+- +-

+-User

Welcome, Guest.
Please login or register.
 
 
 
Forgot your password?

+-Stats ezBlock

Members
Total Members: 46
Latest: Tony Ryan
New This Month: 2
New This Week: 0
New Today: 0
Stats
Total Posts: 12147
Total Topics: 254
Most Online Today: 3
Most Online Ever: 137
(April 21, 2019, 04:54:01 am)
Users Online
Members: 0
Guests: 1
Total: 1

Author Topic: Money  (Read 6307 times)

0 Members and 0 Guests are viewing this topic.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #510 on: December 18, 2018, 01:15:27 pm »
💣

Quote
“A potential revolutionary situation exists in any country where the government consistently fails in its obligation to ensure a least a minimally decent standard of life for the great majority of its citizens." You will never guess who wrote this in 1961. BUT, when you find out, if you are a CAPITALIST "might is right" IDEOLOGUE, you will stubbornly (and erroneously) pretend it is only true in China, while ignoring the FACT that it is much more applicable in Europe and the USA today.

Quote
Millions of French citizens have been violently demonstrating across France for the last month.

They are known as the gilets jaunes, or "yellow jackets". The protestors wear the yellow high-viz jacket, that is common on building sites and airports.

France: Understanding the Gilets Jaunes Uprising

by Rex

Mon, December 10, 2018

SNIPPET 1:
The vast majority haven't been told the truth about life for ordinary citizens, in France. As a result, they don’t understand the significance of the violent ‘gilets jaunes’ protests across the country. Having lived in France for years, REX explains why these are the most important protests in France since 1968 - and likely a beacon for citizens all across Europe.

SNIPPET 2:
In other words - why are millions of French citizens on the rampage, right now?

Because there’s a real France, that few ever see.

The France of the gilets jaunes. Or as we might label them, les deplorables.

And they are in a state of fury at a ruling class who not only let the population suffer, while enjoying a life of luxury and wealth, but who also blame ordinary people for their own suffering.


SNIPPET 3:

The French Ruling Class

Many still understand France through the lens of Vogue magazine covers: a nation of affluent, happy people who live in elegant homes, with endless holidays, wine and food.

A 24/7 utopia of chic, elegance and style.

Important to note: that France does exist. It is the world of the French ruling class , less than 1% of the population.

This small group of citizens have dominated the business, banking, legal and political scenes for decades.

The ruling class comes from a small group of grandes ecoles, or elite colleges. There are only 3 or 4. The top of the top? L’Ecole d’Administration Nationale (ENA).

Emmanuel Macron’s journey is typical of the ruliing class. He completed a Master's of Public Affairs at Institut d'Études Politiques de Paris (called "Sciences Po"), the #2 elite college, before graduating from ENA in 2004, age 27. He then worked as a senior civil servant at the Inspectorate General of Finances (The Treasury), before getting a high paid gig ad an investment banker at Rothschild & Cie Banque.

See how fast Macron worked his way into the senior civil servant position in the Treasury, before flipping into an exclusive investment bank? That is normal in France. It's a never-ending protected cycle of patronage, promotion, favors and cronyism.

Agelbert NOTE: IOW, it's the CAPITALISM, stupid!

Quote
"Capitalist ideology claims that the world is perfectly ordered and everybody is in their place (i..e. everybody gets what they deserve). This self legitmating aspect of Capitalism is Socially Catastrophic. This is the Victorian view of the world." Rob Urie - Author " Zen Economics"

Full article:

https://quodverum.com/2018/12/344/france-understanding-the-gilets-jaunes-uprising.html

December 14, 2018

SNIPPET:

Quote
Many of the Yellow Vests have flat-out rejected Macron's proposals, according to European-Views.

He is trying to do a pirouette to land back on his feet but we can see that he isn’t sincere, that it’s all smoke and mirrors,” said Jean-Marc, a car mechanic as a gathering of some 150 Yellow Vests in the southern town of Le Boulou.

It’s just window dressing, for the media, some trivial measures, it almost seems like a provocation,” said Thierry, 55, a bicycle mechanic.

“All this is cinema, it doesn’t tackle the problems of substance. “We’re really wound up, we’re going back to battle,” he told AFP before taking part in blocking the Boulou turnpike on the French-Spanish border.

“Maybe if Macron had made this speech three weeks ago, it would have calmed the movement, but now it’s too late. For us, this speech is nonsense,” said Gaetan, 34, one of the “Rennes Lapins Jaunes” (Yellow Rabbits of Rennes).

One 35-year-old French official said that Macron "is being held hostage so he drops some crumbs."

