movie Pulp Fiction, hit man Vincent
escorts his boss’s wife, Mia, around town. While Vincent is in the bathroom,
Mia discovers his stash. She thinks it’s cocaine and promptly snorts some. Bad
idea â€“ it’s actually high-octane heroin. Vincent returns to find her writhing on
the floor uncontrollably, nearing cardiac arrest.
Lance, Vincent’s dealer. He hands Vincent a railroad-spike-sized syringe to
bring Mia back to life. Here’s the scene:
OK, you’re giving her an injection of adrenaline
straight to her heart. But she’s got breastplates. You’ve gotta pierce through
that. So what you gotta do is, you gotta bring the needle down in a stabbing
motion. [Makes 3 stabbing motions]
I gotta stab her three times?
No, you don’t gotta fucking stab her three
times! You gotta stab her once, but it’s gotta be hard enough to get through
her breastplate into her heart, all right? And then once you do that, you press
down on the plunger.
OK, then what happens?
I’m curious about that myself.
does as instructed. Mia immediately bolts upright, eyes wide open. Apparently
Life imitates art
Friday, world markets, pundits, consumers, and real estate professionals were
borderline comatose, in cardiac arrest – the result of a high octane overdose
of the credit market crisis. Enter the United State Federal Reserve with a
space needle like syringe to plunge $120 billon of pure adrenaline liquidity
through the breastplate and into the heart of the banking system.
markets bolt upright. The FTSE Eurofirst 300 index rallies, ending Friday 2.4%
higher and clearing all its losses for the week. In London, the FTSE 100 bolts up 0.4% on the
S&P 500 index surged 1.82%.
the markets bounced back. But the underlying problem remains.
Hugh Whelan put it like this; “If you’re a leveraged financial institution, a
leveraged individual, a leveraged hedge fund, on Monday when you walk in,
you’re still facing the same stresses you faced today and yesterday."
American consumer, long addicted to purchasing on credit, reached for cocaine
homes blind to the dangers the high octane debt heroin they were sold from the
many Lance’s in the mortgage and real estate sectors.
finally caught up. It’s a problem that requires massive intervention.
The price of addiction
us can discount the realities that face us. Foreclosures continue to rise.
Rates continue to rise. ARMs continue to reset.
driving out for coffee this morning, I passed an open house. A couple was
entering as another appeared to be leaving. I slowed down to observe. The
couple leaving stopped, turned, and began pointing around the front yard.
like ordinary, everyday buyers. And I think:
going to continue to sell.
are going to continue to buy.
going to continue working.
will continue to be lent.
will just be fewer Vinces, Mias and Lances.