Whenever The Government does something, there is always a reason behind it.
The Huff Post/AOL revealed today the reasons behind this current government shutdown.
1) No Debt Limit Deal Reached At White House Meeting
2) Stocks Soar as Washington Hints at a Debt Ceiling Deal
The Goal “to increase the nation’s borrowing limit” to fully fund wall street with a “No Debt Limit Deal” (Unlimited Funding). This is why “Stocks Soared”.
Just like with the “Fiscal Cliff” and the “Sequester” ‘Events’, it’s all about a BS reason to give to Americans so they can take even more money from them. Legalized Theft, by those who control the Government.
They all work together with the Republicans playing the Bad Guy.
Bottom line, Wall Street is happy. That’s bad news for Americans.
Here is an article that explains why:
ADMIN NOTE: This was a hot topic at one time.
But today, I can only find 1 Article/Post on Goggle on this subject.
There are only 4 or 5 to start with.
1 has been taken down and replaced with a Wall Street Ad 🙂
The other 3 are actually Pro Wall Street.
Seems like anything on Goggle that suggests “what’s good for wall street is bad for Americans” is not really allowed.
Goggle is simply “Off The Hook” when it comes to censorship of relevant information.
Couldn’t locate any YouTube Videos on the subject also.
Wall Street is Protected!
What’s good for Wall Street is bad for America
To watch the Dow jockies on the teevee leaves one with the impression that Americans collectively win something when the industrial average rises above 10,000. But Americans don’t win anything. Most of them don’t even really understand what the 10,000 mark means, but they have learned to equate Wall Street winning with a booming American economy.
Do you earn a bonus when the Dow breaks 10,000? Does your job become more secure? Do your credit cards and medical bills disappear? Do your kids get college scholarships? Does the air you breathe become cleaner?
No, of course not. Americans don’t win anything when Wall Street prospers, and in fact, the opposite is usually true: what’s good for Wall Street is bad for America.
Pam Martens explains this “tails they win; heads you lose” philosophy:
Wall Street can and does make enormous profits on bets that share prices will decline (shorting), that companies will disappear (credit default swaps), that the economy will crater (interest rate swaps). And there’s a slogan on Wall Street: the trend is your friend. When it’s clear the bull is lying in the center of the ring (think Lehman’s death and the Merrill Lynch shotgun wedding on September 15, 2008), Wall Street moves its bets to the downside.
The market and its players have no conscience. There is no soul on Wall Street. The almighty dollar dictates everything, and so the boards of cash machines known commonly as “corporations” are legally obligated to their shareholders to make as much money as possible even if doing so demands engaging in things like shady lending practices that ultimately tank the entire US economy.
There is no government-provided incentive for Wall Street to behave morally. If the right players make tons of cash when they win, and shift the financial burden to taxpayers when they lose, why would they ever change their behavior? Wall Street makes crap, sells it to the public, and then when citizens get sicks, they’re responsible for their own medical bills.
Think: cigarettes, or as the FDA calls them, “nicotine delivery systems.” In 1995, Martens reminds us, the FDA told Americans that Big Tobacco was manipulating “nicotine delivery at each stage of production.” People were hooked on something that was killing them.
Insiders on Wall Street call their retail brokerage firms, now also dangerously merged with commercial banks, a “distribution” system. The investment banks create the toxic product, the brokers distribute it to the public under an enshrined carrot and stick system that is virtually identical at every major firm. That is, the internal research department puts out a buy recommendation. The brokers’ local manager holds a sales meeting and pushes the firm’s latest offerings. The brokers’ commission system dramatically favors risky products that the firm is pumping out over safer investments.
The reason the government must now create huge job programs is because the private sector has failed to provide for the masses. “According to the Labor Department, 9.3 million Americans could not find work as of January and millions more are involuntarily working part-time or too discouraged to look for work,” writes Martens.
So Wall Street corporations earn billions in profits racing to the bottom by slashing benefits and outsourcing American jobs overseas, while sheltering revenue in tax havens. Then, in the midst of failing to provide jobs to Americans, they ask for trillions more in taxpayer cash.
The suits provide nothing and ask for everything in return. Massive cojones, fellas.
Just in case anyone was worried President Obama may do the right thing and reinstate a Glass-Steagall wall between commercial and investment banks, fear not. Obama’s proposed bank curbs are “not a return to Glass-Steagall,” says the U.S. Treasury’s No. 2 official, Neal Wolin, who was also formerly general counsel to Lawrence Summers, a key proponent of repealing the Glass-Steagall Act during the Clinton administration.
No one has any intention of doing anything that will work. And you can quote them on that.
– Allison Kilkenny
SOURCE: [ True Slant.com ]