Read more:


Quote
Arrogance & Ignorance : A Toxic Mix

Notice Macron's age, when he became a senior civil servant - 27 years of age. That’s important. The French elites are young men and women, who have been told that they are not just the intellectual creme de la creme, but morally superior. Better human beings, than their inferiors.  These people are arrogant. But they are also ignorant. Raised in very wealthy families and cosseted in the networks those families are part of, they have no understanding of ordinary people and their real lives. Arrogance and ignorance is a very toxic mix. Macron’s tone-deaf appeal to climate change to justify the rise in diesel taxes, as well as his outrageous suggestion that ordinary French folk must drive less, is a classic example of the problem.

Just 27 years old. Young people without life experience, are suggestible. They believe what they are told by superiors and haven’t yet had time to test their opinions, against reality. Macron simply doesn’t have a clue.

What makes the gilets jaunes protests unique? Their main gripe? Elites blaming ordinary people, for problems that the same elites have caused. Elites never being held accountable for their incompetence. And elites never having to experience the conditions, that their failed ideas cause.

French people are sick of being held in chains by a ruling class. They are sick of being poor and unemployed. They want a new direction, for their beloved nation.

Sound familiar?

Agelbert NOTE: If these empathy deficit disordered ruling class Capitalist ideologues don't resolve to go 100% SOCIALIST very, very soon, this will inevitably follow:

It's the CAPITALISM, stupid!


Quote
Proverbs 1 KJV
31 Therefore shall they eat of the fruit of their own way, and be filled with their own devices.
32 For the turning away of the simple shall slay them, and the prosperity of fools shall destroy them.
33 But whoso hearkeneth unto me shall dwell safely, and shall be quiet from fear of evil.




Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #511 on: December 18, 2018, 02:20:10 pm »

Utoob is full of these young guys doing crypto analysis videos. I had just watched one by his partner about a crypto I was interested in, and it was decent, so when I saw this new one a little while ago, I gave it a look. He gets a lot of things right, imho.





BITCOIN December 18, 2018

24 Hour Open $3,458.30
24 Hour High $3,579.81
24 Hour Low $3,429.86
Change $28.20


Yep, it has gone up $28.20 today.  :)

Now for a bit of, uh, context:

Dec 17, 2018 at 11:20 UTC  Updated Dec 17, 2018 at 11:59 UTC

MARKETS

Bitcoin (BTC) is still struggling to find the bottom of a bear market on the anniversary of its $20,000 all-time record price high.

https://www.coindesk.com/a-year-ago-today-bitcoins-price-was-at-a-record-20k

A long time ago (2014), MKing argued that SLB was a buy because it had allegedly hit bottom. SLB was at around $79 a share then. Below, please observe, the cartoon I posted then.

IMHO, It applies to BITCOIN as well. BUT, don't listen to an old retired Socialist who could care less about those smaht guys who just wannna be richer and richer . Listen to those rich smaht guys  and BUY. BUY. BUY BITCOIN! GET DAT MONEY! YOUSE GOTTA HAVE MORE MONEY!

Created December 25, 2014

United States   SCHLUMBERGER NV (SLB) 🦕
   
12/18 02:39:53 pm SLB 38.005   USD   -2.68%

 
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #512 on: December 18, 2018, 02:36:20 pm »
December 18, 2018

SNIPPET:

Quote
“Famous market observer Art Cashin mentioned a metaphor in October 2017 that resonated with me. He said (words to the effect that) at that moment, market players had only the protection provided by pictures of lifeboats, not the lifeboats themselves. This is just like the Titanic, whose measly 16 lifeboats looked nice, but left many hundreds on board with no means of escape when the ship sank. That is the current market situation in a nutshell. Players seem to believe that their positions are diversified enough to protect them in a downturn, and in any case, many appear to expect no major drawdown in spite of many months of extreme volatility. I would argue that the risk is far greater than perceived by many, and the protections most have in place are quite inadequate.

Read more:


Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #513 on: December 18, 2018, 02:52:48 pm »
Graphic Below Created December 25, 2014 by Agelbert when SLB was at around $79 a share:

United States   SCHLUMBERGER NV (SLB) 🦕
   
12/18 02:39:53 pm SLB 38.005   USD  -2.68%

Listen to those rich smaht guys  and BUY. BUY. BUY BITCOIN! GET DAT MONEY! YOUSE GOTTA HAVE MORE MONEY!

It's not enough for Eddie to be $Rich$ 🤑.  He needs to be a Master of the Universe before he retires.


RE

Well, we all have our hopes and dreams. Some are reality based; others are, uh, see below:

December 18, 2018

SNIPPET:

Quote
“Famous market observer Art Cashin mentioned a metaphor in October 2017 that resonated with me. He said (words to the effect that) at that moment, market players had only the protection provided by pictures of lifeboats, not the lifeboats themselves. This is just like the Titanic, whose measly 16 lifeboats looked nice, but left many hundreds on board with no means of escape when the ship sank. That is the current market situation in a nutshell. Players seem to believe that their positions are diversified enough to protect them in a downturn, and in any case, many appear to expect no major drawdown in spite of many months of extreme volatility. I would argue that the risk is far greater than perceived by many, and the protections most have in place are quite inadequate.

