Monday, June 17, 2013
Feels like we've seen this and written on it time and time again..
Market goes way up based on hope the 'Bearded Bastard' will give all the banks and corps and Investors more free money to play with and re-invest in themselves..
And what can the weakling do but comply ultimately..
No different than a casino that is hustling and bustling with nary a parking space to be found much less any elbow space at the gaming tables..
It all looks really good to the deeply ignorant populace who only wants to see the Dow go up and couldn't bother to understand the 'why' or 'how'...
If the clock is ticking, who cares what's occurring behind the face.
In a way that's how casinos and all business works isn't it-- you start a company and if you make gobs of profit, then everyone's happy.
Until you turn a profit or file another Chapter 11.
You pretty much only break up the company if your company was sold to a Bain Capital-like firm that finds greater profit selling off the little pieces than to keep the whole business solvent.
Of course when business magnates file, they never see themselves as going bankrupt... merely 'restructuring' or 'reorganizing' or some other professional term
"I never went bankrupt. And let me just tell you. If you look at our great business people today... All of them have done the same. They use and we use the laws of this country, the bankruptcy laws, because we’ll buy a company. We’ll have the company. We’ll throw it into a chapter. We’ll negotiate with the banks. We’ll make a fantastic deal. We’ll use those. But they were never personal. This is nothing personal...
I did very well with the casinos, very well. But then what happened with Atlantic City was Philadelphia happened, lots of other places happened, Delaware and such. And what I did is reduce the debt from a billion eight to like $300 and some odd million, by using intelligently the laws of this country.
Now, people could say, "Oh, gee, isn’t that terr--" I never declared-- this is nothing to do with me, personally. This is just a business...
If you look at our greatest business people, most of them, in order to pare debt or change a company or change a structure, most of them and many of them and some-- the best ones, and I name some of ‘em. I could name 25 more. Have used the laws to take a deal."
He'd probably say 'thank you' if you called him that...
He never went bankrupt, as he states, because he never personally had to suffer financially in any way.. and he basically brags that the rules of the system are in place to always allow those like him-- the 1% to have a perpetual 'reset' button when things don't go their way..
Case in point-- the 2008 market crash followed by QE
And those like Trump are the financial elite who are destroying this nation from within and using the weak, corrupt and effete Bernanke as their 'boy' to get everything they want to see their stock shares, investments and corporations artificially raise in value.
Its really a twisted world we live in and peaceably accept... Think about it..
In order for a normal person to get $1 back in interest in their savings account, the bank via fractional reserve lending has to make $1,000 from your holdings..
And in order for the average pee-on peon to hope to have a job that based a basic to barely adequate wage, the company has to be able to profit more from your physical and mental labors than what you get in return.
And everything is incremental...
The Nazis perfected incrementalism in the camps-- feed the workers just enough mush that they wouldn't simply collapse and die and thus not complete the work demanded upon them... And of course never provide enough food to allow them to feel human
And this way, if you really needed to turn one against another, you simply had to offer a chocolate bar or an apple
Really no different in the work force today when you strip things down to its barest elements. Some people will shake their heads and disagree.. That's fine..
And the smart ones.. the ones that truly get it.. Every morning they wake up, brush & floss their bucky beavers and wish/hope/pray This is the day the market drops to a point the Bearded Bastard can Not save the day with more chicanery.
The day the Trumps of the nation and world truly start to feel some pain along with the rest of the populaces of the globe..
Spinning plates can't be permanently spun,
Posted by Susquehanna at Monday, June 17, 2013