The Great Depression Online

Great Depression Online Archive Issue:

Unloading the Haymakers

Great Depression Online
Phoenix, AZ
April 03, 2009

Inside This Issue You Will Discover…

*** Taking to the Streets
*** Get Me Out of Here
*** Unloading the Haymakers
*** And More

Taking to the Streets

What a rapid fall from grace it has been for bankers?  As the economy tanked, so did their status.  Just last year they were masters of the universe…now they are everyone’s scapegoat.  That they were ever esteemed is what we find remarkable. 

And now that they’re being kicked to the curb, we almost feel sorry for the hacks.  They had it so good for so long…making a killing pushing other people’s money around.  Now they’ll have to earn their money by actually producing something…which as they’ll soon find, is not nearly as lucrative.

Still we find no reason to get worked up and take to the streets over it.  But this week, that’s exactly what protestors did.  They took to the streets of London…twice.  First for the ‘Financial Fools Day’ protest outside the Bank of England, then on Thursday, outside the G20 summit conference center.

“I’ve come here today so we can engage in a peaceful protest and vent our anger against the greed of the financial institutions,” said Annabel Action, a 25 year old consultant.  “They are dealers in death and intent on oppressing us.”

~~~~~~Inflation vs. Deflation~~~~~~

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“Some protesters blew whistles and banged on drums, while others carried signs reading ‘abolish money,’ and ‘capitalism kills,’” reported Bloomberg.  “They hung a banker in effigy from traffic lights and scrawled ‘built on blood’ on the wall of the central bank.”

Alas, one guy should have stayed home.  For he got so worked up protesting the ‘dealers of death’, he stopped breathing.  Medics tried to revive him, but it was futile, “he was pronounced dead on arrival at the hospital.  No cause of death was given.”

Get Me Out of Here

Those expecting something substantive to come out of the G20 summit were predictably disappointed.  After all the hoopla, geopolitical posturing, and finger pointing over the last week, nothing much came of it.

As far as we gather, the G20 nations pledged to give more money to the IMF, and tighten the screws on tax havens and hedge funds.  Still it was hailed as the beginning of a new world order…

“It’s the passing of an era,” said Robert Hormats, vice chairman of Goldman Sachs.  “The U.S. is becoming less dominant while other nations are gaining influence.”

A very keen observation indeed…only fifteen years late.

And here’s a brain tickling line of oratory guff from the Commander and Chief, Barack Obama: “In a world that is as complex as it is, it is very important for us to be able to forge partnerships as opposed to simply dictate solutions.”

Translation: I’ll tell you whatever you want to hear…just get me out of here.

Unloading the Haymakers

Travels have taken us to the Valley of the Sun.  We were volunteered to attend and participate in a seminar on ‘business capture strategies’.  Like most subjects, of this we know nothing…we’re not quite even sure what this means.

And after one speakers presentation on various interrogation techniques for ‘mining nuggets’ of information from potential clients on ‘what keeps them up at night,’ we’re quite sure…we haven’t a clue what this means.

Still we’ve never let lack of knowledge stop us from making hay. 

Our turn to speak comes this afternoon.  And we’ve specially prepared a couple of haymakers to unload on the attendees.  We suppose these will either win us the grand prize…or, perhaps, an abrupt escort out the side exit.

Regardless, we’ll have some fun with it.


M.N. Gordon
Great Depression Online

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