Read more:



Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #514 on: December 18, 2018, 04:46:43 pm »
Tue, 12/18/2018 - 16:02

Quote
CashMcCall 👍

... Funds are unloading because people don't trust trump and are pulling out of the funds. They are liquidating. The Funds have no choice but to sell the bottom.

Trump's always looking for imaginary blame for his own crap head policies. 3000 economist and 14 Nobel Laureats told Trump in writing that his dumb tariffs would destroy the economy. Trump and his team of poodles have been watching the decline. The destruction of the farmer, destruction of housing, destruction of the auto industry. Plant closing etc. Then Kudlow comes out and says the economy is humming. People know better. They go into Brick and Mortar stores this week and wonder why there are no customers.

Trump has been back half a dozen times damaging and manipulating markets over China Trade. They spew s******** the markets rise then a poodle like Kudlow comes in the next day and says nobody is talking and markets tank. Well the day of ******** from Trump and his poodles is over. Investors have lost confidence and that spells recession.

Institutional investors are selling because they have to. People are pulling their money out of Trump's ******** markets and economy.

 



Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #515 on: December 18, 2018, 08:45:05 pm »
Jimm Dore interviews Chris Hedges Oct 15 Full 3 parts

38,581 views


Published on Oct 17, 2018

Jimmy Dore interviews Chris Hedges and this clip of Chris the mess that Americans are in NOW!    Thanks Jimmy and as always You are amazing Chris

Larry Publisher of JusticeNewsNetwork.com

Visit Jimmy's youtube channnel for MUCH MUCH MORE Truth!

https://www.youtube.com/channel/UC3M7...

Category News & Politics
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #516 on: December 19, 2018, 04:48:43 pm »


Agelbert NOTE: The desperation of the PPT,👹 as evidenced by their in-your-face market rigging antics below, grows more obvious by the day.


If you do not know what the abbreviation, "PPT", stands for, you do not understand how the stock markets in the USA have been RIGGED since 1987. Here's a brief summary:

Quote
Plunge Protection Team - PPT

REVIEWED BY INVESTOPEDIA STAFF   Updated Mar 11, 2018

DEFINITION of Plunge Protection Team - PPT

The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. The PPT was originally created to provide financial and economic recommendations in the wake of turbulent market times. Members of the team are the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve, the Chairman of the Securities and Exchange Commission and the Chairman of the Commodity Futures Trading Commission.


BREAKING DOWN Plunge Protection Team - PPT

The name PPT was coined by The Washington Post in 1997. Although the team had a viable purpose when initially created, conspiracy theorists suspected that the team was created to shore up, or even manipulate, the markets. Some suspected that the team could executing trades on several exchanges and manipulate the markets when they were heading downward. The team was believed to collaborate only with big banks such as Goldman Sachs and Morgan Stanley, to report only to the President, and to keep no records of trades.


The Creation of the Plunge Protection Team

In 1989, the then President, Ronald Reagan, created the President’s Working Group on Financial Markets after two stressful events, the stock market crash in 1987 and the near-crash in 1989. The group acted as an advisory group on the markets for the president and regulators. However, others suspected the group to be capable of more nefarious activity and possibly capable of rigging the stock market in turbulent times. This theory was further strengthened when Robert Heller, a former governor of the Federal Reserve, gave a speech confirming suspicions surrounding the working group.

The Plunge Protection Team at Work?

On Monday February 5, 2018, the Dow Jones experienced a drop that was twice as large as its biggest point decline in history. However, arbitrary and aggressive buying cut the decline in half in one day. On the Tuesday and Wednesday of that week, stocks opened lower, and each time aggressive buying buoyed the markets. Heller suggested that the Federal Reserve purchased stock index futures contracts to stop a market collapse. He also believes that because the Fed already rigs the bond market through securities purchases, the stock market is easy to control.


Similar activity was noted during the financial crisis of 2007 and 2008 when telephone calls between then-Treasury Secretary Hank Paulson and Wall Street actors were recorded on days when the stock market was tanking and a downward spiral required reversal.

Since the financial crisis of 2007 and 2008, many countries overtly rig their stock markets including Japan and China. This type of activity can be effective in the short term,
but if equities markets are artificially inflated, the bubble will eventually burst.

https://www.investopedia.com/terms/p/plunge-protection-team.asp
Quote

CashMcCall
Trump : "The stock market loves my trade economic policies"

2018 Worst performing stock markets in a decade.  ;D



« Last Edit: December 19, 2018, 08:58:26 pm by AGelbert »
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #517 on: December 20, 2018, 12:56:27 pm »
   

Quote
timehill

Powell is doing what should have been done 4-5 years ago putting a stop to the insanity of cheap/free money used for stock buy backs and speculation.  Those who were nourished on this insanity probably don't have the historical background to switch to "normal" market conditions.
« Last Edit: December 20, 2018, 06:45:02 pm by AGelbert »
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #518 on: December 21, 2018, 02:59:27 pm »
by Tyler Durden

Fri, 12/21/2018 - 12:20

2018 Is Officially "The Worst Year On Record" With 93% Of All Assets Down

Full article:

https://www.zerohedge.com/news/2018-12-21/2018-officially-worst-year-record-93-all-assets-down

Agelbert NOTE: Response to the above by the 🙉🙊🐵 Trumptards:


Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #519 on: December 21, 2018, 04:58:25 pm »
What goes up, must come down.


