CHAPTER 9 or CHAPTER 11
Today, Wednesday, the global money market is rebounding as FED has announced to prepare $85 billion to rescue A.I.G. after Lehman Brothers filed for Chapter 11 bankruptcy.
Nonetheless, it is time for parties concerned to review the Great Depression, though you do not have to be upset since the new Great Depression might be contained within Wall Street though Mafia-like workers there might not repent, according to the Revelation Chapter 9.
SECTION I: REVELATION CHAPTER 9
Last night, namely after having watched a late-night TV news program, I saw Japan’s Prime Minister in a humble dream.
No specific conversations happened between me and the Prime Minister; but in front of us there was a big mountain whose upper part had been violently scraped off in a large scale due to overdeveloping since it looked being full of valuable mines.
Indeed, there must be some American politicians checking EEE Reporter, since EEE miracles have happened here and there as I pointed at the following paragraphs of the Bible:
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Rev 9:11 And they had a king over them, which is the angel of the bottomless pit, whose name in the Hebrew tongue is Abaddon, but in the Greek tongue hath his name Apollyon.
Rev 9:12 One woe is past; and, behold, there come two woes more hereafter.
Rev 9:13 And the sixth angel sounded, and I heard a voice from the four horns of the golden altar which is before God,
Rev 9:14 Saying to the sixth angel which had the trumpet, Loose the four angels which are bound in the great river Euphrates.
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I interpreted this part, regarding “One woe” as the 9/11 Terror and “tow woes” as the Afghan War and Iraqi War.
But, the former can be Bear Sterns and the latter can be Lehman Brothers and Merrill Lynch.
And, note that this Chapter 9 has only 21 Verses or paragraphs, meaning that the horrible terror or woes would happen on the 11th day of the ninth month of the 21st century, namely Sept. 11, 2001.
Truly Rev 9:21 reads: "Neither repented they of their murders, nor of their sorceries, nor of their fornication, nor of their thefts."
Tell Mr. McCain that fight must be on Wall Street and Mr. Obama that change must be in Wall Street, for it looks like requesting full cooperation of the Democratic Party and the Republican Party to suppress the anti-Christ behaviors in Wall Street which might incur more anger of God in the form of huge financial losses.
Finally check the rapid growth of the credit derivative market and the credit default swap (CDS) market, as Lehman Brothers has more assets in CDS than Bear Sterns had.
Rapidly expanding in these years along with subprime loan business, the credit derivative market and the credit default swap (CDS) market have now the size over $33 trillion (U.S. GDP is about $14trillion), respectively, while buying and selling risks on credits:
(Click to enlarge.)http://www.fsa.go.jp/singi/singi_kinyu/s_group/siryou/20070510/01-2.pdf
Solution Mr. McCain or Mr. Obama should present must include prohibition on reliance on CDS, because some experts point at CDS as a key factor to the recent financial crisis triggered in Wall Street after exposure of subprime-loan frauds.
SECTION II: DECLINE OF THE DOLLAR
Though I have not seen CNN or BBC TV programs nowadays due to some contractual issue, Mr. Paul Krugman made a TV appearance and wrote some on it:
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September 16, 2008, 2:15 pm
Larry King not so live
So last night I was on Larry King Live, dressed in my TV-from-the-Princeton-studio uniform: dress shirt, jacket, tie, shorts, and sandals (the camera doesn’t pan below the belly button). With me, Andy Serwer of Fortune and Stephen Moore of the WSJ.
Moore offered an argument I hadn’t heard before. The reason I hadn’t heard it that it’s really, really stupid. Our financial problems, he said, are caused by the falling dollar, which has reduced the value of American assets. It’s hard even to know where to start on that. But, um, we’re talking about balance sheets here; by and large the United States has liabilities in dollars (e.g., Chinese holdings of agency debt), while we have many assets that are, effectively, in foreign currency (Ford Germany is worth more when the euro rises against the dollar). So America’s balance sheet improves when the dollar falls, which is actually a major issue in international macro modeling.
Plus, the weak dollar is good for exports, which are about the only source of strength our economy has.
But the WSJ crowd is deeply attached to the idea that a strong dollar = a strong country (and if you believe in America, you believe that asset prices only go up, too). So reason has no impact….
http://krugman.blogs.nytimes.com/
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Yes, unlike the last Great Depression in late 1920’s, global citizens might be more plagued by the unstable foreign exchange market in the next Greta Depression.
To avoid a critical impact, the role of G7 will become all the more important despite adverse opinions based on poor observation of the one billion Chinese as a burden on the Chinese financial sector.
