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Author Topic: Money  (Read 8411 times)

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AGelbert

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Agelbert NOTE: Except for Charles Hugh Smith's bias aganst Medicare for All based on the exactly backwards notion that the "administrative costs" (a term CHS conveniently avoids using because, if he did, his argument against Medicare for All would be exposed as a backdoor defence of Corporate "Health Insurance") of Medicare, because of the massive Medicare billing fraud he we are now saddled with, would "get worse" under Medicare for All.

CHS knows damned good and well that "Adminstrative Costs" in Private Health Insurance Corporations are 5 to 10 TIMES GREATER than the "Administrative Costs" for Medicare. He ALSO KNOWS that the REASON FOR THAT is the CEO multi-million dollar pay of all these corporate crooks from Humana to Aetna to Blue Cross (and so on). There are NO "pay packages" like that in Medicare, PERIOD!

These thieving "health care"corporations defraud and milk people for all they are worth, making them a Capitalist's gravy train to the tune of over 17% of US annual "GDP" (see: stock market valuation based false equivalence with US economy GDP). If CHS really wanted to put the US stock market in a swan dive, he would be cheering Medicare for All instead of trashing it because of the 40% billing fraud. The fraud costs of Medicare are minuscule compared with the FRAUD, worthless or harmful meds and procedures, paper-pushing and OVERBILLING that Corporate Health Insurers engage in 24/7. Medicare for All would put Wall Street in a death spiral. CHS's inability to connect those dots is evidence of bias.

Other than that, the article is correct in stating that the populace is not going to take much more of this Oligarchs 'R" US country impoverising economy.

Stock Market Cheerleading: Why Do We Celebrate The Super-Rich Getting Richer?

Wed, 11/13/2019 - 11:30

Authored by Charles Hugh Smith via OfTwoMinds blog,

It's not too difficult to predict a political rebellion against the machinery of soaring wealth and income inequality.

The one constant across the media-political spectrum is an unblinking focus on the stock market as a barometer of the national economy: every major media outlet from the New York Times to Fox News prominently displays stock market action, and TV news anchors' expressions reflect the media's emotional promotion of the market as the end all to be all: if stocks rose, the anchors are smiling and chirpy, and if the market fell then their expressions are downcast and dour.

This cheerleading of the stock market is based on an implicit assumption that the rising stock market raises all boats: a rising market is assumed to reflect an expansion of sales and profits that trickle down to the masses in higher wages, more jobs and rising 401K retirement accounts.


The reality is starkly different: the vast majority of the gains generated by a rising stock market flow to the top 10% households who own 93% of all financial assets, and the gains within the top 10% are highly concentrated in the top .01% of financiers, super-wealthy families and corporate managers who have reaped the vast majority of the past decade of stock market gains.

The 1% grabbed 82% of all wealth created in 2017 (and 2018 and 2019...)

America's Richest 1% Now Own As Much Wealth As The Middle And Lower Classes Combined

As my friend Adam T. recently observed: when we cheer the rising stock market, we're celebrating the super-rich getting even richer. Why are we celebrating an unprecedented widening of wealth inequality that erodes democracy (because the super-wealthy buy political influence) and the social contract (as the vast majority of wealth and power flow to the top .01%)?

Soaring wealth inequality is extremely destabilizing politically, socially and economically: much of the social unrest breaking out around the world can be traced to the political, social and financial disenfranchisement of the masses by super-wealthy elites.

Economically, soaring inequality concentrates and capital and power in the hands of the few, creating fertile ground for cartels and monopolies which raise costs without generating better services or more jobs. This dynamic is easily visible in the U.S.:

The U.S. Only Pretends to Have Free Markets: From plane tickets to cellphone bills, monopoly power costs American consumers billions of dollars a year.

Politically, the 90% who are losing ground seek political redress, generating tension in a political system dominated by the super-wealthy. Since the political machinery is controlled by the elite, the bottom 90%'s efforts to gain political redress will fail: Medicare for All (to take one example of many) is just an expansion of rapacious sickcare cartels that further concentrate wealth and power in the hands of the few at the expense of the many.

(Recall that 40% of Medicare spending is billing fraud, worthless or harmful meds and procedures and paper-pushing. All Medicare for All will accomplish is sickcare CEOs skimming $80 million a year in stock options will skim $160 million.)

In cheering advances in the stock market that benefit the financial and political elite, we're cheering the destabilization of our economy and society. Is that really something worth cheering?

At some point, people will awaken to the fact that the soaring stock market is the primary engine of soaring inequality, the erosion of democracy and the destabilization of the social order.

It's not too difficult to predict a political rebellion against the machinery of soaring wealth and income inequality, which will eventually lead to a severe reduction in the power of the Federal Reserve and its greed-driven dependent, Wall Street.


