After literally throwing trillions of dollars down the rabbit hole we are now faced (four years later) with Wall Street Braces for New Layoffs as Profits Wane
Worse, (or should we say more ‘in character’ with recent events) markets are, you guessed it, up!
Logical? Of course not! But when you’re a ‘Master of the Universe’ things don’t have to make sense…as long as they’re to your liking!
Wall Street plans to get smaller this summer. Faced with weak markets and uncertainty over regulations, many of the biggest firms are preparing for deep cuts in jobs and other costs.
The cutback plans are emerging even as Wall Street firms have mostly recovered from the financial crisis and are reporting substantial profits again. But those profits are not as big as they were before the crisis, and it is expected that in the coming months it will be even more difficult for firms to make money. Worries about debt in Europe and the shape that the Dodd-Frank financial overhaul rules will ultimately take, combined with the usual summer doldrums, are prompting banks to act.
“It’s a tense environment right now,” said Glenn Schorr, an analyst with the investment bank Nomura.
Had to get that last slam in there about the feeble attempt to even appear to be doing something about the Banker’s Bonanza that is a crisis to everyone else!
We really should hang the lot of ‘em, and that’s not off the table…just saying, ya know?
If we were to rewind a little we would find ourselves back at the beginning where I posited there wasn’t enough ‘valid economic activity’ to support the amount of indebtedness (read theft) in the system.
This has, as you may have observed, not changed.
Amazingly, it has only gotten worse (as more people try to borrow their way out of debt!)
So how is it good citizen that we find ourselves faced with yet another, er, not so much a ‘new’ banking crisis as we’re faced with a new phase of the original crisis?
Why isn’t this situation ‘going away’?
Bizarrely it is because the only way to make it ‘disappear’ is to first admit that the economic model we currently use is broken…and THAT ain’t happening!
Imagine the turmoil that would be created by declaring capitalism, er, ‘unworkable’…
It would (because of our general understanding of fraud) make all existing contracts null and void!
Our legal system would literally collapse under the rush to file suit by anyone with a now fraudulent contract on their hands.
And that’s only the tip of the iceberg!
And perhaps that’s the hell of it good citizen.
We know the system we’re using is broken but we can’t ‘swap it out’ because of the chaos it would cause!
We would have to have something like A Simple Plan in place and ready to go before we abandoned unworkable capitalism.
We COULD start ASP tomorrow, the only hitch would be the leadership piece of the puzzle, testing takes time BUT there are ‘interim provisions’ already in place.
The ‘beauty’ of A Simple Plan lies in the fact that life as we have come to know it changes very little from how it is today. The most important changes are, er, ‘transparent’ and only affect the criminal few.
Life for the average citizen ‘improves’ immediately because their pocket stops getting picked right away and all of their debt woes ‘vanish’.
Workers will phase into their reduced work day/week gradually as the unemployed are, er, ‘assimilated’ into the workforce.
Crime disappears, as there is no cash. You can’t be robbed nor can you, er, ‘sell’, well, anything because there is NO WAY to transfer funds between individuals.
Oh, did I mention you WILL be able to live on what you are paid because you won’t have to pay for much?
There are a great many benefits to A Simple Plan and it will take a heap of doing to fuck that up (not that the self-important won’t try…it’s what they do.)
ASP is ‘holistic’, its parts works in harmony. Disrupt the flow and you disable the protections it provides.
The biggest single danger to ASP is the prohibition against the individual buying and selling.
Violate that and the whole thing comes unraveled.
There ain’t a damn thing on this planet worth the consequences of allowing the transfer of funds between individuals.
If you love somebody, set them free!
Thanks for letting me inside your head,
Gegner
No comments:
Post a Comment