Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Shysters!
MoneyWeek ^ | Jan 03, 2013 | Bill Bonner

Posted on 01/03/2013 10:47:17 AM PST by haffast

Dow up more than 300 points yesterday. Why? Because the ‘fiscal cliff’ has been averted. That’s what the papers say. But it just goes to show why it’s a mistake to read the news, except for a cynical guffaw.

The real reason markets went up was because investors were reassured: Washington works in the same corrupt, self-serving and zombie-coddling way it always has. The politicians raised taxes, and put off worrying about spending cuts until sometime in the future. In other words, investors realised that they could trust the empty suits not to do anything different!

How much of the world’s troubles are caused by guys with hammers or wrenches in their hands? How many bakers cause depressions? How many masons are mass-murderers? How many steelworkers, cabinet makers or delivery men cause mass starvation?

No, dear reader, the common working man may be a bumbler and a fool, but he is rarely responsible for anyone’s troubles but his own.

The guy who causes real trouble is the fellow in a suit. Last week, we had a meeting with lawyers. Nice guys. Smart guys. Guys in suits. They were not so much causing trouble as reacting to it. Trouble caused by other guys in suits.

snip

The law steers the federal government towards a series of cliffs – one on 1 March, when spending cuts are supposed to kick in, another ‘sequester’ on 27 March, and a 30 March limit on spending authority. Each one will require intense lobbying, brinksmanship, and dealmaking. Each one will end up by taking more resources from productive people and giving it to the zombies. And so it goes on. And now the feds can keep borrowing, spending and printing, until they all go to Hell.

snip

(Excerpt) Read more at moneyweek.com ...


TOPICS: Culture/Society; Government; News/Current Events; Politics/Elections
KEYWORDS: fiscal; lawyers; taxes; zombies
I read somewhere that the Communists took over Russia by having the government take over the corporations. In the US, the corporations and bankers have taken over the government.

The dollar calls the tune. Do we hang the lawyers or the bankers first?

(Actually, we're to blame. We love our sins too much.)

1 posted on 01/03/2013 10:47:24 AM PST by haffast
[ Post Reply | Private Reply | View Replies]

To: haffast

Phony Dollar, Phony Market.


2 posted on 01/03/2013 10:50:19 AM PST by bmwcyle (We have gone over the cliff and we are about to hit the bottom)
[ Post Reply | Private Reply | To 1 | View Replies]

To: haffast
"Dow up more than 300 points yesterday. Why?"

Simple: More debt = Devalued Currency = Asset value compensation.

Throw in a little insider trading => Instant bull market.
3 posted on 01/03/2013 10:56:10 AM PST by indthkr
[ Post Reply | Private Reply | To 1 | View Replies]

To: haffast

“Folks, can you find it in your hearts to send $10, $50 or even $100 to the SEND A LAWYER TO PLUMBING SCHOOL FOUNDATION? Help these good American kids and save them from a life of avarice and bickering.”


4 posted on 01/03/2013 11:05:04 AM PST by blueunicorn6 ("A crack shot and a good dancer")
[ Post Reply | Private Reply | To 1 | View Replies]

To: haffast

The Bankers control everything. The Feds loan or guaranteed the Banks 7.7 Trillion dollars. Half the value of ALL goods and services produced in economy. December 5, 2008 was the day it started.

Bank Bailout or martial law

https://www.youtube.com/watch?v=RGN1xJv6Mcc

https://www.youtube.com/watch?v=Iupyv1f2pSc


5 posted on 01/03/2013 11:16:38 AM PST by Orange1998 (DO NOT PRESS CTRL W)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bmwcyle
Phony Dollar, Phony Market.

Phony President

6 posted on 01/03/2013 11:24:32 AM PST by varon (If it is to be, then let it start now while my aim is still true!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: bmwcyle

Weaker dollar measuring the same market would drive the numeric value up


7 posted on 01/03/2013 11:27:01 AM PST by KSCITYBOY
[ Post Reply | Private Reply | To 2 | View Replies]

To: haffast
Dianne Sawyer was absolutely orgasmic that Obama’s personal intervention saved the day and Wall Street was rewarding his efforts.

(Biden can go back to cleaning toilets, I guess.)

8 posted on 01/03/2013 11:31:52 AM PST by TexasCajun
[ Post Reply | Private Reply | To 1 | View Replies]

To: haffast

A couple things to keep in mind.
- The equity markets historically go up at least 1% on the first trading day of a new year.
- Wall Street is full of traders these days, not investors. They plan to be long gone before the bullet hits the bone.


9 posted on 01/03/2013 1:23:06 PM PST by Old North State
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson