Of Course it works for Trump. He and Musk who are so concerned with ‘waste and fraud’, are now getting richer every minute .
The lying never ends for these people . The market crashing is festival time for them.
No wonder all the lies about the ‘Market re- booting itself’ .
Right now the only ‘constant ‘is disaster for the population living paycheck to paycheck.
The Department of Education , destroyed.
The Veterans Benefits and employment destroyed.
USAID destroyed.
Etc , etc and Trump says “ Elons doing a fabulous job cutting waste”.
We are the ‘Waste’ .
The people who depend on their jobs to live .
The people who thought they lived in a country with free speech. No more.
They want to deport people who exercised free speech rights under the Biden administration, where it was legal, are now being kidnapped by Trumps direct order, removed from their homes and threatened with deportation now because were no longer free under Trump.
These people are ruthlessly cruel.
They blame Biden for everything.
They are trying to force any person who is not wealthy to homelessness or worse. Ruining Healthcare attempting to destroy Medicare, Social Security, Medicaid.
What will happen to those retired people , disabled people, children who receive lifesaving aid around the world , many now dead of starvation at the hand of these false” Christians” .
Well , they don’t care they just refuse any rights to people who are not wealthy .
That’s where we are under Trump/ Musk Acquisition Coalition.
Constantly typing Trump/Musk is too inconvient. I call them Trusk now.
Musk lives in a fantasy world, he has no idea of how society works, or what has made America the economic powerhouse.
He defaults to magical thinking, that America is a cornucopia, which spits out money, regardless.
He is named after the leader of Mars, in Wehrner von Brauns book, The Mars Project.
In the book the leader is called the Elon.
Musk's parents were neo NAZI's, his grandfather was a Canadian NAZI that migrated to white ruled South Africa, . Musk inherited from his father Elon Musk's father, Errol Musk, a stake in, or received a portion of the emeralds produced from, three Zambian emerald mines,
Musks sole ambition, his driving force is to be the Elon on Mars, he is a man child living in a fantasy world, and he sees America as an ATM machine, whose resources are being misdirected towards social needs and defense, and believes that he can cut all funding which he considers a waste and redirect it to his obsession to Occupy Mars.
He has no idea how an economy, how our economy works. If America is the goose that lays the golden eggs, then he is burning up all of the corn and seeds needed to feed the goose.
It is happening right before our eyes, Trusk is turning America into a shit hole country, and they (we) can't see it because we are still living off the accumulated fat and stored energy (muscle)
Where is FDR or Eleanor - or solid replacements - when we need them? Actually, they do exist in Bernie and Liz, each of whom is out in the huskings right now and drawing big crowds. We ignore what they're saying and why people are flocking to them, at our peril.
So true Thom: as Rachel Maddow documents in her book Prequel, the German American Bund, the American NAZI party, the Silver Shirts, the America First movement all swelled their ranks during the recession, and had not Japan bombed Pearl Harbor German would be our second language, east of the Mississippi. West of the Mississippi, Japanese
The depresssion was a boon for the connected elite. While the men stood in soup lines, or camped on the shorts of San Francisco Bay, waiting for some poor riveter to plunge to his death, so he could take his place, while women like my grandmother baked pies and took in laundry and pulled her daughters out of school that they could go to work and earn money to feed the family and pay rent, movie stars, movie producers, millionaires the nations elite were buying jewels, furs, mansions and the expensive cars that are considered high valued classics like Cord, Auburn, Packard, Cadillac.
From the depression to masters of war. WWII improved things economically to the detriment of our national treasure.
When we lost the seamless pipe industry in the '70s, Youngstown, alreaady the murder capitol of America, also became the suicide capitol.
During the Savings and Loan crisis, the partners of one of the biggest firms in Miami went to the tallest building south of Philadelphia, held hands and jumped.
