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Stock market climbs are nearly all due to financial dealers and vultures joining each other or buying out each other. Dell computer decides to lay off 8,800 workers because their profits fell slightly. Throw the crew overboard! And Credit Suisse details the ugly numbers for the ongoing housing crisis. Ouch.
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Yesterday, US stocks hit new 'records'. Of course, this doesn't take into account the harsh reality of inflation. In inflationary terms, the stock market here has been pretty flat. Actually, it would have to rise another 10% or more to equal values from seven years ago. Meanwhile, US reserves fall even more as Japan, Germany, China and Russia's reserves continue to rise. This is not a sign of a country with healthy fiinancial statistics! Time to look at the mis-named Federal Reserve!
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Wall Street sacrifices America's future in order to get big gains. The entire government here is focused on maximizing the gains of the financier class. China today just threw a huge spanner into its own stock market and this is now causing a huge wave of flipping and flipping out all over the planet since China is the driving force in the world's economic systems. I predicted the communists would clip the wings of their own capitalists because they don't want them to be too rich or too powerful. Meanwhile, the wealthy in America own our politicians so our own situation gets worse and worse.
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Warmongering Washington Post snarls and snaps at China for not being warmongering enough about Darfur. Meanwhile, millions of refugees pour out of Iraq, lots more soldiers die there and the UN isn't holding war trials to punish the neo cons in the US/UK Axis. Russia sucessfully tests a MIRV missile and Putin talks about Europe frying if they continue to let the US warmongers put missiles on Russia's borders.
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I sound like a broken record but the economic trends are all running in exactly the wrong direction if we wish to be a great, nay, a semi-poor nation rather than a total wasteland. Few articles bother to trace the flow of money, they simply go, 'Oh, gosh, look at the trillion dollars being handed over to hedge funds to leverage onto the backs of everyone around us!' Well, this funny money matters a lot. Zoellick, a neo-con Zionist is selected, the second one running now, to run the World Bank. And Japan, hitched to the dying dollar and dying American economy, is contracting again.
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The global status quo pleases many, many people. But it is all based on a very insecure and dangerous foundation: reckless and unsustainable spending by Americans. Increasingly, Wall Street is all about international corporations that increase our trade deficit, not American industry. International interests are forcing all countries to bid against each other and reduce taxes and obligations so eventually all nations will be the poorer for all this 'business'.
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Right after the US flotilla of sitting ducks floated grandly past Iran Kitty Cat, Bush sent first the incompetent lover, Condi who flubbed everything in Egypt and then he sent regular diplomats who are now trying desperately to imitate Henry Kissinger. For we are basically surrendering to Iran if they only can stop the wild violence in Iraq and tame that Sadr rat. Unfortunately, no one is going to stop al Qaeda. Also, China and Russia swear eternal love. Kisses between the Dragon and the Bear.
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The Japanese game of weakening the currency of the world's #2 economy and #1 trade surplus is now beginning to backfire thanks to the ever-more powerful euro and the fact that China, by raising the value of the yuan versus the dollar, had made the yuan a popular currency with all countries bordering China and is spreading the yuan further and further while the yen hides in a dark hole and dies slowly. The suicide of the Liberal Party official involves him cheating Chinese peasants. Heh. And Japanese businesses needing to sell to Japanese are struggling to stay alive in a depression economy.
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The focus on only Chinese trade has obscured the real dangers to our 'first world' status. Looking at this year's trade figures shows clearly that China's trade surplus is the low-value added clothing exports while Japan sits on top of the world with high-value added exports such as cars. This is why Japan has the world's biggest trade surplus and Germany, who does likewise, is #2. Understanding the underpinnings of international finance and trade is difficult if things are being maliciously obscured by powerful individuals running our banking and government systems.
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Time to visit another official government study! I learn so much from these things. In this case, the document is the official Annual Energy Outlook by the President's Energy Information Administration. This study alternates between total fantasy and admissions of hard facts. But the conclusion is completely insane as are all the studies generated by officials working for Bush. Meanwhile, the US public pays no attention to reality and clings to the 'cheap and easy' energy assumptions of the Clinton era.
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