A Casino Economy Despite a string of disastrous economic figures, stock markets throughout the world are surging. In the past year, the US Dow Jones Industrial Average and the British FTSE 250 have each risen by 24 percent or more, while the German DAX has shot up by at least 39 percent. The NASDAQ has already eclipsed its previous record, while the Dow has also surpassed its previous high. The continued rise on stock exchanges comes as manufacturing activity in Europe, China and the United States slumps to its lowest level in three years. The European economy as a whole is contracting. In the latest release of economic data, US durable goods orders recorded their sharpest fall since previous years and the US economic growth is moving downward. How do we to explain this gigantic rise in stock values even as the U.S. and global economys are sliding into a deeper slump? The boom in stock prices is an expression of a global redistribution of wealth from the bottom to the top. The social conditions of the working class have been driven relentlessly downwards, while the Federal Reserve (money masters) are handing trillions of dollars over to the banks and Wall Street… mainly for the purpose of financial speculation in the gambling, or for no better word…the casino economy, for example…the Foreign Exchange and the Derivatives’ Market. The money masters are pumping money into the “gambling” economy and not back into the “real” economy where it could be available for the average working citizen. Within the last few months, the US Federal Reserve, the European Central Bank and the Bank of Japan have all taken new measures to pump hundreds of billions of dollars into the casino economy for the purpose of financial speculation…gambling instead of putting it into the real economy. Instead of productively investing the money in the real ( U.S.) economy, the money masters are either hoarding it or pouring it into the stock market and other forms of speculation, such as again…the Foreign Exchange (other countrys) and Derivatives market. The “money masters” have no motherland. They are without patriotism and without decency. Their object is profit. The enormous sums of money being pumped into the financial system are bankrolling record payouts for executives, whose compensation is often tied to share prices. The upsurge in stock values does not reflect a healthy real economy, on the contrary…it reflects a casino economy run by a greedy financial plutocracy that dictates policy in the United States and internationally. Each new surge in stock values means an assault on the real economy, such as jobs and social programs. In the arena of financial trading…the casino economy… money itself is simply gained by the movement of other money in an arbitrary game, which holds zero productive merit to society, such as… the average working person’s true physical well-being, state of happiness, or social stability. The money masters pursue money for the sake of money and nothing else, which again… holds zero productive merit to society…the real economy. ----- Bennie Hively, A Casino Economy
Posted on: Fri, 29 Nov 2013 16:01:18 +0000
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