GWB and the Republicans shamelessly crashed the market. If only we'd bought Bitcoin in 2009! Bitcoin had a price of zero when it was introduced in 2009. Its price jumped from its long-held level of $0.10 to $0.20 on Oct. 26, 2010. Early this year it hit $100,000.00 a coin.
Bitcoin was the mental product of libertarians, who believed (believe) that the government just prints money. (All medium of exchange is fiat, or faith money, even gold and silver, for it relies on the faith of people that it has value)
Anyway, they invented this money which is created, brought into existence by some dude who could be sitting at a keyboard in his underwear. How many people have bought crypto only to find themselves metaphorically jumping off the tallest building in south Phillie.
And here is the truth, no no stops to think about. To obtain Crypto, if you aren't the guy with the keyboard (like Trusk) you have to use an official currency that serves as the medium of exchange, and if you want to buy something with crypto, it has to eventually be converted into that medium of exchange.
Therefore it is a scam, like a pyramid scam, first in one reaps rewards, last one in is burned. Digital Amway.
I do not understand.Bitcoin is presently valued at $100,000 you said,it first sold for $.10, and price is dropping, that means it is not a finite amount.
They were created in 2008-9 by a mysterious charachter who has disappeared. No different than a lot of securiies. Takes a kind of faith --- the suspension of disbelief.
Similar to tulip bulbs as currency in 17th century Holland.
The Tulip bulb bubble was one of the first things taught in my Finance class. that and he South Sea bubble.
Seems that the Captain of a ship had this tulip bulb worth millions on his desk, and then noticed the bulb was missing, After inquiry it was learned that the cook thought it was an onion.
Do I ever remember the Đong, what Americans called the P or Piastre.
When I stepped off the plane at Tan Son Nhut, along with the other 60 who were hurriedly given orders in preparation for Operation Junction City, we were met by senior sergeants who wanted to know who had dollars and they would exchange them. Months later they were court martialed
G.I.s were making big bucks by buying refrigerators, air conditioners and speakers at Cholon and selling them to the Vietnamese. there was a currency exchange involved as well.
I guess a lot of G.I.s got nooky for cigs, I, uh, got souveniered , about the only thing a G.I. could barter for was nooky, Ba Moui Ba and pho.
I've been saying Trumpsk are only in it for the money. I had forgotten about the puts and calls strategies. They are made for insider trading. No IG's, layalists manning the SEC, and no fear of DOJ and FBI. Trumpsk must be having wet dreams every night.
I guess when you're a multi-billionaire you really can do what you want. There is nothing to stop them from steamrolling the economy & the people as well. We are all pawns in their economic chess game!
I'd like to have hope & work to get to the point I have hope but sometimes I feel like I'm fooling myself. Every time I see something so awful or outlandish in the news I think maybe this will stop the train only to see it overshadowed by the next chess move !
Checkmate against the population of the US & the world.
Can anybody tell me why we even have a stock market? All I see in it is a long-running scheme to appropriate the wealth created by workers and reassign it to the already-rich. Shares in a company should rightly go to the employees of that company--they are the only ones who are earning anything.
There is more fraud, waste and abuse in the market, and in private business generally than in our government. Most of the safeguards -- the SEC, FTC, etc would wlork to eliminate the con aspect theoretically.
NYSE is not the only stock market in the world. They even have them in communnist countries.
Mr. Hobbs, you are describing socialism, collectivism, cooperatives. The Basques have done it. This is one of the reasons the wealthy in Madrid fear them. Even though Spain's economy is currently humming along well the elite STILL fear collectivism. Greed is the name of the capitalist game.
Oh, fuck, I need some more gummies. I don't have any do-overs left. The 2009 recession almost killed me. We lost just about everything. Our mortgage company was Washington Mutual. One big giant ponzi scheme. We lived in our home for 19 years. My husband's 6 figure income went to shit. Then he got seriously injured at work. They company I worked for shut down. We had to liquidate our retirement funds to survive. These motherfuckers take and take. We are their goddamn collateral damage. They all will step on our dead bodies on their way to power.
