live through the consequences of that.

They are so wrong.

I recommend bookmarking this post. I have a feeling at some point I’ll be adding a fourth link to it.

I have. Here it is:

Chronicles Of Depression 2.0: #427: 777

All sink or all swim?

I’ve been eleven months ahead of everyone else. In eleven months from now, 777 will be the inevitable solution.

In the meantime, all Chronicles of Depression 2.0 posts. Read them now.

Explore posts in the same categories: Bank Collapse Watch, C.O.A.T. - Belief, C.O.A.T. - Money, C.O.A.T. - Self-Defense, Depression 2.0, DOOM, Stock Market Crash Watch

7 Comments on “The Dimensions Of Our Doom”

  1. raincoaster Says:

    But are you going to update your header to 2009? Or is it not worth it?

  2. mikecane Says:

    No update to 2009. This blog is dead. And is a Zombie Blog now — because I keep having to come back to deal with Comments!

    I looked at all the WordPress themes yesterday to see if anything could be used for a new blog. Nothing is there. Man, do they need to get some new themes!


  3. […] To see how bad things REALLY are and what 777 is, see: The Dimensions Of Our Doom […]


  4. […] will he be like when millions begin to starve to death in first-world countries?! There’s a QUADRILLION DOLLARS OF FRAUD that can’t be swept […]

  5. lol Says:

    These banker scum have trading in derivative (default credit swaps and the like) writen more than the GDP`s of the world combined.These have turned into IOU pieces of paper you can wipe your arse with or jiz on. Buy cat food while you can. It will soon be a luxury. So will that nice toilet paper. If you go down to your local bank they will have some.
    We are all sooooooooo fucked.


  6. […] They are now revealing they see the same economic future I’ve been seeing. […]


  7. Hi. Read your blog about Gerry Anderson’s ‘The Investigator’. Think you wrote that!
    I saw the car and boat models used in the series today – in a museum in Stansted Mountfitchet in Essex. Worth a visit.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: