Mr. Paulson: When You Fire The Bazooka, Remember to Say “Booyaaah!”. Now. Hurry! Asian Markets Open Soon.
Sunday, September 7th, 2008
This CNN story about setbacks in pro-democracy movement in Hong Kong at first do not appear to be related.
However, when you stop and think about what it symbolizes, your eyes will widen and you will experience a tingle on the front of your forehead.
Don’t worry. It’s called nervous twitch.
Hong Kongers are voting to return to the days before everything was “improved”… the days before life was “more interesting”.
They are voting in symbolic “flight to quality” where they feel safer about wages, inflation and a system where who you know matters. Yup.
The problem is Hong Kongers don’t know who Fannie and Freddie are now. And the HKMA will feel more political pressure to follow the lead of the Chinese mainland take advice to liquidate– not reduce their stakes, not re-allocate their positions — liquidate anything rhyming with Fannie and Freddie from their financial system.
So, Mr. Paulson, when you bring out the bazooka as Bill Gross recommended, remember to bend your knees and when you fire, don’t forget to say “Booyaaah!!”
You have 5 hours to complete the Fannie and Freddie takeover before Asian Markets open.
