Tuesday, October 13, 2009

First the Bad News, Then the Bad News

This is what we knew anyway---people are making money by laying off, working the remaining work force harder, and sitting on their investments. In other words, as the article says, "cutting costs". Meantime the unemployment rate goes higher.  While the Fed is unlikely to raise interest rates till it starts to go down, the bad news is that the credit card and banking companies don't give a shit...they are raising their rates to us anyway, while they continue to rake in record profits thanks to infusions of our money and the totally lax demands made on them by Geithner/Summers in exchange for it.

The difference between the anger this has inspired in teabaggers as opposed to the anger amonst liberals is that liberals understand the reason:  not that the government is all-powerful, but that it is now wholly-owned by the all-powerful FIRE sector, and the enemy is not in the White House, it's in the boardroom.

But it's so much easier to pick on the relatively weak, which is why you'll never hear them complain about corporate control.  Gay people and pregnant women can't take away your home.

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