Skip navigation

Demonstrating the amazing resilience of American Market-Economy capitalism, following an infusion of a mere untraceable trillions of freshly minted Fedbucks, the DOW-JONES has risen to the level of 11,000 from its slump to virtually 7,000 in 2009.

“Nobody ever thought we’d ever get near this level this fast,” said William J. Schultz, chief investment officer for McQueen, Ball & Associates. “Lacking any negative news out of companies, the rally will likely continue.”

Somebody is making a lot of bucks there, as can be verified with the multi-billion dollar pay-offs to the likes of:

David Tepper, CEO of Appalosa Management, a hedge fund.  He “earned” $4 billion personal income last year

And the government reported that for a change, employment figures went up by 163,000 in the previous month, instead of down, though they neglected to much note that a large part of the surge in employment was due to the temporary hire of Federal workers to do the census.  Aw shucks….

Meantime on some other planet, but in the same country, this little headline suggested something else:

 

Senators End Impasse on Extending Jobless Aid

And another 9 billion buckos were printed up to toss at those folks who just can’t pull themselves up by their own bootstraps like Mr Tepper did.   That’s more than twice as much as he made, for people doing nothing!!


Veterans constitute between 20-25% of the total US homeless; their unemployment rate is officially 21.1% (which, as in all things “official” should be taken with a large boulder of salt.)

Meantime around the nation tea-parties are held, in full patriotic fervor, calling for a return to the good old verities of self-reliance, no taxes, and naturally yellow-ribbon support for the troops, wherever they are and whatever they are doing.   While social services are denounced as “socialist”, and the cry “keep your gov’mint hands off my Medicare” is to be heard, none call for cut-backs on the government’s largest out-lay, that to the military.

Back on the Wall Street ranch, little items keep blurting out, which belie the happy headline of 11 thousand! and in Congress the endless buck-pass goes on, with testimony from none other than Alan Greenspan who asserted

“I was right 70 percent of the time, but I was wrong 30 percent of the time.”

And of course he was not responsible for the housing boom and bust, which as one and all agree, “nobody saw it coming.”  Though repeated again and again, this was not true, and throughout the fiscal follies of the last years there were major whistle-blowers inside the corporations which went poof, and outside.  But they were deemed party-poopers, and tossed out or shut up.  Meantime many of those most fully responsible now sit at the Treasury Department, at the right-hand of Obama, or still at the top of their corporate pyramids, raking still more “earned” income in for last year’s big profit-making.

But now we learn, as if one couldn’t have figured it out already, that Enron-style bookkeeping and number juggling was the province of not only of Lehman Brothers, but, well, gosh, everybody.   Even the Feds were in on it, keeping a lid on the stench coming out of the board rooms of all the big boys.  Presently one of those involved in, well, smudging the truth, hiding the shit, sits as top cop for these things: Timothy Geithner, present Secretary of the Treasury.

Lehman Channeled Risks

Through ‘Alter Ego’ Firm

Supreme Court Justice John “Corporations are People” Roberts

And just what does one imagine Mr Roberts channels?  Let them eat..

Claus Oldenberg, Cake

Advertisements

One Comment

  1. Dear Peasantry,
    It’s seems now all that’s left is the total collapse of the dollar now that the corporations have had their say. How many mega-pigs like Tepper will it take to consume what is left of the world’s resources? Let’s not forget the rubes obsessed with “partial birth abortions” who made it possible. Thanks.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: