Good times on Wall Street or fair weather hidding darker clounds?

Fair weather on Wall Street? One would like to think so. The markets are rebounding, it seems, on news of good or better than expected earnings for Google or Coca Cola or even debt ridden banks like JP Morgan Chase and Lehman Brothers. Wall Street is on the verge of throwing more workers out on the streets. CitiGroup is slashing another 20.000 workers; Merrill Lynch 10 per cent of its workforce or some 4000 employees, not to mention the eventual sacking of JP Morgan of some 7000 from Bear Stearns. Unemployment is rising; food prices are sparking food riots abroad and suddenly governments are prohibiting grain and rice exports to preserve stability at home. But the markets are smiling, the bankers buoyant, thinking the subprime meltdown is on the wane. Think again old cocks. John Thain ex Goldman Sachs, ex chairman of the New York Stock Exchange, and now chief honcho at Merrill Lynch, says the problem runs very deep and it is a silent terror stalking world financial markets. Of course, as the Rothchilds say, during wars and economic breakdown when blood flows freely in the streets, it is the best of times to make money, and that is certainly what the plutocrats, the blood suckers on the arse of the people, and coupon clippers, and the 'magouille' are doing. They will sing and dance on the graves of the poor till the day of reckoning comes to them.