RE

The sooner, the better. 

[

The Historic Stock Market 💣 Crash 💥 of 2018 CONTINUES

Fri, 12/21/2018 - 16:00 

SNIPPET:

Quote
Worst week for Dow, Nasdaq since Oct 2008 (5th week lower in last 6)

Worst week for S&P since Aug 2011 (5th week lower in last 6)

Just 300 more points lower in the S&P to catch down to financial conditions fair value...

Worst week for Russell 2000 since Sept 2011 (5th week lower in last 6)

From the 52-week highs:

Dow -16%

S&P -17%



Nasdaq 100 -21% - BEAR 🐻

Nasdaq Composite -22% - BEAR 🐻

Trannies -23.6% - BEAR 🐻 

Small Caps -26% - BEAR 🐻

Full article with charts:



Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #520 on: December 22, 2018, 05:29:56 pm »
Agelbert OBSERVATION:

Gold, until the futures and options trade is reformed (and I see no sign that will happen) has become somewhat of a stranded asset. Traders can make money, but hoarders aren't making s h i t these days.

Yes, it is insurance against a dollar hyperinflation, which might happen one day...but not in 2019. I expect more staglflation for a while. Like maybe until climate change starts to cause food to get really expensive. We are not there yet. Be patient, and remember that gold is not the ONLY decent asset.


Gold isn't an asset in the manner you are speaking. That's what you cannot seem to grasp.

Gold is money. The dollar you think is money is a derivative of it. When it was time to pay, as was promised in writing by our government, everyone got the finger.

As to your earnings, I couldn't care what  you make. You stated once a while back what it was, as well as your score amount in the pot stocks.

Your answers are full of contradictions and have become absolutely devoid of logic or correct reasoning . You state you wish to show me a chart of gold, how I chuckled with that one, explaining how it has done nothing for it's holders over the last 7 years. Then in your financial forecasts, you tout cryptos which have crashed 80 to 90% in less than a year. Your enamored with ripple which fell from about 3.50 to about 28 cts.

Are you able to see how conflicted and prejudiced your comments are yet??

You tell me, as if I don't know, that banksters are f u c k i n g with gold in the futures market. Yet anyone knows, who follows cryptos, that the top in bitcoin was the week the Crimex added futures on bitcoin. You must also be aware that futures and etfs on all the cryptos that become popular are planned. Yet that doesn't seem to count when it comes to your favored bets on the future.

Again can you see how prejudiced you are against gold and enamored of what you perceive to be a good bet on a  g a m b l e?

Since you will  think I am f u c k i n g with you, rather than instructing you on your errors, let me close with a word of praise.

You opened my eyes about Ripple. As you stated correctly, the crypto purist, who are mostly self loving geek children sillies won't consider it because it is not decentralized, as well as the enormous amount of them outstanding. I fell for that line of bullshit in my first extremely shallow investigation myself. Your revelations about it's USEFULLNESS and the fact that it is COMPLIANT and viable were an appreciated revelation which I missed on my first shallow consideration of it.

You may take pride in knowing that if GO decides to make a bet on Crypto, very far from that move yet, I have three questions for every answer; as things stand today Ripple would be my first purchase. Kudos to your ability to recognize it's usefulness and adoption. Against the crowd thinking is often a way to substantial scores in the financial markets.   

                           

Look Moron

People made huge money on cryptos last year, while gold never moved enough for a long term holder to make anything. I know, because I was a (bag) holder of gold.

This year a few people made even more money shorting Bitcoin. That was the home run of the year.

Just STFU and crawl back under your rock.


Sorry you don't make any sense Edward.

Sorry you can't face the conflicts in the nonsense you spout as well.

I'm not allowed to talk like you talk to me Edward, so I will have to be content to quote on of your fellow Admin God's of the Diner Palloy.

"As usual Edward, You are full of S h i t" Yes, Admin God Palloy had it correct indeed.
   :emthup:

You don't lack intelligence. You lack real world perspective.

I don't live in the "real world'?  Now I also "lack perspective"?  ::) Keep pitching the Napalm chief, you are undermining yourself here.

Sears Average Salaries for Store Managers
Job   Average
Assistant Store Manager   $45,980
Retail Store Assistant Manager   $45,703
Retail Store Manager   $64,510


RE
Operations Manager   $58,022


Asst. store mgr's may make that kinda' dough but there on site 70 hrs. a week.
It's minimum wage at best. Retail sucks.

