JASMINE REVOLUTION

JASMINE REVOLUTION

Will The Great Firewall Of China Prevent Tomorrow's Beijing "Jasmine Revolution"?

Tyler Durden on 02/20/2011

What could possibly be the most important unreported news from the weekend comes out of China, where quietly Internet postings have circulated, calling for disgruntled Chinese to gather on Sunday in public places in 13 major cities to mark the "Jasmine Revolution" spreading through the Middle East. The postings, many of which appeared to have originated on overseas websites run by exiled Chinese political activists, called for protests in Beijing, Shanghai, Guangzhou and 10 other major Chinese cities. And while there has been some speculation this latest "social network" protest is nothing more than performance art, the Chinese authorities sure are taking it seriously: "The calls have apparently led the Chinese government to censor postings containing the word "jasmine" in an attempt to quell any potential unrest. "We welcome... laid off workers and victims of forced evictions to participate in demonstrations, shout slogans and seek freedom, democracy and political reform to end 'one party rule'," one posting said." Just like surging prices (which however are either forcefully adjusted to not be reflected or eliminated entirely from the data stream) caused virtually all prior Chinese social revolts, will they succeed again? And more importantly, will China demonstrate to the US that the only way to prevent a 'twitter revolution' is to wrest control of the internet entirely? If so, how many days before Big Brother is actively scouring through every single 100Base TX for daily keywords of choice with HBGary patiently waiting in the corridors to unleash a destructive DDOS at a moment's notice?

From the AFP:

Protesters were urged to shout slogans including "we want food to eat," "we want work," we want housing," "we want justice," "long live freedom," and "long live democracy."


Chinese authorities have sought to restrict media reports on the recent political turmoil that began in Tunisia as the "Jasmine Revolution" and spread to Egypt and throughout the Middle East.


Unemployment and rising prices have been key factors linked to the unrest that has also spread to Bahrain, Yemen, Algeria and Libya.


Searches Sunday for "jasmine" on China's Twitter-like micro-blog Weibo ended without results, while messages on the popular Baidu search engine said that due to laws and regulations such results were unavailable.


Some Chinese Internet search pages listed "jasmine" postings but links to them were blocked.


The Chinese government has expended tremendous resources to police the Internet and block anti-government postings and other politically sensitive material with a system known as the "Great Firewall of China."


In a speech given Saturday, Chinese President Hu Jintao acknowledged growing social unrest and urged the ruling Communist Party to better safeguard stability while also ordering strengthened controls over "virtual society" or the Internet.

The stunning call for insurrection has caught so many off guard, some believe this is just some high powered attempt at artistic expression:

Activists seemed not to know what to make of the call to protest, even as they passed it on. They said they were unaware of any known group being involved in the request for citizens to gather in 13 cities and shout, "We want food, we want work, we want housing, we want fairness."


Some even wondered whether the call was "performance art" instead of a serious move in the footsteps of recent protests in Egypt, Tunisia, Bahrain, Yemen, Algeria and Libya.
And just as China's ministry of truth is learning from the BLS, so the US department of full disclosure is rapidly doing all it can to take down whole section of the internet when and if it deems that acts of sedition have spread pervasively within US territories. Indeed, China is well ahead of the US here, and the seriousness and rapidity of the response indicates this is most certainly not a drill:

The call to protest was first posted on the U.S.-based Chinese-language website Boxun.com. "Boxun has no way to verify the background of this and did not participate," it said.


The Boxun site was unavailable Saturday, and reported being attacked.


"This is the most serious denial of service attack we have received," it said in a statement. "We believe the attack is related to the Jasmine Revolution proposed on Feb. 20 in China."

In the meantime, despite numerous RRR and interest rate hikes, Chinese prices continue to surge:

The ruling Communist Party is dogged by the threat of social unrest over rising food and housing prices and other issues.


In the latest price increase, the National Development and Reform Commission announced Saturday that gasoline and diesel prices would be raised by 350 yuan ($53) per ton.


Meanwhile, Shanghai became the latest city to place new limits on housing purchases to tamp down soaring home prices. Residents who already own two or more homes in Shanghai would be prohibited from buying more, while outsiders would be limited to one, Xinhua reported.

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Providence Sending Dismissal Notices to All of its 1,926 Teachers


March 5th, 2011


If anyone believes the liberal media whenever it tries to push the idea that a recovery is underway, they should ask themselves: Why is Providence sending dismissal notices to all its teachers?

