The Horse Race that Never Ends

The racing "business" was not created for the horse player. The racing industry is owned, run and manipulated to separate horse players from their money, and then their souls.

But as long as horse players continue to believe in the fairness of horse racing, the sport will live on. A small number of people recognize reality and continue to enjoy the track for the thrills of camaraderie as well as the sport's beauty and pagentry. It's been said by handicappers that the two greatest thrills in life are betting on a race and winning; and second, betting on a race and losing. A few individuals recognize the scam and limit their losses to the entertainment value derived. For most others, the chase sustains the scam.

Why is this last adage salient? Because there is a greater scam afoot --- the global capital markets. These markets are owned, own and promoted by "capitalists" (aka our 'political leadership' and their minions who having graduated from our 'leading' universities) who spend their entire lives creating instruments that separate investors from their money.

It's a Ponzi scheme, plain and simple. The financial system is constructed to transfer your money to their pockets. The shibboleth is "free markets," its banner a promotion of globalization along with free and unregulated capitalism. These vipers' allegiance is to no country and there are no moral values; only to enriching themselves and the political hacks who give them both respectability and much-needed cover.

Usually the damage from the Wall Street scam is containable. This time it's different. Why? Because the overwhelming greed of the capitalists with little or no constraints has led to the royal screwing of unsuspecting investors, other leading financial institutions, foreign governments, and finally...themselves. In the process they have inflictedimmeasurable damage on our banking system, helped destroy middle class home values, wrecked retirement savings and created an opening for foreign governments to buy our assets on the cheap. Now we're in a recession that will inevitably result in job losses and consequent civil unrest.

What's another key factor behind Wall Street's crisis? In place of the God of Abraham, the Wall Street manipulators worship the god of unregulated capitalism. His son is avarice personified and the spirit that moves them is a greed that disdains all moral values which are so much a part of our Judaic/Christian culture.

The people of America must demand that the Ponzi scheme known as Wall Street end and that business as usual will no longer be tolerated. Greed is endemic, pervasive, intractable and universal. The capital markets will only be restored when people's hearts and minds change. When financiers abandon the scam and roll up their sleeves to finance real economic growth that creates jobs, build businesses and demonstrates a concern for the social fabric and not just self interest, only then will Wall Street regain its former glory.