Today’s top story is how the Department of Justice has been ‘investigating’ S & P for fraud while studiously avoiding using the actual word!
It’s actually somewhat comical to see the lengths they put the poor reporter through to avoid a libel suit (although it ain’t libel if it’s true!)
But that aside the stock market is sinking like a rock!
Stocks on Wall Street fell sharply on Thursday, following the trend set in Asia and Europe as more disappointing economic data emerged and concerns again focused on the financial sector.
The Standard & Poor’s 500-stock index was down more than 4 percent. The Dow Jones industrial average was down about 450 points, or 4 percent, and the Nasdaq was down nearly 5 percent. Major indexes in Europe were down 3 to 5 percent.The yield on the Treasury’s 10-year note fell to a record low as investors turned to fixed-income securities.
Economic reports issued after the markets opened in New York accelerated the decline. A monthly survey by the Federal Reserve Bank of Philadelphia showed that factory activity in the mid-Atlantic region plummeted in August, indicating contraction and falling to the lowest level since March 2009.
Odd that the market can drop 450 points in the first hour of trading and nobody has jumped out of a window on Wall Street so far…
Weird to contrast these market fluctuations in comparison with 1929, when the Dow was 400 points…total (and we actually made shit back then!!!)
I think one of the most telling factors about the Crash of 2007 was how our GDP growth fell from 4.5% to .4% in a single quarter due to the market for ‘Specialized Financial Products’ seizing up!
How fucking pathetic is it that 90% of our fucking economy proved to be (worthless) financial products?
Worse, absolutely NOTHING has been done about this!
Nobody was prosecuted, nothing was declared illegal and nobody got sued for what is clearly ‘fraud’.
Which is to ask, good citizen, should every sitting judge in this country be sent to prison?
The answer to this not so rhetorical question is a resounding YES [but people in hell are more likely to be served tumblers of pure, clean ice water first!]
Which is more the pity, I’m sure these judges would greatly prefer being imprisoned to being hanged!
But when you get hung without a trial they call it something else…they call it lynching.
No irony should be lost on the fact that the ‘final destination’ remains identical…dead is dead.
I don’t suppose it is particularly helpful to point out that they MAY not bother to hang you if you’re already dead…but killing you isn’t the point, it’s about extracting revenge and humiliating your corpse…not that the corpse cares.
It’s like punching a brick wall, it doesn’t do any harm to the wall but you feel better afterwards!
It’s bad to let that ‘frustration’ build up inside of you…
And few things are more frustrating than ‘justice denied’.
Speaking of frustrating, how long do you think they are going to keep pretending our economy is even remotely viable?
If they announced the Dow had dropped to zero tomorrow, more than a few people would respond with ‘it’s about time!’
The only people to be shocked by this development are the ones who have remarkably short attention spans or are too self-absorbed to notice anything else around them.
As it stands, a measly 400 point drop is nothing these days, the markets regularly shrug off larger during the course of a trading day.
Conversely, as I pointed out yesterday, the ‘illusion’ is pretty much kaput! Nobody is buying the non-existent ‘economic recovery’ that occurred mainly inside the bank accounts of the criminal class.
So, how long will they try to bullshit us before the cries for a ‘New Deal’ can no longer be ignored?
Sadly, nobody us even whispering about a New Deal…and I believe this is because almost nobody believes the current system can be ‘fixed’…(even with a jubilee!)
And there is no consensus on what direction to head in, not yet anyway.
Scratch a Commie and you’ll find an Aristocrat underneath, scratch a capitalist and you’ll find a Tyrant.
How do you choose a direction without succumbing to either extreme?
A Simple Plan IS the ‘third way’.
Rules without rulers, an idea whose time has come!
Thanks for letting me inside your head,
Gegner
No comments:
Post a Comment