Thursday, March 02, 2017

Humpty Dumpty -- the Folly of the Bull Market

In the midst of our political Trumpian chaos do not take as a tranquilizer or be fooled by the skyrocketing Wall Street market. Non-existent regulations led to the 1929 Great Depression. Those New Deal regulations that were supposed to ensure the Depression never happen again were repealed and ultimately led to the credit rating mortgage security monsoon. The Great Recession of 2007 was born. Too-Big-to-Fail Banks were given the much loathed bailouts and Obama's Dodd-Frank regulation was passed. Recent Republican and Trumpian removal of those regulations yet again is music to Wall Street's ears. Trump is talking trillion buck infrastructure and tax cuts for the rich. What's for Wall Street and the 1% not to like? Answer: Nothing. What's for us, the plebeians, not to like? Answer: EVERYTHING. You who voted for the ignoramus Trump or were duped by his "charisma" will feel the ultimate crush when Wall Street comes tumbling down and there is no will to bail banks out again. Can you spell Depression both economic and emotional?

Trump and his tax plan stupidity with his planned infrastructure spending will produce HUMONGOUS national deficits. How much of a ready-to-burst-bubble do you think is there waiting for the right time to explode? A Wall Street gone wild with no oversight will ensure a bust will happen again. Deregulation is poison for the middle class and their 401K's. It is exactly why Social Security/Medicare is so necessary. Ayan Randian unrestrained capitalism gone wild is hazardous to our health and has been proven to be so throughout our nation's history. Even decades long Fed Chairman, Alan Greenspan the philosophical devotee of Ayn Rand, admitted he got it wrong when the economy was on the brink of collapse in 2007! Americans with their notoriously bad memory forget. The bull market is great for the 1% but temporary for the rest of us. An unregulated market WILL burst just like it has in so many eras before when Wall Street regulations are relaxed or non-existent. When the market goes wild and unrestrained it ensures an ultimate panic as it goes down. The plummeting millions of dollars will ensure millions of depositors will try in futility to take their money out of failing banks. It will not be such a George Bailey wonderful life!

Children do not know how to stop playing with things that could kill them. An anarchy of greed rules this nation and it is NOT good no matter how much Gordon Gekko of "Wall Street" fame says it is. Like Humpty Dumpty Wall Street WILL come crashing down yet again but no one will have the will this time to put Humpty Dumpty together again. All one has to do is just wait!

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