US Stock Market Stumble - Reprint

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Didn't your MOTHER ever teach you not to be greedy? Don't you wish you had listened?

It's okay, unless you were totally absorbed in imaginary wealth, you'll make it through. The rest of you are screwed. Not my fault, you did it to yourself.

The US stock market stumble isn't the end of the world.

It's the equalizer to bring the high and mighty back into the realm of reality. As it looks at this writing, not even gold is a sacred investment, but that isn't a surprise to people who have looked with open minds rather than open wallets. THERE IS ONLY SO MUCH WEALTH IN THE WORLD. It has always has been that way, and so it will ever be.

For the other 90% of us, there's some really good news. The inflated prices we've been paying for years to boost the incomes of the greedy few at the top are going to drop. It is not inconceivable that we'll see gasoline below 2 bucks a gallon again, and while it won't show up at the grocery store for a few months yet, we'll be seeing the benefits at department stores this holiday season. Those of us who work hard for our money rather than playing with other people's futures are being put on steadier footings than we've had for many years.
Credit is not real wealth. It never was. It never will be.

Go to http://www.myspace.com/illusnist, and read the blog posted November 14, 2007, titled "notes from my debit card." There is nothing happening today that wasn't already in progress a year ago. NOTHING. It has been in progress for over 200 years, perhaps as much as 2000 years.

An excerpt:

For exhibit number two, we'll introduce the influence of government. Like any other business, government wants your money as well. In exchange for your money, government will tell you what to buy, and when to buy and how to buy and why its important to buy it now. They won't TELL YOU they are telling you this. That would collapse the markets. In capitalism, the government is responsible for maintaining the markets. It must regulate the local currency exchange, and modify something that I will call "base value" as needed to keep the economy active. This second part sounds good until some wise-ass points out that "base value" is any arbitrary value. In other words, it isn't real. It is a value that is generated by a very select group of people (in the U.S., this group is the federal reserve, or simply "The Fed"), which has little or no actual basis in reality, but relies of the whims of current events. This number, while being imaginary, is the "base value" on which everything else is priced. And there you have exhibit two, parts A (government guides consumer buying) and B (government sets arbitrary base value of currency). If desired, we could complicate things by adding part C (government prohibits monopolies under exhibit number one to prevent competition under exhibit number two, parts A and B).

Hallelujah, noel, be it heaven or hell, the Christmas we get, we deserve.