Tuesday, October 13, 2009

Each got a shilling

In the ongoing spiral of the economy, Gold and oil continues to go up as the Dollar goes down. A prominent equity analyst has downgraded Goldman Sachs stock. Usually it’s Goldman that is driving down somebody else’s stock or manipulating commodity prices in order to make a killing. Goldman stands to reap a cool Billion on the demise of CIT Bank and taxpayers will take a bath. Small and medium companies that depend on CIT for lines of credit will also suffer. But it doesn’t matter to Goldman how many companies go under. The real economy is none of their concern.

Goldman has a special fund for money it has allocated for executive bonuses. So far this year they have squirreled away 24 billion for this purpose. There really is money in the phony economy of financial services. Money that came right out of everybody else’s pockets. The conservatives love to talk about Obama’s plans for transfer of wealth. Look around, the wealth has already been transferred.

The Neo-Cons achieved one of their long desired goals this year. All branches of the US Military met their annual goals for recruiting for the first time since going all volunteer despite the ongoing wars. We now know what level of unemployment is needed to produce cannon fodder most efficiently. Thomas Jefferson warned that one of the biggest threats to Democracy was having men so poor that they would be willing to be shot at for a shilling a day. Obama authorized 13,000 more troops for Afghanistan today but the White House refused to characterize it as a troop increase and claims it is just a rotation of support troops. Each soldier got his shilling just the same.