Free for all in the market place

The current instability in the markets has intensified. Commodities once the safe port in the subprime storm are in turmoil, wot, with gold and oil and even wheat losing within a few days 15 per cent of crest prices. The self satisfied bankers in Europe proudly proclaim that the might Euro can withstand the wrenching strains on the global financial system? Can they? That remains to be seen, doesn't it? Already the governour of the Bank of England has had to step in as a lender of the last resort. The toilet room attendent Ben Bernanke at the US Fed is already trying to clean out the Augean stables of America's banking institutions by being throwing them a life line as we have seen in the case of the collapse of Bear Stearns. The blockhead Hank Paulson secretary of the US Treasury and once the baron of Wall Street as the head of Goldman Sachs, with a tinge of banker's envy and revenge, did nothing to help save Bear Stearns. The fall of the house of Jimmy Cayne who ruled Bear Stearns has thrown the world markets into a tumble. Credit is drying up under a Saharan wind of mounting temperatures of the excessive hot potatoes of financial instrutments that are COS, ABS, and the like, the inability to meet mortgage payments, credit card debt, falling retail sales, rising food costs, rising motor gasoline prices...and the litany in a rosary of economic woes and sorrows is just beginning. Herr Bush utters meaningless words of pie in the sky and shucks the crisis is being contained. Eyewash! His minions at the Fed and the Treasury are running around like chickens with their heads lopped off to save the big banks from a krash...Bernanke is hearing the old marching music from 1930 when the US banks toppled, tumbled, and krashed, thus ushering in the Great Depression. Owing to the greed of America's bankers and their short sighted ideas and goals everyone is running for the cellar to ride out the economic whirlwind they are reaping. No one is safe not even the mighty Euro...even the sheiks who hold the Petro dollars are suddenly finding restive foreign workers whose earnings in US dollars have so depreciated that they find they can hardly feed families back at home in south and southeast Asia. These tight little emirates are fearful that this discontent will spread among their own people spared from the harsh labour foreigners do and thus are a threat to their thrones and crowned head. And then there's the war which is the 10 tonne gorilla which no one speaks of. The list is seemingly endless of the ripple effect that suddenly turned into an eddy sucking everyone down by the collapse and the steadfast refusal of the big banks and the US government to save Bear Stearns