Wednesday, July 1, 2009

Your 'Piece of the Pie...

Greetings good citizen,

Well, today is the last day of the second quarter of FY 2009 and, like so many times before, there is nothing remotely resembling economic recovery evident anywhere in the US economy.

Which means what good citizen?

It means the lying fucks were WRONG AGAIN!

Talk about double standards, if you fucked up this often you’d have had a can tied to your ass two yeas ago!

What’s that? You mean none of these college-educated fuckwits has had their degree in economics revoked…not even one of them?

Oh, I keep forgetting…it’s all SOOoooooooo complicated!

What kind of world would it be if all of our jobs were so ‘complicated’ that we had no clue what the fuck we were doing ninety percent of the time?

Which is to say, if economics were ‘really’ as complicated as these morons make it out to be, we’d all be dead!

Boil away the BULLSHIT, good citizen and economics is about one thing and only one thing.


We do what we do because it needs doing.

If shit doesn’t get where it needs to be, when it needs to be there, it all goes to hell. (Cascading, systemic collapse.)

There’s hardly a nickel’s worth of difference between ‘economics’ and ‘commerce’, although what that five cents worth of difference really boils down to is who reaps the benefit of ‘commercial activity.’

Which brings us to tonight’s offering Where Ilargi takes a look at the shrinking ‘economic pie’…

June 29 2009: California tipping into the ocean

Ilargi: The same US banks who, facilitated by various governments, hit the taxpayer for trillions of dollars, now have decided they don't have quite enough yet. So, again facilitated by the government, which "failed" to close the loopholes in a new bank law, they go after the taxpayer again, this time for fees on credit cards and even debit cards.

A little bit of an overdraft, and a 3000% or more interest rate will land on your doorstep. It just goes on, doesn't it, this madness? If it still hasn't been stopped yet, why would we expect it to stop at any time in the future? Usury and swindle are not accidents, they are embedded features of society.

Bernie Madoff gets 150 years, while these practices are not just allowed to continue, but are strengthened and enhanced. For the financial world, clients are cattle that exist to be milked at will and slaughtered when convenient. You need banks and their cards for some of the most basic payments in life these days, and a system organized this way can't but become a set of debt-slave shackles.

The entire system is so sick and rotten and so thoroughly geared towards a myriad forms of legal theft, that no politician would ever condone it if they were not part of it and dependent on it to sustain their particular place in the universe. It would be easy to simply ban people from using more money or credit than a mutual agreement provides them with. Easy, but much less profitable. Luring them into debt is the way to go. It's official.

These banks would not exist anymore without the money provided by payrolled politicians in name of the same people who now pay these fees which could only have been invented and approved by minds that have lost all connection to normalcy and decency. And then they all go to church on Sunday and ask for the blessings of a deity of their choice. And fool themselves and each other into thinking they've received it.

California tipping into the ocean may be a watershed moment. In two days, the first IOU's will start being handed out. Now, you may be excused for wondering what the difference is between Arnie's paper and a greenbacked IOU, but really, they are not the same.

It's hard to predict what will happen with the Terminator slips, but what seems certain is that some of the other states will be dragged down alongside Disneyland into the Pacific. Numerous counties and municipalities will then undoubtedly follow. And when a stain starts spreading in that way, who is to say where it all leads? Look downwind and follow the money.

The ratings agencies will get very busy, that much is sure. Hammering down the credit ratings of thousands of different entities and their debt is no easy matter. Still, with the speed at which tax revenues are going down in mind, down they will all go. All the way until the federal credit rating gets its turn. There is no way out of this [under the current system] other than severely constrained consumption patterns, which will lead to sky high unemployment rates, which will restrict consumption, which.... [will result in cascading systemic collapse, a la the parable ‘for want of a nail’.]

We can do this in a civilized way, or we can invite chaos. Those are the only two options. So far, all rich nations on the planet have chosen option number two, America first of all.

Recovery is right around the corner. And eternal growth is our divine right. Right? June growth is our divine right. Right?

While Ilargi doesn’t come right out and say it, I suspect that last rant about ‘growth’ is similar to my own rant about the punditry being ‘wrong again’ about the economy being in ‘recovery’ by the second quarter.

Here it is good citizen, we are in the ‘second quarter’ of 09 and do you see ‘green shoots’ anywhere?

But if you recall, the housing market was supposed to have hit bottom by the second quarter of LAST year…didn’t exactly ‘nail’ that one either, did they?

Don’t get me wrong good citizen, ‘recovery’ will come but sadly these idiots measure recovery not when the economic data turns positive but as soon as the data stops falling.

Which leads to observations like this one, made in today’s ‘Some Assembly Required’

Strategy: One out of four foreclosures is due to people who could affort to continue making payments simply deciding that it no longer makes sense to keep paying on an underwater mortgage. The gullibility of the rest is all that is propping up the economy.

People will be patient, hell they’ll even cooperate if they believe the people in charge are ‘leveling’ with them.

Do you feel like the government or the media is telling you the truth? Perhaps some of you think it is ‘unfortunate’ that these two entities continue to miss their own ‘lines in the sand’.

They said this or that but it turns out they were wrong…is this just a ‘mistake’ or are they deliberately misleading us because they obviously don’t want to do what the must eventually do?

The banks are not ‘too big to fail’, quite the contrary, there isn’t enough business for all of the banks to survive.

So all of this fooling around with public money is really just buying time so the ‘principals’ of the targeted (to close) banks can move their positions into one of the banks they have decided to keep.

What’s taking so long? The ‘surviving banks’ already have a full slate of people that don’t want to give up what they have…while those who find themselves on the outside looking in have enough, er, ‘leverage’ to throw the banking system into the sewer. The end result is a Mexican Stand-off. You may kill him but he’ll kill you too.

So we wait…as the economy stagnates and the situation turns more dire with each passing day.

It’s not the banks that are too big to fail but the players themselves that no one has the cajones to pull the trigger on.

Is there a ‘problem’ with ‘income inequality’? Things have gone much to far when a few individuals have enough money/clout to hold the ‘wealthiest nation in the world’ hostage.

As history has shown us repeatedly, any society that allows any individual to accumulate that much wealth and power is playing host to a ‘monster’.

Right now, those individuals are facing off against one another in a ‘winner take all’ gambit that will put one of them decisively on top.

It sounds silly to speculate about a single individual being responsible for the globalization movement and the current collapse of the same but when the idea is held up against the backdrop of history, there are countless ‘precedents’.

I’m not trying to shake your grip on reality to hard all at once, it’s just something to ponder as we sit and wait for the other shoe to drop.

Thanks for letting me inside your head,


No comments:

Post a Comment