You can't take credit, you armchair politicians.
While you were hiding in your cafes and your underground pubs, the world
went and changed.
Now we're headed into worse territory.
We are now in a new period where the bankers rule the planet,
and governments do their bidding.
what Max Keiser calls the Casino Gullag
[essential reading for the casino]
The casino is for the big boys, and the gullag is for the rest of us.
[essential reading for the casino]The casino is for the big boys, and the gullag is for the rest of us.
rigged markets are the norm.
the US stock market has rising values
and yet low volume of trades.
Meaning?= robo trades and fake trades
to make fees for bankers.
Even if we have money, we can't get savings interest
because the rates are set low for the banks (free money).
Companies can't get loans, so no good jobs.
Watch it and weep.
J.S. Kim On the Edge with M Keiser
the US stock market has rising values
and yet low volume of trades.
Meaning?= robo trades and fake trades
to make fees for bankers.
Even if we have money, we can't get savings interest
because the rates are set low for the banks (free money).
Companies can't get loans, so no good jobs.
Watch it and weep.
J.S. Kim On the Edge with M Keiser
One happy note. JS says that when the middle class becomes part of the
poverty class
then it's revolution time.
Until then, the anarchists and communists can go back to dreaming
about utopia.
then it's revolution time.
Until then, the anarchists and communists can go back to dreaming
about utopia.
checkitout: 2 things
1
techcrunch
Why The Groupon IPO Feels Like A Swindle
Tweet- Erick Schonfeld
12 hours ago
Erick Schonfeld@erickschonfeld
Erick Schonfeld
The reason the Groupon IPO feels like a swindle is because profits are nowhere in sight and founders are saying trust us while they pocket $
2 zerohedge
There's Your Problem Right There ... Insider Trading Rules Don’t Apply To Congress
Submitted by George Washington on 06/03/2011 19:40 -0400
Well, there's your problem right there ...
I've repeatedly pointed out that Wall Street executives are incentivized to lie, cheat and steal. So - of course - they will continue to lie, cheat and steal.
I've repeatedly noted that Wall Street owns the politicians:
* Lobbyists from the financial industry have paid hundreds of millions to Congress and the Obama administration. They have bought virtually all of the key congress members and senators on committees overseeing finances and banking. The Congress people who receive the most money from lobbyists are the most opposed to regulation. See this, this, this, this, this, this, and this.
* Obama received more donations from Goldman Sachs and the rest of the financial industry than almost anyone else
* Summers and the rest of Obama's economic team have made many millions - even in the first few months of being appointed, or right beforehand - from the financial industry
* Two powerful congressmen said that banks run Congress
* Two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City have all said that the United States is controlled by an oligarchy
The chairman of the Department of Economics at George Mason University (Donald J. Boudreaux) says that it is inaccurate to call politicians prostitutes. Specifically, he says that they are more correct to call them "pimps", since they are pimping out the American people to the financial giants:
Real whores, after all, personally supply the services their customers seek. Prostitutes do not steal; their customers pay them voluntarily. And their customers pay only with money belonging to these customers.
In contrast, members of Congress routinely truck and barter with other people's property...
Members of Congress are less like whores than they are like pimps for persons unwillingly conscripted to perform unpleasant services.
Politicians force taxpayers to pony it up -- just as the services rendered for a pimp's customers are rendered not by that pimp personally, but by the ladies under his charge. The pimp pockets the bulk of each payment; he's pleased with the transaction. His customer gets serviced well in return; he's pleased with the transaction. The only loser is the prostitute forced to share her precious assets with strangers whom she doesn't particularly care for and who care nothing for her.
Also like the ladies under pimps' power, taxpayers who resist being exploited risk serious consequences to their persons and pocketbooks. Uncle Sam doesn't treat kindly taxpayers who try to avoid the obligations that he assigns to them. Government is a great deal more powerful, and often nastier, than is the typical taxpayer. Practically speaking, the taxpayer has little choice but to perform as government demands.
So to call politicians "whores" is to unduly insult women who either choose or who are forced into the profession of prostitution. These women aggress against no one; like all other respectable human beings, they do their best to get by as well as they can without violating other people's rights.
The real villains in the prostitution arena are those pimps who coerce women into satisfying the lusts of strangers. Such pimps pocket most of the gains earned by the toil and risks involuntarily imposed upon the prostitutes they control. No one thinks this arrangement is fair or justified. No one gives pimps the title of "Honorable." Decent people don't care what pimps think or suppose that pimps have any special insights into what is good or bad for the women under their command. Decent people don't pretend that pimps act chiefly for the benefit of their prostitutes. Decent people believe that pimps should be in prison.
Yet Americans continue to imagine that the typical representative or senator is an upstanding citizen, a human being worthy of being feted and listened to as if he or she possesses some unusually high moral or intellectual stature.
It's closer to the truth to see politicians as pimps who force ordinary men and women to pony up freedoms and assets for the benefit of clients we call "special-interest groups."
But it's not only that the politicos have been bought and paid for. They - like Wall Street titans - are incentivized to lie, cheat and steal.
Specifically, Congress members and Senators can trade on inside information.
