If we here at Just Another Blog™ were not so full of hate, pain, rage & fear (to name but a few of our "emotions") we might be able to gently mock the parasitical scum that control the financial markets & make our lives miserable w/ their greed, filthy hypocrisy & sense of entitlement. But the chances of mockery w/o a full keyboard melt-down are slim to none, so for some mild invective, let's turn it over to a guy who has to go to the same cocktail parties as the rest of them,
Mr. E. J. Dionne Jr.:
Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries and how government should keep its hands off the private economy.
See? He has "conservative friends." How are we to get the truth about economics from someone who claims to have such friends? Probably financial conservatives, not the drooling, hallucinating, schizophrenic religios who endorse Sen. John ("Bomb bomb") McCain, but still.
The Wall Street titans have turned into a bunch of welfare clients. They are desperate to be bailed out by government from their own incompetence, and from the deregulatory regime for which they lobbied so hard. They have lost "confidence" in each other, you see, because none of these oh-so-wise captains of the universe have any idea what kinds of devalued securities sit in one another's portfolios.
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Enter the federal government, the institution to which the wealthy are not supposed to pay capital gains or inheritance taxes. Good God, you don't expect these people to trade in their BMWs for Saturns, do you?
Our favorite potential outrage would be the investor class having to take its lunch to work. Of course, the lunch would be packed by "illegal" immigrant slave-labor. Nonetheless, what an indignity!
So now the bailouts begin, and Wall Street usefully might feel a bit of gratitude, perhaps by being willing to have the wealthy foot some of the bill or to acknowledge that while its denizens were getting rich, a lot of Americans were losing jobs and health insurance. I'm waiting.
Don't hold your breath, E. J. We've been waiting quite a while ourselves. How are those cocktail weenies, anyhow?
2 comments:
They can't print money fast enough...
Pretty soon we'll be using wheel barrels to bring enough cash to the store just to buy a gallon of milk.
It's not rocket science though the media and the Bush Administration acts like its a big 'mystery'.
Bush inherited a budget surplus.
Him and Cheney then went immediately to work figuring out ways to get the U.S. treasury firmly into the hands of their corporate donors.
Their first step was the tax cuts for the wealthy. Then there was the two wars which put us firmly into deficit spending.
They added $3 trillion to the debt.
To fund their follies they just keep printing money. To keep people from figuring it out the Federal Reserve stopped reporting just how much money they were printing.
As the supply of dollars goes up its value goes down.
Further, the wars drive oil prices higher which is causing across the board inflation.
The result is lost confidence in U.S. markets.
No amount of 'intervention' will change that until we actually STOP borrowing and STOP printing money.
But seriously, what do Bush and Cheney care? They are invested overseas. They have nice villas on those man made Islands in Dubai. The ubber rich have long since left the U.S. Halliburton moved its headquarters overseas.
Cheney invested in Euro bonds a few years back.
They saw this coming. I am begning to think they wanted this to happen. They are devaluing and deflating America opening us open to foreing looters to come in and buy us wholesale.
No amount of rebate checks consisting of borrowed dollars from future tax payers will change that.
Pretty soon we'll be using wheel barrels to bring enough cash to the store just to buy a gallon of milk.
Here is one problem that modern technology can help with. Instead of a wheelbarrow full of money (like Germany in 1923) we will have the joy of knowing that our debit card is good for millions; of course, that will be just enough for a gallon of milk, but still, millions!
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