Fed “money” creation here: http://3.bp.blogspot.com/_FM71j6-VkNE/SjMUvXf0nnI/AAAAAAAADRM/2vFinzD78f8/s1600-h/Fed+Treasury+Purchases+6.12.09.jpg

US personal wealth destruction here: http://panzner.typepad.com/.a/6a00d83451591e69e201157001a395970c-pi

Seems like it’s bad when they move in opposite directions like that, doncha think Tom?

And I told you there would be no more dodging the gang-related gunfire while enjoying the $10 cokes at Magic Mountain anymore: http://tinyurl.com/nlc4dh

Oh, and all your fancy friends with fancy loans are gonna lose their houses next year when the rates reset on the places they bought that are now worth about 50% less than what they paid (notes added by DoctorHousingBubble.com):

And you can forget about anyone buying these bloated Valley shitboxes since California U6 unemployment is a lock for 20% in 2010: http://www.ritholtz.com/blog/wp-content/uploads/2009/01/1208ump4.png

I guess it’s all fine when poor people lose their houses since they’re used to the man fucking them and crushing their dreams. But just wait till the whiny-ass middle class folk start losing their Shermy manses and multiple Lexi (plural for Lexus?). I’m guessing the first time the .gov does anything meaningful to help housedebtors will be when the Alt-A loans fuck the “wealthy” (not sure what to call this whole debt = wealth thing yet—gimme a minute on that). It will also be the first time in this crisis that the middle class starts to give a fuck, because now they’ll be giving a fuck about themselves—which is what they have always done best.

When you think about it, it’s starting to shape up a little like the French Revolution—the whole petit bourgeoisie and sans culottes uprising thing over a financial crisis brought on by repeated expensive wars and deteriorating health conditions? (See, Tom, France staged a pretty convincing socio-political rebellion in the late 1700s…eh, nevermind.) And with the Governator swinging open all the prisons due to state insolvency, we won’t even need to have a Bastille Day. Can’t wait.

Happy Hugs,

The Abyss