Greetings good citizen,
The week ‘ends’ here and what a week it’s been. The stock market basically ran in place all week while the pundits/shills found silver linings behind every gloomy indicator. (Either by ‘mis-reporting’ the event altogether or by taking the situation seriously ‘out of context’.)
Energy is hovering at a disturbingly high level as investors ‘maximize’ their returns during ‘Winter’ for most of the world…
I mention these tiny tidbits because they aren’t covered in the following headlines:
If the settlement isn’t enough to make you ‘whole’…tough! Take the settlement and sign away any claim for future damages or leave it and sue (than let us know how that works out for you…in say another dozen years.)
Welcome to ‘Justice’, Reagan style.
If you aren’t rich enough to ‘own’ a court then you have no business there! (Because the fuckers sure aren’t there to help/protect YOU, they’re there to protect the ‘people who matter’, The One Percent!
Because we certainly have to very different ‘outcomes’ here between BOA and Wells…(with BOA bleeding due to the massive losses it has suffered on the paper issued by Countrywide.)
If you have a problem with that, see the above article…
Meanwhile:
Next on the hit parade:
What this warning really means is for every winner there must be a loser, so when the whole ‘shell game’ comes crashing down, don’t get caught with your paw in the cookie jar!
If this were a ‘legitimate enterprise’ there would be no profit in ‘transaction speed’…the lynch-pin here is ‘legitimate’.
We already know the stock market is a gigantic fraud. (Full disclosure, Gegner doesn’t own ANY stock! Or much of anything else for that matter!)
Next!
Speaking of which…
Speaking of ‘no surprises’:
But we are finding that isn’t the only thing the ‘free marketers’ are ‘dead wrong’ about…as our final headline informs us:
Why do they keep throwing ‘money’ into a bottomless pit?
Is it because ‘free market capitalists’ are insane?
This is what their behavior tells us.
The ‘wheel’ of commerce is broken. Let’s suppose they did find a ‘new product’ to peddle to the masses. Everybody is broke thanks to capitalists who pay themselves first and bankers who skinned every customer to the bone! (Insane interest rates on credit cards!)
In case you don’t see the ‘connection’ A fueled B. Employees who couldn’t ‘make ends meet’ with their paychecks tried to ‘make up the difference’ with their credit cards…and nobody can ‘eat credit’ for very long because of the extreme expense.
Needless to say our very distorted finance system collapsed under its own weight.
SO…when you hear some blow hard waxing poetic about yet another ‘imaginary’ recovery, ignore them. it’s just happy talk to keep you from despair.
Because we all know what happens when ‘desperation’ gets a toehold…
Thanks for letting me inside your head,
Gegner
The week ‘ends’ here and what a week it’s been. The stock market basically ran in place all week while the pundits/shills found silver linings behind every gloomy indicator. (Either by ‘mis-reporting’ the event altogether or by taking the situation seriously ‘out of context’.)
Energy is hovering at a disturbingly high level as investors ‘maximize’ their returns during ‘Winter’ for most of the world…
I mention these tiny tidbits because they aren’t covered in the following headlines:
Bank Deal Ends Flawed Reviews of ForeclosuresAnd like many things with our decidedly corrupt banking system, the foreclosure process was riddled with fraud…much to the chagrin of beleaguered borrowers.
By JESSICA SILVER-GREENBERG
As quick justice, regulators are giving cash payments to 3.8 million borrowers, but the deal is actually a way to paper over a deeply flawed review of foreclosed loans across America.
A bank reversed the foreclosure of Christine Lucier, but her home, while empty, was vandalized.
If the settlement isn’t enough to make you ‘whole’…tough! Take the settlement and sign away any claim for future damages or leave it and sue (than let us know how that works out for you…in say another dozen years.)
Welcome to ‘Justice’, Reagan style.
If you aren’t rich enough to ‘own’ a court then you have no business there! (Because the fuckers sure aren’t there to help/protect YOU, they’re there to protect the ‘people who matter’, The One Percent!
DealBookIs this a case of some banks have it and some banks don’t or did they manage to confine the mortgages written in the economic desert to certain lenders while consolidating ‘performing loans’ to, er, ‘others’?
Wells Fargo Profit Jumps 24% in Fourth Quarter, Driven by Mortgages
By JESSICA SILVER-GREENBERG 33 minutes ago
Wells Fargo reported $5.1 billion in profit for the fourth quarter on Friday, a 24 percent rise. For the past 12 quarters, profit at the bank has increased.
