Monday, October 15, 2012

You or Them?

Greetings good citizen,

In yet another episode of ‘irrational exuberance’ markets enjoyed a rare ‘up’ day because, for the thousandth time, economic activity in the financial sector is being ‘misread’ as a consumer lead recovery.

The sad truth good citizen is not only is nobody hiring (although an amazing number of them are ‘interviewing’, again for reasons most likely political.) when you do talk money, they are all offering less than what I was making in the 1980’s.

But let’s have a look at the headlines:
Signs of Possible Recovery Buoy Chinese Exporters

With few exceptions, exporters at the opening of the Canton Fair, China’s main export show, said demand from emerging markets and the United States was beginning to recover.

Signs of economic improvement are underpinned by investment spending, largely in the form of loans by state-owned banks to government construction projects.
Republicans are pointing to Obama’s ‘stimulus spending’ and belaboring the obvious, old time Keynesian spending doesn’t work in a global economy…

The money all ends up in the oligarchs hands via their Chinese manufacturing arms.

But hey, that didn’t stop the Dow from tacking on 95 points for absolutely NO reason!

Just as the Dow recently tacked on over 200 points on news that Spain was going to receive a bailout.

Spain Waits, and Europe Frets

Many economists and analysts are worried that Spain risks push the economy deeper into recession by waiting to take advantage of a bailout fund.
Naturally the Spanish are watching the Greek riot, wondering if they too aren’t making a mistake bailing out corrupt bankers with the taxpayers money.

Some Blame Germany for Spain's Delay 11:28 AM ET

But we shouldn’t be throwing stones, let’s take a look at whats going on in our own banking sector:
Citigroup Earnings Plummeted in Quarter on Write-Down

The nation’s third-largest bank reported a decline in net income because of a $4.7 billion loss related to the joint venture brokerage business Morgan Stanley Smith Barney.
Tough to see a story like this and not be able to click through to find out what’s going on…but we already know what’s going on.

Our banking system along with the global banking network is bankrupt, because it’s customers are bankrupt.

Let’s backtrack a couple of stories to our alleged ‘recovery’. Banks making stupid loans to builders doesn’t mean anything in a world that can’t utilize the capacity it already has!

Don’t look now good citizen but guess who buys an I phone everytime a new one comes out?

The fucking One Percent! They are pretty much the only ones foolish enough to throw away a perfectly good phone just because a new model came out.

This disease/foolishness extends to technophiles who ‘have to have’ the latest, most up to the minute gadget of the moment.

But not all techies are models of frugality…

Under the just who the hell vets these people category we have:
2 From U.S. Win Nobel in Economics

Alvin Roth and Lloyd Shapley were given the award for their work on market design and matching theory, and how to help make markets work better.
Seriously good citizen, with the exception of my humble self, is there any American that knows ANYTHING about ‘real economics’ out there?

I seriously doubt it…and if A Simple Plan is adopted there is going to be a whole boatload of economic degrees getting revoked wholesale! And more than a few Nobel prizes getting clawed back…for a variety of reasons.

And no I don’t want them, I’m gonna give ‘em back to the ‘Wegians!
Book by Disgruntled Ex-Salesman Offers His Analysis of the Culture at Goldman

In the first chapter of his book "Why I Left Goldman Sachs, A Wall Street Story," Greg Smith, a former salesman for the Wall Street firm, writes of interns who had to carry a stool with them.
Um, just a hint of how far gone things really are…in case you thought all of this collapse stuff was hogwash.
Retail Sales Point to Stronger Consumer Spending

Americans bought more cars and gasoline in September, while a gauge of consumer spending pointed to stronger economic growth than expected in the third quarter.
It’s the price of fuel, stupid! Yet we have this…

Stocks Move Higher on Sales Data 4:07 PM ET
Our final snippet makes us ask, but will pinhead still be the Prime minister by this time next year?
Prime Minister Emphasizes His Belief That Greece Will Stay in European Union

Antonis Samaras, Greece’s prime minister, says an agreement will be reached that will end speculation that the country will leave the euro. But business leaders say they have seen little progress.

Unemployment at record levels mostly due to ‘austerity measures’ that are actually hurting the economy.

In fact this whole housing boom and subsequent bust has been so badly bungled that you can’t help but wonder if it isn’t deliberate.

And guess what, the events unfolding over the past four years are precisely what I’d do if I were trying to KILL OFF a large portion of the ‘surplus population’.

But that’s just ‘crazy talk’, right? The One percent don’t Hate us that much, not enough that they want to kill us…although they might look the other way if some of us were starving to death (which is how it’s going to go down.)

After the optimists among us finish paying for shelter and heat they won’t have anything left for food.

Better to throw on an extra blanket and shiver a little than to not allow yourself enough to eat. Without energy you won’t be able to earn more money to pay for shelter and then where would you be?

Consider this as the icy grip of winter approaches…and wonder whether you are valuable enough to your employer to be ‘saved’…

Because in the end it is THEIR decision, not yours.

Thanks for letting me inside your head,


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