Search This Blog

Sunday, May 09, 2010

?

A financial market that drops 1,000 points in less than an hour is not a financial market.
A financial system which offers savers no incentive to save, thus driving them to the so-called financial
markets, is not a financial system. By driving us into the "stock markets", the system ensures our impoverishment.
It is the great sucking sound of the transfer of every form of wealth to the powerful and rich.

Health Care means nothing. It only is going to keep me alive until the next downturn in around 2016.
Even the Secretary of Defense is embarrassed by a government and country which can only think of throwing money at weapons systems, and nothing else. Anything other than defense spending is "welfare" or "nanny country" or another dim-witted slogan.

And things move fast:  just a week ago I was saying that we are losing control of things; on Monday the third of May I was telling people face to face that that's what the next disaster will be... so the Dow freaks on the 6th! Perfect timing. I should start selling tickets.

2 comments:

Unknown said...

I'll bet you can remember the time when the nightly TV news didn't even mention the stock market. Same with the newspapers. That was business. It belonged on those pages you never looked at. You didn't have any money in the market, so who cared?

Of course, that's all turned on its head now. The Market (always capitalized) and its tentacles are the stuff of our lives anymore. As the Market goes, so goes the country, so goes me and so goes you. We make nothing anymore. We don't manufacture. We don't produce. What we do is push money around the huge gambling table we call the economy. Make the right call, brother, and get rich. Not that smart? Well, I'll be happy to take your money. And by the way, screw you and illusions about what's really going on.

Montag said...

Lord Keynes compared the financial markets of the mid-20th century to casinos, and implied that, as such, they were unfit to play their proper role.

He was not "on the take"...
Most economists in the news for the last 30 years have been in the employ of the "Casino" : bouncers, shills, grifters, hookers...