The holiday season came with a bear, as stock markets around the world are simultaneously crashing. Trade wars, led by the US, have constipated global trade. Nothing is moving, and the US Federal Reserve has begun raising interest rates, which had been kept near zero for years.
These 0.25% interest rates were for the banks, not for small businesses or working people. No college graduate with massive student loan debt was allowed to refinance at near-zero either. For working people it’s 6.9%. Or 13.9%. Or 29.9%. That’s how banks made their money during this “longest bull market in history.”
It was actually the longest bullshit market in history, fueled by free money electronically “printed” by the Fed, and given to banks to prop up their worthless “assets.” We’re talking everything: from stocks & bonds, to currency & cryptocurrency, as being a massive speculative bubble.
There has been no real-world basis for new money creation, since the Fed began “quantitative easing.” QE is where the Fed prints new money (even though there is no economic basis for it), so it can give it to itself & it’s cronies. That’s crony capitalism in a plutocracy. Works great for the 1%.
These elites have no concept of reality, and believe all their bullshit to the end. It’s the working people, who have been getting shafted for the longest time, who need to rise up with political awareness & revolutionary intentions. Otherwise the cost of this financial crisis, which the ruling class created & is entirely responsible for, will be shifted onto their backs– again.
This is THE BIG ONE. In 2007-08, the US Federal Reserve still had the capacity to absorb Wall Street’s losses, by shifting them onto the books of the federal government, meaning US taxpayers are now responsible for the ~$21,000,000,000,000 federal deficit.
The level of debt for the 3 major US stock indexes (S&P 500, DJIA & NASDAQ) is in the hundreds of trillions of dollars, meaning it is unpayable. That’s the magic of compound interest, as once the level of principle owed gets so high, the interest payments become unservicable.
The gross world product in 2018 is projected at $87.5 trillion, and the Fed can’t print enough “new” money to sustain this financial house of cards, without making the dollar worthless. Under-performers that used to allowed to go bankrupt in an earlier stage of capitalism, are now deemed “too big to fail” in a bullshit market.
The industry term for this phenomenon is zombie company. Over 15% of US corporations are zombies by definition, and globally it’s 12%. Tesla is an example of a zombie corporation, in that it manufactures very little that is useful, at an extremely high cost. The debt level for Tesla is unpayable, yet CEO Elon Musk is allowed to parade around as a patriarch boy genius, when he’s really a neo-fascist Ponzi-scheme swindler– like all the rest. The world’s biggest banks & hedge fund managers are all tied into this shell game, and they have no answers, except more austerity, inequality & war.
The #MeToo campaign severely wrecked itself with it’s cringe-worthy performance at the infamous Kavanaugh Hearings this past October. They appear to have gathered all their strength for one last volley. For the #MeToo campaign, this could be the proverbial “dead cat bounce,” which happens when something crashes from a great height, and then for an instant appears to rise, only to collapse dead in a heap.
It was sensationally announced on Christmas Eve (yesterday) that actor/artist Kevin Spacey is to be charged with sexual assault on January 7, 2019. This comes from former Boston news anchor Heather Unruh, who accuses that Spacey had assaulted her adult son in July 2016.
Since her son was age-18 at the time, he should speak for himself, don’t you think? Readers aren’t even given the boy’s name in the mainstream press, it’s just his mother who speaks, and here’s the video– which published Nov 7, 2018 has <2,000 views. It’s beyond weak, but hey– that’s #MeToo.
Kudos to Kevin Spacey for his video retort, which published on December 24, 2018, already has over 4 million views, before noon (EST) on December 25, 2018. If Kevin Spacey & his legal team can handle this nonsense, then it’s lights out for #MeToo. Artists everywhere wish Spacey & his team well, and offer all our support– in the name of artistic freedom & democratic rights. Consider it a FU to #MeToo.
Q: You know what we’re going to get these #MeToo witch-hunters for Christmas next year?
A: A big wooden cross, so whenever they feel unappreciated for all their sacrifices, they can climb up on it and nail themselves to it.