The Providence Journal reports: “The [Providence, Rhode Island] school district plans to send out dismissal notices to every one of its 1,926 teachers, an unprecedented move that has union leaders up in arms. In a letter sent to all teachers Tuesday, Supt. Tom Brady wrote that the Providence School Board on Thursday will vote on a resolution to dismiss every teacher, effective the last day of school. In an e-mail sent to all teachers and School Department staff, Brady said, ‘We are forced to take this precautionary action by the March 1 deadline given the dire budget outline for the 2011-2012 school year in which we are projecting a near $40 million deficit for the district,’ Brady wrote.”

Where the devil has all this money for schools been going for the past 30 years? I thought legalized state lotteries were supposed to solve these problems, not to mention the yearly extortion, known as property taxes? I know, in a general way, where the money has gone. It’s gone to pay interest on previous borrowing into the hands of Jewish bankers, and it’s also going to grossly overpaid and incompetent teachers from the NEA, an adjunct of the Democrat party, but still, how did this happen? How did these idiots allow things to fall apart this badly?

The article notes “Since the full extent of the potential cuts to the school budget have yet to be determined, issuing a dismissal letter to all teachers was necessary to give the mayor, the School Board and the district maximum flexibility to consider every cost savings option, including reductions in staff. State law requires that teachers be notified about potential changes to their employment status by March 1.”

What they’ve done is formally send notices to fire all of them, so they can ultimately fire as many as necessary. The unions in California require months of advance notice before a teacher can be fired. Another possible reason is that they are trying to panic the public into voting some horrendous tax increase on themselves.
Then the question becomes, as short on teachers as they will be, how many schools will Providence have to close? Detroit is closing half of its public schools.

How many of the remaining students in the Providence city schools are White? In other words, are forty years of Democrat policies doing any actual harm to White kids yet? In Detroit it doesn’t matter since the student body is virtually all black. How much actual damage will this do?

Oh by the way–Providence is a “sanctuary city” for illegal aliens. So how many of those who suffer from Democrat policies shouldn’t be here at all, in the first place?

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ILLINOIS CLOSING STATE-RUN DRUG AND ALCOHOL TREATMENT CENTERS

ILLINOIS CLOSING STATE-RUN DRUG AND ALCOHOL TREATMENT CENTERS


The Obama regime just claimed a drop in unemployment. Well, that comes as truly unbelievable news to several states teetering on the edge of bankruptcy.

A long-time front runner in the state bankruptcy stakes is Illinois. According to the British Daily Mail “Tens of thousands of Illinois residents are expected to be affected when drug and alcohol treatment and prevention centres across the state have their budgets cut from March 15. The harsh budget cuts, proposed by Illinois governor Pat Quinn, who is a Democrat, will mean that from next month, all state funding will be cut. After that date, only federal (national) Medicaid dollars will be available to fund the state’s drug and alcohol treatment and prevention programmes, which means that some centres are facing closure.”

Isn’t Medicaid being phased out now in favor of Obamacare? You know, the program that at least two federal judges have declared un-Constitutional?

The Daily Mail notes “Talking to the News-Gazette, which serves East Central Illinois, Sara Howe, CEO of the Illinois Alcoholism and Drug Dependence Association said: ’80 per cent of our clients on March 15 would be thrown out of care.’ That adds up to around 55,000 people who will lose their help battling drugs.”

The only people getting drug treatment in Illinois will be the upper class, who can afford this. Perhaps, Illinois will just rip up the person’s license and confiscate the car in the future.

Once again, folks, here’s what’s happening: the Blue States (i.e. those controlled by Democrats and with lots of non-Whites) are just plain running out of money, as in there ain’t no more.

Drug treatment programs are a long-time liberal boondoggle Most drug addicts are non-White, and through these programs they get all kinds of goodies like food, medicine and sometimes cash without having to work for it. In addition, the staff of these places are largely lefty-liberal “do-gooders” who cash in at taxpayer’s expense to deal with a “problem” that liberals and their diversity created to begin with.

When the country was 90 percent White and ruled by conservative White males, say a hundred years ago, there was no drug problem.

Who really cares if 55,000 more black and Latino drug addicts are turned loose on the streets of Rahm Emanuel’s Chicago? The city is a write-off anyway and has been for a generation. Let it turn into another Detroit. Maybe that will wake up people to racial reality.

