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.)

MICHAEL SILVERSTEIN, Wall Street Columnist
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slamfu
Guest
slamfu
3 years 4 months ago

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

KP
Guest
KP
3 years 4 months ago

Love it :)

zusa1
Guest
zusa1
3 years 4 months ago

“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/articles/2013-05-02/are-negative-interest-rates-in-europes-future

slamfu
Guest
slamfu
3 years 4 months ago

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.

Today
Guest
Today
3 years 4 months ago

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

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