They're going to do it again. Well, they are doing it. That's why King Shitpants doesn't care about markets. Why break tradition with fucking us over? No one will stop them. No one will protect us. Everybody has their hands out. Mother fucking buttplugs. I hate them all. Fuck!!!! The United States sucks a bag of dirty dicks.
Unfortunately (pun intended), the Democratic donor class also benefits from this sort of manipulation, which is why Democratic “leadership” is loathe to forcefully address the issue. This article offers grounds for some seriously potent attack lines, if only the entrenched establishment would step up.
I asked AI what to do. "Have sufficient emergency reserves. Layoffs often occur during recessions. So, it's best to be proactive and save in advance of potential cuts. Ending unnecessary subscriptions, or other forms of entertainment can help people supplement their emergency budget." I was referred to a Time article. https://time.com/7266970/how-to-prepare-for-a-recession/
Most of our income is fixed income. No way to beat inflation.
For stock, mutual funds, etc., the experts say hold cash. I represented some brokers in my former life, and they say "short" "growth" funds. My experience is the brokers always get their fees, whether or not it works.
Buy, let it build, crash it, Wash, rinse, repeat. What a country!
Meanwhile, the rest of us peons just keep working for THEM. It is their Golden Age. They get the gold and we just age from all that worry and work. I think I just found the phrase for my new protest sign.
I do get something out of going to demonstrations. I meet a lot of new Democrats and independents---some are young and some are old. I treasure them equally, because they are WOKE.
While I can't disagree with the gist of your article, let us note that all of the oligarchs in question, from Musk to Bezos to Zuckerberg, became billions richer under Biden as he himself promised them in 2019 (when he told a roomfull of billionaires that their lifestyle would not fundamentally change under his presidency). Obama had at least a dozen Wall Street hundred millionaires in his cabinet, Biden had these infuences and Raytheon board member Llyod Austin as his Secretary of Defense, so the revolving door of oligarchs and influencers has just become less opaque under Trump. Not at all defending his chaos and random dismantling of governmental agencies, but without the Democrats joining in the infiltration of government by special interests and oligarchs Trump could never have gotten this far. https://barryjkaufmando.substack.com/p/the-empire-strikes-backat-itself
I remember a commercial from the 1970's or 80"s. A giant, rich CEO at his desk smoking a cigar, and a tiny worker standing in an ashtray asking for a raise. The CEO laughed and started to put out the cigar in the ashtray, fade to black. That is exactly what we are to them, means to their end game. Would like to find the commercial and share it on social media with a modern spin.
And I call it goodby retirement account .. @ age 76 I need to go back to work to make up for the recent market collapse .. wtf .. can’t somebody stop these assholes
Wondering when the small guy supporting their own demise is going to wake up? Loss of social security and more on medicaid. Medicaid elimination would mean a lot of old people losing their nursing home care and put out in the streets like the homeless as Reagan did in the 80's. Repubs seem to love homelessness and want more of it. A few cold days brings out the harvester reducing the "problem" year by year.
Of Course it works for Trump. He and Musk who are so concerned with ‘waste and fraud’, are now getting richer every minute .
The lying never ends for these people . The market crashing is festival time for them.
No wonder all the lies about the ‘Market re- booting itself’ .
Right now the only ‘constant ‘is disaster for the population living paycheck to paycheck.
The Department of Education , destroyed.
The Veterans Benefits and employment destroyed.
USAID destroyed.
Etc , etc and Trump says “ Elons doing a fabulous job cutting waste”.
We are the ‘Waste’ .
The people who depend on their jobs to live .
The people who thought they lived in a country with free speech. No more.
They want to deport people who exercised free speech rights under the Biden administration, where it was legal, are now being kidnapped by Trumps direct order, removed from their homes and threatened with deportation now because were no longer free under Trump.
These people are ruthlessly cruel.
They blame Biden for everything.
