Tuesday, September 22, 2009

What should really irk us.

The country lost five trillion in wealth over the past two years.

The people who caused this financial nightmare have for the most part lost nothing. In most cases, especially at the top of the banking community where the real gambling with the country's equity took place, the biggest bettors got paid the most.

They walked away with billions in spite of the fact that their gross negligence and greed cost millions of working-class Americans their homes, their jobs and incomes, and at least for now, their future or even a small chance at a piece of the American pie.

With their jobs gone, their home gone, their insurance gone, their security gone and now living in tent city it is amazing that these people haven't erupted Watts style on Wall Street. (Yet)

As heavily armed as we are in this country, if we implode again the consequences will be worse than the civil war. There won't be a Mason-Dixon line to separate the combatants in this war; the war between the haves and have-nots.

Political opinions are as likely to split down the middle of the dining room table as well as they will across streets and neighborhoods, towns, cities and states.

We will go fractal. Those who defrauded this country had better figure out how to get that money back into society. Otherwise society will be crippled for a long long time.

VoilĂ ! Along comes a plan for the government to be financed by Wall Street. Talk about a world-class Ponzi scheme. The federal reserve charges a margin to print the money it lends to the Federal Reserve...

The federal reserve charges a percentage to lend the money to Wall Street bankers...

The Wall Street bankers charge a percentage to lend the money back to the government...

The very same government who owns the printing presses which started the process in the first place...

People, we have to smarten up or everything we just did to prop up the banksters will just cost us more money. This latest proposed loop de loop just inflates the currency more than our borrowing is already inflating it. Inflation is, at it’s core, just another tax on the poor.

The problem with financial pigs is that their eyes aren't bigger than their stomachs.

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