Title: Mcgowanjm Wire 2012 Source:
[None] URL Source:[None] Published:Feb 26, 2012 Author:Various Post Date:2012-02-26 09:15:13 by A K A Stone Keywords:None Views:1371826 Comments:2390
Also down by 4% to a mere $4.6bn were JP Morgans profits. While wondering how on earth they were going to manage on that going forward, my eye fell across a piece in the Journal telling how five US equity investment firm owners would be taking home a bonus of $94m each at the end of March. Bruce Willis diverting that asteroid and dying in the process that made him worth $94m for the job. But nobody else is worth $94m for a years work. Nobody. And anyone who thinks so is a sadly damaged human being."
All those fake numbers being put out by Wall Street, the government and CNBC showing magical growth on the Ponzi paper digit (Alice in Wonderland) side of the equation must be juxtaposed against the real world manufacturing economy that has been in decline for 30 years.
This is the 30 year digital/Ponzi-paper inflation crescendo that has finally crested and, like an ocean wave, will curl over and break. This is also the 30 year engineered interest rate decline that has finally reached its nadir, 0%!
Let me try and rationalise that apparently intolerant statement. Had anyone come to me in corporate life and said they needed $94m to stay interested in the business, Id have expressed sympathy for their plight, and fired them. $94m isnt a bonus, its a bonanza leveraged into a bazooka for a bonehead who somehow puts a value on the ownership of meaningless amounts of money. Except, of course, money brings power and thats what these reptiles really want.
What did I say at the top? "Rising demand for easy money causes rising interest rates..." So what does a zero Fed Funds rate say? Zero demand for worthless money? I don't know. You tell me.
Here is what I see: 30 years of digital/financial Ponzi-paper inflation has gradually decreased the efficiency of all capital investment, everywhere! Mal-investment is so ubiquitous now that it cannot even be distinguished! Confidence in the future is at an ALL TIME LOW! And mass-confusion about inflation, deflation, stagflation, etc... is at an ALL TIME HIGH! We have truly built our own Tower of Babel!
"The two reasons Im rarely satirical about neocon economics is (a) its bad form, and lousy sport, to shoot ducks in a barrel; and (b) the effects of such braindead thinking are every bit as destructive as the ramblings of old Beardy Marx. This stuff can be funny up to a point. After that point, its damned irritating especially if youre one of the poor folks. Ronald Reagan remains one of the most revered US Presidents because he cut taxes to create super-wealth which, he said, would trickle down. Well, it didnt: it gushed upwards into f**kwitted $94m bonuses. "