As Forbes' blogger Kyle Smith notes:
One thing you can do as a member [of the House or Senate] is study pending legislation and regulatory changes, call up your broker and instruct him to trade on that nonpublic information. Do this as often as you want; you will suffer no penalty. There is no limit to how much money you can earn on insider trading in the House or Senate. Lawmakers and their staffers are specifically exempted.
...
Last week a study of some 16,000 stock transactions carried out by House members was published in the journal Business and Politics. This detailed analysis showed that the investment portfolios of House members beat the market by about six points a year. (Democrats did especially well, outperforming by some nine points a year, while Republicans topped the average investor by only two percent annually.) Senators apparently do even better: “their portfolios show some of the highest excess returns ever recorded over a long period of time, significantly outperforming even hedge fund managers,” noted the journal, citing a previously published study.
1
techcrunch
Why The Groupon IPO Feels Like A Swindle
Tweet- Erick Schonfeld
12 hours ago
Erick Schonfeld@erickschonfeld
Erick Schonfeld
The reason the Groupon IPO feels like a swindle is because profits are nowhere in sight and founders are saying trust us while they pocket $
2 zerohedge
There's Your Problem Right There ... Insider Trading Rules Don’t Apply To Congress
Submitted by George Washington on 06/03/2011 19:40 -0400
Well, there's your problem right there ...
I've repeatedly pointed out that Wall Street executives are incentivized to lie, cheat and steal. So - of course - they will continue to lie, cheat and steal.
I've repeatedly noted that Wall Street owns the politicians:
* Lobbyists from the financial industry have paid hundreds of millions to Congress and the Obama administration. They have bought virtually all of the key congress members and senators on committees overseeing finances and banking. The Congress people who receive the most money from lobbyists are the most opposed to regulation. See this, this, this, this, this, this, and this.
* Obama received more donations from Goldman Sachs and the rest of the financial industry than almost anyone else
* Summers and the rest of Obama's economic team have made many millions - even in the first few months of being appointed, or right beforehand - from the financial industry
* Two powerful congressmen said that banks run Congress
* Two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City have all said that the United States is controlled by an oligarchy
The chairman of the Department of Economics at George Mason University (Donald J. Boudreaux) says that it is inaccurate to call politicians prostitutes. Specifically, he says that they are more correct to call them "pimps", since they are pimping out the American people to the financial giants:
Real whores, after all, personally supply the services their customers seek. Prostitutes do not steal; their customers pay them voluntarily. And their customers pay only with money belonging to these customers.
In contrast, members of Congress routinely truck and barter with other people's property...
Members of Congress are less like whores than they are like pimps for persons unwillingly conscripted to perform unpleasant services.
Politicians force taxpayers to pony it up -- just as the services rendered for a pimp's customers are rendered not by that pimp personally, but by the ladies under his charge. The pimp pockets the bulk of each payment; he's pleased with the transaction. His customer gets serviced well in return; he's pleased with the transaction. The only loser is the prostitute forced to share her precious assets with strangers whom she doesn't particularly care for and who care nothing for her.
Also like the ladies under pimps' power, taxpayers who resist being exploited risk serious consequences to their persons and pocketbooks. Uncle Sam doesn't treat kindly taxpayers who try to avoid the obligations that he assigns to them. Government is a great deal more powerful, and often nastier, than is the typical taxpayer. Practically speaking, the taxpayer has little choice but to perform as government demands.
So to call politicians "whores" is to unduly insult women who either choose or who are forced into the profession of prostitution. These women aggress against no one; like all other respectable human beings, they do their best to get by as well as they can without violating other people's rights.
The real villains in the prostitution arena are those pimps who coerce women into satisfying the lusts of strangers. Such pimps pocket most of the gains earned by the toil and risks involuntarily imposed upon the prostitutes they control. No one thinks this arrangement is fair or justified. No one gives pimps the title of "Honorable." Decent people don't care what pimps think or suppose that pimps have any special insights into what is good or bad for the women under their command. Decent people don't pretend that pimps act chiefly for the benefit of their prostitutes. Decent people believe that pimps should be in prison.
Yet Americans continue to imagine that the typical representative or senator is an upstanding citizen, a human being worthy of being feted and listened to as if he or she possesses some unusually high moral or intellectual stature.
It's closer to the truth to see politicians as pimps who force ordinary men and women to pony up freedoms and assets for the benefit of clients we call "special-interest groups."
But it's not only that the politicos have been bought and paid for. They - like Wall Street titans - are incentivized to lie, cheat and steal.
Specifically, Congress members and Senators can trade on inside information.
As Forbes' blogger Kyle Smith notes:
One thing you can do as a member [of the House or Senate] is study pending legislation and regulatory changes, call up your broker and instruct him to trade on that nonpublic information. Do this as often as you want; you will suffer no penalty. There is no limit to how much money you can earn on insider trading in the House or Senate. Lawmakers and their staffers are specifically exempted.
...
Last week a study of some 16,000 stock transactions carried out by House members was published in the journal Business and Politics. This detailed analysis showed that the investment portfolios of House members beat the market by about six points a year. (Democrats did especially well, outperforming by some nine points a year, while Republicans topped the average investor by only two percent annually.) Senators apparently do even better: “their portfolios show some of the highest excess returns ever recorded over a long period of time, significantly outperforming even hedge fund managers,” noted the journal, citing a previously published study.