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Heavily Black Camden to Lay Off Half its Police

Heavily Black Camden to Lay Off Half its Police

March 7th, 2011


The black population of one of the worst pest-holes in America is gearing up for carnival time. Camden, New Jersey is laying off half of its police force and firefighters. There’ll be a hot time in the old town tonight!

CBS reports that “Camden City Council, as expected, voted Thursday to lay off almost 400 workers, half of them police officers and firefighters, to bridge a $26.5 million deficit. That’s about a quarter of the city’s entire work force. Five members of City Council voted unanimously to approve the layoff plan — two other members were (conveniently) absent. The cuts take effect in mid-January. Exactly how many city workers will be affected is still an open question, although nearly half the city’s police and a third of the firefighters are slated to go…After the vote, council members and Camden Mayor Dana Redd avoided reporters by going into their offices.”

They all probably fled the city with their families that same night. Seriously though, how much are White people being taxed to provide police and ambulance service for black neighborhoods all over America? Third World people don’t produce enough tax revenue for modern, First World services and the money has to come from somewhere.

Given that the population of Camden is largely black, I think we can imagine how losing half the police force will work out. Oh, I imagine the New Jersey governor will try to patch things over by sending in extra Highway Patrol and police from other jurisdictions, but what about when they go down? What about when the entire mob-and-corruption-ridden state of New Jersey goes bankrupt?

Slowly but surely, the great multi-cultural rubbish heap that is urban America is beginning to collapse. Cities will go first (Chicago is apparently neck and neck with Los Angeles to see which metropolis will go bankrupt first) and then the major blue states will go under. California has a commanding lead; there has been talk of busting 200,000 state workers down to minimum wage and borrowing $40 million per day to pay welfare alone. Will the last productive White person out of California please turn out the lights?

The pressure on the Obama regime to “solve” the problem by printing more money will become irresistible over the next few weeks and months, and already three trillion dollars of Obama inflation dollars have been injected into the system through what is euphemistically referred to as “quantitative easing” (aka “running the presses”).

In the meantime, of course, the city of Camden will probably have been burned down by rioting, looting blacks.

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Detroit Ordered to Close Half its Public Schools

Detroit Ordered to Close Half its Public Schools

March 3rd, 2011

by Jeff Davis

Looks like Michigan may beat California and Illinois in the Great Whitewater Rafting Race down the financial toilet bowl. The Detroit News reports: “State education officials have ordered Robert Bobb to immediately implement a financial restructuring plan that balances the district’s books by closing half of its schools, swelling high school class sizes to 60 students and consolidating operations. This week, Bobb, the district’s emergency financial manager, said he is meeting with Detroit city officials and will set up a meeting with Wayne County Regional Educational Service Agency to discuss consolidation opportunities in areas such as finance, public safety, transportation and other areas. Bobb also is preparing a list of recommended school closures and Friday said layoff discussions are under way and would be announced closer to April, when notices would be issued.”

It really doesn’t matter if this happens in Detroit, since Detroit is all black and part of the Third World. It doesn’t matter whether you have 20, 40, or 60 garden variety blacks in a classroom. None of them are going to learn anything anyway.

What’s interesting is that what is happening in Detroit is now beginning to happen elsewhere around the country, finally. These huge Democrat-run cities and states are beginning to just plain run out of money. As in there isn’t any more.

At what point will the financially collapsing blue states turn to Obama and demand he cobble together some plan to take money from the Red states which still are financially solvent, like Virginia and Texas, in order to pay for their massive minority handouts and bloated civil service union pensions? California has been begging the Feds for money already. The liberals don’t want states choosing between bankruptcy and slashing pay to the state union workers (or -gasp- deporting the illegal aliens).

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IS THE WORLD BROKE? EUROPE’S MEDIA WARN OF GLOBAL SOCIAL UNREST

IS THE WORLD BROKE? EUROPE’S MEDIA WARN OF GLOBAL SOCIAL UNREST

It isn’t just a European problem. Spending in the U.S. threatens to leverage the domestic economy so much that it faces, within just a few years, a debt level that represents the country’s entire gross domestic product. And, since the U.S. is a relatively strong world economy, even with unemployment near 10% and uneven signs of recovery, American taxpayers have been forced to dig deep to help out the rest of the world.


As the global recession continues to ravage industry and employment throughout Europe, the likelihood of social unrest across the continent is increasing, with France today (29 January) experiencing its first mass strike for months.


