Great! We are running out of credit crumple zone, the QE/LTRO air bags have been deployed over and over, and we are tossing people under the bus to minimize the impact of a crashed economy on a now useless banking sector … in other words SNAFU.
The debt junkie is OD’ing and we air lift the drug pushers to ICU, makes total sense.
Hell, there is no spoon:
Interesting article, and at the end of the article (where the juicy stuff is often hidden, because most readers don’t go there), I fully agree with Mish’s conclusions that we need to revert to a gold-backed US dollar and end the fractional reserve banking system (Kill the Fed Dead).
However…taking a look at his other articles up now…ones comes across the article about ending the boondoggle F-35 program: “Flying Piano…”
Again, I agree with many of Mish’s arguments about why it needs to be ended, among them the corporate lies used to promote the huge profits these military contractors are reaping, through piles of debt heaped on the public purse….but then, at the end of the article, comes this curious assertion by Mish: “However, no amount of greed, gall and waste is so great unions will besatisfied with it.”
Huh? What is mish talking about? Let’s continue, shall we? Seems in Ft Worth, is a Lockheed Martin plant that manufactures said plane. Seems 3650 IAMAW (Machinist’s union, aerospace workers) workers voted to reject the corporate’s “best and final offer.”
But let Mish tell it first: “Yet, 3650 union ingrates were arrogant enough to walk off the job demanding more money to build this boondoggle. Every last one of them deserve to lose their jobs permanently.”
So, what REALLY caused these greedy, gall-filled and wasteful ingrates to vote to walk off the job (they haven’t yet, just voted to, a strategy to give the union negotiators a stronger hand, showing strength, which Mish seems not to realize, not a poker player he, evidently)???
Well, Mish provides that information too, and how he came to the conclusions he did, is simply amazing. You see, he gives an excerpt from a newspaper detailing it: ” Workers in the union voted overwhelmingly on Sunday to hit the picket line than accept the company’s ‘ best and final offer’, which called for an END TO DEFINED BENFITS PENSION and a switch to a retirement account similar to a 401(k).”
Does that sound “greedy, gall-filled and wasteful” to you, dear reader?
Or does it sound like Mish doing a TALKING ANUS impersonation?
Exactly how he can stand lying to his readers, trying to decive them, is beyond me….he needs to try working a REAL JOB for a change.
I fully agree with Mish’s conclusions that we need to revert to a gold-backed US dollar noone
That’s fascism. No wonder then that Mish is anti-union too.
noone: “Exactly how he can stand lying to his readers, trying to decive them, is beyond me….he [Mish] needs to try working a REAL JOB for a change.”
Just like the builders of the F35? This ‘labour’ is pure waste.