‘We are Wall Street’: No, you’re a walnut

Wednesday 19 September 2012, 12.30am HKT


Click image for larger picture

Wall Street’s rejoinder to Occupy Wall Street protestors

This image of a Wall Street guy’s retort has become a famous Internet meme. We wouldn’t expect anything less from a Wall Street guy, no less.

Now that Quantitative Easing 3 (‘QE3’) is in the offing and our world looks set to completely implode on itself, we need to answer back to this.

(For those who didn’t get the memo, the U.S. Federal Reserve Bank announced QE3 a few days ago. QE3 will involve the Fed in open-ended purchase of long-term, mortgage-backed securities at the rate of US$40 billion a month (that’s 40,000 million dollars to you Brits) of mortgage debt. The rationale behind QE3 is to boost economic growth and reduce unemployment.)

What a sharply retarded pile of wrong this is.

.

Let’s really spell it out for those who still think QE3/4/5/6/etc is a dynamite idea:

  • People aren’t angry that investors are investing and bankers banking.
  • People are angry that the powers-that-be gave away their tax dollars to the rich.
  • And they’re angry at the rich whose wilful incompetence and outright thievery caused the latest financial diabetes.
  • The Occupy protestors should demo in Washington DC instead because it was DC that gave the money way.

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9 Responses to “‘We are Wall Street’: No, you’re a walnut”

  1. Ed Hurst said

    You get it; they don’t. Yes, we are doomed with QE3 and what goes with it. I was wondering how extensive is the ghost inventory backing so many loans in China. I’m willing to bet your economy still works better than ours in the long run.

    Like

    • Honestly speaking, I wish the various economies in Asia are as good as they seem. The biggest problem here in China (and Hong Kong now being part of China) is that our overlords in Peking have a penchant for fudging figures and cooking the books, so nobody knows how good/bad the situation is. Until it hits the fan. And then we done for.

      Like

    • Hong Kong doesn’t fudge figures – indeed, it’s one of the few places in the world that give out 99% honest figures. The main problem is that honest figures may not be correct figures.

      After 15 years of Chinese sovereignty, Hong Kong is 99% tied up with the Chinese economy through the Pearl River Delta manufacturing base that it’s just impossible to separate the two sets of figures. Where does one set end and the other start? In the end, the economic figures are no better than sit-in-the-bathroom speculation.

      What we do know is that if China stumbles (because America stumbles), we’re screwed royally here.

      Dongguan City about 50 miles west of Hong Kong is a SMALL mainland manufacturing hub with a 13 MILLION population (twice that of Hong Kong), nearly 80% of that population are workers from other provinces! Imagine 10 million people out of work because the USA dries up.

      Most people don’t understand China doesn’t want to screw the USA.

      Like

  2. Ed Hurst said

    Quite right about that interdependence. Most people see only the posturing and hear the saber rattling, but have no real idea what’s going on behind all that fakery. Yeah, in the long run, we are all screwed in one way or another.

    Like

    • Orthio said

      Hey chin up ed – life’s good! Naked, where do you get this info from btw? Is it mostly newspapers? I wonder how easy it is to say with any accuracy whatsoever how truthful china’s economic numbers are… I’m sure they’re not perfect cause, y’know, it’s a huge place to gather data for but still.

      Like

    • Source? I talk to PEOPLE. I’m a financial printer, so I have access to people who are relatively more knowledgeable than the most of us.

      Nothing is ever even 90% truthful, in case your mum didn’t tell you before.

      Unless you actually live in this corner of the world, it’s difficult to appreciate how the economic figures between different places of the same country operate.

      Like

  3. Orthio said

    I feel like I’m reading propaganda whenever I visit your page!

    Brits use billion too btw

    Like

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