"US job losses drive markets higher on stimulus hopes"
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IggyPride00
Does anyone else find it sad (yet comical) that the financial masters of the universe on Wallstreet are cheering poor economic numbers and driving the market higher because it increases the likelihood Helicopter Ben and the Fed will hand out even more free money and other goodies.
The game is so rigged right now its not even funny.
Last fiscal quarter Wallstreet got rich off tanking the Euro This quarter its the Dollar, and once they extract all they can from that they will move on to someone else's currency.
The system is perfect for them right now. By making sure the economy stays stagnant, they increase the likelihood the FED steps in to take action. All the while though they have made sure to make huge long bets on commodities across the board as well as shorting the dollar knowing that once the printing presses turn on for another round of "quantitative easing" that those prices will surge while the dollar crashes and they book huge gains. Oil is already at $83 and is poised to move much higher.
The big loser in all of this of course is the American people. While Wallstreet gets rich along the way the rest of the country is left to deal with what will soon be surging inflation and still high unemployment.
We have created a situation where it behooves big business to keep unemployment high because that keeps a lid on wages for workers and makes it impossible for the FED to take away the punch bowl or increase interest rates. Corporate profits have recovered faster than any other recession in the post war period, so this system is working well for them as it is now.
Anyone who thinks big business is stagnant because of Obamacare or tax uncertainty has fallen hook, line and sinker for the bright shiny object meant to distract from the general public from the reality of how badly they are being bent over as a whole for the benefit of the financial masters of the universe on Wallstreet.
If there was any doubt in anyone's minds that the Congressional liberals and conservatives are in on the racket and merely minions of monied interests it should have evaporated this week. When Socialist Pat Leahey and Conservative Jeff Sessions (with the personal approval of Jim Demint who has a blanket hold on all senate business) come together to push through a bill at warp speed that would have given a federal seal of approval to all of the robo signer notary fraud that banks have been committing the past decade it tells you all you need to know about Congress being bought and paid for. Couple that with the Supreme Court overturning over 100 years of case law earlier this year (Citizens Unites) to make it easier for corporate interests to get their hand picked politicians elected, and we are in the midst of a power play (started with TARP 2 years ago) the likes of which this country has never experienced.
I for one am just disgusted at what has happened to this country. During the savings and loan scandal over a 1,000 people were put in prison. The 2008 meltdown was 10 times the size and not one conviction thus far. Our markets have been hijacked by high frequency trading where computer algorithms are now running the economy. Fundamentals mean nothing anymore as bad news is considered bullish and anything that even hints at recovery is poo poohed because it might mean less free money to gamble with from the fed.
The grand finale is upcoming though as the foreclosure fraud hits the fan and banks are stuck with trillions of dollars of worthless mortgage backed securities because they did not do their legal due dillegance as far as the paper work goes when they were circle jerking mortgage products back and forth to eachother the past few years.
The way this is headed they are going to be stuck holding all that paper backed by mortgages they won't be able to legally foreclose on which will make them worthless. Guess who they are going to turn to when the shit really hits the fan on that one?
My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012 only to find that things will be no different under new leadership because they are ultimately all answering to the same corporate master. The federal govt, FED, and Wallstreet have formed an unholy trinity that is bleeding America dry right now without regard to the destruction they are causing to ordinary people.
I am not sure what it is going to take to wake people up, but I find the lack of outrage to the rampant corruption in this economy somewhat disheartening.
Does anyone else share my disgust right now with the state of affairs in this country? -
majorspark
Yes, I am quite disgusted. I agree with much of what you say. I posted an article I read a while back a couple of times on this site. The article is nearly five years old if I recall and the author saw it coming. He referred to what you describe as the parasite economy.IggyPride00;512722 wrote:My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012 only to find that things will be no different under new leadership because they are ultimately all answering to the same corporate master. The federal govt, FED, and Wallstreet have formed an unholy trinity that is bleeding America dry right now without regard to the destruction they are causing to ordinary people.
I am not sure what it is going to take to wake people up, but I find the lack of outrage to the rampant corruption in this economy somewhat disheartening.
Does anyone else share my disgust right now with the state of affairs in this country? -
Manhattan Buckeye"My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012 only to find that things will be no different under new leadership because they are ultimately all answering to the same corporate master."
So I take it you're voting for the DEMS and the Messiah again? What is your point? I don't get the 'regret' part, if you're disgusted with the status quo, why 'regret' that it could change? -
BGFalcons82
A few opinions:
1. Our world is no longer divided as it once was and we, as a country, are more affected by changes/chaos/uncertainty in countries not named USA. The Euro, the Yen, and all other currencies are more in play in our daily lives than ever before.
2. It's not just the fed and the Star Chamber controlling our economic futures as we have become beholden to the Chinese and anyone else financing our debt. If and when they quit buying dollars.....we better be strong enough to live within our means. Right now....no way.
3. The foreclosure/housing bubble is of our own doing. When the government forces lending institutions to lend money to people that have no ability to pay it back (all in the name of housing "fairness") and then these institutions figure out a way to package and sell them to people who are interested in making a quick buck, then we reap what we sow. Common sense and fiscal standards were tossed aside so that people making $25K/year could move into $200,000 homes with absolutely no intention of paying off their debt. Many on the Left say it was a result of de-regulation, so that they don't have to face the truth of what Clinton/Frank/Dodd purveyed on the country. In reality, the government held lending institutions hostage to more regulations should they decline their extorting them to play "fair".
4. I'm not a defender of the Fed, as we lost our standing when we ran away from the gold standard. They are almost powerless at this time because they can't lower interest rates any more to spur economic activity as they can't go less than 0%. All they can do is buy our own debt and find financiers to buy our dollars, which are worth less and less every day. Where is the outrage over the fact the once-mighty dollar is now as worthless as it has ever been?
5. People can wail and complain about profits, but businesses MUST be profitable before they can hire anyone. A business in financial trouble doesn't hire anyone, they let them go. To me, learning of business profitability is a positive sign as without it, there can be no job gain nor growth.
I'm in agreement with majorspark as this has been foretold for at least 5 years. Not one leader has the cajones to tell us the truth about what awaits us due to our greed for unending government spending. -
believer
I tend to feel your pain with everything except "My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012."IggyPride00;512722 wrote:My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012 only to find that things will be no different under new leadership because they are ultimately all answering to the same corporate master. The federal govt, FED, and Wallstreet have formed an unholy trinity that is bleeding America dry right now without regard to the destruction they are causing to ordinary people.
I am not sure what it is going to take to wake people up, but I find the lack of outrage to the rampant corruption in this economy somewhat disheartening.
Does anyone else share my disgust right now with the state of affairs in this country?
Everyone agrees that DC and Wall Street are in bed with each other but Federal spending under Obama/Reid/Pelosi makes the Bush Administration look like friggin financial geniuses. I have a hunch that if the Repubs don't show progress once they regain the House and possibly the Senate they'll be out on their asses just as quickly. And rightfully so. We NEED to keep firing these idiots until they get our nation's fiscal house in order so we can all climb out of this economic funk. -
BGFalcons82
believer;515319 wrote:I tend to feel your pain with everything except "My only regret right now is that we are going to throw the Democrats out of power and then maybe Obama in 2012."
Everyone agrees that DC and Wall Street are in bed with each other but Federal spending under Obama/Reid/Pelosi makes the Bush Administration look like friggin financial geniuses. I have a hunch that if the Repubs don't show progress once they regain the House and possibly the Senate they'll be out on their asses just as quickly. And rightfully so. We NEED to keep firing these idiots until they get our nation's fiscal house in order so we can all climb out of this economic funk.
A+ believer. -
CenterBHSFan
We need a "Like" button haha! -
Belly35
Obama not for big business ...liar
NOT MY PRESIDENT .... anyone else want to join -
BGFalcons82
Obama's finest hour - http://www.cbsnews.com/8301-503544_162-20019468-503544.html
Charles Krauthammer weighs in as well - http://www.thefoxnation.com/charles-krauthammer/2010/10/14/krauthammer-one-greatest-oops-american-history
So now...$500,000,000,000 into the cure-all stimulus bill, we learn that the guy that sold it to us doesn't believe his own sales-job. And now....he's stumping for $50,000,000,000 more to fix/repair roads and bridges because they are shovel-ready. Which is it, Barry? Oh yeah...by the way...he wants all of you to send your Democrat Reps and Senators back for more of this fun and games. And he wonders why his approval ratings are equal to or below GWB's. -
believer
BHO has a hyper-inflated ego. He's about to get a much overdue reality check.BGFalcons82;519587 wrote:Obama's finest hour - http://www.cbsnews.com/8301-503544_162-20019468-503544.html
Charles Krauthammer weighs in as well - http://www.thefoxnation.com/charles-krauthammer/2010/10/14/krauthammer-one-greatest-oops-american-history
So now...$500,000,000,000 into the cure-all stimulus bill, we learn that the guy that sold it to us doesn't believe his own sales-job. And now....he's stumping for $50,000,000,000 more to fix/repair roads and bridges because they are shovel-ready. Which is it, Barry? Oh yeah...by the way...he wants all of you to send your Democrat Reps and Senators back for more of this fun and games. And he wonders why his approval ratings are equal to or below GWB's. -
IggyPride00
Helicopter Ben today all but confirmed stagflation is heading to a town near you. The Fed wants inflation, and will print as many dollars as necessary to make it happen. Food and Energy prices will surge while wages stay flat, and Middle America is about to take it on the chin. Sure sounds like a good deal to me.