Wednesday, April 28, 2010

Transcations (Blankfein on TV)

Blankfein. (AP) "...we do hundreds of thousands, if not millions of transactions a day, ... ... he said, adding that behind every transaction there was a buyer and a seller, creating both winners and losers." What he said was rubbish, just a load of hot air from someone who cannot defend what he does. But we'll accept what he said anyways, which is that in the trades there are winners and losers.

Yeah, those two: And, thirdly, middlemen. Umpires. Armchair quarterbacks. Brokers or bankers or compradors... Merchants, basically using money. Nothing wrong with that. Right? Maybe not.

First of all -- you can verify from earlier posts of mine -- I think they are psychopathological hypocrites. The decent folks made their money on Wall St. and retired, to run art galleries and bed and breakfasts, or grow organic soybeans.

The banking industry shot down critics at least as far back as the 19th century. They were in the U. S. farmers' or agrarian movement (which had elected some U.S. Senators), and they lost, and the dominant banker interest has continued to dominate such critics ever since. But there was tremendous opposition during much of the 19th century.

As this destruction of the level-headed, perfectly rational opposition to financiers continues, the end result matters. It is not an abstraction. It is matter. And it matters and their behavior in the end causes suffering. This suffering will happen to real people ---- if not to bankers, ha ha ---- what a cute harmless joke. Well of course it causes suffering anyway: you could say that all this behavior has caused plenty of suffering already. (Or do "middlemen" brokers have no responsibility?) Then it will cause more. It will cause more suffering.

Eventually there will be a collapse of civilization, "empire," "epoch," or kalpa or whatever you call it. Then we'll all die. Boy. What a dumb post this one turned nout to be. Pointless. Totally pointless. What do I even think I am doing?

As we struggle mightily to smooth out such periodic business cycles/crises as historians have noted do occur. The problem is this. It is that bankers are peaceful men, who do not kill.

They just keep cheating.

Capitalism is just one big killing machine, because we cannot regulate it or do any better with it.

So what is the point of this blog?

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