http://kunstler.com/blog/2011/11/the-blue-bus-is-calling-us.html
While what he is saying is mostly just “I told you so” for what the author predicted in his books, most of what he says is right.
If Greece demanding a 50% haircut can’t trigger payouts of Credit Default Swaps, nothing can. When the reality sinks in that the CDS market is 100% a scam, all those people sleeping well thinking they found a way to risk proof owning debt will rush to unload it, only to find no buyers.
Assuming the Congressional Super-committee doesn’t craft a last second compromise, bond services will have to downgrade US Treasuries now or prove that they are also just facades luring in investors like the woman luring in the horny men to the peep show at the carnival.
Anyone want to figure out what “blue bus” refers to?
After exhaustive research, it is from the song “The End”, by the Doors – and apparently is drug slang for a morphine based pain killer useful if you want to overdose and commit suicide.