There are still some folks out there who think our economy is just fine. They still think the rest of us "whiners" (thanks Phil Gramm). Unfortunately, in their world of hyper-individualism, we are all either "winners" or "losers". as more and more of them become "losers" there might just be some measure of confusion -- too bad!
The fact all economic indicators are trending down, states are running out of money for unemployment benefits, and Wall Street is being exposed as THE great "Ponzi scheme" is blowing right past these fools.
Remember these are the same folks who will sit and tell you how Social Security is a "Ponzi scheme", and how we MUST invest in the stock market -- or other private financial "instruments".
I always wonder how many of these "experts" will thank their lucky stars all of their "fixes" for Social Security were ignored, pushed aside. It may well be all they have to retire on.
We now have cases of well-to-do folks being plunged into just-getting-by-land. Thanks Mr. Madoff.
Like many other folks, I wonder how he managed to keep all those plates spinning for so long. It's like an "I Love Lucy" plot -- except it doesn't end with, "Oh Lucy", "Oh Desi" -- music -- fade.
The Old Man seems to be the "designated guilty party" -- family members, employees, all uninvolved, get away scot free --- one old guy keeping 50 BILLION plates up there spinning --- what a guy!
Looking at it, I'd say he's a really good Dad.
In addition, AIG no longer looks like an Insurance Company --- I think it's more like a purpose built money shredding machine -- everything in, nothing out -- no wonder they have to pay such high "retention pay" -- plain, ordinary folks (like UAW auto workers, or housewives) might not be quite as efficient turning billions into NOTHING.
Does anyone think all that TAXPAYER money might have gone into "fixing" their "Ponzi scheme"?
As I said before, right now, all of Wall Street seems to be THE "Ponzi scheme".
Perhaps our Labor Day holiday should be eliminated -- to be replaced by "Ponzi Day".
Well, it really doesn't matter -- after all, our "betters" have pronounced us to be a "Post Industrial Society".
If we are really lucky, we might soon be elevated to "Hunter - Gatherer" -- but first, we might go through the "third world, exploited for both our human and natural resources" period.
Onr thing you can be sure of -- no matter what happens, no matter how many people suffer, no matter how many starve -- our Republican "betters" will be there telling us how we are not "conservative" enough, how we must "privatize", how having any sort of "safety net" just makes people "weak".
At least we can depend on that.
FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and
Credit Scores
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Today, in the Calculated Risk Real Estate Newsletter: FHFA’s National
Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores
A brief excerpt:...
3 hours ago
1 comment:
"no wonder they have to pay such high "retention pay" -- plain, ordinary folks (like UAW auto workers, or housewives) might not be quite as efficient turning billions into NOTHING."
Actually the reason they have to pay so much money is that it is really hard to find people that immoral.
I mean I've got some morals I'd rather whore or sell crack than do that.
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