donderdag 25 juni 2009

Money O.D.

The bailout and all the less often mentioned quantities that were pumped into the American economy and that according to sources sum up to something like five trillion dollars, have had the effect of an implosion. In stead of using this money to get back to business, as supposedly was the official government strategy, banks and companies have let themselves be overcome with greed. Money! they must have thought, beautiful fantastic all-important money, and so much of it! And so they decided to simply keep their share, perhaps raising the incidental turn-over related management bonus. After all, business is about making money, the more you can show of it the better you are doing. So if some buddy of yours inside the government decides to put taxpayers' money straight onto your account, then all your financial goals are miraculously accomplished and there really is no incentive for doing business anymore. Hell, you might loose the stuff again, given the state of the economy. Quietly sitting on top of your bailout share really is the best policy, every economist or market analist would agree. What actually happened last winter is that capitalism overdosed on its favourite drug and come summer we haven’t buried the corpse yet. Rather we pretend it's still breathing, with some government officials and other assorted magicians claiming they see improvements in the patient's condition. This is so ridiculous we'd better burst into laughter and look at the bright side: capitalism is dead and although the near future is looking bleak and dangerous, this is really the best thing that could have happened to us. Stay cool and stay put and keep your money in your pocket.

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