Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
SPX/Gold, Long-term Yields & Yield Curve 3 Amigos Update - 22nd Jun 18
Gold - How Long Can This Last? - 22nd Jun 18
Dow Has Fallen 8 days in a Row. Medium-long Term Bullish for Stocks - 22nd Jun 18
Trouble Spotting Market Trends? This Can Help - 22nd Jun 18
Financial Markets Analysis and Trend Forecasts 2018 - A Message from Nadeem Walayat - 21st Jun 18
SPX Bouncing Above Support - 21st Jun 18
Things You Need To Know If You Want To Invest In Bitcoin Now - 21st Jun 18
The NASDAQ’s Outperformance vs. the Dow is Very Bullish - 21st Jun 18
Warning All Investors: Global Stock Market Are Shifting Away From US Price Correlation - 20th Jun 18
Gold GLD ETF Update… Breakdown ? - 20th Jun 18
Short-term Turnaround in Bitcoin Might Not Be What You Think - 19th Jun 18
Stock Market’s Short Term Downside Will be Limited - 19th Jun 18
Natural Gas Setup for 32% Move in UGAZ Fund - 19th Jun 18
Magnus Collective To Empower Automation And Artificial Intelligence - 19th Jun 18
Trump A Bull in a China Shop - 19th Jun 18
Minor Car Accident! What Happens After You Report Your Accident to Your Insurer - 19th Jun 18
US Majors Flush Out A Major Pivot Low and What’s Next - 18th Jun 18
Cocoa Commodities Trading Analysis - 18th Jun 18
Stock Market Consolidating in an Uptrend - 18th Jun 18
Russell Has Gone Up 7 Weeks in a Row. EXTREMELY Bullish for Stocks - 18th Jun 18
What Happens Next to Stocks when Tech Massively Outperforms Utilities and Consumer Staples - 18th Jun 18
The Trillion Dollar Market You’ve Never Heard Of - 18th Jun 18
The Corruption of Capitalism - 17th Jun 18
North Korea, Trade Wars, Precious Metals and Bitcoin - 17th Jun 18
Climate Change and Fish Stocks – Burning Oxygen! - 17th Jun 18
A $1,180 Ticket to NEW Trading Opportunities, FREE! - 16th Jun 18
Gold Bullish on Fed Interest Rate Hike - 16th Jun 18
Respite for Bitcoin Traders Might Be Deceptive - 16th Jun 18
The Euro Crashed Yesterday. Bearish for Euro and Bullish for USD - 15th Jun 18
Inflation Trade, in Progress Since Gold Kicked it Off - 15th Jun 18
Can Saudi Arabia Prevent The Next Oil Shock? - 15th Jun 18
The Biggest Online Gambling Companies - 15th Jun 18
Powell's Excess Reserve Change and Gold - 15th Jun 18
Is This a Big Sign of a Big Stock Market Turn? - 15th Jun 18
Will Italy Sink the EU and Boost Gold? - 15th Jun 18
Bumper Crash! Land Rover Discovery Sport vs Audi - 15th Jun 18
Stock Market Topping Pattern or Just Pause Before Going Higher? - 14th Jun 18
Is the ECB Ending QE a Good Thing? Markets Think So - 14th Jun 18
Yield Curve Continues to Flatten. A Bullish Sign for the Stock Market - 14th Jun 18
How Online Gambling has Impacted the Economy - 14th Jun 18
Crude Oil Price Targeting $58 ppb Before Finding Support - 14th Jun 18
Stock Market Near Another Top? - 14th Jun 18
Thorpe Park REAL Walking Dead Living Nightmare Zombie Car Park Ride Experience! - 14th Jun 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Welcome to the Soviet States of America 2011

Politics / US Politics Jun 03, 2011 - 02:49 AM GMT

By: Mike_Whitney

Politics

Best Financial Markets Analysis ArticleThis must be what it was like in Russia before the Soviet Union collapsed. The government's so crooked that nothing works right, the infrastructure's in a shambles, millions of people are scraping by on government handouts, and everyone's on a permanent downer. Welcome to the Soviet States of America 2011.


I mean, seriously, things are really looking bad. Apart from killing people, we really don't do anything anymore. We have a humongous, over-bloated military that lumbers from one war to the next spreading misery wherever it goes, and meanwhile, back at home, things continue to go to the dogs. How long can that go on?

