As of Tuesday this week, the Dow Jones Industrial Average had plummeted nearly 2000 points over five days; more than ten percent of its value had disappeared. What the heck is going on?
Pwr 2 the ANGRY peons!
GUILLOTINE WALL STREET!
GUILLOTINE THE NARCISSISTIC HOARDING DREGS!
This is why American election laws should mandate that a candidate have at LEAST a BA level education. Walker is a dropout with the background of a high schooler--so we can only expect this type of shallow analysis. Compounded of course by his innate lack of smarts.
and can't you say that our conglomerate corporate plutocrats made China what it is today along with the conglomerate corporate plutocrats from European Union. So did Americans by buying the cheap shit at Walmart and.......... it is quite hard to find made in America. They rebuilt the "Golden Gate" with Chinese steel?????????????? Without the oligarchs, plutocrats, globalists whatever you want to call these sycophants China would be not as big, would not of grown.
Anyway, consumerism is not the answer. Local and regional is the answer and we don't need all this crap, we have a throw away society because nothing produced any longer last more than a few quarters or years.
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Well, the markets have recovered since he wrote this article, so investors can worry about something else now.
I don't agree. Smarter con-men can come up with slicker criminal scams... like the ones spawned from the deregulatory climate that Mr. Kocehlin so fully captures via his satire on "freedom." This is not so much about individual intelligence or morality as much as it prompts keeping operational what this nation's founding fathers understood: That money concentration promoted tyranny as did any power concentrated into one office. THAT is why checks and balances were put into place through the design of 3 branches of government, each with specific powers (intended to act as counter-balances against one another).
For the moment, Big Money won. (It muscled all sensible regulatory frameworks out of the way.)
However, implosions in everything from costly climate chaos to massive economic contractions and the wars and conflicts both will fuel demonstrate how pathetic this model--a world run by Big Money--is.
It was true in the phase of feudalism and it's true now.
The People all over the planet are fed up... from Greece to Detroit.
Watch for falling debris.
It's temporary triage.
Yeah, I know. Nothing has been done to fix the underlying problems of 2008, and no one went to jail...same people even still in charge. It will happen again, and this time it will be even uglier. Sad.
Yowsa! nice article. :O)
I see it differently.
If you were a kid living on a trust fund and ran up a huge debt and some relatives extended to you 7 years of "hot off the press" dollars (Q.E. 1-3... which is into the trillions and went to bankers and their Wall St. affiliates), money that you'd never done a thing in your life to earn... and you finally went through that sum... where would you say the problem began?
The decision to POUR money--decoupled from HONEST measures of sound worth (in forms of actual earnings drawn from labor or resources) directly into bankers' coffers without remedying the problem--a lack of any regulatory controls on banking in its new (based on the deliberate eradication of the Glass-Steagall Act) dangerous, unbridled, sky's-the-limit speculation phase was never fixed.
The "can" was just kicked down the road... or until the gravity of the Ponzi Scheme began to implode on its own weight... with so much "magically generated wealth" right at the tippy top (where all of it managed to head) of the global financial pyramid.
In other words, this is not a DIFFERENT problem (or issue) from what occurred in 2007. THAT problem was purposely HIDDEN under printed capital to the tune of vast, vast sums.
This IS that same problem. Its ramifications are worse because nothing was done in the way of regulation to change what HAD been done. And with the sickening precedent in place that taxpayers bail out these high stakes casino hustlers and treaties like TPP in the works to PRECLUDE public opinion or open channels of redress--this is not just THE CRIME of the century, there's no graft comparable with it in the whole of world history apart from maybe trading Manhattan for $20 in wampum.
Oh, and when the oceans do rise, that $20 will seem the better long-term bet.
Shucks - how about a law degree, O has one ...
Well, I think we are saying the same thing. The Fed, treasury, ratings companies,academics, banks, brokerages (Ie Goldman Sachs and Co) Mortgage originators, Insurance companies, GMO's (Fannie Mae and Freddie Mac) ect were all in cahoots last time to drive dept and leverage to unsubstainable levels...they are in the process of doing it again with more in the pot on the poker table. Why should they worry? The government will bail them out again (so they think).
I wish someone would throw away society...
Sure. Punish the passengers on the Titanic for the idiocy and arrogance of its captain.
You're so hung up on your goodies-and-baddies version of the world you apply it even when society is discussed as a whole... and in jest.