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Wednesday, July 13, 2011

Two-faced

~ Sure looks like the middle finger doesn't it?

Yesterday the Dow dropped down to 12446.88

Supposedly it was due to fears over Moody's dropping Ireland's credit down to 'junk' status, meaning it would need a 2nd bailout (as will Portugal eventually and which Greece is about to get) .  The financial media said the drop was additionally due to uncertainly involving Italy and on a broader level, the EU's survival itself, fearing it could possibly plunge the world into a second recession or worse... or so they say...

Today as of 3p, the Dow has risen about 100pts.

Whewww~  Guess that means no more problems, yes?

Oh wait... I know why the market really has risen...

"Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing."  -CNBC

~ Get that folks.. its in the works.  Only 13 days after QE2 ended

Told you the little investor piggies want to continue sucking on those government teats while verbally ripping the unemployed as 'losers' because they dare to need supposed 'handouts' like unemployment checks to survive.  See to them, its you everyday people who are sucking the government dry, instead of finding work on their own.  And that ferret Bernanke, whose Only interest is pleasing markets and banks, is more than happy to provide the free money; the funds we really don't have and what this whole BS theater of debt ceiling debate is about.

Here's another little irony in all this.  Remember our dear beloved President threatening yesterday that Social Security checks may not be sent out if the debt ceiling isn't raised?

From the Washington Examiner:  "Here are the facts, as reported by MarketWatch and the Bipartisan Policy Center. You do the math:

* The federal government receives approximately $200 billion in revenues each month.

* Interest on the national debt in August will be approximately $29 billion.

* Social Security will cost about $49. 2 billion.

* Medicare and Medicaid will cost about $50 billion.

* Active duty military pay will cost about $2.9 billion.

* Veterans affairs programs will cost about $2.9 billion.

If you've been punching buttons on your calculator, you know that still leaves $39 billion each month."

So Social Security is $49.2 Billion/month which over a full year is around $600 Billion.   Where have I heard that number expressed before?   Hmm..  Oh yes, when that piece of shit Bernanke gave $600 Billion to Wall Street at $75 Billion/month with Obama's blessing last September so 'fat cats' could get fatter.

Trader 1:  Goodness, I just lost my shirt today
Trader 2:  I've only lost my bra so far but I'm getting there..

So if you're an everyday person, who or what should you be hoping?

1)  Even if you're a fiscal conservative, you want the debt ceiling raised because the results of not raising, could end up hurting 10s of millions of innocent people who do not deserve it; your family, friends, co-workers, neighbors...

2)  If its possible, you want Obama to succeed in getting the ultra-wealthy-  the multi-millionaires and billionaires to pay more taxes and take some financial responsibility for the mess they created.

3)  You want the markets to drop and drop Hard.  The worse the markets, the worse traders and investors do. It also means the worse banks and financial do.   These are not your friends and they don't care about you.  They are the entities trying to foreclose on your home or charge you 30% interest on your cards, then take everything you own if you miss one payment.

These are cockroaches, rats and every other accurate verminous depiction one can possibly think who only care about making profit and nothing else.  Neither how it affects country or community;  only focused on their financial enrichment.

4)  And in the future, you want to be hoping for a true 3rd candidate to come out of the woodwork to really challenge the two-party status quo.  Even if you're loyal to one party, the introduction of a sincere 3rd party candidate is the only way to bring fresh and unique ideas into an election and stop both parties from campaigning as if its still 2000.

1 comment:

  1. Excellent post with some tough but solid good points. I think the world should read your blog every day.

    ReplyDelete

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