yo! innit...
These days...
here in palookaville...
nobody reads the msm...
not the papers..
not their blogs..
not their tweets..
not their tv news..
here in palookaville we don't vote anymore...
I WONDER WHY THIS IS
maybe it's because we do not believe in them anymore...
we don't believe a word they say
perhaps it's because of the war..
or the wars..
the refugees..
the low wages..
the health care disaster..
maybe the fixing of interest rates..
propping up asset values..
bailing out the banks..
taxing only the little people...
maybe it's because of the power of the multinationals..
the now huge number of international companies..
too big to pay taxes..
IT'S ALL TOO BIG TO FIX
they say they are all too big to fail..
but really it's all too big to fix..
oh! they've fixed all of the above alright..
but we cannot undo all of the things they have fixed for themselves...
because they own the politics...
the media..
the internet...
they own the machine
HERE IN THE WILDERNESS
so here we sit...
like burks inna wilderness...
-------------
I do read mish though...
"Look at the result: Too big to fail is even bigger, toggle bonds and
corporate borrowing are running rampant, no imbalances were fixed, QE is
insane by any rational measure, and the Fed did nothing to rein in
moral hazard risk taking.
The entire world would be much better off had not only Lehman gone under, but the entire banking system gone under.
Instead, bank are bigger than ever, corporate leverage is higher than
ever, debt levels are higher than ever, and the global economy is setup
for an even bigger collapse."
https://mishtalk.com/2016/10/22/another-lehman-blunder-coming-up/
And this...from naked capitalism (Nomi Prins)
"In this election, Hillary has crafted her talking points regarding
the causes of the last financial crisis as weapons against Trump, but
they hardly begin to tell the real story of what happened to the
American economy. The meltdown of 2007-2008 was not mainly due to “tax
policies that slashed taxes on the wealthy” or a “failure to invest in
the middle class,” two subjects she has repeatedly highlighted to slam
the Republicans and their candidate.
It was a byproduct of the
destruction of the regulations that opened the way for a too-big-to-fail
framework to thrive. Under the presidency of Bill Clinton,
Glass-Steagall, the Depression-era act that once separated people’s bank
deposits and loans from any kind of risky bets or other similar actions
in which banks might engage, was repealed under the Financial Modernization Act of 1999. In addition, the Commodity Futures Modernization Act was passed, which allowed Wall Street to concoct devastating unregulated side bets on what became the subprime crisis.
Given that the people involved with those choices are still around
and some are still advising (or in the case of one former president
living with) Hillary Clinton, it’s reasonable to imagine that, in
January 2017, she’ll launch the third term of Bill Clinton when it comes
to financial policy, banks, and the economy. Only now, the stakes are
even higher, the banks larger, and their impunity still remarkably
unchallenged."
http://www.nakedcapitalism.com/2016/10/nomi-prins-hillary-clinton-will-continue-the-big-bank-protection-racket.html
