True-but you got Wall Street et al brainwashing Americans into believing their evolving finance based economy is a good thing. It’s not. America will find herself broke as we are now and second rate. These rats think they are more important than they are.
I almost threw up last night listening to one of the finance channels talk about how Citibank ‘was to big to fail’ and would be bought out-not even American owned anymore, while the auto industry should just fold-there must be blood you see-but not theirs. They believe they can push paper around, but this does nothing to create real wealth. You must have something to offer the world in terms of hard goods.
Also, the idea that Americans should not receive decent wages, benefits or any sort or retirement is awful. I don’t mean unions either. I mean ordinary people. We will have no money to buy homes, cars or even to send our children to college if they get their way. This economy will make a few influential wall street bankers rich, but the rest of us will be facing a much reduced standard of living.
Good to see you back. I think we agree about the value added of the financial economy vs. the real economy - if not on the preferred strategy to save GM.
Wrt GM, one of the things that has really confused me is the lack of Wall Street pressure for a bailout that avoids bankruptcy. Reason, there is $1 trillion (!) of credit default swaps written against a GM debt default.
http://www.globalresearch.ca/index.php?context=va&aid=10535
I’m just surprised that the people who will have to pay up in the event GM bankruptcy occurs have not been more aggressive in supporting the bailout.