peaccenicked
20th October 2007, 09:18
Following on from the subprime loan crisis, the FED seems to be throwing bad money after bad money (http://www.smirkingchimp.com/thread/10533) and hiding the true figures on inflation (http://www.marketoracle.co.uk/Article2507.html).
I think it was in the preface of EH Carr's book "What is History?, that I came across a quote from Engels about History being a cruel goddess-there is so much suffering before consciousness catches up with developments.
The official optimism of the market pundits like that of the SWP in the UK is one of denial of how bad things are, for the market pundits it is the ritualised embedded wow factor that appears in most of the articles in economic magazines and Bloomberg tv, as to the SWP they once called themselves the 'smallest mass party in the world'. No matter how bad things are for themselves they feel the need to keep the mood of the membership buoyant, it is in general how cults retain their membership. Like the SWP the Banks have to keep the investors happy and give a positive spin on gloom and hide the actual truth.
The mass media also hides the truth from the public but it will appear in foreclosures and job cuts. Imperialism is in for a bumpy ride with oil prices at an all time high. As Joe Hill said 'don't mourn organise.' In these grief stricken times we should change that to mourn and organise but the first thing we must do is wake up to the magnitude of the forth-coming crisis.
I think it was in the preface of EH Carr's book "What is History?, that I came across a quote from Engels about History being a cruel goddess-there is so much suffering before consciousness catches up with developments.
The official optimism of the market pundits like that of the SWP in the UK is one of denial of how bad things are, for the market pundits it is the ritualised embedded wow factor that appears in most of the articles in economic magazines and Bloomberg tv, as to the SWP they once called themselves the 'smallest mass party in the world'. No matter how bad things are for themselves they feel the need to keep the mood of the membership buoyant, it is in general how cults retain their membership. Like the SWP the Banks have to keep the investors happy and give a positive spin on gloom and hide the actual truth.
The mass media also hides the truth from the public but it will appear in foreclosures and job cuts. Imperialism is in for a bumpy ride with oil prices at an all time high. As Joe Hill said 'don't mourn organise.' In these grief stricken times we should change that to mourn and organise but the first thing we must do is wake up to the magnitude of the forth-coming crisis.