Thursday, July 26, 2012

Crazy Markets!

Greetings good citizen,

I think we can all appreciate how life sometimes conspires to hand us a hectic day, for an unemployed guy, I’m busier than a one-legged man in an ass-kicking contest!

And it ain’t over yet. I’m taking advantage of this brief lull in the action to draw up a quick post before the calendar on Blogger flips another page.

Um, following my usual format, the stock market is having one bust out beauty of a session, you’d think the recovery was on fire as the markets tacked on over 200 points for no reason I can see.

Maybe the commodity traders are all excited about the drought causing a famine, just another reason why we should abolish the markets and outlaw trading in commodities!

Anyway, today’s Business section headlines are far from hopeful:
Exxon and Shell Earnings Disappoint

The companies blamed lower prices for oil and gas worldwide, and analysts said higher production costs were also a factor.
Finding a major new oil field would certainly warrant a uptick in trading but today’s run up is more along the line of finding a new inexhaustible energy source!

Understand good citizen, the > One Percent owe most of their ‘worth’ to their stock holdings…

So guess who is taking it up the tailpipe when stocks rise ‘irrationally’ like they have today?

Yup, it’s nobody but YOU!

And speaking of gifts that keep on giving, Bush’s NY Fed chief cum Obama’s Treasury Secretary
Geithner Faces Senate on Rate-Rigging Scandal
By BEN PROTESS 4 minutes ago

Congress intensified its focus on the interest-rate rigging scandal on Thursday, as Timothy F. Geithner, the Treasury secretary, vowed that authorities would forcefully pursue criminal investigations into some of the world's biggest banks.

Odd time to start an investigation, right before the statute of limitations expire…

Weird how some crimes ‘expire’ but anything the average man can be held accountable for NEVER expires.

Who do you suppose Timmy is going to bring to Justice?

It’s a ‘surprise’…which is to ask who is going to be surprised when whoever it is gets away with it?

No need to go there. A bag job is a bag job.

And have a look at THIS ‘joyful news’:
Alcatel-Lucent to Cut 5,000 Jobs Amid Quarterly Loss

The reductions amount to 6.6 of its global work force. At the same time, the telecommunications network equipment maker will try to increase the revenue it gets from licensing patents.

And stocks went up how much today? Is there any way to put a ‘positive spin on ANY of these news items so far?

Naturally, that’s a ‘rhetorical question’:
Madoff Trustee Wants Victims to Get More Money

Victims of imprisoned Bernard Madoff's Ponzi scheme could be getting back more of their stolen money.

Does anyone else find I strange that only Bernie Maddoff’s, er, ‘victims’ are the only ones getting anything out of the blatantly corrupt financial sector?

More interestingly, those who were with Bernie made out quite well (on paper) while they were with him…

Just saying, ya know?

And finally we have this item:
The New York Times Co. Posts a Loss

The company cited a write-down in the value of and continuing declines in print and digital advertising revenue.

Alas, we see another victim of the gutting of the global customer base.

This working for somebody else bullshit is proving not to be worth the effort.

You are, in fact, working to make someone else rich while you impoverish yourself!

Worse, we also know ‘capitalist utopia’ don’t work either so what’s left?

A Simple Plan, an idea whose time has come!

Thanks for letting me inside your head,


No comments:

Post a Comment