Saturday, September 27, 2008

Wall Street Crisis, The Depression, and Bail-Out

Call this a special edition of Election Astrology. 

Scanning several astrology blogs for campaign news, I keep coming back to Ray Merriman’s site. He’s a professional astrologer and president of The Merriman Market Analyst, Inc. For years now, banks, financial institutions, investors and traders have used his financial prognostications, and he’s even written astrological software enabling traders to spot potential turning points in stocks. If you’re interested in financial trends, I encourage you to explore his website.

Or you can go ahead and laugh. Just keep in mind that J.P. Morgan said, “Millionaires don’t use astrology. Billionaires do.”

So here’s Merriman’s take on the current Wall Street bail-out being negotiated in Washington.

Are you kidding? I mean, seriously, as a Financial Astrologer, or student of Astrology, would you really recommend the White House and Congress to rush through a $700B bailout agreement that could bankrupt the country in a “New York minute,” just as Mercury is starting its retrograde motion (September 24-October 15)?

Basic Astrology 101 teaches us not to make hasty decisions under Mercury retrograde, for inevitably (or so it seems), the matters agreed to do not work out well, or at the very least, require substantial modification afterwards. The idea is that one does not know, or adequately understand, all the facts required to make a well-informed decision. To say that not all the facts are known in this “Financial Rescue” proposal of Treasury Secretary Hank Paulsen, would be an understatement.

In somewhat typical Aries fashion (Paulsen is an Aries), the Treasury Secretary warns that failure to act at once will send the economy into a serious recession, an economic crisis. Not that anyone who has been reading this column for the past nine years would be surprised (yes, we began forecasting the period of 2008-2015 as a potentially very serious economic crisis period for several years now, based solely on Financial Astrology), but still, when the fullness of the crisis hits, the last thing you want to do is to compound previous mistakes by making agreements in haste before all the ramifications are considered clearly. And that is exactly the danger posed when Mercury is retrograde – especially when Venus (and soon Mars) are in the economic-crisis sign of Scorpio, and most especially when Saturn, Uranus, and Pluto are quickly moving into their T-square formation, a pattern that has not been seen since 1930-1931.

People ask me all the time if I think there is any possibility of a 1930’s Depression again, and my answer is, “Yes. But there doesn’t have to be." After all, the outcome is always the result of a combination of planetary cycles AND personal choices of our leaders. Historical cycles don’t have to repeat, but they are doomed to repeat when we fail to apply the lessons from those previous times.

Click here to read Merriman’s complete column.


ludmil said...

This bailout is nothing but racket shoved down the taxpayer throat from the "Big Fat Wall street Cats" organized with the help of politicians.If you do the simple math is $10,000-15,000 tax on every person in America-toddler or retired.What happened with all those CEO who were paid big fat "Golden para shoots" for their "Stellar"performance.The most scary part in this 3 stage bailout is stage #2 where "Il Presidente" will have the single power to distribute 100 Billion wherever his wish will be.POWER + MONEY= VOLATILE MIXTURE.

ludmil said...

After searching the blogs i came across with this: Who is Putting “Intense Pressure” on Bush and Congress to Pass the Bailout?

George Washington’s Blog
Sunday, Sept 28, 2008

An article in CNBC states, “The U.S. Congress and the Bush administration were under intense pressure on Saturday to negotiate a $700 billion rescue”.

Who is putting intense pressure on both the White House and Congress to pass the bailout?

Not the American people, who overwhelmingly oppose the bailout.

Not American economists, former treasury secretaries, chairmen of the FDIC, or the Congressional Budget Office, who all say that the bailout won’t work, and will actually harm the economy.

So who is putting the intense pressure on our government?

Maybe its just America’s financial elite.

But consider that many financial analysts say that the real reason that the government bailed out Freddie and Fannie is because China demanded it. And there were rumors last week that China instructed its banks to stop lending to U.S. banks. The U.S. owes trillions of dollars to China which, along with Japan, Saudi Arabia, and other creditor nations, is keeping America afloat. If they pulled the plug, the U.S. would instantly default on its obligations.

They say that economics and finance are now global. Perhaps corruption, blackmail and tyranny are also.

Gregory LeFever said...

Very interesting comments, Ludmil, especially about the pressure being applied to the White House and Congress to enact the bail out. America's "financial elite" could well be behind it.

Just this morning, we see another example of rapidly consolidating financial strength as Citigroup takes over Wachovia. The New York Times says that now just three entities ~ Bank of America, JP Morgan Chase, and Citigroup ~ have 30% of all deposits in the country. That's a huge concentration of wealth and power in just three places, now able to essentially tell the government what to do.

What's so interesting to me about all of this is that no one seems to fully understand what's going on. Even the best Wall Street pundits are at a loss to explain what's really going on and what the likely implications of any move will be ... except to quickly pass the bail-out plan.

Thanks again for supplying some concepts in your comment that may shed some light on the situation.