The Dow made a new high on Friday, so the Idiocracy is wholly unconcerned about the lack of economic growth and jobs. Sure, there is the usual batch of Lamestream media articles asking the usual dunced question - "why are there no jobs?". Even after Friday's slightly better than expected jobs report, still there are several million fewer jobs than in 2007. Yet, it was taken as a sign to rally. Even as these articles are written, pondering the profound question as to why there are no jobs, some corporation somewhere is shipping jobs and entire industries overseas - "Where did all the jobs go? Quick, look under the bed, they have to be around here somewhere...".
No one is pounding the table saying:
1) The U.S. must stop trading openly with export mercantilists - impose tariffs on nations that have no environmental or labor standards. Actually, someone did pound the table on this, just this week - Pat Buchanan quoted the Pope while excoriating "Godless Capitalism". To think this blog has more in common with Pat Buchanan than it does with the totally irrelevant lamestream media at this point...
2) The U.S. must stop allowing individuals and corporations hoard cash in offshore tax havens. Force them to repatriate the cash or lose their access to U.S. markets and/or citizenship. Why didn't anyone question Apple selling $17 billion in bonds to pay *special dividends* just last week, when they are sitting on $150 billion in cash? i.e. much of their cash is overseas and they don't want to pay U.S. tax on it...
3) The U.S. must stop playing supercop for global multinationals and withdraw troops from the 145+ countries overseas, which is bankrupting the country
All of these things will be done of course, but only after something breaks again. Had these things been done even a few years ago, after 2008, this blog would have no reason to exist.
Four More Seasons of American Idol - And Still No Sign of a Real Economy
So the question on the table is how long will it take for the market to roll over again and all of a sudden awaken the Idiocracy to the fact that the real economy *still* no longer exists. What we have now is a monetary stimulus-fueled facade consisting of food stamps for the poor and *special dividends* for the ultra-wealthy.
By that point some different topics will be trending, and they won't concern L'il Wayne and Justin Bieber.
So pathetic. So predictable.
