You’re walking down the street. A man is walking toward you with a dead rabbit. It’s mid-afternoon. You begin to stop smiling. The man proceeds to beat you with the rabbit. In your pockets you have an overripe banana and a Chinese phrase book. You want to be offended by the smell of dead rabbit. But you find yourself distracted. You’re not eating the banana.
Why aren’t you eating the banana?
Is it dulling the pain of the lousy economy and your growing disenchantment and bitterness? Like any good narcotic should. No worries. Even if you could wake up today, it would be too late. Enjoy the ride.
Several items of corporate/government/fascist/authoritarian free enterprise management of perspective/propaganda/media have stuck in my craw this week. I suppose primarily because they are so thoroughly hypocritical, so entirely self-interested (self being the U.S.), and so glibly passed off as truth but in actuality are steaming hot piles of bullshit.
Item 1:
The ridiculous notion (of course, the intent is to divert attention and manage perspective, nothing new) that the EU is somehow in a uniquely problematic financial situation with the faltering economies of the PIIGS (Portugal, Italy, Ireland, Greece, and Spain). I assure you the U.S. is in a far worse position with innumerable states, including but not limited to California, New York, Illinois, Pennsylvania, Arizona, and New Jersey on the precipice of insolvency. So, the dollar rallies. And will go somewhat higher. Total false premise. Sell it. It’s a race to the bottom and all fiat is trash.
Item 2:
The notion that China is somehow to be demonized for currency manipulation. Please. Have I woken up in a fantasy world? Are you telling me the U.S. has clean hands here? We preach a strong dollar when we want the exact opposite and have for years. You people disgust me.
Item 3:
The idea that Toyota’s present recalls over defects are of great consequence. They aren’t. The exaggeration of and alarmism over the situation is a none too obvious gift to Detroit, which now largely is an arm of the government. A veiled protectionism. But idiotic and misguided like most anything government attempts as Toyota employs tens of thousands of Americans. Toyota stock is a long-term buy after some further correction.
Item 4:
Back to China. The ridiculous notion that the Chinese are somehow stuck with our debt or backed into a corner. Total crap. How boxed in are they every time they buy another mining company or energy company or agree to do business in a currency other than dollars? China is going to cut off our johnson. And as it’s happening, like Baghdad Bob, you can expect our media to be denying it is even possible.
Item 5:
The mistaken notion, incessantly promoted by the media, that this is an “ongoing economic recovery.” There is no recovery. This is bottom bouncing. A stone skipping across a pond. And then. Hello, gravity.
Geithner Says U.S. Will ‘Never’ Lose Its Aaa Debt Rating
Of course, Mr. Geithner is wrong. And stupid. Or just playing a part. Granted, he may inadvertently and technically, and also meaninglessly, be correct in that the negligent and bought-and-paid-for rating agencies themselves may never touch the U.S. rating.
But the bond market. Which may not be that sharp but, in time, eventually does get it. Will. And that popping of the “elephant in the room that shall not speak its name” bubble will be so very ugly.
And of course, on that day, we’ll be here to remember Mr. Geithner’s sage words.
Congratulations, sir, you are in the esteemed company of Senator Dodd as the sole candidates thus far for year’s most assinine, idiotic bloviation. Keep it up. You know you make us very proud.