They are trying to force any person who is not wealthy to homelessness or worse. Ruining Healthcare attempting to destroy Medicare, Social Security, Medicaid.
What will happen to those retired people , disabled people, children who receive lifesaving aid around the world , many now dead of starvation at the hand of these false” Christians” .
Well , they don’t care they just refuse any rights to people who are not wealthy .
That’s where we are under Trump/ Musk Acquisition Coalition.
Constantly typing Trump/Musk is too inconvient. I call them Trusk now.
Musk lives in a fantasy world, he has no idea of how society works, or what has made America the economic powerhouse.
He defaults to magical thinking, that America is a cornucopia, which spits out money, regardless.
He is named after the leader of Mars, in Wehrner von Brauns book, The Mars Project.
In the book the leader is called the Elon.
Musk's parents were neo NAZI's, his grandfather was a Canadian NAZI that migrated to white ruled South Africa, . Musk inherited from his father Elon Musk's father, Errol Musk, a stake in, or received a portion of the emeralds produced from, three Zambian emerald mines,
Musks sole ambition, his driving force is to be the Elon on Mars, he is a man child living in a fantasy world, and he sees America as an ATM machine, whose resources are being misdirected towards social needs and defense, and believes that he can cut all funding which he considers a waste and redirect it to his obsession to Occupy Mars.
He has no idea how an economy, how our economy works. If America is the goose that lays the golden eggs, then he is burning up all of the corn and seeds needed to feed the goose.
It is happening right before our eyes, Trusk is turning America into a shit hole country, and they (we) can't see it because we are still living off the accumulated fat and stored energy (muscle)
Impeach. Feathers of Hope. https://jerryweiss.substack.com/p/remove-impeach-impeach
Where is FDR or Eleanor - or solid replacements - when we need them? Actually, they do exist in Bernie and Liz, each of whom is out in the huskings right now and drawing big crowds. We ignore what they're saying and why people are flocking to them, at our peril.
It's almost as if the Stock Market were a legal Ponzi Scheme. I know it isn't, by definition, but a rigged scheme it is for sure.
Fundamentally. As my 'ol pappy would say, social science (i.e. finance) is to science as maturbation is to fornication.
My favorites are the "market makers" in the unregulated markets.
At one time there were seroious discussions that all himan error would be eliminiated if there were direct sales and no market makers or brokers.
So true Thom: as Rachel Maddow documents in her book Prequel, the German American Bund, the American NAZI party, the Silver Shirts, the America First movement all swelled their ranks during the recession, and had not Japan bombed Pearl Harbor German would be our second language, east of the Mississippi. West of the Mississippi, Japanese
The depresssion was a boon for the connected elite. While the men stood in soup lines, or camped on the shorts of San Francisco Bay, waiting for some poor riveter to plunge to his death, so he could take his place, while women like my grandmother baked pies and took in laundry and pulled her daughters out of school that they could go to work and earn money to feed the family and pay rent, movie stars, movie producers, millionaires the nations elite were buying jewels, furs, mansions and the expensive cars that are considered high valued classics like Cord, Auburn, Packard, Cadillac.
From the depression to masters of war. WWII improved things economically to the detriment of our national treasure.
When we lost the seamless pipe industry in the '70s, Youngstown, alreaady the murder capitol of America, also became the suicide capitol.
During the Savings and Loan crisis, the partners of one of the biggest firms in Miami went to the tallest building south of Philadelphia, held hands and jumped.
GWB and the Republicans shamelessly crashed the market. If only we'd bought Bitcoin in 2009! Bitcoin had a price of zero when it was introduced in 2009. Its price jumped from its long-held level of $0.10 to $0.20 on Oct. 26, 2010. Early this year it hit $100,000.00 a coin.
Great comment Daniel, thanks.
A question, or is it a comment, about bitcoin.
