Why You Can’t Trust Financial People And Business People

In an article over at TPM about the weakening economy and falling demand for goods and services by consumers, you’ll find this gem:

"The consumer is not dead," said Tim Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York. "We could really see the consumer come back at any moment here, especially if hiring begins to pick up."

Can you spot the disconnect here?

Consumers are spending less. They are not at the moment ‘coming back’, they’re leaving.

Why? They don’t have jobs. They don’t have money. They have no sense of security. (Obviously we’re not talking about the disconnected financiers and their ilk who brought the economy down and continue to profit handsomely while the rest of us suffer.)

So if people are not spending their money on the things that companies build, why would the companies increase their hiring?

They’re still firing people.

Yet Mr. Ghriskey can’t seem to make that connection.

No sales, therefore no hiring.

The Lion suspects Mr. Ghriskey is a Republican, who are known for a) failing to understand the basic logic of reality and b) don’t care about reality or the people who have to live in the reality the Republicans have created. Or possibly he’s simply a cockeyed optimist. Or he’s been into the Ghriskey family whiskey. Could be he’s just a dumbass, shell-shocked Democrat. But he is one thing for sure, and that’s a financial kind of guy.

Ask for an opinion about the economy from a hundred of these kinds of people and you’ll get answers that couldn’t be reconciled by the most skilled Enron accountant.

They don’t know and you can’t know. And the Federal programs that could resolve the disconnect not noted by Mr. Ghriskey are being thrown under the limousines of the financiers by their toadies, the Republican Congressional delegations.

Those are the same limousines under which the Republicans have decided to throw the unemployed, at least five of whom are seeking each available job. In fact, the Republicans want to throw so many unemployed people under the limousines that the country could probably pave a superhighway from Washington, D.C. to Los Angeles with the bones of the unemployed.

And they want us to trust them in November to do a better job. Better job of what? Paving? Creating Hoovervilles? Unleashing the banks and schlock stockmeisters? Apologizing to BP? Lying to us?

Gotta say it. The American people love a good con, especially when they’re being conned.

What this country needs is more Republican con men being convicted and turned into prison cons.


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2 Responses

  1. I’ll be the first to admit that I don’t have much of a head for business. What’s pathetic is that it looks like most business people don’t have any better heads for business than I do.


    • I suspect it’s more that most business people have a head for their business, but no head for finance, for the economy, for cause and effect, for the bigger picture.


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