“Having created this asset bubble, again, in conjunction with the financiers and Wall Street, the Fed is deathly afraid of anything that will break the mirage and put the banking system at risk.
And we are seeing, like a dog returns to its vomit, the Banks start taking up the kinds of leveraged risks that brought us to the brink in the great unwinding of the housing bubble in 2008.
Surely they must care. Surely they must have a caution for the damage they will cause to untold thousands of innocents. And if not the money men, then those who are sworn to restrain their greed.
As John Kenneth Galbraith observed in his masterwork, The Great Crash of 1929, ‘The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.’
And you can toss in the political and corporate media elite in there as well. It’s a club, and you aren’t in it.”
Jesse
The quote “It’s a big club and you and me are not in it !”
Came from George Carlin . He also said the government representitives don’t give a fuck about you at all because average working Americans , good honest hard working people were thrown overboard then 30 but now it’s nearly 50 years ago . Our pensions were intentionally underfunded our jobs that truly paid wages and benefits were gutted to the benefit of a small minority wealthy enough to support politicians bought through elaborate sceams of funding from Wall Street to K-Street to Capitol Street and when this circle jerk hit the wall as it was destined to do what happened . The powers that be scurried about like cats covering up shit ! Who did they bail out ? The wealthy minority and Mr and Mrs Average American got raped financially over and over again !
Now those rape victims were handed the bill for the bail out of the criminal class in control . Pensions evaporate savings earn no intrest and your buying power destroyed our children indebted to a government collection agency paying for an education for a job that does not exist wages stagnent ! But the stock market is up and government reps retirement and salaries have never been better . I could go on and on but what’s the use this sight is being crushed by the very same power that controls everything . Be prepared to duck and cover this cannot end well for any of us refusing to yield !
Meet the new problem – the Total Return Swap.
https://www.investopedia.com/terms/t/totalreturnswap.asp
You’ll need popcorn, soon I’d guess.