Busted: Bankers and The Global Economy

June 22, 2008

A Tough Message for Wall Street

Wall Street enters the summer season with investors in a sour mood because they don’t want to face reality, a reality that banking profit-pushers and investors created. For months, every qualified economic expert has pointed to an eventual rise in interest rates by the Federal Reserve. Economic policy makers have been looking at this summer as a prime time for change. Reality was predicted long ago. Wall Street crooks are educated trash that need a real education in economics called reality.

It isn’t that low interest rates have done much good. Mainly, these low interest rates have supported the bankers’ bottom lines instead of being used to save banking customers and consumers any money on their interest. Low interest is just another way that the Federal Reserve has bailed out the nearly-collapsed banking and mortgage industry.

The Fed has signaled that it is unlikely to cut rates further and may boost rates if inflation gets out of hand. Well…inflation is out of hand, but the Fed has their magic hand on the percentages. They will never get entirely out of control thanks to creative central banking.

The common line is that bleak news keeps investors from stepping into the market. What market? We are, after all in a overall slowdown. Investors that are still around are watching their backs and find very little worthwhile investing in that is truly significant. The world of creative banking has the cure for deserving investors. Wise investors are wisely wary.

The tougher and more appropriate message would be that the Fed won’t continue to bail out Wall Street at all. Wall Street has been helped enough. Let them reap what they have sown or better yet, look at the theoretical law that touts “survival of the fittest” in the animal kingdom. The business world isn’t designed to be bailed out. Bad business decisions need to be honored with “come what may”.

“Confidence” will be a temporary problem. We will all survive long-term and the bad business decision makers will be gone and hopefully living in trailer homes on the prairie or the barrios where they belong without continuing to infect the lives of Americans and global economic policy the world over.

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