Monday, October 10, 2011

Wallstreet Protestors - Occupy Wall Street have good reason to be angry

Wallstreet criminals pump markets to be dumped again - it won't be long before currency is worthless. It won't matter how much you make in this market (if you make anything) because it won't be worth anything in the near future - if they even make it through this year.

By all rights this market should be collapsing to allow for a natural correction. Stocks are way overvalued and the US dollar and Euro are doomed because of all the artificial manipulation. No amount of stimulus is going to solve the debt situation in the US or Europe. Creating more debt to fight debt that is already out of control never works.

I wrote about this over 2 yrs ago and everyday it is becoming more of a reality. The American dream has been destroyed and a new corporatism put in place with the complete destruction of the middle class and freedom that was once a staple of the United States.

There will be no housing market recovery without jobs. Since there's no hope of a job recovery because all the jobs were outsourced away there could not possibly be a recovery based on jobs. Why would people work when the government just creates more money so more cheap goods can be purchased from China, Mexico, or India (anywhere but here)... Eventually this situation comes to a biter end.

The construction industry which provided many jobs has also been destroyed. No reason to build new houses with no jobs and so many homes available that have been drastically reduced from once soaring values (some people actually think those days will come back). So basically the core of jobs has been destroyed - even jobs that have to be done here such as building a house are gone.

Unlike people that lost their job & homes corporations like Goldman Sachs or Pfizer get massive bail outs - and tax payers get the bill. Despite all these bailout no jobs have been created for civilians.

The Federal Reserve Bank meanwhile spent approximately 16 trillion between 2007-2010 according to the Ron Paul audit. The sick thing is not only is this more than the combined national debt much of the money went to foreign countries. Yes that's right they spent more than the combined national debt in only 3yrs time. All Bernanke can say is I don't know where the money went - not good enough Ben! You are not only liable for that money - you are responsible for much of the destruction of the United States financial system.

Americans were promised hope and change after Bush left power but all Obama has brought is an extension of the Bush nightmare and new debt. No wonder young people are marching down the streets in anger. They have good reason to be angry when their own government sold them out. It will just get uglier though - the government will just enforce martial law and use this as an opportunity to expand the government more.

Law Enforcement doesn't care - they will just collect more overtime. Guess who gets the bill - the tax payer. Little do they know the money they make now will be valueless in the near future for the polices they are protecting. You might live high now - but you will come down - like everyone else that has gotten high off of this artificial stimulus and fraud. The clock is ticking and the pool is overflowing with debt.

Is it really the responsibility of the people when the government created the debt situation by repealing acts such as Glass Steagall Act and allowing the central bank to push rates so artificially low? The corrupt WallStreet controlled government knew exactly what it was doing all along and they never stepped in when things got out of hand.

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