One Minute World Economy Wrap-Up

Too busy to follow economic news from around the world? Confused by all the differing views on whether things are getting better or worse? Brain wary trying to make sense of market analyst jabber and government spin doctor twaddle?

Anguish no more. The truth about the world and U.S. economies, the job market in this country, the institutions that control all our economic futures, and how the growing number of poor folks here and abroad are faring, was neatly summed up in just four headlines that appeared on today’s Bloomberg news website.

Here they are. Read ‘em and weep:

“Central Banks Keep Easing After Cuts Fail To Spur Growth”

“Temporary Workers Near U.S. Record Makes Kelly A Winner” [Kelly Services is a major supplier to temporary help]

“No Lehman Moments As Biggest Banks Deemed Too Big To Fail”

“U.S. Budgets Throw Poor Grandmas, Kids Off The Train”

Got it now? The people supposedly in control aren’t. They are panicking and in desperation are trying bizarre measures that aren’t working. The only effects of these actions by the best and brightest at the helm is to further enrich the very rich and screw everyone else.

Back to sleep now. A new round of campaign commercials on TV will soon come along that will convince you that in spite of the reality you’re seeing and living, things are really getting better. And if you can’t wait for them to appear, check out the daily dole of financial “news” assuring you the same thing spewed by corporate-controlled media.

As the immortal George Carlin noted, “The reason they call it the American dream is because you have to be asleep to believe it.”

(My new novel, Murder At Bernstein’s, about a financial news billionaire who wants to be elected Mayor of Philadelphia, is now available from Amazon.)

  

6 Comments

  1. Dear Govt leadership,

    It has become clear you have no idea what you are doing. This has some of us concerned. But it turns out that’s ok, because it appears we as a nation have been here before. What we need you to do is immediately stop implementing any plans that originate in your own heads. Instead of using your own intuition and ideas, which are really bad, please go to the Library of Congress, and review EVERYTHING that FDR did starting in 1932. There was once a time when most of the economy was tied up at the top end by the rich. Corporations were running rampant. The working man didn’t have access to credit to start new endeavors, and also didn’t have enough money to keep the economy going. FDR and his fellow elected official dealt with it. So, you know, do what they he and they did. Stop trying to re-invent the wheel. All you are doing is delaying the inevitable.

    Sincerely,

    Us

  2. Dear Us,

    Thank you for getting in touch. We take the views of people like you, little people who don’t know squat compared to ourselves, very seriously nonetheless. To get you thinking along the proper lines, we will be sending you 27 position papers prepared by ourselves that prove beyond doubt that we are not only incredibly smart, but in total control of the economy. And, we might add, doing what’s best for you spite of the fact that you don’t have the decency to appreciate it.

    We will also be including you in our next campaign financing push. Most of this much needed and greatly deserved money will come from your economic betters. But you can give, too. This is America, after all.

    Stay in touch. Even if we pay no attention to what you say, we will always be here to send along this pre-packaged response.

    Sincerely,
    Your Government Leadership

  3. Love it :)

  4. “Interest rates in Europe might go negative. That’s a sign of how weak the European economy is. Today in Bratislava, the capital of Slovakia, European Central Bank President Mario Draghi told reporters that the ECB might actually charge banks for the privilege of stashing cash with it overnight.

    In other words, the demand for cash is so weak that Mario Draghi might not even take it from the banks when it’s free. The ECB doesn’t want more cash because it can’t lend it out profitably. Cash, to the ECB, is becoming more like, say, cars, whose drivers have to pay to park them overnight.”

    http://www.businessweek.com/ar.....pes-future

  5. Lol, nice Michael.

    And Zusai, negative interest rates? I’ve never heard of that. Sorta seems like one of those signposts that heralds the start of a global meltdown.

  6. Thank you. Sometimes the truth is so sad, that it becomes funny.

Submit a Comment