Don't you wish it was really just that simple? Well it is, since the financial health of the speculator is all that seems to matter to our Establishment. Speculators are the cause of the Real Estate Bubble backed by the Establishment banks who somehow created the loans.
The Stock Market has long since stopped being a place for real companies to be valued for their actual productive use to society as a whole. You'll notice that today the major banking stocks and certain financial sectors gained the most. Why's that? Could it be that speculators are now interested in borrowing the credit to buy back the stocks that have now become such a relative bargain? It doesn't matter, regardless of how many losses are posted by banking corporations, bankers never lose money. Not their personal money anyway.
Between "shorting" and "buying long" and whatever other gimmick these people use to never lose money in the stock market, the speculators have made money all the way down and now all the way back up. Chaos and turbulence is all good news for speculators, stock brokers and the banks that back them.
The Federal reserve is a FAILURE in that it's allowing itself to be so beholden to such a narrow special interest group of Wall Street Gamers. The media is just as complicit for using their fear mongering to get people to buy their papers or watch their reports. Same old game, just new suckers. No, some new suckers, but mostly the same old suckers -- the American people.
If any good comes from this, it might be the revival of old wisdom, long since buried in the dumbing down of American institutional learning centers, of the real function of inflation and other stealth stealing from the rewards of labor by these markets and central banks. The brain washing is so complete that even public discussion brings a strange fear to the very same people being exploited by this scam. Denial is a river in Egypt and also a symptom of brain washing.
But what about the lower interest on all these mortgages? Isn't that a good thing? Short term maybe, but people are still paying for houses they bought at artificially high prices, courtesy of even more speculators. It's like me stealing a thousand dollars from you and giving you a hundred back and you being thrilled about it. Guess how I'm feeling about it? I'm thinking you're a sucker, and you are. Government is happy too, as it doesn't want to reduce the new property appraisals and give that money back to you.
Yes, the Stock Market is up. Good times are here again. Wow, that was a rough couple of days. Except, now that this Global Market thing is so coordinated, rest assured there will be more wagging the dog coming your way. So polish up and dust off that credit card, your country needs you!
http://blog.myspace.com/hosshoss777
I am a simple man of eclectic interests and tastes with no particular academic credentials. I still perceive, think, read and write somewhat. Writing music is a hobby of mine
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