Thursday, November 3, 2011

Economic Underdogs...

Greetings good citizen,

In yet another display of outrageous cognitive dissonance, the world’s stock markets continue to soar despite the fact that the global economy is tanking faster then they can bail out the banks.

But (and they’ll never admit this) appearances matter more than reality.

That’s the only reason why markets ‘soar’ for no discernable cause.

As I have admitted multiple times, the stock markets are the only ‘barometer’ of economic well-being we have, however, the ‘reliability’ of this indicator leaves much to be desired.

Mr. Bernanke forecast that the economy was, er, recovering…albeit, slowly. He even went as far as to admit it would be too slow to help the millions of unemployed, dipping the future in a dank pool of wretched uncertainty.

To what, precisely, good citizen, should we attribute this unfortunate turn of events to?

Was it the banking crisis where we all learned we were broke (due to decades of being underpaid?)

No, it wasn’t.

Then why, for the third recession in a row (although truth be told, the workers of this nation haven’t recovered from the shithouse deal that was the Reagan Economy)have we only recovered 'on paper'?

Seriously good citizen, when the US’s number one export is the paper our imports are wrapped in! What does that tell you about the state of the 'global economy'?

If anyone can afford to strut on the beaches of the Côte d’Azur during the meeting on Thursday and Friday, it should be the fast-growing developing countries, especially China, but also India, Russia and Brazil. The balance of power has shifted so rapidly that Europe is now asking them for money, and they are in a stronger position to push their views on trade rules and other issues.

But the leaders of the big emerging economic powers of the world are not likely to be crowing. Not only do they face vulnerabilities of their own, like worrisome levels of inflation in China, but they also do not want to see their best customers struggle economically, especially when another crucial outlet for their exports — the United States — is also suffering.

“China is going to be in a pretty good position,” said Uri Dadush, a senior associate at the Carnegie Endowment for International Peace in Washington. “But don’t interpret that to mean that China is happy with all this. China is part of the world economy.”

You don’t suppose that Mr. Dadush has a talent for ‘understatement’, do you?

The Chinese (worker) not only sees the exact same thing the 99% are complaining about over here but they too feel ‘victimized’ by the sudden sweep of ‘privatization’ that has forced expenses on them faster then their pay can/will rise!

But that’s capitalism for you…

What’s, er, ‘disturbing’ is how long the Chinese Communists will sit still for the exact same conditions their grandparents revolted against in 1949?

I’ll go the extra step here and point out that ‘China’ ISN’T to blame here, the fucking capitalist pigs that shipped their operations to China are!

Yes, good citizen, once again, responsibility for the collapse of Western civilization rests squarely with the .01%

Probably doesn’t hurt to mention that this isn’t the first time they’ve driven the global economy to the edge…

Although, this time it really is ‘different’.

The recent ‘landmark’ of our being joined by the 7 BILLIONTH human on the planet only deepens my conviction that this contrived collapse is indeed ‘deliberate’.

Then there’s the ‘Peak Oil’ and the ‘Population Bomb’ to consider. Note how ‘global warming’ has crowded out other serious issues.

Worse, the ‘attitude’ still prevails that there is ‘plenty’ of energy out there…but this is incorrect, we have used up all of the ‘easy to recover’ stuff as of the middle of last decade, that’s why the ‘oil sands’ (as well as oil prices) are moving forward!

To put this disaster in the making into perspective, the only reason we haven’t suffered a global famine (yet) is due to, er, ‘farm automation’ (that is powered by oil.) When the price gets stiff for a gallon of gas what do you suppose they will do, cultivate less acreage or charge more for food?

Let’s not forget the ‘default’ setting…“I’ve got mine, fuck them!”
And no, I am not being ‘funny’ I’ve actually heard capitalists say this!

Worse, if you confront them they back right down…and mutter ‘fuckin’ liberal’ behind your back, but that’s capitalism for ya!

It’s long past time we looked at who was in the driver’s seat, we all know the score.

Yesterday’s General Strike is being heralded as a success and we can only hope it is the first of many more to come…

It will be interesting to see how the nearly dead unions react when the only people defying the general strike are union workers?

Which is another example of ‘mismanagement’. We can see what FDR was up to but it turned into the ‘weak link’ that unraveled the New Deal.

Unions NOT striking ‘in sympathy’ with each other has hurt the cause of labor big time. We can only marvel at why it took nearly 50 years until people stood up to this stupid legislation!

What remains to be seen is whether or not this is the ‘tip of the spear’ or a ‘fluke’…

Time will indeed tell, good citizen.

Thanks for letting me inside your head,


Update: It seems we aren't the only country with 'spineless politicians', Greece's Papandrous has reneged on putting the proposed economic bailout up for a public referendum vote...

So far this move has, as one might expect, increased calls for him and his government to 'step-down'.

They said this could end his administration and it's beginning to look like the infamous 'they' were right!

Will his government survive the week or do the bankers 'have his back'?

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