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Indybay FeatureRelated Categories: International | Global Justice and Anti-Capitalism
A tale of 2 "recoveries" as Dow hits 14,000
Despite the government report that showed the American capitalist economy shrank for the first time in many months, the Dow Jones Industrial average topped 14,000 yesterday, proving once again that when Main Street suffers, Wall Street would soar like an overinflated balloon. The current "recovery" is great for the 1%, but it would be financial Hell for the 99%.
When corporations rule the world(as they currently do, in spite of the massive self-created global bubble burst of 2007), tens of millions of workers are laid off for the sake of profits, and trillions of bankers' debt are off-loaded onto taxpayers' future liability. That is the SOP of Casino Capitalism, where the "house"--i.e., Wall Street's billionaire banksters--always wins. Instead of a productive economy, bogus "terrorist" wars are created to channel the masses' anger onto fictitious foreign enemies, and Austerity measures are then easily imposed onto the unsuspecting 99%. This is Capitalism's "new normal" in the coming years...until the next and even more lethal bubble burst that will be inevitably coming to every town near you, maybe even tomorrow. Stay tuned to the coming power outtage of Casino Capitlaism's impending financial "SuperBawl."