Wednesday, October 10, 2012
If you imagine a long horizontal line with very many different gradients of 'stupid', the very bottom would be 'retardation' which is something we wouldn't make fun of because it is biological.
At the very top of the stupidity chart would be 'ignorance' and that is something we openly ridicule and mock in others because its based on intentional refusal to be aware or a rebellion toward seeking knowledge.
So many examples.. Just turn on 'The Tonight Show' with Jay Leno and watch the 'Jaywalking' segment where everyday people proudly laugh and high-five each other when unable to answer basic questions on spelling, current events or government.
Something we've observed a lot lately in talking to people and reading comments left to us, is the deeply ignorant notion that the economy is better. OK, Why? And the response: 'The stock market has gone up'.
This imbecilic belief we've heard not simply from strangers but from some family and acquaintances, which is enough to make one permanently cut down some branches on the ole' family tree along with other dead rot limbs.
We've talked endlessly about Fed manipulation, how the Fed is currently spending $8 in new debt to generate $1 in spending, etc.. on and on..
But numbers simplify things so let's look at the market.
Today, it dropped -128 pts to close at 13,336. It dropped another -110 pts or so yesterday so in two business days that's a market drop of around -228pts or so.
On September 12, the Dow was at 13,333. This was right when Bernanke announced $40bil/month to be put into the market indefinitely (QE3) which was in addition to the $45bil/month via Operation Twist 2 which is to run out by years end.. So that's currently $85 billion a month.
Today October 10th, as pointed out previously, the market closed at 13,336. So that means in pretty much one full calendar month after $85 billion spent by the Fed, the Dow rose a Whopping 3 points! Three...
~ "I buy/sell on eTrade"
December 10, 2007 was the last time the Dow closed in the 13,330 range. That was just about 5 full years ago (or 58 months).
So in order for the Fed to artificially manipulate the stock market to rise back to that level, it had to create in new public debt over $4 Trillion dollars to this point (we're adding QE1, QE2, Operation Twist 1+2 and the beginnings of QE3)
$4,000,000,000,000 Four Thousand Billion
Not a penny of that has gone into the REAL economy, the everyday economy that we the 99% are active daily participants in. None of it has gone to real job creation unless one's definition of work is temping.
No politician with the exception of Ron Paul and maybe a handful of congresspeople have called out the Fed; have asked or demanded the Fed stop the destructive spending which adds to the National Debt and weakens the currency.
The President sure hasn't.. He re-nominated the Chairman in 2010 for another four-year term.
All of the Republican nominees back in 2011/early 2012 with the exception of Paul were pretty silent as well..
And what will this election ultimately hinge on? Stupid people with stupid reasons for voting...
Perhaps its based on skin color or religion.. Or one looks better in a suit or has a smoother voice. Or because someone 'won' a debate or because celebrity X endorses so-n-so and how can he/she be wrong?
Or because they resent Big Bird being attacked (now if Elmo was attacked, that's a different story! lol) Or someone who has lived in a bubble suddenly hears the stock market went Up, and now feels hopeful after four years of misery, thus voting for the incumbent.
The US economy is complex. The global economy even more so. Everyone around the world is either hitting recession once more or is perhaps 1-2 quarters of poor GDP away from making it officially so. And all the economies of the world are interconnected in this 'New World Order' tapestry (or web)
This includes Europe.. and China.. and South America.. and the US, and even a Dow 50,000 isn't going to mask the stench of stagnancy.
Not sure how to fix that problem... ignorant voting. Have each person take a test of basic knowledge? Or re-institute a poll tax? Or raise the voting age to 65 since senior citizens statistically are more informed and educated politically as a group than any other age demographic...
Really not sure what do to prevent ignorant voters, but maybe that's what makes America so great: the freedom to choose Not to be informed.. the Constitutional right to vote for any candidate for any reason even if reasons are just.. you know... out there..
Maybe that's why so many have fought and died in our nation's history-- to have the right to vote even when blissfully unaware of what anyone stands for...
Posted by Susquehanna at Wednesday, October 10, 2012