Loading ...Unfortunately most of the repatriated money–as he points out–has gone for stock buybacks which boost the shares so that the top execs can cash out…little goes to new plant and equipment and new hiring–he also rightly speaks of intergenerational theft which is a phenomenon that few understand because the “financialisation” of the economy has been going on for so long…Wall St HAS looted the economy with its “sophisticated” derivative instruments…the con job is very slick and subtle and I don’t have time to skin it now–but think about just one item and u will realize what I mean=namely the phenomenon of near zero interest rates that have ROBBED savers in order to support the 900 story JPM-DB-BAC-C-WFC derivatives tower…
Even the White House’s own rosy forecast acknowledges that the deficit will exceed 5 percent of the overall economy next year — a level it has previously reached only after deep recessions when unemployment topped 10 percent. Today, the economy is near full employment.
The only thing that has changed in the past 10 years is that back in 2008 there was only one Bernie Madoff, whereas now there is an entire political party full of them. The transformation to banana republic, replete with thieving dictatorship, is now complete.
“Dallas Fed President Robert Kaplan said Tuesday he would like to see three or four more “gradual” interest-rate hikes…the shape of the curve suggests to me we are ‘late’ in the economic cycle”
“Dallas Fed President Robert Kaplan said Tuesday he would like to see three or four more “gradual” interest-rate hikes…the shape of the curve suggests to me we are ‘late’ in the economic cycle”
Inter-generational theft has reached a new all time level of debauchery even by Madoff standards…
“Why didn’t anyone try this sooner? What fools”
The Republican Party is now human history’s biggest crime syndicate without any comparison:
“the Treasury Department expects to borrow more than $750 billion to pay its bills during the last six months of this year”
Even the White House’s own rosy forecast acknowledges that the deficit will exceed 5 percent of the overall economy next year — a level it has previously reached only after deep recessions when unemployment topped 10 percent. Today, the economy is near full employment.
Anyone who actually studied Keynesian Economics would know that proper implementation calls for running deficits during recessions and surpluses during expansions. The party of tax cut profligacy runs deficits during good times and bad times. Because it’s “free money”.