Well, a couple thoughts traversed my old pappy’s withered noodle whilst he was attempting to comprehend our wonderful digital age. After we finally posted our little diatribe on the Financial Sector last week, it occurred to us that we’d omitted a really cute and and hilarious development called alternative currency, more specifically Bitcoins.
This digital “currency” really represents the epitome of the madness in today’s financial markets. Bitcoins came into the general consciousness a couple of years ago, and at the end of November, 2012, a bitcoin was valued at 12.57 US Dollars. One year later one of the amazing quasi-coins was worth 1,226,82 USD. Then one of the Bitcoin market makers went bankrupt and their value dropped down in the $500 range. Currently, they are trading somewhere under $400. This sort of gyrating volatility has the tendency to make Wall Street antics seem almost sane. The Bitcoin Foundation is currently lobbying in Washington to have someone devise a faux-regulatory environment for their cute little coins, and maybe even allow them to be used for financing political campaigns!
Then, we have that staid old institution, the Supreme Court deciding in “Citizens United” (what citizens?) that Corporations are just big, not very pretty people and should be allowed to spend any sums they like on political campaigns. That not engendering sufficient turmoil, they more recently, in a people empowerment mood, decided that individuals should likewise be allowed to donate unlimited sums of money to politicians seeking gainful employment as your faithful representatives. Gosh, in a way all this extra “empowerment” seems a bit of overkill as we already have the very best politicians that money can buy!
Pappy and I don’t know just how all the extra moola will effect elections, but you can bet your sweet bippy if you are a 99%’er that you will not benefit in any way. Not unless you are prone to believe the old saying that “every cloud contains a silver lining.” (There’s another throwback to the Great Depression).
As we near November, at least the 1%‘ers will be putting some of their billions back to work helping the poor old economy. That is if you can consider really ugly campaign ads on the telly as “helping the economy.” Of course, it will put a lot of actors to work purportedly as regular citizens griping about the current administration. We in the silent majority might even entertain ourselves with those little wagering pools such as in “March Madness,” trying to pick which one of our cheerful oligarchs can run the meanest, most preposterously fraudulent, and costliest ad. We could even run pools each week from now until November, and then have a Superbowl sort of pool with all past weekly winners the week before elections.
Read the Buster Blog and educate yourself, it won’t hurt as much as you think. Or, read it in bed, you’ll be in Dreamland before you know it!!!
Sorry, my bad, I was a little optimistic on that spring thingy, but it’s here now so enjoy!