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Talking Junk Economics and Eating Caviar
by stan Thursday, Feb 11 2010, 9:35pm
international / social/political / commentary

Politicians, Economists, Bankers and Corporatists continue to spout pure, unadulterated shit (lies of recovery) while in the REAL WORLD the global economy slips further into decline. However, the public seems to be buying the nonsensical drivel issuing from the mouths of paid commentators, partisan economists, and puppet politicians – but not for long!

While the lives of the majority are reasonably stable you could read them Alice in Wonderland and they could care less; however, the next economic plunge threatens to upset the tenuous grip Wall St fantasy has over economic reality. The next economic plunge, to occur soon after the World’s Reserve/Central Bankers return from their ‘secret’ crisis talks in Sydney, promises to be a doosey!

Not even the most insular middle class delusionist or illiterate red-neck is safe. Reality dictates that it’s all down hill from here – printing toilet paper money, ‘STIMULUS,’ is NOT a substitute for PRODUCTION!

None of the lies issuing from Wall St stand up to the slightest scrutiny or analysis, for example; Wall St continues to assure us all that we’re out of the recession and into recovery – in whose dream is that codswallop a reality, I’d like to know?

It is as plain as day that the GLOBAL economy is about to plunge deeper into ‘recession.’ The principal indicator of recovery, as every real economist is aware, is the level of P-R-O-D-U-C-T-I-O-N. It is production that drives all the wheels of a HEALTHY economy. What we see instead of production is what is laughingly called “stimulus;” does it really make a difference to a corpse?

The economy as we have come to know its devolution over the past half century remains in a terminal state; DEAD in other words; that is the REAL state of the GLOBAL economy.

No body in this universe is able to revive what has been so effectively DESTROYED by corrupt, thieving, lying cheating and bludging, Wall St bankers, financiers and mega-corporate CEOs!

When the economy shifted from a production-savings model to a debt/credit-fuelled frenzied consumerist model the dye was cast, collapse was inevitable! We are experiencing that collapse now and it has only just begun!

Where do our elected leaders stand in times of crises, especially their attitude to those rogues and criminals responsible for the collapse? Obama’s recent statement to Bloomberg media sums up the political position of all Western lackey leaders:

“Feb. 10 (Bloomberg) -- President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay.

The president, speaking in an interview, said in response to a question that while $17 million is “an extraordinary amount of money” for Main Street, “there are some baseball players who are making more than that and don’t get to the World Series either, so I’m shocked by that as well.”

“I know both those guys; they are very savvy businessmen,” Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. “I, like most of the American people, don’t begrudge people success or wealth. That is part of the free- market system.”

Michael Hudson on Collapse and Oligarchy

http://www.bloomberg.com/apps/news?pid=20601087&sid=aKGZkktzkAlA

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