Jas Jain says "US banks now hiding toxic paper"

Again, Jas Jain predicts a depression. The same prediction he made when I met him in 1998. He has been wrong about the stock markets but, to his credit, he was correct about the monkey business at Silicon Valley companies using stock options such as back-dating of options.

> From: Bruce
> To: "Jas Jain"
> Subject: Re: CountryFried Financial: "Toxic waste, finger lickin' good
> Date: Thu, 1 Nov 2007 09:08:22 -0700
>
> US banks now hiding toxic paper and related losses as the Japanese did in the '90s.
>
>
> http://ap.google.com/article/ALeqM5ihXHMrpUHdtown-KAdgh7Lvu040wD8SKPTT01
>
> This is a SIGNIFICANT development, Jas. China's central planners have lost control of a runaway economy and stock market bubble, fueled increasingly by US firms' massive investment, as well as speculative inflows in the past 12-18 mths.
>
> 10-11% real GDP growth is not only unsustainable but suicidal at this point with growing constraints, rising inflation, and social unrest: a runaway train at terminal velocity headed for a cliff.
>
> A hard landing in China-Asia, global recession, Asian Crisis II, and firming or rising US$ ahead.
>

Thanks, Bruce.

Can you spell G-R-E-A-T-E-R D-E-P-R-E-S-S-I-O-N?

I will keep my promise and deliver one! Pregnancy lasted longer than the usual, but it is going to be 15-pounder. A whopper.

Only the born-and-bred American dupes couldn't figure out, all these years, simple scams that banksters were running in the debt business, mortgages being just the extreme cases, with the help of the Fed, agents of the banksters. We have people 搑aised in the culture of fraud� in control of our financial system and the outcome was never be in doubt. First, Scam Options and now the Toxic Mortgages. Why regulate the free market. The crooks have pushed things to the extreme, as one would expect them to.

How to screw an American? In the name of freedom! Put crooks in-charge of loaning other people抯 money in the name of free market? I can抰 wait to see how this turns out.

Jas

PS: Sold all the remaining Jan puts on C (toxic financial waste site) and still holding tons of Jan puts on Fraudentials and some recent tech high-fliers.