To non-market participants it must have seemed as if the country was being defeated in a war that it was not told was ongoing. We are at a point of recognition; a juncture recognition where the last battle of this economic war may be about over if the market collapses further because the public may decide that paying taxes is out of the question.
After all, that is what is at the heart and soul of any government’s survival. It is no coincidence that one of President Bush’s last acts was to create a 20,000 militia for domestic disturbances. Forget about a mortgage boycott, if a tax revolt erupts we will have martial law sooner than later. Some of the cycles I study, which I will go into for Monday’s report, indicate that the current period should be the toughest for this country since the Revolutionary War and 1789 when George Washington was sworn in.
The anger being generated under the surface is growing on Main Street and Wall Street awaits more than eloquent or not so eloquent oratory. The market is at juncture recognition 50% down from its high as it tests the Train Tracks Reversal Signal from November.
Tax revolt, unrest and other themse are all things I am sure will happen soon. There is much unrest in the usa. None has bubbled up to civil unrest but there is already talk of 'tea parties' in the summer. In the end you can bailout the bankers and leave main street hanging. Especial when each day brings new outrage at the bankers.
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