I'm sorry for these peoples job loses, however after they've moved on to their next gig, they'll be glad retail is over for them.

I still see former K-Mart employees in town, in their new gig's & they seem to be better off now.

Those are average salaries, some make more some less depending on the location, size of store and performance.  The point here is that plenty of Sears employees buy McMansions.

Say a Store Mgr in Springfield, MO making $50K is married to one of the Cashiers making $15/hr for a 40 hour week, $600 for $30K year.  That's a combined income of $80K.  According to Zillow, the current median price for homes in Springfield is $140K.  I bought these folks a nice McMansion though for $250K. 


So their total Monthly payment comes to around $1400.  Can they afford this?

Now, I'm not sure exactly what their tax bill is, JDW can give a more accurate number but I'll say they pay 25% in taxes shaving $20K off their disposable income.  That leaves them $60K, which is $5K/month.  $1400 is roughly 1/3rd of their income, which they can easily afford.

Eddie runs a narrative which suits him but which is not reality based.  He thinks he is always right because he's the big successful Dentista and I'm the Cripple on SSI who can live well on peanuts, which he can't do because he lives a high maintenance lifestyle.  Eddie only respects 3 types of people:


[float=right][/float]1- Macho Men who chop down trees with big chainsaws and dig fencepost holes with their bare hands.

[float=left][
[/float]2-  Academics with lots of letters trailing their name like Jordan Peterson.

[float=right][/float]3- Other rich people like himself or even richer ones.

Me, he has no respect for and disses me all the time as a know-nothing armchair quarterback.  I get tired of this periodically.

RE


I have little respect for you now  because all you do is cut and paste Patrice Greaneville, a very stupid man, who is (a) a serial liar and (b) fails miserably to understand the most basic things about human beings.

Like I said, those who work at Sears understand their jobs suck. I actually don't know any of them, but I have a lot of patients who work at Walmart.  AZ gets it, even though you don't.

Your narrative is the false one, and I don't support it.

I have little respect for you now  because all you do is cut and paste Patrice Greaneville, a very stupid man, who is (a) a serial liar and (b) fails miserably to understand the most basic things about human beings.

That is patently false.  I write an article, record a rant, cook a SNAP Card Gourmet recipe or design a new Survey practically every week.  The last article you wrote for the Diner was months ago.

Quote
Like I said, those who work at Sears understand their jobs suck.

I never said they like their jobs, just that many can and do afford to buy McMansions.  I demonstrated that by the numbers.

Quote
Your is the false one, and I don't support it.

You keep making that assertion, but you never provide any evidence to back it up.  Meanwhile, my evidence is clear and demonstrable.

RE

Yep.

Remember one salient thing going on here right now, RE. The good doctor's cheerleading for Bitcoin and the like is expected considering that 93% of ALL ASSET CLASSES are in the litter box.  ;D

2018 Is Officially "The Worst Year On Record" With 93% Of All Assets Down

Capitalists are not in the best of moods when reality bursts their Capitalist Happy Talk MYTHOLOGY bubble, along with a LOT of paper profits. ;)

So, they look for some "asset class" (see: Bitcoin bump the last week), no matter how speculative and no matter how iffy (i.e. people will sell the BITCOIN they have, making it go DOWN, when they need money, it being that the dollar value of their stocks and PMs are getting trashed) in the present market situation.


In about two weeks, when the BITCOIN bump turns into the BITCOIN SWAN DIVE , expect the good doctor's mood, along with his "respect" for anyone that dares to put some financial reality in his face, to worsen along with the dollar value of his diversified portfolio. The polished vocabulary of an educated professional will suddenly become the most vile, vitriolic, cussword filled invectic you can imagine. Mild mannered Capitalist Dr. Jekyll will become Angry Mr. Hyde when his "diversified" portfolio is further degraded by CAPITALISM CAUSED reality.

Scraping the whitewash off our CAPITALIST mythologies is painful for those whose lives were framed by those mythologies. They are too busy pointing fingers at their favorite bugaboo, Socialism, to see the Capitalist Cancer destroying their future. 

IOW, "It's the CAPITALISM, stupid."

The Capitalists will be the last to figure that out. They'll fight low and high and dirty and dirtier. They'll do ANYTHING to avoid admitting their ideolgy is ruinously destructive to the people and the planet. They will probably win that battle, no matter how in-their-faces the biosphere destruction gets. Capitalist ideology has NEVER been based on anything but empathy deficit disordered greed. It will be a pyrrhic victory for them. Stupid is as stupid does.
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #521 on: December 22, 2018, 06:33:43 pm »
What Will Happen If (NOW THAT) America Shuts Down? (w/Professor Richard Wolff)

10,418 views


Thom Hartmann Program

Published on Dec 21, 2018

What is going to happen to workers if the Government shuts down? Professor Richard Wolff joins us to discuss the ramifications of Donald Trump's political bribery to get his wall.

