Karl Denninger gives us a wrap-up (and more!) of how the fraud, corruption, and cover-up has been systemically implemented (and has been business as usual for awhile in our maturing bubblicious economy).
“We’re now seeing mainstream media articles on silly little inconvenient facts like:
- Intentional understatement of price inflation….
- Which leads to overstating GDP….
- And screwing Granny in her COLA adjustment on Social Security….
- And convincing people that unemployment is low (which it is not)….
- And enticing people to buy government bonds (T-bills) at a negative rate of return….
- While intentionally throwing hundred of billions of excess liquidity into the banking system so that your “best buddies” don’t have to fess up to their losses which….
- Empowers Wall Street to blow bubble after bubble, while offloading their trash and costs into pension funds and ordinary people’s pockets so we will all eat it while at the same time they pocket billions in fees and bonuses.
“Never mind the cover up of all of this, where the lies just keep getting bigger and bigger as the compounding of fraud and theft snowballs just like 30% interest on a subprime credit card.”
Read the entire post from Wednesday here.
Captain Obvious here
Question: Social Security is clearly a Ponzi scheme- i.e. the people who invest earliest get part of their investment back, the last ones to “invest” don’t.
Was it designed that way?
“It’s their fault for being poor.” -some trust fundie