Some headlines that blipped on my screen this morning are in bold below and my commentary follows:
* Expectations of Aid for Ireland Lift Global Markets
The bailout was never in doubt. The only people who thought that Ireland's "debt crisis" would be allowed to create another contagion were the amateurs. The patzers. The ones who haven't a clue as to how the game is played.
* Foreclosure class actions pile up against banks
Noise. Someone turn it off already. Stop feeding the lawyers, stop borrowing against your home equity, stop the greed, stop the handouts, stop the bailouts, and definitely stop the blame. All this is noise though. Just another distraction to keep the money in play.
* GM is back: Good news for taxpayers, investors
Whomever wrote this headline shouldn't be in the news business. I'm talking about the real news business and not the business of misdirection, thought control, and utter stupidity ('ello, Huffington Post). GM isn't good for taxpayers - GM swallowed up $50 billion in aid and the IPO is going to net about half that. The government gets the proceeds of those shares they're selling and none of it is going to taxpayers. So, how is this "good news" for taxpayers or is the headline writer just blowing smoke? As for investors, okay sure GM provides another mindless trading stock to play but it's not an investment. It's all noise though. Just another distraction to keep the money in play. See the theme here?
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