“If we have a recovery at all, it isn’t sustainable,” Kevin Harrington, managing director at Clarium, said in an interview at the firm’s New York offices. “This is more likely a ski-jump recession, with short-term stimulus creating a bump that will ultimately lead to a more precipitous decline later.”

Of course Kevin is correct, but Goldman Sachs isn’t any more “wrong” to declare the start of an economic recovery than Ben Bernanke, they are simply “in on the spin”. The behaviorists truly do believe that perception dictates economic reality for America’s speculation bubble eCONomy. As long as CONfidence can be maintained, there will always be eCONomic opportunities — and after all, that’s all we got Kev’. We have no real production economy, no real internationally competitive manufacturing base for raw materials like concrete and steel, no powerhouse auto manfacturing, no high speed rail or world class nuclear fission, or cold fusion development, no space program, and the vast majority of non-perishable goods we consume we import from other nations.

All nations, especially America, are being groomed to be totally reliant on other nations for their very subsistance in this fantasy Global Communion of integration, good will and cohesion–which is all curiously controlled, top-down by the international financiers and their inflow-outflow system of currency and debt exchange, monetized revenue streams, monetized debt and interest rate variables — all of which have been securitized, rated, sold, leveraged, resold, hedged, shorted, longed, derivated, repackaged and recycled, with each new permutation claiming to add value to each instrument, upon which to collect fees and extract fictional profit. Thus having pumped the derivatives bubble to last summer’s final bursting point, it has been in a state of accelerated collapse ever since.

Wealth now, as defined by this curious state of denial, is the product of financial market leveraging, betting and stakes-claiming ,which long ago sapped the intrinsic value out of the assets upon which the bets were nominally placed. We derive wealth out of thin air, just as the FED derives currency out of thin air, and thus the real value of it translates to electronic entries of profit claims which do not exist and paper claims to gains which do not occur, other than by accounting chicanery, papered over in the public bailout shell game.

The American financial system, which is a huge part of the global (currently) dollar-denominated financial system could be the world’s biggest CASINO–but what does a Casino really offer? A few people get lucky, and a few get rich being in on a rigged game, but the real money goes to the house.

Meanwhile, the Obama whipping post at FOX news brings on the next REPUBLICAN vs. DEMOCRAT shouting match where neither party has the open mindedness to think critically, but rather just BLAME EACH OTHER for the failings of a government that is really indifferent to either party. It’s Jerry Springer style reporting , patterned after town hall meeting outrage.

As Paul Farrel so rightly points out in his article today, it is the lobbyists who own Washington and voters are the most disenfranchised special interest group to participate in this process. Because we don’t contribute half our earnings to the politicians we want to represent us, it is therefore stolen from us in the form of continuing bailouts, and yet, as invested owners of the American financial system, we are not even permitted to look at the books of the banks we own, or the Fed that supports them with our money, because it might disrupt our CONfidence that the money being stolen from our children might only be fueling another vast CONfidence bubble.

But Paul, you have to think bigger and look past the lobbyists to their clients, because ultimately their clients have all the bailout money, and all the rigged casino money from the various ways they’ve looted outside investors and the public, and these are not Mom and Pop shops. These are GLOBAL corporations, with international interests, and they are well connected into the international cartel of central banks who rig the casino. And at the top of ALL THAT are the old money banking dynasties–generations of wealth hoarders who have ammassed more wealth than medium sized countries, and do you think they got that way by chance? Pure luck? You think they’ll donate all that to the Save the Whale Foundation, or maybe just decide to end global starvation?

Maybe they’ll just fade away watching TOP CHEF or HOUSE, their vaults gradually being depleted to foster their sedentary lifestyle. No ambition here, they just sit on their ass, drink a cold Bud, watch TV all day, and when the money runs out–hey, the money runs out. Now there’s a pleasant fantasy to compliment your other bubbles!

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