Waiting for the Wall Street implosion that didn't materialize, I watched the financial news. What emerged was a discussion of the two economies.
Guess what? Now there are two economies, one for the investors, super elites and the real one for the rest of us. We should not pay attention to the paper economy according to financial advisers, it's just the place where the super elites create investment vehicles, derivatives, hedge funds, bonds...and all of that stuff which is simply the trading of paper. Nope, the real economy is just fine. The trouble is this paper economy.
I'd say so. Corporations get $200B. Americans, of which over 2 million homeowners are facing foreclosure, get...$600 dollars.
Corporations trading bad debt to the point of insolvency and guaranteed bankruptcy get bought out with Fed intervention....Americans get their jobs offshore outsourced and bankruptcy bills that don't allow them to get out of their debt despite being dirt poor.
Even worse, it seems there is an entire economy just for the super rich that consists of new investment vehicles which when discovered to be pure fiction, get a bail out.
(sssh! you're not supposed to call it all a bail out!)
Finally, don't forget for the small investor, those financial journalists must be prudent, after all they cannot accurately report on this other economy because after all, that might cause a run on the banks....