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Of Saviours and Messiahs

March 23, 2008

I have got a question.Foolish though it may be. But a question nevertheless.
Are Messiahs fallible?

I mean, those saviors with a halo on their head, not spreading sermons, but working miracles. The impossible ones, which often exalts them from the ground of common men, to the altars of sons of God and angels. You are getting my drift right?
A few months back, a leading newspaper ran this quote:

You should not be worrying about our economy because Fed is cutting.
But you should be worrying because you probably should start now.

Five months back DJIA rallied, huffed and puffed and thanked Fed for its generosity. When the economy runs itself, on the slick shiny road of lending and borrowing, it feels good. But the chances are there is a higher chance of slipping. So what next?


So when the party was about to get over, Fed jumps in and says,

“Hold it! Boys, take this and hit the pubs tonight. Yeah, but watch out for that shiny road. Ciao Enjoy yourself!”

And there goes the boys partying. That was five months back. And boys out here, the ever worrisome lot, kept on losing their flabs [reading those fat PE multiples and valuations]. After all this ‘Fed’ was no Fed like that.
Back then, Ben Bernanke was a saviour, and what he tried was performing miracles.

Ben Bernanke performing miracles

Six months later, The Oracle of Fed, Ben Bernanke a.k.a Helicopter Ben (for his relief packs), has started feeling the heat down his collar. I wonder if there will be any more freebies. And to have a pulse of the situation he doesn’t have to stretch his vision farther. His own home in the most slick place in DC, is hit by the sub prime tidal. [Its not a wave anymore]

Ben Bernanke praying 'Please dont eat me, O! Sub Prime monster'

And it is a 2600 sq. feet posh sleek apartment in the creme de la creme strip in the central Washington DC. You want to know what happened? His own home, is not worth anymore 🙂 . Period. Washed away, drowned, engulfed by the mortgage crisis. Whatever you want to say, but in other terms his own investment has gone cold.
It seems the very Chairman of Fed has been gulped by the monster. Without even a belch (translated literally from a Hindi proverb).
According to sources, his home which he bought in May 2004 at the peak of the housing real estate boom (ahem! ahem), for $839,000 [a little less than 4 crores going by the then existing USD INR rate]
So this brings me to my first question, are messiahs infallible?
If so, then what about we mortals? Now I see some real psychological thrills coming up in DJIA and because we love our cousins up there so much, I can see Sensex rocking for some more time. And not rocking as in ‘you-rock-man!’ lingo, but rocking as in the more uptight British rocking like, ‘the-ship-is-rocking-mate!”

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[At present comments are turned off, but if you have any suggestions/praises/brickbats then you can digitize them and send them to sohamdas at gmail dot com] 

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