Even after the bad-mortgage-fueled financial collapse of 2008, after all the political and media wrangling over ‘who’s to blame?’, even after that, the banks and their financially-predatory cousins are STILL on the make, STILL sending out ads for credit cards and refinancing. These arrive in bunches at my door every day and invariably claim “pre-approval”, which is not true at all. I applied for one of these “pre-approved” credit cards and – being already a vicitim of family and personal financial illiteracy – had my “pre-approved” card denied on the basis of an unsound financial report. If I was financially unsound, how was I ever “pre-approved”? The answer, of course, is that the advertising was purely a lie and a bait-&-switch tactic on the part of the crocodile-like “lenders”.
Why are they still soliciting people to undertake bad loans and credit card accounts at BAD, bad interest rates? It’s relentless and infuriating – positive effort by the banking thieves to re-create the bubble that popped in 2008.
High-level finance, having years ago undertaken all their “new financial products” and scam tactics to match, did “bloom” for many years, and then – correspondingly – wither and crash. Alas, it did not die. The swindlers are alive and kicking and bathing in the glow of a Republican-Tea Party captialist mania.
But the mania of capital & finance – that is, swindling and speculation – is not limited to the USA. Not only here but all around the world – Japan, Iceland, etc., arcane, secret and irresponsible bookkeeping and banks’ “lending products” have piled credit upon credit, and deceit upon deceit, to provide bigger profits to the master thieves. The “creative” financing of the times, the retro-recursive-forward-resale-retail-inverse-subprime-default-swapping leger-de-main of the times, has made many slick, grinning, hyperactive buffoons into irresponsible tycoons and thereby sold the whole world on the idea of speculation and pyramid-scheming as the common answer to Adam’s Curse. The whole industry should share Bernie Madoff’s jail cell.
Phew. Maybe Obama should’ve just let the American economy sink altogether; maybe that might’ve given us a breather – in a hard, miserable, depression-era sense. Nothing else in the way of Reason seems to get through to the abusive aliens of the banking world.