How will you get by if the government shuts down?


Agelbert NOTE: If you do not know what the abbreviation, "PPT", stands for, you do not understand how the stock markets in the USA have been RIGGED since 1987. Here's a brief summary:

Quote
Plunge Protection Team - PPT

REVIEWED BY INVESTOPEDIA STAFF   Updated Mar 11, 2018

DEFINITION of Plunge Protection Team - PPT

The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. The PPT was originally created to provide financial and economic recommendations in the wake of turbulent market times. Members of the team are the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve, the Chairman of the Securities and Exchange Commission and the Chairman of the Commodity Futures Trading Commission.


BREAKING DOWN Plunge Protection Team - PPT

The name PPT was coined by The Washington Post in 1997. Although the team had a viable purpose when initially created, conspiracy theorists suspected that the team was created to shore up, or even manipulate, the markets. Some suspected that the team could executing trades on several exchanges and manipulate the markets when they were heading downward. The team was believed to collaborate only with big banks such as Goldman Sachs and Morgan Stanley, to report only to the President, and to keep no records of trades.


The Creation of the Plunge Protection Team

In 1989, the then President, Ronald Reagan, created the President’s Working Group 😈 on Financial Markets after two stressful events, the stock market crash in 1987 and the near-crash in 1989. The group acted as an advisory group on the markets for the president and regulators. However, others suspected the group to be capable of more nefarious activity and possibly capable of rigging the stock market in turbulent times. This theory was further strengthened when Robert Heller, a former governor of the Federal Reserve, gave a speech confirming suspicions surrounding the working group.

The Plunge Protection Team at Work?

On Monday February 5, 2018, the Dow Jones experienced a drop that was twice as large as its biggest point decline in history. However, arbitrary and aggressive buying cut the decline in half in one day. On the Tuesday and Wednesday of that week, stocks opened lower, and each time aggressive buying buoyed the markets. Heller suggested that the Federal Reserve purchased stock index futures contracts to stop a market collapse. He also believes that because the Fed already rigs the bond market through securities purchases, the stock market is easy to control.


Similar activity was noted during the financial crisis of 2007 and 2008 when telephone calls between then-Treasury Secretary Hank Paulson and Wall Street actors were recorded on days when the stock market was tanking and a downward spiral required reversal.

Since the financial crisis of 2007 and 2008, many countries overtly rig their stock markets including Japan and China. This type of activity can be effective in the short term,
but if equities markets are artificially inflated, the bubble will eventually burst.

https://www.investopedia.com/terms/p/plunge-protection-team.asp
Quote

CashMcCall
Trump : "The stock market loves my trade economic policies"

2018 Worst performing stock markets in a decade.  ;D



Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #522 on: December 22, 2018, 07:03:01 pm »
Economic Update: Cooperation Jackson: A Closer Look
9,178 views


Democracy At Work

Published on Dec 17, 2018

Help us reach 100,000 subscribers and gain access to more studio time!  Please hit the red SUBSCRIBE button above. ^^^

Support the show! Become an EU patron on Patreon: https://www.patreon.com/economicupdate

Economic Update: [[S8 E25] Cooperation Jackson: A Closer Look

THIS WEEK'S TOPICS (w/timestamps):
00:54 - Updates on massive international study of profit-driven food production;
05:32 - the huge costs of contemporary loneliness;
07:47 - the police raid of Deutsche Bank;
10:08 - falling house prices; 
12:05 - Belgium follows France in mass street demonstrations;
12:58 - and how the U.S. economy is hurt by the poor incomes of Millennials;
14:15 - announcements.
15:12 - SPECIAL GUEST: Kali Akuno, the co-founder of Cooperation Jackson, the Mississippi development project focused on worker co-ops.


To watch the second half of the interview, please visit us at https://www.patreon.com/economicupdate

Follow us ONLINE:
Patreon: https://www.patreon.com/economicupdate
Websites: http://www.democracyatwork.info/econo...
                  http://www.rdwolff.com
Facebook: http://www.facebook.com/EconomicUpdate
                   http://www.facebook.com/RichardDWolff
                   http://www.facebook.com/DemocracyatWrk
Twitter: http://twitter.com/profwolff
              http://twitter.com/democracyatwrk
Instagram: http://instagram.com/democracyatwrk
Subscribe to our podcast: http://economicupdate.libsyn.com
Shop our Store: http://bit.ly/2JkxIfy
Category
News & Politics
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #523 on: December 23, 2018, 02:51:23 pm »

Hungarians Rise up Against Anti-Worker ‘Slave Law’ and Growing Authoritarianism

December 21, 2018

Protests have rocked Hungary after the passage of what labor activists call a “slave law,” which lets employers demand 400 hours of overtime and no pay for 3 years .  Journalist Benjamin Novak says the opposition is in a rare moment of unity


Story Transcript

BEN NORTON: It’s The Real News Network and I’m Ben Norton.