According to the International Labour Organisation, the global economic crisis will push 18-30 million people out of the job market, while if the situation deteriorates further, up to 50 million workers will lose their jobs in 2009.

Outbreaks of social unrest have occurred in both Western Europe (Iceland) and Eastern Europe (Bulgaria, Greece, Latvia and Lithuania) in recent weeks, while in France today, a massive general strike will herald the first major incident in a ‘big’ EU country.

The first major test faced by a ’big’ EU country in 2009 comes as France is brought to a standstill by a general strike against President Nicolas Sarkozy’s proposed economic reforms.

Eight of the country’s leading trade unions will participate, spurred on by high levels of support among French voters: almost 70% are sympathetic towards the protests, according to a CSA poll.

Ronald Janssen, an economist at the European Trade Union Confederation (ETUC), told EurActiv that social unrest across Europe will “intensify” and is likely to mushroom into an “explosion” as the economic crisis escalates, because “not only will job losses continue, increasing unemployment, but a lot of social advantages will be attacked by employers saying ‘if you want to keep your job, you will have to accept a cut in wages or benefits’”.

As Iceland goes, so goes Europe?

Icelandic Prime Minister Geir Haarde this week became the first European leader to lose his job as a direct result of the economic crisis. The collapse of Haarde’s government was precipitated by weeks of angry protests in Reykjavik, including the burning of effigies of the prime minister outside parliament. Before being ousted, Haarde had expressed fears that the economic crisis would lead to a political one.

In fact, Iceland may well be the weathervane that points the way towards a troubled 2009. Marko Papic, a geopolitical analyst at Stratfor, argued that “in terms of perception, Iceland is like a canary in the mineshaft. It tells us how bad things can get in the rest of Europe”.

Indeed, following last year’s tumultuous riots in Greece (EurActiv 11/12/08), early 2009 has continued in the same vein, with anti-government riots having taken place in Bulgaria, Latvia and Lithuania so far as social unrest grows. Dominique Strauss-Kahn, president of the International Monetary Fund, warned in late 2008 that “social unrest may happen in many countries, including advanced economies,” as a result of the crisis.

Moreover, Papic points out that “there are a number of elections coming up in Europe [in 2009]: in Slovakia, Lithuania, Bulgaria, the Ukraine, and of course – Germany. These countries will have to run their campaigns amidst economic collapse, therefore whatever social unrest there is will be highlighted and increased”.

Social Europe: Coming apart at the seams?

The worst-case scenario, argues ETUC’s Janssen, could see an “explosion of public unrest” and a de facto collapse of the European social model as we know it.

“There’s a big scandal of which awareness is brewing: governments are now trying to save banks through injecting capital and save companies by giving credit guarantees, and this will translate into higher public deficits,” he said.

This in turn, he argued, will lead to pressure from the European Commission, the OECD and economists generally. “This is not sustainable for public finances, so you have to cut social security, which will lead to an attack on social Europe,” the ETUC economist said.

People will come to realise, claims Janssen, that in fact they are paying the bill for the excesses of banks and corporate CEO bonus systems.

As a result, the combined effects of mass unemployment, collapsing social security systems and heightening social unrest could herald a “major collapse”: “It might be the case, I fear, that the European social model is unravelling,” the economist concluded.

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EUROPE’S MEDIA WARN OF GLOBAL SOCIAL UNREST

EUROPE’S MEDIA WARN OF GLOBAL SOCIAL UNREST


When Karl Marx wrote in the Communist Manifesto that “a spectre is haunting Europe,” he did so on the eve of the revolutionary eruptions that began in Italy and France in 1848 and engulfed much of the European continent.

In recent days, a number of media commentaries have predicted a similar eruption of social unrest of revolutionary dimensions as a direct result of the worsening economic crisis. These warnings are accompanied by dire predictions that Europe will suffer the return of nationalist tensions, the emergence of fascist movements and even war.

Writing in the Financial Times May 24, for example, historian Simon Schama stated, “Far be it for me to make a dicey situation dicier but you can’t smell the sulphur in the air right now and not think we might be on the threshold of an age of rage.… in Europe and America there is a distinct possibility of a long hot summer of social umbrage.”

Schama notes that there is often a “time-lag between the onset of economic disaster and the accumulation of social fury,” but after an initial period of “fearful disorientation,” there comes the danger of the “organised mobilisation of outrage.”