It's not just wealth that's concentrated in the hands of the top .01%--virtually all the income gains of the past decade of "recovery" have flowed to the top .01%: and the super-wealthy's response? Let them eat brioche , a response so disconnected from reality that it would be humorous were it not a reflection of a completely corrupt and rotten status quo.

https://www.zerohedge.com/markets/stock-market-cheerleading-why-do-we-celebrate-super-rich-getting-richer

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Fri, 11/15/2019 - 10:07 AM

Authored by Jeffrey Snider via Alhambra Investment Partners


Consuelo 👍
Say you were raised in an environment where a high priority was placed upon savings, rejection of debt and prudent use of one's money. Not living under a rock per se, but a healthy knowledge of what has been proven to work over the ages - and what has brought ruin.

And then you come upon something like this article here. What would your gut reaction be...?

JJ Pettigrew 👍
It is impossible to know what has been packaged into a CLO (Collateral Loan Obligation) it seems.

Does this remind anybody of something?


mailll 👍
If an economic crash occurs, all the corporations will take a dive at once.  How will the bond holders collect then? And this would fall under the category of "A worse case scenario". And I still say the banks are being led into a trap by the privately owned Federal Reserve, by buying their treasuries.  The banks will make even more loans and investments with this available cash. So when job losses skyrocket, and the stock market crashes, the banks will loose all that money in their investments, and the people who lost their jobs will no longer be able to pay on their loans. Then the banks themselves will have to liquidate since the fed offered to take their cushion of US treasuries away from them. And this is another worse case scenario.  It may all be a set up in order to make the next crash much, much worse than the 2008 crash.  This may all be turning out to be just a game that even Joshua (War Games) would love to play. Global Thermal Economic Collapse. The new economic 9/11. And this is all just my suspicion, just a conspiracy theory, just a possibility. But there are no signs of anything happening yet, since the job market is still very strong.  So there is still plenty of time for the Fed to buy more treasuries, allow banks to make more investments, and for people who have no business receiving loans to still get them. The bubbles still need more air put into them before the balloons reach full capacity. Bottom line, I don't trust any of them. People who operate behind the wall of absolute secrecy cannot be trusted.  That is how 👹💵🎩🍌🏴 they got away with the 9/11 event, that is how they got away with killing JFK, and whatever else they got away with due to this iron wall of absolute secrecy.


Pedrodusttodust 👍
The fed said it wasn't monetization in 2008 because they would be able to unwind their balance sheet. This was the biggest theft in US history. Somebody should be calling them out and asking them why the balance sheet is similar to what it was 10 years ago. The money ends up in Wall Street's hands (imagine if you could sell worthless pieces of paper to the Fed and they would give you the price you wanted) and they use it to take over everything. Malls, retail, tech, insurance, roads, pensions, utilities, farmland, politicians, regulators, taxation etc. Their ultimate goal is to put you in debt and to own everything. Live simply people and protect your family.  

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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THE WOLF STREET REPORT:

How the 🎩Fed 💵 Boosts the 1% , as Told by the 👹 Fed

by Wolf Richter • Nov 10, 2019
Even the upper middle class loses share of household wealth to the 1%. The bottom half gets screwed.


EXCELLENT comments at the link below:

https://wolfstreet.com/2019/11/10/the-wolf-street-report-how-the-fed-boosts-the-1-as-told-by-the-fed/



Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Agelbert NOTE: The sooner, the better.

Financial Collapse 2019: Insiders Dire Warning About An Unstoppable Economic Collapse
105,658 views•Sep 18, 2019


Peter Gunther
10.2K subscribers
Dear Loyal Subscriber,

He’s a former U.S. Congressman, a distinguished attorney, best-selling author and his work has been featured in The New York Times, National Review and The Wall Street Journal. He’s met and worked closely with Ron Paul, Ronald Reagan, Richard Nixon, Dwight D. Eisenhower, Gerald Ford and George H.W. Bush, to name a few.

And he’s part of a research group that has accurately predicted the dot-com crash of 2000, the recession of the early 1990s and the 1987 crash. But for over a decade he has made a point to stay behind the scenes. That is until now.

Today, something so big has begun to happen in America that he's decided to come out of retirement and reveal his true identity for the first time on this scale. And in this controversial video he will tell you about a coming event that he believes will change your life.

Fortunately,  The Current Global Turmoil In The Financial Markets Makes It An Extremely Opportune Time To Get Into Forex. Finally There Is A Simple Winning Solution For New Novice Traders To Get Started. Invest In A Professional Trader With A Proven Proprietary Trading Strategy:  https://tinyurl.com/k2trades Best Forex Autotrader 4 Years Running: https://secure.binbotpro.com/tiny/Wo8ry

Sincerely,

Peter

Financial Crisis, Oil Price, Global Economic Collapse, Dollar Collapse, Gold, Silver, Bitcoin, Global Reset, New World Order, Economic Collapse, Economic News, Political
Category News & Politics
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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NOV 26, 2019 OPINION FACT

🦀 Trump's Latest Handout to His 🎩 Rich Buddies Is Unbelievable

Breaking news: Donald Trump inadvertently said something true! He recently exulted that his special tax incentives to spur investment in poverty 😉 projects have gone “beyond anything that anybody… even thought.

So true! His “Opportunity  Zone” tax breaks are financing such “anti-poverty” projects as a “superyacht marina” on the toney waterfront of West Palm Beach, Florida.
Who would’ve thought?

