Wall Street WARZONE
America’s ‘Outrageous War Economy!’ Yes, We Love War, Even When The Pentagon Can’t Find $2.3 Trillion, Keeps Wasting Trillions More on “National Defense”
by Paul B Farrell, JD, PhD
| Discuss | Print | 8/7/2010

Yes, America’s economy is a war economy. Not a “manufacturing” economy. Not an “agricultural” economy. Nor a “service” economy. Not even a “consumer” economy. Seriously, I looked into your eyes, America, saw deep into your soul. So let’s get honest and officially call it “America’s Outrageous War Economy.” We spend over half our tax dollars on war. So admit it, we love our war economy. And that’s the answer to Jim Grant’s thought-provoking question in The Journal: “Why No Outrage?”

There really is only one answer : Deep inside we love war. We want war. Need it. Relish it. Thrive on war. War is in our genes, deep in our DNA. War excites our economic brain. War drives our entrepreneurial spirit. War thrills the American soul. Oh just admit it, we have a love affair with war. We love the “America’s Outrageous War Economy.”

That’s the only rational, honest answer to James Grant’s probing question in The Journal: “Why No Outrage?” Americans passively zone-out playing video war games. We nod at ninety-second news clips of Afghan war casualties and collateral damage in Baghdad. We laugh at Jon Stewart’s dark-comedic news and Ben Stiller’s new war spoof Tropic Thunder … all the while silently, by default, we’re cheering on our leaders as they aggressively expand “America’s Outrageous War Economy,” a relentless machine that needs a steady diet of war-after-war, feeding on itself, consuming our values, always on the edge of self-destruction. Yes, there is “No Outrage.” Why? Admit it, because we secretly love war …

· Why else are Americans so eager and willing to surrender 54% of our tax dollars to a war machine, which consumes 47% of the world’s total military budgets?
· Why are there more civilian mercenaries working for no-bid private war contractors than the total number of enlisted military in Iraq (180,000 to 160,000), at an added cost to taxpayers in excess of $200 billion and climbing daily?
· Why do we shake our collective heads “yes” when our commander-in-chief proudly tells us he is a “war president;” and his party’s presidential candidate chants “bomb, bomb, bomb Iran,” as if “war” is a celebrity hit song?
· Why do our spineless Democrats let an incompetent, blundering executive branch hide hundreds of billions of war costs in sneaky “supplemental appropriations” that are more crooked than Enron’s off-balance-sheet deals?
· Why have Washington’s 537 elected leaders turned the governance of the American economy over to 42,000 greedy self-interest lobbyists?
· And why earlier this year did our “support-our-troops” War President resist a new GI Bill because, as he said, his military might quit and go to college, rather than reenlistment in his war; now we continue paying the Pentagon’s warriors huge $100,000-plus bonuses to re-up so they can keep expanding “America’s Outrageous War Economy?” Why? Because we secretly love war!

Truth is, we’ve lost our moral compass: The contrast between today’s leaders and the 56 signers of the Declaration of Independence in 1776 shocks our conscience. Today war greed trumps morals. During the Revolutionary War our leaders risked their lives and fortunes, many lost both. Today it’s the opposite: Too often our leaders’ main goal is not public service but a ticket to building a personal fortune in the new “America’s Outrageous War Economy,” often by simply becoming a high-priced lobbyist. (More)

Male Investor’s Brain: Warning, Four Secret Saboteurs Are Handicapping Your Investment Portfolio, Then Stealing Your Profits (and Maybe Your Heart Too)!
by Paul B Farrell, JD, PhD
| Discuss | Print | 5/6/2010

Are ghosts-of-the-past making your decisions for you? A new profession of investment psychologists has evolved working with market traders who’ve lost their edge. The goal, help them dig into their subconscious mind and uncover any secret biases and motivations that may be undermining their performance, sabotaging their decision-making, resulting in economic losses, and even causing addictive and obsessive compulsive gambling behavior. Unfortunately, our experience is that while therapy may help professional traders and other Wall Street insiders become “less irrational” and increase their effectiveness playing the game, behavioral therapy is virtually useless in helping individual investors compete and beat professionals. Therapy can, however, help the average Main Street investor let go of the irrational need to try beating Wall Street at its own game, inside its own casino.”

A Freudian slip is when you say one thing but mean your mother.” Think about that, then ask yourself: “What’s psychology got to do with how you invest?” Far more than you imagine! And it’s worse for the guys, who make up the bulk of day-traders. Be forewarned, you are stepping onto an emotional landmine if you read further: Because “mommy” may be the biggest handicap for most hot-shot male investors.

And unfortunately, most the time male traders don’t even know they’re being controlled by these ghosts from the past. They are clueless, in denial and as a result, they not only dismiss the suggestion, but get angry if we bring it up. Why? Because this requires admitting they are still, emotionally a child, and their macho exterior is a disguise. A harsh assessment? Yes. But if reading this makes you feel defensive, there’s more than a grain of truth in it. (More)