Monday, November 18, 2013

Escape Velocity: DJIA 16,000 +


It is a glorious feeling of American euphoria today on Wall Street and in the luxurious confines of the looter class. Pigs are flying as the Dow Jones Industrial Average soared above 16,000 today for the first time in the history of the index. Not that this is really any sort of a true economic barometer of our days prior to collapse but it is what the shills, presstites and state-corporate media are given to push as an indication of a vibrant and resurgent American economy. Pumping 85 billion a month into the now bigger than ever banks thanks to the squadrons of helicopters on constant altert courtesy of Chairman Ben Bernanke and his onerous Federal Reserve, an institution that exists only to ensure that the high-rollers will never have to eat their speculative losses. The cooked to a fine fricassee markets have been in hyperdrive since last week’s command performance by Bernanke successor Janet Yellen who promises to keep the punchbowl filled with booze and the easy money that provides the heroin fix to the junkie banks flowing into the grand New York City gambling houses.

Things are so good that even Turbotax Tim Geitner just landed a new gig over at Warburg Pincus, yet another of those parasitic private equity houses that specialize in vulture capitalism or more appropriately sucking the blood out of the busted out average American and then picking the last morsels of flesh from their bones. The ongoing economic gaming of the system now enters the next stage and Yellen’s coming escalation of the QEuphoria is going to make Bernanke look like Paul Volcker by the time she is done feeding the pigs and inflating the Fed’s balance sheet to astronomical proportions. With the sweet, sweet spike now intravenously and permanently inserted into the arm of the zombie banks the final crushing of the remnants of our once vibrant middle class, at one time the envy of the world is about to be snuffed out for good. While I was driving home this evening I noticed that gas prices have jumped 26 cents a gallon overnight so the speculative feeding frenzy is already on and there is nothing like four dollar per gallon plus right in time for the holiday season to stomp the jackboot of the corrupt bankster state down on the windpipe of a reeling country.

Barack Obama now will also go down in history as the president who finally destroyed American capitalism, not that his immediate predecessors don’t have their own fingerprints on the murder weapon. Whether it be Bush’s maxing the national credit card with costly and unnecessary wars or Slick Willie’s collusion with slimeballs like Robert Rubin to eliminate the Glass-Steagall act and tear down the firewall between actual honest commercial banking and immoral degenerate gambling it is a joint effort. Hell, even the sainted Reagan bears more than his share of the blame for the orgy of deregulation that was just bound to be hijacked by greedy, well-funded special interests who while preaching “free markets” were ensuring that the rules would be rigged so that the only thing “free” would be the boatloads of illicit money that the pigs would eventually extract by permanently fixing the markets. 

Former Reagan budget director David Stockman caught hell from both sides of our false paradigm of a two-party system when he wrote the scathing piece “Sundown in America” in the New York Times. His book The Great Deformation is an extended version of the article that earned him the scorn of the presstitutes and the elitist defenders of a system gone to rot. The Bircher element of the far-right has always pushed the Obama as Marxist whopper when the man is actually by virtue of the system he presides over a fascist and Marx could have never dreamed of nuking capitalism the way that Barry and the boys have with their ongoing government subsidizing of the markets at taxpayer expense. To give Marx a bit of credit capitalism always has held within itself the seeds of its own eventual destruction in that everything becomes commoditized and all is for sale, including government officials, judges, statehouses, universities, the media etc. In the past most of the looting was done abroad as the imperialist policies of this country plundered with aplomb and the big money had the U.S. military on call. Former United States Marine Corps General Smedley D. Butler nailed it when early in the last century he proclaimed:

“I spent thirty-three years and four months in active military service as a member of this country's most agile military force, the Marine Corps. I served in all commissioned ranks from Second Lieutenant to Major-General. And during that period, I spent most of my time being a high class muscle-man for Big Business, for Wall Street and for the Bankers. In short, I was a racketeer, a gangster for capitalism.”

Now the chickens have come home to roost and with foreign lands plundered and occupied the strip mining of America itself began. I have always thought of the analogy of the old Stephen King short story “Survivor Type” as a wonderful metaphor for cancerous vulture capitalism of the type that now exists. In the tale a dude finds himself marooned on a barren Pacific island after a shipwreck. The character is a former surgeon who was involved in drug trafficking and had in his possession a huge cache of heroin (we keep coming back to this substance when discussing Wall Street banks for some reason) and no food. During the story he begins imbibing the drug and eventually has to start slicing off parts of his own body which he then eats in order to survive while he awaits rescue. This is what American capitalism is today, the politically connected corrupt classes have destroyed free enterprise and the spirit of being the best at what you do/produce. In short the pigs have broken the back of American entrepreneurial ladders into the upper class and turned the American dream into a nightmare.

Today’s 16,000 Dow record will be trumpeted by the house shills and the crooked court jesters like Mad Money Jim Cramer but it is all a lie, just like everything else in this debased land as it careens towards the inevitable final collapse. Not that I am any sort of a qualified financial consultant but it doesn’t take an Harvard doctorate in economics to see that the best investment for the near future is in canned goods.

I don't know just where I'm going…But I'm goin' to try for the kingdom if I can…Cause it makes me feel like I'm a man…When I put a spike into my vein…Then I tell you things aren't quite the same…When I'm rushing on my run…And I feel just like Jesus' son….And I guess I just don't know…And I guess that I just don't know

- “Heroin” by Lou Reed 1972-2013