When the Wall Street crooks have the chutzpah to claim:
- people "cast a jaundiced eye" toward Wall Street.
- "banks and wealthy individuals are viewed by others as a revenue source for re-distributional policies"
bloomberg.com/news/articles/2019-11-12/citi-says-to-gird-for-election-war-on-wall-street-and-wealth
It's shocking how insolent and stupid those people are.
The absurd capitalist economy of the US Corn Republic.
Those ridiculous fortunes in USA are not even real. Billionaires can't even claim they actually own that much money, since they can't sell their stocks at the nominal price at the bourse. If they sell them over a longer period of time, they won't even get a half of it. If investment banks don't act friendly, they may even be left with almost nothing. So Paper Billionaires are as phony as the US economy itself.
There would be no billion-dollars companies (or even most of small
businesses) without the privileged credit coming from the Federal
Reserve. To become a billionaire, you don't have to be smart, you have to
be well connected within the regime. Like in the communist party in
China.
The problem lies within the system itself. Capitalism redistributes money owned by the whole society (debt is owned by everyone) to the financial cliques through the Central Bank credit (and tax cuts). The Central Bank prints money backed by the taxpayers and thus it
indebts the whole society (also the penniless and the homeless). Then
the Central Bank spreads this money to its crony-bankers (financial
clique) who have the power to "give" it to its vassals, who then employ
workers.
Capitalism is not "free market". As even the name suggests, capitalism is defined by the system of money (capital) creation (simply printing) and redistribution, i.e. banking. The redistribution of money/wealth goes from the whole society toward the oligarchy (mainly Wall Street).
Capitalism is de facto a modern feudalism. A welfare system for the rich.
It's like the feudal system where the Lord (Federal Reserve) gives his vassals land (in this case money, credit) and they rule over the land through those privileges. So everybody pays for the Wall Street hucksters' privileges.
Capitalism is a modern feudal system in which the oligarchy took over the national wealth and employs workers as their servants.
Wall Street is a bunch of privileged bloodsuckers who leech on the bloodstream of society, i.e. financial system.
The Wall Street stock market scam.
Everything is a joke in the US Corn Republic. Including the economy. US economists don't know where the capitalist cliques take their privileged position and money from (i.e. Central Bank's alms - debt money credit backed by the nation's wealth).
The crooked, halfwit elites worship the stock exchange (Wall Street) and present its indicators as the state of the economy itself. In a normal system, the bourse exists simply for exchanging ownership of companies. Company's productivity and profitability affect the price of the stocks, but they cannot be affected by the stocks ownership structure (especially when it's spread among vast number of small shareholders). Shareholders are not executives.
In USA, the stock exchange is mainly a place for speculation where the leaches and rats prey upon the financial system of the nation. To facilitate exchange of companies' ownership, you don't need a continuous trading system. Month-to-month sessions are enough. You need the ability to trade every day or even every second only for speculation (short term deals, even automated).
A bourse as a whole cannot create wealth and money out of nothing, its indexes don't tell anything about the state of economy. It only allows exchange of the ownership. If one buyer/seller makes money, another must lose.
Foreign investments are a short-term injection of wealth, since they will be withdrawn some time in the future. Basing retirement programs on stock market "investments" is absurd.
How do the US indexes and NYSE "market value" go up, though?
The US capitalist economy is a house of cards based on financial speculation (to the point of creating totally absurd things like derivatives).
US stock markets are artificially propped up by the money given by Federal Reserve to Wall Street investment banks (like JP Morgan, Goldman Sucks, Lame-man Brothers). That's not just to serve as "a plunge protection team", it's simply their modus operandi. Money is printed and funneled to the NYSE to keep the indexes like Dow Jones up. It's like child's play for nothing.
Except, it's actually helpful for USA to keep its high profile in the international con-game. USA is the greatest debtor in the world which can't pay its debts back. It needs to maintain its image as a strong expanding economy, so its creditors keep buying US treasuries and don't abandon the dollar.
Like a man living on bank credits needs to maintain high-profile to get some bankers to give him more and more credit - if they see he is in trouble, he is immediately finished. USA is in such a situation.
US capitalism is not a normal system. It's based on the imperial system of petrodollar as the reserve currency. The whole world pays for the US empire through the dollar being a reserve currency and the petrodollar - it's a de facto Imperial Tax imposed by USA on the world. Lose that and USA goes back to its third world status, where it belongs.
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Russia supposedly wants to eliminate US shale oil producers by driving the price of oil below $40 a barrel.
"Forbes" claims "such a strategy demonstrates a MISUNDERSTANDING OF USA BANKRUPTCY LAWS", "in late 2014 did ultimately result in hundreds of shale producers declaring Chapter 11 bankruptcy, the net result of that process is that most of those companies reorganize themselves and COME BACK WITH FAR LESS DEBT LOAD".
forbes.com/sites/davidblackmon/2020/03/07/russia-yanks-a-leg-from-us-shales-three-legged-stool/
This is called bankruptcy PROTECTION. That means capitalist socialism for corporations and the companies chosen by the regime. They don't have to pay their debts back and they can continue operating. All that changes is the ownership structure.
If the company is important for the US regime, the creditors somehow waive their right to get their money back. Those creditors are the privileged bank which get basically free money from Central Bank (debt-created money owned by whole nation). So this is de facto state SUBSIDY. Another way is Wall Street banks helping with "futures" (hedging) by taking the risk and losses on themselves.
That's how USA cheats the international competitors by subsidizing vital economy sectors.
That's how the regime and Wall Street banks will try to help US shale oil producers, but in the end they will be drawn down the drain with them if the price remains low for long. This is a huge risk for USA. It will end with a bigger disaster than 2008.
USA is the biggest currency manipulator and the protectionist in the world. It cheats everybody.
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Mar 15, 2016
USA is the "free rider" of the world (Obama has a lot of chutzpah to accuse others of this). The world pays for its own enslavement at the hands of the US Empire. The dollar reserve currency, the petro-dollar arrangement is pure robbery. But the self-deluded Yanks think they got rich not off their piracy (like Britain), but because of their "liberty", "freedom" and other empty slogans. ...lol...
When the time to pay the debts comes, they still want to continue their free ride.
USA's Central Bank prints money like toilet paper without the risk of hyper-inflation, because the world absorbs dollars. Other countries need them as a reserve currency and to buy petroleum.
But the time of reckoning must surely come some day. When the world loses faith in the US Empire's might and its unchallenged dominance, the dollar and other non-printed money will start flooding USA, thus causing the inevitable collapse of the hoax US economy. China already wants to exchange the "toxic" US assets into something more real like real estate.
US economy (and USA itself) is like a giant balloon empty inside. Little force is needed to make it deflate and collapse.
Trump is a good candidate for the last US president. He will go overboard. Just like Cruz would.
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Apr20 2020
https://twitter.com/Krzesimir_Bo/status/1252319764250329089
That's how the crooked capitalist system works. Shareholders are the chumps who have no power over their own company. The control is in the hands of the class of executives, who actually have all the power over companies owned by someone else (like the communist party's apparatchiks in Soviet Russia). They determine what their multi-million salaries are, they give themselves parts of someone else's company (as ownership shares) as reward for their good work and they themselves assess their own work (like Trump who pats himself in the back for doing "great job").
The capitalist system allows parasites to flourish thanks to the fragmented ownership structure on stock exchange.
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