Because we certainly have to very different ‘outcomes’ here between BOA and Wells…(with BOA bleeding due to the massive losses it has suffered on the paper issued by Countrywide.)
If you have a problem with that, see the above article…
Meanwhile:
F.A.A. to Begin a Review of Boeing 787sI’ve got your FAA report right here and you know what it says? Globalization is a lousy method for building commercial aircraft!
By JAD MOUAWAD 21 minutes ago
Federal authorities said they would order a review of electrical systems in Boeing’s new 787 Dreamliner following a spate of incidents, including a battery fire earlier this week in Boston.
Next on the hit parade:
Errors Mount at High-Speed Exchanges in New YearWhat are they trying to say? That ‘skinning’ people quicker is going to make the whole world more prosperous? No they’re not saying that at all.
By NATHANIEL POPPER
The United States’ 13 public stock exchanges have been competing to offer the fastest and most sophisticated trading software, creating more opportunities for technology errors.
What this warning really means is for every winner there must be a loser, so when the whole ‘shell game’ comes crashing down, don’t get caught with your paw in the cookie jar!
If this were a ‘legitimate enterprise’ there would be no profit in ‘transaction speed’…the lynch-pin here is ‘legitimate’.
We already know the stock market is a gigantic fraud. (Full disclosure, Gegner doesn’t own ANY stock! Or much of anything else for that matter!)
Next!
DealBookThe ‘laugh’ here is the idea that the financial markets can even operate without massive fraud! Remove the creative accounting and the web of lies that cover it and you’re holding an empty bag!
Regulators Propose Overhaul of Benchmark Interest Rate
By MARK SCOTT 34 minutes ago
European regulators on Friday called for a major overhaul of Euribor, a benchmark interest rate, but stopped short of demanding direct regulatory oversight in the wake of the rate-rigging scandal.
Speaking of which…
After more than two decades at the Treasury, Mr. Geithner will re-enter private life.Actually there is nothing remarkable about Mr. Geithner’s attitude. All along he has taken the stance of ‘A failure to prosecute on your part does not constitute a ‘crisis’ on mine’ (and this despite his being on the list of those who should have been prosecuted!)
Geithner’s Tenure Defined by Financial Crisis
By ANNIE LOWREY
As he looks back on a tumultuous tenure, Timothy F. Geithner, the Treasury secretary, is remarkably sanguine.
Obama’s Chief of Staff Pick Is Said to Be Down to 2
Speaking of ‘no surprises’:
Dr. Alvin Rajkomar tracks patient data on a Samsung Galaxy Note. A new report questions whether electronic records reduce health care costs.In a rare moment of ‘candor’ the corporate owned media is throwing the decidedly Libertarian Rand corporation under the bus for it’s lame proposal that the exponential rise in healthcare cost was linked to ‘redundant’ recordkeeping.
In 2nd Look, Few Savings From Digital Health Records
By REED ABELSON and JULIE CRESWELL
The conversion to electronic records has failed so far to reduce health care costs, according to a new study by the RAND Corporation, which issued a rosier report in 2005.
But we are finding that isn’t the only thing the ‘free marketers’ are ‘dead wrong’ about…as our final headline informs us:
Japan Approves $116 Billion for Urgent Economic StimulusIsn’t the definition of insanity doing the same thing repeatedly and each time expecting a different result?
By HIROKO TABUCHI
The money will go toward public works projects, small businesses and subsidies for companies that invest in new technology.
Why do they keep throwing ‘money’ into a bottomless pit?
Is it because ‘free market capitalists’ are insane?
This is what their behavior tells us.
The ‘wheel’ of commerce is broken. Let’s suppose they did find a ‘new product’ to peddle to the masses. Everybody is broke thanks to capitalists who pay themselves first and bankers who skinned every customer to the bone! (Insane interest rates on credit cards!)
In case you don’t see the ‘connection’ A fueled B. Employees who couldn’t ‘make ends meet’ with their paychecks tried to ‘make up the difference’ with their credit cards…and nobody can ‘eat credit’ for very long because of the extreme expense.
Needless to say our very distorted finance system collapsed under its own weight.
SO…when you hear some blow hard waxing poetic about yet another ‘imaginary’ recovery, ignore them. it’s just happy talk to keep you from despair.
Because we all know what happens when ‘desperation’ gets a toehold…
Thanks for letting me inside your head,
Gegner
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