The Distant Sound of Thunder

[unhappycamper]

http://www.opednews.com/articles/The-Distant-Sound-of-Thund-by-David-Glenn-Cox-Growth_Money_Money_Recovery-140214-618.html



The Distant Sound of Thunder
By David Glenn Cox
OpEdNews Op Eds 2/14/2014 at 09:48:46

~snip~

They've called this a jobless recovery, but it's not so, it's a jobs somewhere else recovery. The Fed's been adding $85 billion per month and while most of this cash missed the US economy, it found a home in the emerging economies. The money was let out to fuel growth, which in turn fueled growth in a redux of 2008, the day the music died. Goldman Sachs, JP Morgan Chase have called for calm after currency losses in Turkey and Argentina. When bankers call for calm, I get nervous. Over the past two weeks, more than $3 trillion dollars has been erased from world stock exchanges.

~snip~

The Fed money poured into the money sieve pours out the biggest holes for the largest returns to generate bonuses, half a world away. Paper profits which have witnessed 160% rise on the S&P 500 since 2009 with a corresponding zero percent rise on Main Street. In the worst economic down turn since the last Great Depression, Wall Street has simply moved on to the next bubble, repeating the same mistakes, feigning the same excuses because that way, you make a lot of money. To steal a phrase, it is economic fracking. Pumping money into low-wage economies, then racking off the top as the profits bubble up. It was the mid 1990's when I moved to Atlanta, the town was booming and the Olympics were coming. Business was expanding; jobs were plentiful with new homes being built everywhere. It was a builder's economy, where growth is dependent and fueled on more growth. If these remorseless hammers ever pause, the economy stumbles. But with corporate America's love of outsourcing has come, the biggest builder's economy of them all.

Call them rising economies, new economies, big money flowing in places where it didn't used to flow. In China, growth has been 10% per year for over ten years. It is a wedge expanding exponentially and quite impossibly. Immersed in such sudden prosperity, a gold fever takes over. The stories have circulated for years about Chinese borrowers, using the same collateral on different properties at separate banks, spurred on by bonus dependant bankers.

They've called this a jobless recovery, but it's not so, it's a jobs somewhere else recovery. The Fed's been adding $85 billion per month and while most of this cash missed the US economy, it found a home in the emerging economies. The money was let out to fuel growth, which in turn fueled growth in a redux of 2008, the day the music died. Goldman Sachs, JP Morgan Chase have called for calm after currency losses in Turkey and Argentina. When bankers call for calm, I get nervous. Over the past two weeks, more than $3 trillion dollars has been erased from world stock exchanges.

[Berlum]

1. k & r

[cantbeserious]

2. Kick And Recommend

eom

[bvar22]

3. They (The 1% and their Mouth Pieces in Washington) have this Jobless Recovery SCAM down pat.

However, they aren't relaxing.
This Jobless Recovery is New & Improved!!!
They have added a new piece to the SCAM.
They call it "The Sequester".

It is not enough to simply divert new money directly into the pockets of the 1%.
They still LUST after the money that goes to the Middle Class & Poor via the Safety Nets and other programs.
The problem they have is that MILLIONS of American Voters depend on these programs,
and will get angry if their representative vote to cut them.
They needed a way to cut these programs, but to do so without actually publicly voting to cut them.

They needed Plausible Deniability for cutting these programs, so they came up with the most beautifully crafted piece of Political Scamsmanship I've ever seen. They called it "The Sequester",
and it is working beautifully!

NOW, thanks to The Sequester, no politician from either Political Party has to face the voters back home and admit that he/she voted to CUT the Social Programs the majority of his/her constituents depend upon.
[font size=3]"I didn't cut those programs!
The SEQUESTER cut those programs!" [/font]
(The beauty of this scam kinda takes your breath away).

There is that plausible Deniability they needed.
Nobody claims they WANTED The Sequester.
America certainly didn't want it,
but HERE it IS!
and Both Parties get to blame the other.
Now that is an awesome piece of Scamsmanship!!!