Friday, August 23, 2013

Dueling charts - Updated

Well, this is an editorial so clearly it "was not intended to be a factual statement." For one thing this is not "Obama's Recovery," this is your future under Republican economics.

You might think the editors of the Investors Business Daily would have some interest in telling the whole story because rising tide lifts all ships or something like that. Oh wait, no they don't. The recovery has sucked for almost everyone except the very wealthy investor class, who want corporate friendly Republicans in power. So they won't mention the GOP's obsession with austerity and draconian cuts in government spending they extorted have greatly impeded recovery that benefits all the lower income classes.

Neither will the concern trolling editors at IBD mention how Big Banksters impede the growth of small business.
Neil Irwin highlights these charts from Hyun Song Shin’s comments at the monetary policy summit in Jackson Hole, WY, which provides an “interesting analysis that goes a long way toward explaining why growth has been so disappointing over the past four years.” The chart on the left shows that credit for the corporate business sector has picked up since the recession, while the chart on the right shows credit continuing to flatline for the non-corporate business sector.
Big Banksters got megatons of money on the cheap from the Fed for the express purpose of lending to non-corporate businesses. But they didn't, and still don't, lend to anyone but their corporate cronies because, profit. They like the recovery just the way it is but they're happy to keep the little people angry with half truths so they won't notice who's really screwing them.

Update: Explosive addition to this story by Greg Palast, who has the Bankster's secret end game memo that tells the story of how they invented and enshrined casino capitalism.
The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.

The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

The memo is authentic.
Fair warning. Do not read the nauseating details on a full stomach.

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