Party on Wall Street Dude – Dow 10,000 Again

The headline may be a little premature as the Dow is up 178.203 as I write at 9,980.34. However, you can already hear the champagne corks popping off on Wall Street as traders anticipate the stock market moving above Dow 10,000 in the very near future, possibility even later today.

With the economy showing some signs of only weak revival and with the average American family still in deep debt and housing trouble you might wonder why the Wall Street gang is doing so well? After all, no one really expects the unemployment numbers to look very good any time soon. Sure they are becoming “less bad” but another 200,000 Americans out of work, as is generally expected in tomorrows unemployment report, is hardly great news. Especially for those who just lost their jobs.

The answer to why Wall Street is again so cheerful may lay in the outsized outrageous bonus packages that many on the street will once again receive. Christmas is not so far away and gleeful anticipation must be running high. Isn’t it wonderful how a few million extra dollars deposited into your checking account can brighten things up?

Of course, the real reason for the Dow’s ascent to 10,000 and perhaps well beyond is the true Obama surge. No, not troops being surged into Afghanistan but trillions of dollars being surged into the hands of the Wall Street operators. Firms lead by Goldman Sachs are shamelessly using almost free money funneled to them by team Obama and then using that money to wildly speculate in the stock and bond markets. Isn’t it amazing that guys and gals will trillions of dollars of other people’s money (that’s you, taxpayer) to play with can find ways to keep a party going?

It’s like the crash never occurred, dude. Wall Street is partying on with taxpayer money and looking forward to “earning” huge bonuses for outsized performance in rigged markets. Then when the next crash occurs, as it eventually will, probably when you least expect it, the Wall Street gang and our faithful to themselves public servants will arrange for yet another round of bailouts.

Or will they? Anger is steadily increasing across the American landscape and even today’s dumbed down voters may decide they have had enough. After years of wondering how a small time politician like Hilter could gain control of a well educated and accomplished public and build a powerful military I now understand that when people get angry enough all bets are off as to how they may act or as to what they may do. An exciting skilled orator can gain control over an angry mob no matter what crazy things he/she may be saying.

Another Wall Street crash will trillions of additional public funds being used to once again bailout wealthy Wall Streeters and the financial elite would perhaps become a triggering event that would have far reaching consequences for the American economy and American style democracy. While a coup d’etat is still a remote possibility for America another year or two of turmoil, further job losses, endless wars, and a wide spread decline in living standards would increase that possibility.

So party on Wall Street dude. It may be the last rip roaring party you will ever enjoy. I expect that you are going to have one hell of a hangover.