" The Wall Street lemmings are madly in search of a cliif; the rats a sinking ship. As a result of the criminally moronic Busheviks’ disasterous hubris, unconscionable greed and rabid amorality; not only have our economic values been placed in severe jeopardy but so also have the values of our founders been put at death’s door. "
- Roy Murtishaw, November 6, 2007 ( Media Channel )
" These capitalists generally act harmoniously, and in concert, to fleece the people, and now, that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel." - Abraham Lincoln, January 11, 1837
In a time long ago before Bartles met Jaymes, I endured my one and only course in economics. Thus, I am admittedly no expert regarding the current financial turmoil now threatening to erupt into a worldwide calamity but I did become a rabid proponent of and advocate for " common sense " during my 30+ years as a psychotherapist.
Besides sentient beings ( which excludes, of course, the Bushevik dolts... and those such as bailout architect Henry Paulson who has already looted Wall Street to the tune of a $500 million dollar personal fortune ), have been railing for years against government of the rich, by the rich and for the rich. When the most powerful nation on earth has systematically been engaged in a relentless assault on the welfare of 95% of its people while favoring the elite 5% for the past thirty years, it is hardly surprising we masses, having now become bankrupted, can no longer buy even the Wal Mart packaged oligarchs' foreign manufactured crap.
Several months ago while the Bushevik Trickledowners including the moronic John McCain were assuring us of the soundness of our economy, Fed Chairman Ben Bernanke was issuing grave warnings:
"The contraction in housing activity that began in 2006 and the associated deterioration in mortgage markets that became evident last year have led to sizable losses at financial institutions and a sharp tightening in overall credit conditions. The effects of the housing contraction and of the financial headwinds on spending and economic activity have been compounded by rapid increases in the prices of energy and other commodities, which have sapped household purchasing power even as they have boosted inflation. The economy continues to face numerous difficulties, including ongoing strains in financial markets, declining house prices, a softening labor market, and rising prices of oil, food, and some other commodities........The declines in home prices have contributed to the rising tide of foreclosures; by adding to the stock of vacant homes for sale, these foreclosures have, in turn, intensified the downward pressure on home prices ......Surveys of capital spending plans indicate that firms remain concerned about the economic and financial environment, including sharply rising costs of inputs and indications of tightening credit, and they are likely to be cautious with spending in the second half of the year."
However,Bernanke's grave warnings issued months ago were incredibly ignored by our collusive media which prominently includes such stalwarts as Andrea Mitchell, wife of Alan Greenspan; David " Stretch " Gregory, husband of a chief Fannie Mae executive, Beth Wilkinson; Campbell Brown, wife of GOP operative Dan Senor; Nora O'Donnell, wife of Geoff Tracy (owner of D.C. restaurant and GOP favorite, Chef Geoff's). The chummy 'fat cat' relations our celebrity consumed media pundits obviously crave should be apparent to anyone not presently on life support and has to impact their objectivity.
Now no matter how many increasingly worthless American dollars catalyzed by Greenspan's policy of championing insanely low reserve rates appears to offer little hope any bailout will work. Instead these and similar policies require the Fed's steadily printing ( $700 billion bailout and another $650 billion Fed infusion this week alone! ) money backed mainly by wishes and prayers which surely only exacerbate our problems. The least terrible outcome awaiting us if the political cowards approve the " bailout " seems likely to only buy us a little more time and a lot more debt! And I'm already plenty perplexed regarding how I'm going to justify what we've done to our children and grandchildren.
As the Dow Jones has plummeted more than 4000 points the past 12 months with ups and downs that can only be described as bungee chord fluctuations, I strongly suspect the market has been co-opted by "insider traders" and as the spiral continues to the frigid Dow ranges of 7000-8000 point ranges;
the fat cat oligarchs will undoubtedly continue to bait the trails luring lemmings/investors over the cliff.
Following the lead of my political hero, Russ Feingold, I'm
telling them to get screwed?
I'm a 65 year-old disabled/retired psychotherapist who is a proud activist liberal despite my having lived in Pine Bluff,Arkansas amidst extreme conservatives all my life. I was a single father to a now 38-year-old Califonia Energy Policy Analyst (more...
|The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.