This outrage will be directed against the super-rich and those seen to be responsible for the crisis, he writes, comparing “our own plutocrats” with the financiers so memorably targeted during the French Revolution of 1789 as “rich egoists.”

In the Observer of May 30, Will Hutton, its former editor and now an advisor to the British Conservative-Liberal Democrat coalition government on cutting public sector pay, declares, “The future of Europe is in the balance. The potential disintegration of the euro will be a first-order economic and political disaster. Economically, it will plunge Europe into competitive devaluations, debt defaults, bank bailouts, frozen credit flows, trade protection and prolonged stagnation. Politically, whatever resolve there is to hold our disparate continent together, where the old enmities and suspicions are never far from the surface, will evaporate.… What will emerge will be a Europe closer to the 1930s. Fearful, stagnant and prey to vicious racist and nationalist ideologies.”

By far, the most apocalyptic warning of what is to come was made by Deutsche Welle, Germany’s international broadcaster, on May 26. Its article begins by returning to the warnings made in 2008 of the impact of the global economic collapse by United Nations Secretary General Ban Ki-moon, IMF head Dominique Strauss-Kahn and Robert Zoellick, head of the World Bank. Strauss-Kahn had, for example, warned that “social unrest may happen in many countries—including advanced economies.”

Deutsche Welle writes that these warnings are “closer today than at any other time since this current financial crisis—the worst since 1929—began.”

Citing the demonstrations by hundreds of thousands in Greece, it warns that the same fate can engulf “financially fragile European governments like Spain, Portugal and Italy” and that “nations all around the world are concerned about rising social discontent.”

“There is a feeling among experts that the deep anger brewing in these countries is fermenting worldwide against the same institutions, the same people, and the failure of global capitalism,” the report continues.

It cites how the US director of national intelligence, Dennis C. Blair, warned the Senate Intelligence Committee of a continued economic crisis “increasing the risk of regime-threatening instability,” from which “the United States would not be immune.”

Deutsche Welle concludes with comments by Marie-Hélène Caillol, the president of the European Laboratory of Political Anticipation think-tank, and Gerald Celente, the financial and political trends forecaster and publisher of the Trends journal.

Celente explains, “What’s happening in Greece will spread worldwide as economies decline.… We will see social unrest growing in all nations which are facing sovereign debt crisis, the most obvious being Spain, Ireland, Portugal, Italy, Iceland, the Ukraine, Hungary, followed by the United Kingdom and the United States.”

Calliol states, “This crisis is directly connected to the end of the world order as we know it since 1945—and even earlier since the European colonisation process. Therefore, the whole global fabric centred on the US for 60 years is slowly collapsing, generating turmoil of all sorts.”

Asked where social unrest will end, she replies, “War. It’s as simple and as horrifying as that.”
Both Calliol and Celente reject claims that agitators are behind the wave of social unrest.

“There are no organisations behind this response—it’s a public response,” said Celente, who also invokes Marx’s monumental work. “This is a 21st century rendition of the ‘workers of the world unite.’ The people are fully aware of the enormous bailout going to the ‘too big to fail’s’ that they are being forced to pay for. The higher the taxes go, the more jobs that are lost, the greater the levels of protest.”

Such statements demonstrate how seriously Europe’s rulers take the growing danger of social revolution on the continent. That is what their advisors are telling them is the inevitable product of the worsening economic crisis. But this is made all the more certain by their own efforts to place the entire burden on the backs of working people in the interests of the major banks and corporations—in the process setting out to destroy what remains of the welfare measures and working conditions previously won by workers.

The ruling classes of Europe are preparing for the emergence of mass working class struggles through the promotion of various middle-class fake-left organisations to prevent the development of socialist consciousness and block the political independence of the working class—the New Anti-Capitalist Party in France, the Left Party in Germany, Syriza in Greece, etc. They are also preparing for the use of mass state repression and the introduction of dictatorial forms of rule.

The advantage presently enjoyed by the ruling class is that the working class does not have the required socialist and revolutionary perspective and leadership to mount its own counter-offensive. Instead, those organisations falsely designated as representing the workers—above all the trade unions—act as a fifth column of big business.

Whether they organise their various one-day protest strikes, such as in Greece, Portugal, Italy and Spain, or do nothing at all like Britain’s Trades Union Congress, the unions function as instruments for imposing austerity measures and cuts through the deliberate suppression and containment of the class struggle. They work hand-in-glove with the employers and governments, whether these are their formally social democratic counterparts or the archest of conservative administrations.

