What “Just Happened”

According to conservatives, economic detriment “just happens.” It is an expected risk. That’s life. Just accept it.

Congress just made it the rule of law.

What Happens “Now”

With the “CRomninbus” bill passed as amended, we can now expect financial risk to progress the way Wall Street wants it to.

Maybe it looks like no big deal, but without the push-out rule there is no incentive for TBTF financials (SIFIs) not to use your savings–your pension, for example–against you; and when the dirty deed is done, Wall Street will argue that the risk “just happens.” It’s an act of God. That’s just the way “it” is. Submit, and the war is over!

The derivatives market is dark. It is not visible to most people.

What you will see of the derivatives market is the effect: rising prices, falling median income, and massive unemployment. Instead of reducing the welfare state, the need for government expands. The effect is not socialism for the masses, but state capitalism–socialism for the rich. With growing dependence on the state, the state claims ownership of your life–what you are going to do, how and when you are going to do it, all in the name of public safety and welfare…and all because of a regulatory rider amendment that just happened to be attached to a CR-omnibus bill.

Remember how this works. Consumed with all the issues associated with inflation, unemployment, and the “emerging” chaos that demands the social contract, a sudden, massive economic risk appears out of the dark. It’s too big to fail.

It’s important to understand, it’s not gambling that results in the massive detriment. Wall Street does not gamble. It banks on a sure thing–default!

Default is the thing that “just happens.” It has a cause, but not on purpose. It just happens no matter what.

The gambling scenario is an analogy. It is a way to describe what happens when “the music stops.” Credit becomes so over-extended (over-leveraged) that suddenly it stops. That the credit stops is not gambling. It is a fully expected risk “on demand”–existing to demand the supply against rising prices. Default on the debt is the expected value…it’s not a gamble. The analogy is about the ensuing bailout: “it is like” covering a gambler’s losses, but really, what you are doing is paying the robbers a bonus for doing such a good job, robbing you–forcing you into default!

It matters little to capitalists how much money they lose forcing people into default. They have plenty of money. What is important is that you lose, being reduced to next to nothing, being “made” dependent!

Dependency is what “the makers” make and the “job creators” create.

The “big risk” is not a gamble. It’s a sure thing that measures the resistance and quantifies the risk going forward, existing now, in all the futures.

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About griffithlighton

musician-composer, artist, writer, philosopher and political economist (M.A.)
This entry was posted in Political-Economy and Philosophy and tagged , , . Bookmark the permalink.

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