A wave of protests washing over Hungary in response to a new labor law that critics are calling the “slave law.” This new labor law will allow employers to demand up to four hundred hours of overtime from their employees every year, and in addition, it will allow those employers to delay payment for overtime by up to three years. The protests, however, are not just about the labor reforms. In addition, hundreds of independent media outlets, including newspapers and television channels, have been consolidated in the hands of pro-government billionaires, and opposition voices have been erased from the public discourse. On December 17, opposition members of parliament brought their protest to the state TV station, and despite their parliamentary immunity, they were attacked by security forces and forcefully ejected from the building.

Well, joining us to discuss the growing protest movement against the right wing Viktor Orban government is the journalist Benjamin Novak. Benjamin is based in Budapest, Hungary. He is a former senior correspondent for The Budapest Beacon and is now freelancing for a variety of outlets. Thanks for joining us, Benjamin.

BENJAMIN NOVAK: Thanks for having me.

BEN NORTON: So we had you on quite recently, in fact about a week ago, to talk about the consolidation of media control in Hungary and the kind of authoritarian bent that the country increasingly has. And now, in the past week, we’ve seen a massive eruption of protests. Of course, many of these protests are about what they’re calling the “slave law,” but others are simply about the consolidation of power by the Viktor Orban government. So can you respond to what you’ve seen in the past week with these enormous protests?

BENJAMIN NOVAK: In the middle of last week, the Hungarian National Assembly adopted a string of controversial bills. And this was the last session before they took a break for winter recess. Now, among these bills they adopted, one was the so-called “slave law,” which is a modification to labor regulations in Hungary, which as you pointed out, increases the cap of max overtime employers can require employees to work from two hundred fifty to four hundred hours per year. And it also allows for there to be a delay in payment for those overtime hours for up to three years. Labor unions are quite upset about this. But this wasn’t the only issue, the only bill that was voted on in Parliament last week. There was also the creation of a parallel court to be essentially administered by the government itself, and that is also quite controversial.

And so, you have very controversial bills that were adopted in Parliament last week, and they were adopted in a way where stakeholders felt they hadn’t been consulted with on this and they felt they were getting the short end of the stick. And so, in response to this, there have been a string of protests. These protests are not single issue protests, so what you see going out to these protests is that people are quite upset about the deterioration of media in Hungary, they are quite upset about this new labor law, they’re quite upset about the corruption. It’s a lot of young people out there, and a lot of young people at these protests have been telling me that they’re concerned that if Hungary continues down this path then they too will have to leave the country just as many hundreds of thousands of Hungarians have done since 2010 when the Orban government came to power.

So it’s a pretty complex and a very diverse protest. The opposition, for the first time in a very long time, has been able to unite together and frame a very strong message around this so-called “slave law.” And it seems that it is working. They’ve actually been able to keep this on the agenda. Just now, before we spoke, I read that the president of Hungary signed that law into force, so it’s now going to be a law officially. So it’s going to be very interesting to see what happens. Labor unions have announced that they are creating a strike committee, so we’re going to see some interesting things happen in the coming week.

BEN NORTON: Benjamin, can you talk about why they’re trying to push this bill through so fervently despite all the massive opposition? Specifically I’ve seen reports claim that one of the talking points used by the Orban government is that because the worker retirement rates are increasing and because workers are getting older on average, because the right wing government is so opposed to immigration, they’re saying that they need these labor reforms to keep the economy running and essentially force workers to work longer hours. So this is also interesting because there are other far right movements in the region, not just in Hungary. And in Hungary, we see the combination of these kinds of neoliberal economic reforms, whereas in other parts of Europe, we’ve also seen the rise of far right movements that maybe haven’t been as openly kind of neoliberal. Instead, they’ve appealed to a kind of economic nationalism. So maybe you can explain what the rationale is behind the law and what the economic policies are of the administration.

BENJAMIN NOVAK: Sure. So the rationale behind the law–and this is a fantastic question and I’ve always been very happy when people ask me about this. It wasn’t the government that submitted this law, this bill the parliament. It’s very important a very important piece of information here because there is a loophole in Hungarian law says if individual MPs submit bills to parliament. Those bills are not subject to what is called a public consultation where stakeholders are consulted with what the law would require. And so, what happened was it wasn’t the government that submitted the bill, but two ruling party MPs submitted the bill. Had the government opted to submit the bill, they would have had to engage in a public consultation with labor unions and other stakeholders, and that sometimes can be a very long and drawn out process.

Instead, what we saw was a bill that was submitted and then very quickly, within a matter of weeks, it was voted into law. The Hungarian government claimed that this law is necessary because German investors in Hungary have asked the government to create more favorable labor conditions to match their investments in Hungary. There is a shortage of skilled labor in this country. The labor force is getting older, a lot of young people and middle aged people are leaving to work in Western Europe, so they’re trying to–it’s very difficult to say. We don’t know the reason behind it exactly, but we can assume, based on the information we have at our disposal here that we employers need to be able to keep people working a lot.

