Saturday, December 8, 2012

Let Them Eat Cake

I am cancelling my subscription to Elliott Wave Theory.  Many would argue that it's well overdue.  I put up with their theoretical bullshit for years now merely so I could gain access to their graphs and quantitative research, but I've had it with the nonsense.  Elliott Wave Theory is just another fabricated excuse for ignoring reality and personal responsibility...

Their latest unfounded assertion is that this fiscal cliff driven "soak the rich tax grab" by government is purely a sign of "bearish social mood", having no other justification.  They are fully bought in to the convenient "makers" and "takers" false dichotomy that sees the 47% as being a drag on the "productive" members of society.  In reality this is just more wishful thinking by those who have yet to be directly affected by the poverty-inducing effects of the global pyramid scheme.  There has been one and only one overwhelmingly pervasive social mood these past thirty years: GREED, GREED and MORE FUCKING GREED.

Below is the only chart we need to see to know that the latest issue of their newsletter is pure toilet paper. This is the distribution of wealth in the U.S. at this late juncture.  This type of Third World wealth distribution is unsustainable in a country where people are used to a decent standard of living.  For the generally under-armed Romney class to go all in against the middle class which is now stockpiling guns at a prodigious rate, shows how out of touch and oblivious these greed worshippers are at this point.  Putting the majority of this country's children at imminent risk of extreme poverty, only to further amplify the extreme wealth of a handful of Americans, is unconscionable and puts us all at risk.  At the end of this, no one will be talking about "makers" and "takers" - that I can say with 100% certainty.  If as EWI asserts, Warren Buffett is onboard with tax increases, it's only because he knows a thing or two about history and reality - a lesson the Ayn Randers have in front of them.