Waiting for the Wall Street implosion that didn't materialize, I watched the financial news. What emerged was a discussion of the two economies.
Bloomberg: Ben S. Bernanke's interest-rate cuts have touched off a vicious circle of doom for the dollar
Guess what? Now there are two economies, one for the investors, super elites and the real one for the rest of us. We should not pay attention to the paper economy according to financial advisers, it's just the place where the super elites create investment vehicles, derivatives, hedge funds, bonds...and all of that stuff which is simply the trading of paper. Nope, the real economy is just fine. The trouble is this paper economy.
I'd say so. Corporations get $200B. Americans, of which over 2 million homeowners are facing foreclosure, get...$600 dollars.
Corporations trading bad debt to the point of insolvency and guaranteed bankruptcy get bought out with Fed intervention....Americans get their jobs offshore outsourced and bankruptcy bills that don't allow them to get out of their debt despite being dirt poor.
Even worse, it seems there is an entire economy just for the super rich that consists of new investment vehicles which when discovered to be pure fiction, get a bail out.
(sssh! you're not supposed to call it all a bail out!)
Finally, don't forget for the small investor, those financial journalists must be prudent, after all they cannot accurately report on this other economy because after all, that might cause a run on the banks....
I've put an excerpt from this on my blog. This is exactly what Edwards kept trying to tell us, so of course the media had to marginalize him....
BTW, that capcha is VERY difficult to figure out and confusing - probably will discourage many commenters. Took me three tries.
Do you have a link?
Also, once you register on this blog, then the CAPTCHA goes away and all of the features are enabled.
Many community blogs don't allow anonymous (not logged in) comments at all because it's a major security issue, so this is my compromise.
Believe me spam bots are notorious and why the CAPTCHA is so tough. They have broken most.
As far as the economy, watching today's rally I was thinking, this is so out of reality from all of the real numbers, so there does appear to be this separate Wizard of Oz economy and us mere mortals are not allowed behind the curtain. I highly recommend Winter Watch blog who writes about this daily.
Still site problems
This is day 4 and I'm not happy. We may have to change webhosts because 4 days of a site down is just unacceptable.
Well, now the server has been restored so hopefully things are now stable.
You might cross link your posts because I hate to tell you this but the site crash did affect the number of people reading your posts.
I'm reactivating the RSS feeds to make sure your stuff is out there on the Internets, trying to get the readers back right now.
Admin - Site Issues - Please Read - May 2
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