Broad Oak: your emotional support animal

Sunday, December 14, 2014

Jamie Dimon, the man who put the turd in your turducken

"Wall Street’s biggest banks squeezed out a victory this week when the House narrowly approved a spending bill with provisions that would weaken a section of the Dodd-Frank financial regulations," says The Washington Post.

Then it tries to sweeten the bitter pill by saying, "But the win came at a high cost for the banks -- in spending down their political capital and inflaming public opinion."

As though the demigods playing carelessly with your money give a damn what you think. What bothers them is the possibility of having their train set taken away by the impact of falling oil prices on the unbelievably inflated derivatives market, as Ellen Brown explains.

Derivatives are the fourth horseman in Michael Panzner's apocalyptic vision of a destroyed world economy. Sat behind him, like the lethally oversized crowd in "Widecombe Fair", are the financial establishment and all those they have bought and bullied, and by George they want cushions and helmets for everybody who matters.

Democracy is a sick joke. On both sides of the Atlantic, a professional class of political gamesters have worked out how to get what they want for themselves while appearing to be answerable to you. In the case of last week's "CRomnibus", it was the blackmail of not approving the US Government's budget bill unless it had a deadly rider strapped into the saddle: banks that gamble with your deposits insisted on having the latter insured so that the bets could be bigger and more reckless. My bet wins, I win; my bet loses, you pay.

Matt Taibbi is close to despair at the complicity of the Democrats: "... they're not a real party. They're a marketing phenomenon, a big chunk of oligarchical Blob cleverly sold to voters as the more reasonable and less nakedly corrupt wing of a two-headed political establishment."

Are they wrong, these cynical psychopaths who are masters of our universe; or are we wrong, for expecting any other result?

There is an episode in Henry Miller's "Tropic of Cancer" where a foreign student in Paris is directed to the toilet but in his ignorance uses the bidet instead. Miller extrapolates this (p.158) into a vision of a heavenly feast in which you are brought a silver platter, which has on it only two stinking "number twos".

Do you imagine that the silver platter-owners can't guess your opinion? It's part of the treat for them.


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1 comment:

Paddington said...

The people who have made the 'big bucks' in the past 30 years have done so by creaming a little tiny piece of every transaction. Thus, as the velocity of money increased, so did their wealth and power, regardless of the fact that they had done absolutely nothing to create said wealth. As spending scales back for many people, given that industrial wages are stagnant, what did they think would happen?