‘The financial system itself continues to exhibit dangerous and erratic behavior; the stock market is rigged and Wall Street is a parasitic wealth transfer operation; commodity prices plummet; junk bond defaults double; derivative exposures remain in the dark; community banks are gobbled up; and the holdings of the mega Wall Street banks become ever more concentrated, with just six banks now controlling over 90% of derivatives and 40% of deposits.’
Wall Street On Parade
There will be the usual movement to ‘blame the victims’ in this, the ‘gullible’ American people who do not wish to face the facts. This is how it always goes, and it works because it is easy to despise the other guy, or just hate ‘the other.’
Most people are busy and working hard to make ends meet. They obtain their view of things from ‘the news media’ for the most part.
When was the last time you saw any rational discussion of any of these charts in a newspaper or on television news program?
And if the ever did present such a chart, it would be to show it and then have a ‘strategist’ from the Democratics and a ‘strategist’ from the Republicans argue about it, relying heavily on spin, emotion, and rhetoric, perhaps backed up with some ‘paid for’ studies funded by oligarchs and their think tanks.
The American people are being fed a steady stream of lies and half-truths from a captive media, and for the most part the privileged achievers keep silent to protect their own interests, to ‘go along to get along.’ They rationalize this by burying themselves in the details of their own professions.
If you hide the facts from people, and lie to them constantly to promote the interests of one or more of the powerful oligarchs and the moneyed interests, how can you blame the people for falling for the lies? Where is the truth to be heard?
This post was published at Jesses Crossroads Cafe on 10 DECEMBER 2015.