USA - The Bastion of Socialism, for the rich.

Corporate Welfare

...Worse Than You Could Have Imagined

Was anybody wondering how the DJIA miraculously rose by nearly 900 points yesterday on the news of the lowest consumer confidence results since that benchmark has been measured? It just doesn't make any sense unless there's some serious market manipulation going on. I asked myself what was happening and ran into something called the PPT, an entity whose very existence confirms some of my worst fears about how the world works.

Unlike Wikipedia, this extremely persuasive article from WebofDebt.com makes no bones about what is really going on in the markets. Note that it was published last Saturday, before the inexplicable Dow Jones Miracle occurred. The author, Ellen Brown, was responding to the fact that Wall Street somehow managed to weather the storm relatively speaking on Friday after "Japan’s Nikkei stock average fell nearly 10% during the [previous] night, Hong Kong’s Hang Seng fell 8%, and Germany’s and Britain’s fell 5%".

Quote:

THE NOT-SO-INVISIBLE HAND:
HOW THE PLUNGE PROTECTION TEAM
KILLED THE FREE MARKET

Ellen Brown, October 25th, 2008
http://www.webofdebt.com/articles/manipulation.php

“We’re now no different from any of those Western European semi-socialist welfare states that we love to deride. Italy? Sure, it’s had four governments since last Thursday, but none of them would have allowed this to go on; the Italians know how to rig an economy.”

" Bill Saporito, “How We Became the United States of France,” Time (September 21, 2008)