Thursday, September 25, 2008

We'll all be rooned

This capitalism system thingy seems a bit dodgy hey? Wall Street in trouble. Taxpayers expected to make up the losses that overpaid fatcats….well probably more likely expensively gym honed bodies…..have got their companies into. The profits have been taken and all that is left is for the losses to put back onto you average worker. Not quite how I thought balance sheets should work.

Ah well, apart from me being appointed as a dictator, I can’t think of a better system.

My church going grandmother was probably right. Don’t smoke, don’t drink, don’t gamble and don’t go with fast women. I picked up one of her items of advice. I have never gone with fast women, but, even so, I kinda like them too.

I really don’t like the idea of these Wall Street type shysters making money out of gambling. When people gamble, they pretty well lose, but I see no sign of this in this situation.

No, I think what they are doing is taking money away from someone or something. I would even call it stealing.

I better get to some sort of point.

Let the recession happen if that is what is needed to pull Wall Street types into line. Send them broke. Good. Bad institutions are being propped up with public money.

I can plant spuds in the garden, or a styrene box on the balcony. Let them do their worst.

USA President Bush informed us today about the end of the world if his plan of rescue for the US was not approved.

I say, call his bluff. The damage to the poor and gullible in the US has already been done, and he remained silent.

12 comments:

  1. It is a sad state of affairs indeed. I am out to plant carrots and beets I think..maybe a few fruit trees like when I was little..everyone had at least 4 fruit trees in their yards..remember that?

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  2. Course I remember those times Cazzie. I like modern things, but don't think I couldn't go back if I had to.

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  3. I agree. The purpose of the free market is to weed out inferior operators. While these people are on a much larger scale, it should not be the taxpayers bailing them out. I've been following this sordid tale in both Time and The Age Business, and the salaries these chubby cats were on are obscene!

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  4. The crisis is quite sudden in coming, isn't it? Amazing that he hasn't noticed it coming over the last eight years.

    (Now see what you've done? You've gotten the fast woman all riled up.)

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  5. I've been expecting this for at least 10 years.
    Dined on home grown carrots, celery, silverbeet and broccoli last night - tasted so much nicer knowing nothing had slipped into those gamblers pockets along the way ;)

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  6. Rob, they argue that if you want talented executives, then you have to pay them a lot. I don't see any signs of talent at the moment.

    Lol Daisy.

    Yep Jayne, so terribly predictable.

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  7. There must be a shortage of braincells over there. No economist with tuppence worth of brains would overlook such an impending disaster.

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  8. Being the ultimate cynic Reuben, someone is or will do very well out of this.

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  9. The "talented" ones left the ship after pushing aside the women and children. They're now in some country without extradition.

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  10. "Andrew said...

    Being the ultimate cynic Reuben, someone is or will do very well out of this."

    Damn straight. A lot of short sellers are making a nice healthy profit. If only I knew more about the sharemarket, I could be filthy rich. But instead I'm still buying the cheap beer.

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  11. Unfortunately it seems that the American public is screwed either way. If the banks fall, people will be out of super/401k and houses foreclosed. If the government props them up, they will be paying for it in tax instead.

    I reckon let Wall St. fall. I think many Americans need a bit of a reality check.

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  12. That is what it is like Rob. They care nothing for any other human.

    Earn your money with honest labour TDW, and you will have your Stella.

    Hi Volacious. Thanks for the comment. Quite a few Australians could do with the reality check too.

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