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So this is how Democracy dies, with thunderous applause

Friday, 12 August 2011 08:15

All you Star Wars fans know this line as Senator Amidala sees control of the galactic senate taken over by the thugs of the outer rim territory, in a movie that is very entertaining, but in the real world it scares me and angers me. Two events in the last 24 hours are proof that democracy is in fact dying and that worldwide governments and more specificially politicians always have another lower level to reach just when you think they have hit rock bottom.

The first event and to me the egregious event is the United State Securities and Exchange Commission is looking into the Standard and Poors downgrade report to see if there was any insider trading done at the firm. According to a Reuters report from 8/12/11, the SEC is looking into which employees knew of the report, the article goes onto state that the SEC is not aware of any aberrational trades, read the full article here.

So if the SEC is not aware of any aberrational trades then what basis are they using for looking into the employees of the company? Liberals were upset with George W. Bush and the wire tapping, do they have the same guts to go after Obama and this lynch mob mentality? For the record, S&P did not cause the current state of economic affairs, Washington did. I am not defending S&P or any of the rating agencies, they all played a huge role in the 2008 meltdown and are as culpable as any government agency.

Run amock spending which has spiraled into enormous debt, a clueless FED that through its QE programs has killed the middle class, a jobless "non"recovery, recovery and housing prices yet to find a true bottom is why the economy stinks and heading for a double dip recession if not worse. S&P did no cause the market to drop, more sellers than buyers is what caused the market to drop. S&P telegraphed this move months ago and the market rallied. If the US Government was John Q. Public, they would have declared bankruptcy a long time ago.

The SEC, a government agency better have something more than just inuendo and a vendetta ordered by a horrible President that is looking down the barrel of a one term and done administration. Obviously their hope is that if they find insider trading, then S&P is the bad guy, but insider trading or not, the economy is still heading down a path of destruction and with our over burdened debt perhaps even more credit problems.

The second event that just pisses me off is Europes decision today to ban short selling on financial institutions. This angers me more because the United States used this same tactic in August-September of 2008. I cannot explain how undemocratic this is, why do these governments change the rules in the middle of the game. When the markets are rallying, they do not curb the upside movement. I used to love to play online poker, I can't do that anymore and I love to short weakness and my brethren that trade UK stocks can no longer do that either.

Democracy is surely dying, the question is do the citizens of this world have the guts to grab it back from the corrupt and amoral politicians that so dearly want to take our freedoms from us? The answer lies within each of us, make enough noise and vote them out until there are people that truly care about you.

Star Wars had a happy ending, but they have Jedi, who do we have?