Named Rybovich, this project is a “luxurious resort-style” marina that will accommodate the $100-million, football-field-sized yachts of the superrich. Not your typical poverty zone.

It’s being developed by Wayne Huizenga Jr. — the politically connected billionaire who inherited a fortune last year from his father, a corporate baron who owned Blockbuster Video and was a major donor and plutocratic pal of Donald Trump.

Father and son were also big money backers of Rick Scott, the notoriously sleazy Republican governor of (and now senator from) Florida, who had authority under Trump’s Opportunity Zone program to designate which poverty areas were eligible for the multimillion-dollar tax subsidies.

Obviously, an opulent superyacht marina does not qualify. But money talks.

Huizenga Jr. simply asked his buddy the governor to give the tax break to him, and Scott waved his magic gubernatorial wand and transformed the posh marina into a poverty zone — an area in which Huizenga himself had just bought a $5 million house. The tax subsidy he’s been given could cover the cost of that house — but we won’t know, since Trump’s law requires no disclosure of who gets how much of a tax handout.

Even more disgusting is that, since the law limits the number of Opportunity Zone projects, slipping in the Huizenga’s luxury Marina meant that an actual poverty-stricken area in Florida got rejected by the governor. Plutocracy in action.

RELATED ARTICLES

The Rule of the Uber-Rich Means Tyranny or Revolution
BY CHRIS HEDGES

The Secret to Living Longer Is Being Rich, Study Reveals
BY ILANA NOVICK

The Wealthiest Americans Haven’t Paid Their Fair Share in Decades
BY ILANA NOVICK

https://www.truthdig.com/articles/trumps-latest-move-to-help-his-rich-buddies-is-truly-unbelievable/
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Agelbert NOTE: Follow the (Oligarchs' Ass Saving) Funny Money Comment of the Day (valid now for about a year - see the December 24, 2018 graphic of the Mnuchin grifter before comment):


Quote
crypt007

Like it or not the elite super rich in the US (and Rothschild) control the world, and they are very very concerned that their favorite elite candidate trump is going to lose the next presidential election. It is crystal clear that the 😈💵🎩 PPT in the US is actively acting to protect trump's re-election by elevating and keeping the US markets inflated.

But, who are they? They are: (PPT) = Goldman Sachs, JP Morgan, Citibank, Bank of America, Wells Fargo, Morgan Stanley. They act according to the orders and desires of Mnuchin (US Treasury) and JPowell (Federal Reserve). But who tells JPowell and Mnuchin what to do?

Obviously, the mobster pig scum Orange Swine 🐽 Trump.

Associated article:

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Are These Signs of Oncoming Economic Disaster?
« Reply #696 on: December 05, 2019, 08:12:25 pm »
Are These Signs of Oncoming Economic Disaster?
18,754 views•Dec 3, 2019


Thom Hartmann Program
199K subscribers

A perfect storm of economic and world geopolitical indicators are coming together to put an economic disaster in our future.
 
🔴 Subscribe for more clips like this: https://www.youtube.com/user/thomhart...

Do you think that these forces coming together will put us in war or into a second great depression?

⭐ Join our Membership and Support the Channel:  https://www.youtube.com/user/thomhart...
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Can We Do Better Than Capitalism? (w/ Richard Wolff)
2,115 views•Dec 5, 2019


Thom Hartmann Program
199K subscribers

Capitalism could be the biggest problem. Professor Wolff says its time to get rid of it rather than reform it!
 
🔴 Subscribe for more clips like this: https://www.youtube.com/user/thomhart...

What would you like to see replace capitalism and how would you achieve it? 

🔥 WATCH NEXT:  Marxism vs Communism

📕 BOOK: - Understanding Marxism - https://www.amazon.com/Understanding-...

⭐ Join our Membership and Support the Channel:  https://www.youtube.com/user/thomhart...
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Re: Money
« Reply #698 on: December 06, 2019, 05:03:48 pm »
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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The U-Turn That Turned America Staggeringly Unequal
« Reply #699 on: December 06, 2019, 11:08:13 pm »
The U-Turn That Turned America Staggeringly Unequal

December 5, 2019 | EDUCATE!

By Bob Lord, Inequality.org

SNIPPET:

Wealth in America has concentrated — and dramatically so — over the past four decades. Since 1980, note wealth researchers Emmanuel Saez and Gabriel Zucman, the top 0.1 percent share of the nation’s total wealth has more than doubled, from under 10 percent in 1980 to over 20 percent today. In a nation of over 125 million households, just one ten-thousandth of those households — some 12,500 — now control over 10 percent of our wealth. But can numerical abstractions like these help us truly grasp the reality of the inequality that’s overtaken America? Or are these numbers too, well, abstract?

Full article: :o
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

AGelbert

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Richard Wolff On 👹 Reaganomics
« Reply #700 on: December 07, 2019, 12:39:48 am »
Richard Wolff On Reaganomics
116,663 views•Jul 13, 2017


trustylimbs🗺️
33.7K subscribers

Richard Wolff Interview On The Negative Results Of Reaganomics. A Modern History Lesson In American Economics.

Category Nonprofits & Activism
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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