You can't get a job anymore, because all the jobs have been shipped off to Guandong Province or someplace South of the border. The best you can hope for is some part-time gig jerking double-tall-mochas or steering folks towards the red-dot special on Aisle 9. So, how can you sustain a middle class on a measly $9.50 per hour? It can't be done.

And just look at Washington. What a joke. The White House is just a protection racket for big business. And Congress, well, what can you say about congress? We'd be better off if they just packed their bags and went home for all the good they do. Then at least we could turn the House of Representatives into a homeless shelter or something that had some practical value for people. At any rate, we wouldn't have to listen to the bloviating of numbskulls like Mitch McConnell and Harry Reid anymore. That's got to be worth something.

You know our goose is cooked, don't you? You know we're not going to get out of this, right? The country is disintegrating. It's obvious. It isn't even America anymore; it's like we're on some kind of movie set where everything looks real, but it's all just props. Everything is perfectly placed to make you feel like you still live in a free country, but you know you don't. You know the government spying on you and going through your mail. You know if you stand in front of the state-house with a peace sign you'll get rousted or pepper-sprayed or something. You know if your name turns up on the wrong list, you'll either get bounced off your plane or dragged off to some far-flung blacksite where they keep you in a 6 ft. box until they want to waterboard for the millionth time. Yeah, everything still looks the same, but it's all changed. Everything's different now.

You watch news, right? It's all propaganda, every bit of it. In fact, they all read from same script. Maybe you went to some toffeenose college so you prefer PBS's Jim Lehrer News Hour, because you're smart and you want more "in depth" coverage. So, you get two brainy experts on each segment. But, there's one little problem, isn't there? Both experts are from corporate-funded think tanks, and both of them have exactly the same views on every single issue. But you think, "Hey, at least public TV airs different opinions." Right.

It's all George Orwell. It's all 1984. You know that. That's why we're all so frustrated. It's bad enough that the country's going to Hell in a handbasket, but it's even worse that they have to lie to you about it 24-7. That just reinforces the feeling that we're all goners; that the whole society is just propped up on one big freaking lie.

Have you looked around lately? Have you noticed the women at the grocery store who keep their head's down at the checkout stand while they load the boxes of mac n' cheese onto the conveyor-belt hoping like Hell that one of their credit cards will be accepted? Have you noticed that there are more kids at school showing up like ragamuffins and piling into the cafeteria for a free lunch. Have you been to a state park lately and seen the people who sleep in their cars at night and then spend $.50 to shower in the public restrooms. Have you taken a look under the freeway overpasses where small encampments are turning into tent cities.

I'm telling you, our goose is cooked.

The other day my bank shut-down after 30 years in business without any sign they were in trouble.
Whoa. You talk about shattered confidence; that'll do it every time. There I was in a long line of nervous-looking 50-somethings chewing on their lower lips and scowling while they made their way through the front door of the bank.

"Er, Mr. Bank Teller, could you tell me; do I have any money left?"

Don't kid yourself, when your bank goes under, it changes your world view. And it changes your feelings about America, too. Forget about security; it doesn't exist anymore. They'll fleece you out of your life's savings without batting an eye. Bankers are all crooks, every last one of them. And we're all just chickens for-the-plucking.

There was an article in USA Today that really sums up how bad things have gotten. The article is titled "Feds chase more student loan defaults". Here's a clip:

"The government increasingly is threatening to sue people who've defaulted on their student loans to get the money back. The number of loan defaults that the Education Department has referred to Justice Department lawyers for possible legal action has risen dramatically since before the recession and nearly doubled from 2009 to last year....

If the government does sue, it can go after wages and bank accounts, put liens on people's property and hold parents responsible for their children's debt if they co-signed the education loans. "The most important thing to remember is we want the loans repaid," says Jane Glickman, Education Department spokeswoman.

Can you see how sick this is? Since when has the Justice Department become a collection agency for private industry? Let the banks hire their own goons for Chrissake. They'd probably like that better that anyway.

And why is the DOJ shaking down our kids when the guys on Wall Street who created this mess are still slurping Bordeaux and figuring out new ways to ripoff Uncle Sugar? The whole thing is backasswards.

Any country that preys on its kids to make a few bucks is on it's last legs.

America has lost its way. Sooner or later we going to wind up in the same dustbin as the Soviet Union.

By Mike Whitney

Email: fergiewhitney@msn.com

Mike is a well respected freelance writer living in Washington state, interested in politics and economics from a libertarian perspective.

© 2011 Copyright Mike Whitney - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis.
Individuals should consult with their personal financial advisors.

Mike Whitney Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules