By Debbie Menon
AMERICA, allowing big and corporate business to drive the bus, has found itself in the ditch, or over the cliff in freefall, and I fear many passengers on the bus will die, or suffer grave financial injury! A "Meltdown" they call it!
The Wall Street
Stock market, since its inception, has never been much more than an image, a
simulacrum, of trade, built on hot air, hype, large amounts of money, chutspah
and, not unlike a Mississippi Riverboat poker game, intended to milk the
small-holder and player of his holdings and put it into the purse of the
professional gambler who plies the river. And, as will most balloons, given
enough hot air, pumped up and heated to its extreme in an attempt to make the
most of nothing substantial, it has burst, or "melted down."
In China they have shot men in the back of the head for doing things which American politicians (and US businessmen and corporations) have been doing for years. But then, the Chinese are inhuman, as we all know! They put paint, or something, in the rice-flour, the cat-food, and the baby formulae and toys. They probably torture, as well!
I am neither shocked nor surprised, and I do not believe any thinking man or woman should be either. When something such as "The Market" is so overinflated, artificial, and supported by such unsubstantial heat as is most of those "markets, " it is inevitable and the only shocking or surprising thing to me is that it has not happened long ago.
Of course, that is exactly what it has done, long ago, and at regular intervals... but like children who never learn, or blind optimists who are trying to milk one more dollar out of a sick cow, they have propped it up, pretended it didn't happen, and reconnected the money machine.
They never learn, and they will do it again. The market will be restored using public money, propped back up, invigorated with more of the public funds,, and the hogs will be back at the trough, as ravenous as ever, to mix a few metaphors. Talk about putting lipstick on a pig! And, the losers will recoup, and beat their way to the doors and try again, in vain hopes to recover some of their losses from the last "meltdown."
Fools recycle easily.
You must remember that every dollar lost in the Stock Markets is someone's gain. Every coin has two sides, and the winners and losers are allowed to look at only one.
You do not think that the men who called themselves "Lehman brothers," or "Merrill, Lynch, Pete, Frankie and Finch," or whomever they are, or were, are going to all go to the poorhouse, do you? No, many of them will retire in comfort to wherever such people retire in comfort, and the young ones will be back in the game tomorrow morning, fresh, bright eyed, eager and willing to take your money in new offices with new names on the door.
The laws of the land will protect them. Caveat emptor!
'Twas Barnum who said, "You cannot cheat an honest man!"
It is too late now, the only way out is for America
to develop a positive trade balance... one of the most incredible jokes of the
As with most tsunamis, details cannot be predicted, but this one is going to be spectacular, magnificent in its shock and awesome to behold, and all of that! And there will be many after surges. It is going to be something to watch, the spectacle of a lifetime if you are on high enough ground, move up the mountain a little higher.
When bankrupt, most bad managers usually just default, shut the doors, and debtors are left holding the bag. There is little else America can do! It is rapidly running out of options...that is why they can do nothing but sit on the beach and watch this great, majestic and awesome finale approach as it roars across the bar and builds. Some of the foolhardy, the fatalists and a few plungers may dash out to meet it, or even try to ride it, to go out with a bang, but most of them will go out with a whimper!
The only global arena of total superiority left is military and who will be the world's most mighty military? So now we are talking Israel? Israel will use this opportunity to make its move in the Middle East. Everyone will complain, no one will do anything!
This is not a George Bush or a Republican thing. It is an "American" thing for which every steward of US government affairs in the past hundred years can step forward and take a bow. Talk about fiscal responsibility. The nation is looking at a record, $407 billion deficit this year! The national debt is a staggering $9.6 TRILLION!
How true was Albert Einstein.
"Problems cannot be solved at the same level of awareness that created them." -- Albert Einstein
About the author: Debbie Menon is an independent writer based in Dubai. She can be reached at email@example.com.
... Payvand News - 09/16/08 ... --