ANTIESTABLISHMENTARIAN

From Yahoo Finance,

Get used to being nickled and dimed by the banks (even more than usual), says Diane Garnick, investment strategist at Invesco, who notes deflation has hit every other asset class in the past year, save ATM fees.

“We’re going to get hit with all of these small fee coming from the banks,” she says, noting banks’ institutional customers are both smaller in number and much more cost conscious after the credit bust. “The way we’re going to see these fees really come about will be on the retail side.
They’re saying, the people who borrowed from Mastercard to pay Visa — the little guys — we’re going to bump those fees all the way up.”

Higher credit card fees: Think of it as just one more way of Wall Street .

No problemo, Kemosabe. I’ll just stop using those services and get back to a cash basis. You want the economy to improve? Then squeeze the shit out of the little guy who’s already in hock up to his ears.  Here you got Bernanke who’s trying to pump out more consumer credit, and the banksters who are trying to end it.  That’ll work.

Stocks open lower after surprise increase in last week’s jobless claims

* By Madlen Read, AP Business Writer

* On Thursday June 25, 2009, 9:46 am EDT

NEW YORK (AP) — An unexpected rise in jobless claims is causing investors to sell again.

A day after the Federal Reserve expressed confidence in the economy, the government said new jobless claims rose by 15,000 to 627,000 last week. The market had been expecting a decline.

Unemployment has been one of the most closely watched gauges of the economy throughout the recession as it affects many drivers of economic growth — most importantly, consumer spending.

Unexpected? By whom, and on what basis was this unexpected when there is virtually NOTHING in all the economic data to suggest that employment would do anything other than continue to decline? The only ones surprised would be the fools who listen to the endless stream of  propaganda put out by the Federal Reserve.

UPDATE: Mr. Market as of noon is up 150 points on news that unemployment continues to skyrocket. Last I heard, crashing employment means the economy is doing the same. Does Mr. Market like paying more money for stocks with crashing dividends; that is, paying more for less? What do you think?

Or is there something else going on here? Wouldn’t be Senior Banana Ben Bernanke funnelling money to Mr. Market via is countless giveaway programs, now would it? Just how much longer can this game go on?

Answer: Until the foreign central banks decide to pull Uncle Sam’s credit cards. Then the great game irrevocably ends.