In addition, Mr. Krugman gave some clues to prospects of economic policy Mr. McCain and Mr. Obama would adopt:
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Obama has called for expanded regulation, while McCain takes his advice from people like Phil Gramm, who helped create this mess. Plus McCain’s new line denouncing excessive executive bonuses makes no sense: Washington doesn’t set executive compensation! Unless McCain is willing to say what he’d actually do, it’s empty posturing.
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Anyway, I wish that Mr. Larry King would live long with his friends in New York.
And, Paul, they are talking about crude oil whenever they are bringing on the weak-dollar issue as the crude oil prices have globally come down since Wall Street stopped to infuse dollars in the oil market.
SECTION III: CONSCIENCE OF U.S. LIBERALS
Mr. Paul Krugman wrote the book "The Conscience of a Liberal."
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Product Description
America emerged from Franklin Roosevelt’s New Deal with strong democratic values and broadly shared prosperity. But for the past thirty years American politics has been dominated by a conservative movement determined to undermine the New Deal’s achievements.
Now, the tide may be turning–and in The Conscience of a Liberal Paul Krugman, the world’s most widely read economist and one of its most influential political commentators, charts the way to reform.
Krugman ranges over a century of history and shows that neither the American middle-class nor the baby boomers grew up in the increasingly oligarchic nation we have become over the past generation evolved naturally: both were created, to a large extent, by government policies guided by organized political movements.
The Conscience of a Liberal promises to reshape public debate about American social policy and become a touchstone work for an entire generation.
http://www.amazon.com/dp/0739358669?tag=saloncom08-20&camp=14573&creative=327641&linkCode=as1&creativeASIN=0739358669&adid=0YNJEHD0191EPNFC486N&
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In short, Mr. Krugman found that there had been 30 year efforts from the Great Depression to 1950’s for the Federal Government to bolster lives of humble citizens, workers, laborers, and poor people in the United States.
This finding coincides with other results of non-nonsense research in that the aftermath of the Great Depression had ensued until the end of WWII or the damages brought by the Great Depression in the end of 1920’s had been finally conquered and wiped off in 1950’s.
However, the key point Mr. Krugman raised is a racial issue.
Put simply, as African Americans expanded the scope of their rights and social activities so widely through 1960’s and 1970’s (sometimes radically along with anti-Vietnam War movements), some European Americans came to fear of losing their dominance; Accordingly, the late Mr. Ronald Reagan exploited this mood among conservative European Americans, thus taking economic policies to make rich European Americans richer so as to be elected himself as U.S. President.
Since then, the gap between poor African or Hispanic Americans and rich European Americans has never showed a sign of diminishing.
Indeed, in order to preserve this gap, the upper class of European Americans would even accept the bankruptcy of Bear Sterns, Lehman Brothers, and Merrill Lynch if not A.I.G.
But, miscalculation and missteps can happen at any time in their financial and political operation, since the challenge far exceeds the level of their smartness.
And, frankly speaking, super-rich European Americans are a minority in the democratic country the United States of America.
Additionally, the above book is also introduced in Japan under a certain Japanese title meaning "The Gap Was Created."
( http://mainichi.jp/enta/book/hondana/archive/news/2008/09/20080907ddm015070013000c.html )
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Autumn is the season of art especially in Japan.
Many awards and prizes are being offered to various artists, players, and performers.
Of course, my photos can be appraised in future as one set of symbolic works of art in the early 21st century.
(So, if you are taken into a picture by EEE Reporter, it may have a huge value in future, though probably after we are gone.)
It is not a matter of superficial techniques and decorations but something that cannot be measured and analyzed with a brain contaminated by money.
Indeed, there are many Europeans, Americans, Chinese, Indians, and Russians working in the financial sector in Tokyo without uncontaminated brains.
That is why I am telling you not to trust super-rich men in Tokyo, without mentioning those in London, New York, and Shanghai.
It is because they cannot even interpret Chapter 9 of the Revelation of the Bible.
(It is said that the greatest dancers in the history of mankind are Nubian girls, if you can be a kind of Cleopatra, though I don’t care since there are so many Chinese in Sudan nowadays:
http://homepage3.nifty.com/yodonokofune/m_dance_antigue_nubias.mid
Source: http://homepage3.nifty.com/yodonokofune/concert2pr_017.htm)
Gen 9:17 And God said unto Noah, This is the token of the covenant, which I have established between me and all flesh that is upon the earth.
Gen 9:18 And the sons of Noah, that went forth of the ark, were Shem, and Ham, and Japheth: and Ham is the father of Canaan.
Gen 9:19 These are the three sons of Noah: and of them was the whole earth overspread.
Gen 9:20 And Noah began to be an husbandman, and he planted a vineyard: