Stock Market Scavengers and Dodgy Loans ; economic collapse?
By Kurt Rellians
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Stock Market Scavengers and Dodgy Loans ; Will there be economic collapse?
These scavengers are not men, not real men, with whom you can shake hands and talk about real things. They spout clinically about British or American Industry becoming more profitable, and how for those who are willing to work hard today is a paradise. Yet they have sold their souls a long time ago, signed away their desire for an interesting and honourable life. They have sold themselves to the highest bidder, and competed for the ‘best’ jobs. They say they deserve the money they earn but they buy and sell things which do not belong to them, and their earnings seem to come from nowhere, while ordinary people struggle in their professions.
The scavengers struggle too. They must forever look over their shoulders, unless someone faster, better, or younger should pass them in the estimation of their employer, beat them in business or stab them in the back.
Scavengers are mercenaries. They do little because they believe it to be right. Mostly they do what they do out of crude self interest. In recent years scavenging has been encouraged. As long as activities make money they are justified apparently.
It all helps to stimulate the economy, say the experts, but does it really? Surely not if businesses are closed and workers sacked, functioning businesses torn up and dismantled by the wolves, wolves in sheep’s clothing.
And what now? Oversold mortgages, dodgy loans, credit mountains built on unsound fictional earnings and speculative security. Be careful or the whole lot of it may quite possibly collapse on top of the banks who built it, taking governments with it, and leaving taxpayers to pick up the pieces. The property boom is a bubble which should perhaps have burst a long time ago. It has ratcheted itself up from year to year squeezing ordinary incomes out of the possibility of a reasonable size home. Citizens have turned themselves into mercenaries, selling their souls and their precious lives away to climb that property mountain, while estate agents rubbed their hands together persuading people to take on debts no one would ever before have thought sensible, while they reaped their inflated commisions and the banks enjoy their interest receipts.
Perhaps it is time to shut them down. Close the banks which promised so much and delivered only economic failure. Retire permanently the clever experts in suits who reckon they know what is best for us but deliver only property market and future economic instability, while their snouts were in the trough all along. Ban the gambling games for little boys or big men (?) which go on in the biggest cities, the speculative markets which no ordinary person can understand let alone the auditors and government officials who are supposed to police it. Is it any wonder a rogue trader can lose millions when no one can trace what he is doing or see how it works. Will someone explain why this kind of activity is necessary for the functioning of our economy? Ban it and make it simple, then we will all be able to see what is really happening. (You don’t have to believe in socialism or capitalism. Why not have simplification, and the rule of law, enforcement!)
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Comments
i agree with your analysis
keleph
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I really like this piece
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