December 2 2011: The Debt Walkers Strike Back

[Donnachaidh]

http://theautomaticearth.blogspot.com/2011/12/december-2-2011-debt-walkers-strike.html

Ilargi: It's very simple, but maybe that's the problem. For all I know it's just too simple for people to see.

There's a group of people, and it's tempting to call them the 1%, but they’re not really, since there’s politicians in there too who have no shot at even aspiring to be part of the 1%, and media pundits and economists and what have you, who all together try to save the existing financial system at all cost. A cost that they don't bear: that cost is being paid for by the 99%.

:snip:

Now, take a step back and tell me what you see. I'll tell you what I see: a financial system that is in worse shape than ever before during those 5 years. At least half of Europe is flat broke, most banks have lost 50%-80% of their market value, Bank of America, a major bailout recipient, is fast on its way to becoming a penny stock, China sees shrinkage wherever it looks and Japan is rumored to be awkwardly close to the chopping block.

:snip:

We have a choice to make: either we save the banks, or we save our societies. Which are falling apart as we speak on account of the costs of saving an already deeply bankrupt financial system.

But we're not even starting to discuss that choice. All choices and decisions are being made -for us- in a one-dimensional vacuum theater by a small group of people who, to a (wo)man, flatly deny that such a choice needs to be made or even exists. Because making that choice doesn't fit their purposes and careers and fortunes and ego's.

More at the link --

[JDPriestly]

1. K&R