Let Them Eat Mud Pie

11-05-2010 • ZeroHedge.com

These folks could care less if 90% of America is reduced to the status of Haiti in the long-run where people eat “mudpies,” a mixture of dirt, salt and vegetable shortening to survive. Now, this is not my prediction for America but the point I am trying to get across that most people still do not understand is that the U.S. economic structure is collapsing right before our eyes and what the Fed is trying to do is prop up the stock market so that people stay asleep while Wall Street and the banks take what is left of this nation’s wealth. What I want everyone to stay very vigilant on is what the large TBTF banks do in the months ahead and more importantly what Washington DOES NOT do to stop them from taking the scraps that are left. In case you haven’t seen the articles, the banks are expected to pay out record bonuses this year. Meanwhile, the bank stocks are amongst the worst performing in the stock market this year. Furthermore, the government continues to allow them to use fake accounting for their assets so they can report operating profits. This allows bonuses until the whole thing collapses again by which time unemployment could skyrocket but they have once again picked the pockets of the public. The fact that there are even shareholders willing to own these banks just demonstrates how prevalent the Stockholm Syndrome (Stockholm syndrome is a term used to describe a paradoxical psychological phenomenon wherein hostages express adulation and have positive feelings towards their captors that appear irrational in light of the danger or risk endured by the victims, essentially mistaking a lack of abuse from their captors as an act of kindness) in America. Remember, no matter which party is in power in Washington D.C. what ALWAYS gets more power although they are the biggest cancers on society are the Fed and the big money center banks.