It appears that Wall Street (and CNBS by proxy), having laid off a big chunk of the rest of America are now leaping for joy at the prospect of cutting their own kind from the payrolls. So it seems that the rats are now feeding on their own and as only rats could, still enjoying the feast. However, contrary to what the bad guy said in Skyfall, knowing the Ayn Randists, only one will come crawling out of the barrel at the end...
The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Wednesday, December 5, 2012
Rats In a Barrel
What is so exciting? I was watching CNBS on mute today and they kept flashing up Citigroup which was having a most excellent 7% rally. Then I read the news and realized that Citigroup is cutting 11,000 bankster jobs. All of the bank stocks were up big time on the bloodletting.
Labels:
deflation,
market crash,
Ponzi Scheme