In the end, this will only ensure that the emerging class struggle will pass over these organisations like a tidal wave. The World Socialist Web Site shares the prognosis outlined so well by Trotsky in the Transitional Programme: “The orientation of the masses is determined first by the objective conditions of decaying capitalism, and second, by the treacherous politics of the old workers’ organisations. Of these factors, the first, of course, is the decisive one: the laws of history are stronger than the bureaucratic apparatus.”

Far from a source of complacency or fatalism, this prognosis underscores the crucial question of revolutionary leadership. The indispensable instrument for closing the gap between the revolutionary implications of the world crisis and the present level of working class consciousness is the Marxist party. Those who see the need for a socialist alternative should make the decision to join and build the Socialist Equality Party.

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BEARISH ON AMERICA

BEARISH ON AMERICA


Apparently the “recovery” is largely a media hoax, and things are so fragile we could soon experience another stock market crash.

CNBC reports: “In an unprecedented move, the number of investors fearing a catastrophic stock market crash is rising even with the stock market at 2 ½ year highs. The unusual dislocation comes from two distinct reasons: a lack of trust in the U.S. financial markets following the so-called Flash Crash last May and the collapse of Lehman Brothers in 2007. This means the Flash Crash Advisory Commission that met on Friday has a long way to go in restoring confidence to the point that will bring the individual investor back into a market still ruled by high frequency trading, exchange-traded funds and leveraged hedge funds.”

The recent market rise makes very little sense. Real unemployment is still around 20 percent. Most people are worried that they might be laid off, and people, who think like that don’t spend much money. The US economy is 70 percent driven by consumer spending, and that continues to be anaemic.

Back to CNBC: “The Yale School of Management since 1989 has asked wealthy individual investors monthly to give the probability of a catastrophic stock market crash in the U.S. in the next six months. In the latest survey in December, almost 75 percent of respondents gave it at least a 10 percent chance of happening. That’s up from 68 percent who gave it a 10 percent probability last April, just before the events of May 6, 2010. In the past, fears of a stock market crash in the Yale survey rose as the market declined because investors lost confidence in the economy and companies as share prices declined, and expected a capitulatory end to a bear market. For example, in March 2009 close to 85 percent of investors gave a crash at least a 10 percent chance of occurring. That record high in distrust and low in confidence marked a 12-½ year low in the S&P 500. The benchmark has doubled since that low, but investors are not worrying about the prospects for individual stocks as much now. Instead they are worrying about the still-unchanged system set up by Wall Street and regulators in which equities trade. The Flash Crash Commission – containing members of the CFTC and SEC – made a series of recommendations for improving market structure…”

The Wall Street crowd is worried about another crash because all they’re trading now is paper, not shares in any kind of productive enterprise. All of those have been exported to China and India. The economy is now running at 20 percent real unemployment, which means that actual economic productivity in the U.S.A. has virtually ceased, and everyone is simply concentrating on keeping the lifeboat afloat.

This means a lot less private money for investment in the market. Ten years ago, millions of Americans dabbled in online day trading and boasted that they had a “portfolio.” Nowadays many amateur investors have pulled all their money out of the market, and they’re buying canned food to feed their families as well as desperately trying to keep up with their mortgage payments so they don’t end up living under a bridge.

There is new money in the market, namely the hundreds of billions of dollars that Ben Bernanke and Barack Obama have printed under what they call “quantitative easing,” inflated funny money which has lowered the dollar’s worth and is now beginning to create noticeable inflation.

The apparent rise in the stock market over the past two years in terms of share volume and cash traded is due to the fact that there is more printed paper available to trade in the form of both certificates and financial instruments with pretty seals and engraving, and nice fresh green $100 bills, both of which are still wet off the printing press. This was the intention of the money-printing to begin with, to pump up the market and prevent a full crash.

A lot of Americans still deposit a portion of their pay checks into retirement accounts that go into mutual funds (which means a variety of blue chip stocks). The only reason they’re still doing this is because interest rates for savings accounts and bonds have plunged. The moment the Market starts to get shaky, millions of Americans will switch from stocks to bonds, and the Market will see an exodus of investors, which will lead to a major crash (assuming the initial big crash doesn’t happen all in one day).

Maybe this time when the market crashes, we will see some of these yuppies in $5,000 suits jumping off tall buildings just like in the 1929 Crash.

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