Wall Street WARZONE
Global Economy Won’t Recover in 2011, Not by 2020. Not Never! Yale Scholar Warns Capitalism is Dying, Fast, Taking Down Global Economy With It!
by Paul B Farrell, JD, PhD
| Discuss | Print | 2/1/2011

Warning, you’re being conned, again! Wall Street pundits tell us the next recovery’s on track, in the early stages, moving along nicely.

So start investing, trading, betting on stocks, bonds, etfs, commodities. At least that’s what those crafty Wall Street gamblers want you to think. Yes, the same million dollar bonus babies whose hi-risk bets triggered the 2008 meltdown.

Wrong. Bad advice. Don’t listen. Americans lost over 50% after the 2008 meltdown, next one will be far worse.

Not only won’t the economy recover soon, Yale’s Immanuel Wallerstein, the leading scholar on “world systems” analysis, says the global economy will never recover. Yes, never.

The conventional wisdom says markets and economies move in cycles, ”upturns always occur after downturns.” Wallerstein warns: “All systems have lives … the capitalist world-economy has been in existence for some 500 years … functioned remarkably well. But … it has moved too far from equilibrium … in structural crisis. The only sure thing is that the present system cannot continue. The fundamental political struggle is over what kind of system will replace capitalism, not whether it should survive.” 

Capitalism is dying. Don’t say you weren’t warned. (For the complete Wallerstein article see Foreign Policy)

16 Reasons Even the Best Talking Heads Are Usually Wrong! And Don’t Even Know It Till It’s Too Late! Trust the Financial News Media? You’ll Lose!
by Paul B Farrell, JD, PhD
| Discuss | Print | 5/17/2010

Cable channels are Wall Street’s newest pushers, spinning, hyping and brainwashing anxious investors, feeding their addiction to financial news. In fact, studies prove that in many brains, America’s news delivery system can be as addictive as booze and coke. According to my analysis the average person may be exposed to as many as 48,000 financial recommendations annually—stocks, bonds, funds, commodities, plus economic reports—two hundred-plus a day, a process intended to re-program the investor’s brain toward short-term thinking and immediate gratification, away from broad-based long-term planning.

“One of the most salient features of our culture is that there is so much bullshit,” writes Princeton Professor Harry Frankfurt in his mega-bestseller, On Bullshit. Generally speaking, “bullshit” is any incorrect, confusing or false statements intended mislead. Yes, mislead. Do you see the paradox? Wall Street is built on bullshit, it is their official language. Want proof? The most obvious is the fact that Wall Street analysts scream “buy” about 95% of the time. They’re born bullshit artists! And it never stops, Wall Street talks with an endless stream of bullshit in both bull and bear market cycles.  Wall Street is addicted to its own bullshit, it’s in their genes. (More)