In what seemed like a surrealistic rerun of the lobotomy scene in Planet of the Apes, the current and last two US Secretaries of the Treasury were interviewed on NPR this morning. What they said was not important. What they DIDN’T say was …
Of particular note was the absolute avoidance of any discussion of derivatives–apparently all three are teetering on the brink of pissing their drawers at the very mention of the word, and the prospect of possibly having to respond to it.
Their total abandonment of the basics of physical economics, along with this eerie denial of derivatives, has been the hallmark of this administration’s strategy, along with their desparate ploys to “restore confidence”.
You NEVER hear the “D” word uttered in mainstream media interviews or so called “expert discussion”. You have to sift through the not-yet-propagandized internet to extract any real information about the devastating consequences of derivatives.
You WILL hear the phrase “restoring confidence”, because that is what a con game is after all–a confidence game. And gaining or restoring confidence, as every con artist knows, is how you bleed your mark.
So there is continuing discussion about restoring confidence in the fantasy world of stellar tech stocks, or rising home values, or whatever bubble scheme of the day allows insiders to skim from the top while outsiders lose their 401K and pension funds.
They do this against the will of the people who know better, by keeping ignorant the ones who do not.
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My comment is not for this particular post. It’s the way I view not only this post but your entire site. KEEP UP THE GREAT WORK!!! Our tax dollars has already made these white collar criminals too wealthy already!
But why should they think any different? We’ve bailed out these people several times over the past century. They knew the taxpayers money would come to the rescue when they entered their ‘den of theives’.