Friday, August 05, 2011

In Every Mirror, A Sucker

A great title to criticize cosmetics firms. But my target is finance.

Listen to the stupid pronouncements of market analysts & financial pundits -- we're easily suckered. "The market is responding to" is often simple hot air. The next day, or 20 minutes later, the same idiot belches another plausible scenario.

Feel like a puppet being jerked about? You should. Are you a step behind? Yes.

Talk of fears, correction, and jubilant investors serves to squeeze hefty commissions (or more) from common punters who move their funds. Often the "experts" are parasites, positioned to reap windfall profits from the gullible acting on their advice.

Two weeks ago we were told loans to Greece were in crisis, and that private lenders should be paid with European public funds. Germany forced the private banks to shoulder part of their own problem. But the public now subsidizes much of each repayment.

Now suddenly we're told Italy is in crisis. Other nations, recognizing it's "drink now or go thirsty" -- edge nearer to the money pot. Is it Big Capital playing us as dupes? Financial professionals care for us only if we bring them money, pushing for lax oversight & self-regulation without threat of penalty. All we are is dust in the wind...

Don't forget Kenny Lay & Co, the Bush & Cheney corporate friend...