BEN NORTON: And then, finally, in our previous interview, we discussed the kind of growing authoritarianism in Hungary where Viktor Orban is clamping down on dissent. These protests obviously suggest that there is actually a vibrant opposition. What is the state of the opposition and do you think this could portend changes in the future?

GREG WILPERT: Well, the opposition is quite small and divided. As you know, the ruling party in Hungary has a constitutional majority. They have two thirds of the Parliament, which means if they so decided, they could just write a new constitution tomorrow, have it adopted and not even having consulted the opposition about it. And that’s sort of what happened in in 2010 when this government came to power, back then also with the two thirds super majority in parliament. So the opposition is quite, quite fragmented, it’s quite small, and they’ve kind of been going at each other’s throats for the past few years, I mean, quite hostile towards each other. Until recently, and for the first time since I’ve been reporting on Hungary and this this labor law has been a catalyst for cooperation amongst opposition parties, they’ve kind of realized that this isn’t going to work if they’re fighting each other. And so, you have a law like this so-called “slave law,” which has kind of united these opposition parties.

Now, I’d like to point out here that last Sunday, there was a big protest in Budapest and the protesters marched from the steps of Parliament all the way, many kilometers in the freezing weather at night, out to the headquarters of Hungary’s state run media conglomerate. It’s the holding company for all the public media. And they went out there to protest against this other issue that you brought up, which is essentially media consolidation and the drowning out of what they believe are opposition independent voices. And MPs went with them and wrote up a list of demands and they demanded to go into public media and they wanted to read this list of demands on air. This list of demands included an immediate withdrawal of this so-called “slave law” overtime bill, it called for less overtime for police, it called for an independent judiciary, it called for Hungary to join the European public prosecution office and it called for independent public media.

Opposition MPs have not been able to read this list on air in public media in Hungary. In fact, the following day they camped out, about a dozen opposition MPs camped out inside the public media headquarters. They were restricted from even walking around inside there, despite them having the legal authority to do so as it is a public institution and they are members of parliament. And they were forcefully ejected. One man was very forcefully ejected, and eventually the police came on Monday and then removed all the MPs from the building. And so, that kind of gives you an idea as to how tightly controlled the media is, how important the ruling party sees media to accomplishing its objectives, when opposition MPs feel that they are simply blocked from sharing a message at a time, in a very rare time, when all of them are on the same page about something.

BEN NORTON: Well, we’ll have to end our discussion there. We were speaking with Benjamin Novak who is a journalist and former senior correspondent for The Budapest Beacon. As this issue develops, we’ll have him on. Thanks for joining us, Benjamin.

BENJAMIN NOVAK: Thanks for having me. Bye bye.

BEN NORTON: For The Real News Network, I’m Ben Norton.

https://therealnews.com/stories/hungarians-rise-up-against-anti-worker-slave-law-and-growing-authoritarianism

Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 21821
  • Location: Colchester, Vermont
    • Agelbert Truth AND Consequences
Re: Money
« Reply #524 on: December 24, 2018, 11:56:59 am »

Less Than 1% From A Bear Market

by Tyler Durden

Mon, 12/24/2018 - 10:06

The longest bull market in history - as measured by the S&P 500 - is now less than 1% from ending, with the drawdown from the Sept 21 highs now just above 19%...2352.7 is the magic number.


Of course, The Russell 2000 (-27%), Nasdaq (-22%), and Transports (-25%) are already deep in bear market territory.

Expect more tweets from the administration once the S&P officially drops 20%, and more speculation that Powell's tenure is about to end.

https://www.zerohedge.com/news/2018-12-24/less-1-bear-market




« Last Edit: December 30, 2018, 01:47:46 pm by AGelbert »
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

 

+-Recent Topics

Electric Vehicles by Anony mouse
May 24, 2019, 12:02:52 pm

Computer Software Security by Anonymous
May 24, 2019, 11:37:21 am

Global Warming is WITH US by Surly1
May 24, 2019, 09:54:50 am

Historical Documentaries by Surly1
May 24, 2019, 08:32:22 am

Money by Surly1
May 24, 2019, 08:10:32 am

Doomstead Diner Daily by Surly1
May 24, 2019, 07:05:13 am

War Provocations and Peace Actions by AGelbert
May 22, 2019, 10:44:45 pm

Interesting, but little known, Facts about Famous People by AGelbert
May 22, 2019, 10:37:19 pm

Corruption in Government by AGelbert
May 22, 2019, 10:13:29 pm

U.S. History & Politics, Climate Change, Trump Impeachment & Standing Rock: CONTEXT by AGelbert
May 21, 2019, 08:17:39 pm