Our ‘Double Bubble’ of Economic Trouble

[marmar]

from Too Much: A Commentary on Excess and Inequality:



Our ‘Double Bubble’ of Economic Trouble
June 25, 2011

‘Asset bubbles’ have been roiling our economy ever since America’s wealthy started supersizing three decades ago. But another bubble, this one enveloping those wealthy, may be just as essential to understand.

By Sam Pizzigati


America’s corporations, the latest stats show, have been upping what they spend to protect their top executives by about 15 percent a year since 2006. A host of companies — the World Protection Group Inc., the 360 Group, the Steele Foundation — are now making millions keeping CEOs and their buddies secure.

But where are all these millions for executive security actually going? Even the most elaborate and expensive residential security system, after all, only needs to be installed once. So what are companies getting when they routinely lay out six figures a year — and more — to keep their honchos whole?

Consider this mystery solved. Corporations that shell out small fortunes for security, the July Mother Jones reveals, aren’t just buying their execs fancy alarm systems or even bodyguards. They’ve essentially providing armed servants.

The highly trained staffs that executive security firms supply aim to please. These security staffs carefully plot out, in excruciating advance detail, each day’s executive itinerary. The goal: to make sure executives never have to wait for an elevator or a car — or have anyone untoward ever get in their faces. ...................(more)

The complete piece is at: http://toomuchonline.org/beyond-the-asset-bubble/

[Demeter]

1. They can run, but they can't hide

a confession of criminality, if ever I heard of one.

[no_hypocrisy]

2. They invest in Blackwater and use their services as well?