October 14, 2009
The Bloodsuckers Ball
From Jay Bookman, who, unlike me, seems to have a paid subscription to Rupert Murdoch’s online Wall Street Journal. The question raised by the stolen excerpt below is whether there is any outrage at all, any slap in the face so contemptuous, any display of greed in a time of widespread suffering, joblessness, bankruptcy and homelessness so shameless that we will finally wake up?
It’s no good blaming Congress. Both House and Senate would vote to vivisect kittens on prime time if enough members were afraid that going soft on Fluffy would cost them their seats. The trouble goes beyond that.
In Michael Moore’s movie Sicko, an American ex-pat in Paris reflects that in France the government is afraid of the people, while in America the people are afraid of the government. And there you have it. And here’s the latest atrocity that will not send Americans to the barricades:
“Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year — a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street’s pay culture.
Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did the peak year of 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year-end by The Wall Street Journal.”
Total compensation and benefits at the publicly traded firms analyzed by the Journal are on track to increase 20% from last year’s $117 billion — and to top 2007’s $130 billion payout. This year, employees at the companies will earn an estimated $143,400 on average, up almost $2,000 from 2007 levels.”
Posted by Jerome Doolittle at October 14, 2009 03:07 PM
Now is the MSM propaganda machine for the oligarchy covering this?
I don't think so.
When it breaks, it going to be very interesting. Sorta like when Argentina collapsed and lower class people were dying in the streets from starvation.
In an america that does not fund healthcare for all, but trillions for the merchants of death. Yeah, I can see starvation coming soon. The oligarchy and the new plutocrats can hire enough trained mercenaries from the Afghan and Iraq wars to protect themselves and acquire food.
Always know where you can get food. There is less than a three week supply in the pipeline. That breaks, goodby sanity.
If you live in an area infested with Mormons, they are a good resource. They have a place to store documents, I think it is called a "stake." It lists all of the Mormons and their addresses. Their people are supposed to keep a six month supply of food on hand. Not saying anything, but these people got food. Also, all military posts have huge food storage facilities so they will always have food. May be old, I ate second world war rations in 1970 in the Nam, but it didn't hurt me that I know.
Even in the depression there was food available. The problem was paying for it. Capitalism is very good at keeping order so the scenario proposed by Less Isbetter seems to be of a somewhat paranoid style, although in the long term.......who knows.
But just this morning Goldman Sachs announced record profits. And of course, we "bailed them out" with Hank Paulson's blessings and influence that probably was responsible for putting a few of Goldman's competitors out of business. And the bloodsuckers are exerting strong influence on the White House as I write. Hope is just a four letter word ... and pessimism is often ultimately reality.
If this goes much further though, I suspect that at some point the tide will break, and we'll see a good bit of blowback internally.
My own analysis of the situation is that Western based capitalist corporations have seen a huge market that is gigantic in comparison to the American one; the Chinese market and they want to get in on the action. And the only way to supply that market is to spread the goods around so with the market being expanded slowly to 5 or 6 times its original size, the earth can only supply so much so we Americans will be left holding the short straws. Not that we don't deserve it. We lived off the rest of the world for decades, kept voting for war mongering fools who foolishly wasted resources that could have been used for infrastructure and a decent living standard for all Americans and we kept voting for the bastards. Somaybe its just our turn. \
And a good many of our citizens have taken the stance that my 84 year old friend in South Carolina used to say before he died: I'm too old to fight, too weak to run,but I'm standing my ground. Judging from the current arms and bullet sales figures in this country, seems that a good many others have taken that same position. Personally I think that if things get out of hand, that crowd will be the first to go down. Not without a fight of course, but what the heck do I know. I'm guessing about what the future holds, just like everyone else. But I don't see many rosy scenarios unless we can bring back manufacturing to our shores - which might be on its way. But we shouldn't expect much in the way of consumer goods. The golden years may be gone forever. There's just not enough to go around and this nation as one of the ones in the worst group of nations is probably one of the least deserving nations.
Or Naomi Klein was right and we're just getting the thoroughly discredited Friedman treatment.
That illustration could have taken place this morning at the Goldman Sachs main office, and you'd never know about it, unless some blogger caught wind of it.