On Three Day Garage Sales
I need to ask you for a little more patience and understanding.
I realize that I have all but, just about stretched your willingness to extend me any more accommodating forbearance beyond the reasonable limits of good prudence and logic.
Therein, please do not despair; yet I would like you to accept my indulgences in making one more urgent request regarding a most unexpected matter.
You will soon come to see it is in your interests to bear with me in the long run though …and for that I will be eternally indebted to you.
You see, while I’m continuing to have problems in that I am still struggling to handle and cope with my day to day and month to month financial obligations …some sequence of unforeseen and rather dire misfortunes have rocked my world recently.
You see; there just couldn’t be any worse timing for … true to my nature, I have some how (…once again) managed to spend way too much money this last month.
So, again …I guess that I am just going to have to hold another (treasury auction) garage sale …one more in a long string of on-going, huge, three-day garage sales.
However, this particular (treasury auction) garage sale is going to have to be different due to a variety of matters (quantitative easing not withstanding) whose issues have culminated to conspire against my lack of (Boy Scout/Girl Scout) preparedness …and has taken me totally off guard.
This has all but left me with little else than haste.
Such as it is, I neither have the courage of conviction nor the will to make the sort of decisions which otherwise would involve the necessary unpleasant sacrifices required to avoid the oncoming deluge of a most certain hail storm and ensuing flood.
The problem is become so big this time that I am simply going to need your (G-7’s) help in this one …or else; it just might sink my ship.
Note: The equity markets were at risk of sinking this last week, no?
Problem is …some of the stuff that I tried to move in my past sales didn’t move all that well …and I wound up having to buy it myself …from myself …pretty much in the last waning minutes of the sale on the last day.
Note: That’s pretty much how Quantitative Easing works.
On top of that …in order be able to do this …I’ve had to take some rather compromising measures in the final minutes …on these final third days of each of the last 6 or so garage sales I’ve had to hold.
In other words, more and more …I’ve had to buy anywhere from between 40 to 60 % of the remainder my stuff which didn’t sell during the first two and a half (2 & ½) days of each of these garage sales …primarily by raiding my kids’ piggy banks.
Note: In the case of Quantitative Easing, the Treasury simply prints …devalued paper with which to purchase its own long bonds …in order to service its notes and bills …all the while keeping rates low in order to maintain and drag out the process long enough till enough of the short handle stuff has been hung (on your kids) on the long handle …the 30 year bonds. This process must not be interrupted as it was with the disasters in Japan.
I am so sorry, but I now have to confess that I have been too proud and ashamed to accept that I might not be able to live at the standards to which I have become accustomed to living.
I mean; what would the neighbors think if I had to start tightening my belt and all?
The bottom line is that, the public’s demand for my choice …slightly used stuff is …and has been, slowly waning over the last couple of years, and now I have to turn and face the facts …in a stark and tougher reality.
As is the case, in haste …I do not know if I am up to being able to accept the possibility that I might have to grow accustomed to a most uncomfortable reality …the endless hassle of dealing with one crisis right after another.
How unsettling you see my pickle has become, yes?
I mean to say, today …I honestly did not believe that I would have to deal with this as a crisis until at least another ten to twenty years.
I did not believe that I would be forced to deal with the urgency of such a reality’s urgencies until some forthcoming future crisis.
For all I believed, I thought that I could just continue to be able to leisurely take some more equity from the valuation of my house …that is, until recently …when your forbearance all but about all but dried up.
But now …that matters have taken a sudden turn for the worse and now some of my previous customers want to make returns on their previously purchased stuff …. What’s a body to do?
Note: Greater supply and lower demand translates to higher yields. Therefore, robust treasury redemptions = lower prices and higher debt service requirements in terms of higher yields.
Worst of all, I now have one particular problematic former garage sale (treasury owner/holder) customer from Japan who I’ve had to deal with, but couldn’t so until I met first with the members (G-7) of my residential neighborhood’s homeowner’s association.
Note: For more information on this, see “Repatriation of Japanese Yen.â€
I’ll keep you posted as to what they say …later.
But …for now, I must caution you that mum’s the word …as this thing should be hush-hush and anything but transparent.
So, don’t tell a soul that …at this time …I really am in deep Ka-Ka …over my head!
Uncle Ben and the Yen