Bitcoin was the mental product of libertarians, who believed (believe) that the government just prints money. (All medium of exchange is fiat, or faith money, even gold and silver, for it relies on the faith of people that it has value)
Anyway, they invented this money which is created, brought into existence by some dude who could be sitting at a keyboard in his underwear. How many people have bought crypto only to find themselves metaphorically jumping off the tallest building in south Phillie.
And here is the truth, no no stops to think about. To obtain Crypto, if you aren't the guy with the keyboard (like Trusk) you have to use an official currency that serves as the medium of exchange, and if you want to buy something with crypto, it has to eventually be converted into that medium of exchange.
Therefore it is a scam, like a pyramid scam, first in one reaps rewards, last one in is burned. Digital Amway.
Supposed to be a finite amount. Prices are dropping, however.
crypto is suppose to be a finite amount?
I do not understand.Bitcoin is presently valued at $100,000 you said,it first sold for $.10, and price is dropping, that means it is not a finite amount.
Yo no comprende, señor
The number of coins is suppposedly fixed, finite, threre won't be more of them
I see, but who creates the coins? Like I said some clown in his undies in front of a keyboard. What a racket we can all become Sam Bankman Friedmans.
They were created in 2008-9 by a mysterious charachter who has disappeared. No different than a lot of securiies. Takes a kind of faith --- the suspension of disbelief.
Similar to tulip bulbs as currency in 17th century Holland.
The Tulip bulb bubble was one of the first things taught in my Finance class. that and he South Sea bubble.
Seems that the Captain of a ship had this tulip bulb worth millions on his desk, and then noticed the bulb was missing, After inquiry it was learned that the cook thought it was an onion.
I'm sure you remember GI currency -- we weren't permitted to have "greenbacks" and what it did to the piaster in Vietnam.
We would also barter; we got free cigafettes in our "sundry pacs" in th field. Non-smokers could make a bundle.Unfortuately, I was hooked....
Do I ever remember the Đong, what Americans called the P or Piastre.
When I stepped off the plane at Tan Son Nhut, along with the other 60 who were hurriedly given orders in preparation for Operation Junction City, we were met by senior sergeants who wanted to know who had dollars and they would exchange them. Months later they were court martialed
G.I.s were making big bucks by buying refrigerators, air conditioners and speakers at Cholon and selling them to the Vietnamese. there was a currency exchange involved as well.
I guess a lot of G.I.s got nooky for cigs, I, uh, got souveniered , about the only thing a G.I. could barter for was nooky, Ba Moui Ba and pho.
What was your choice?:)
I agree with that analogy. I still marvel at the way in which cultured, rich people fell for the tulip scheme.
I've been saying Trumpsk are only in it for the money. I had forgotten about the puts and calls strategies. They are made for insider trading. No IG's, layalists manning the SEC, and no fear of DOJ and FBI. Trumpsk must be having wet dreams every night.
I guess when you're a multi-billionaire you really can do what you want. There is nothing to stop them from steamrolling the economy & the people as well. We are all pawns in their economic chess game!
I'd like to have hope & work to get to the point I have hope but sometimes I feel like I'm fooling myself. Every time I see something so awful or outlandish in the news I think maybe this will stop the train only to see it overshadowed by the next chess move !
Checkmate against the population of the US & the world.
Can anybody tell me why we even have a stock market? All I see in it is a long-running scheme to appropriate the wealth created by workers and reassign it to the already-rich. Shares in a company should rightly go to the employees of that company--they are the only ones who are earning anything.
There is more fraud, waste and abuse in the market, and in private business generally than in our government. Most of the safeguards -- the SEC, FTC, etc would wlork to eliminate the con aspect theoretically.
NYSE is not the only stock market in the world. They even have them in communnist countries.
Mr. Hobbs, you are describing socialism, collectivism, cooperatives. The Basques have done it. This is one of the reasons the wealthy in Madrid fear them. Even though Spain's economy is currently humming along well the elite STILL fear collectivism. Greed is the name of the capitalist game.
They are feared because they blow up Spanish institutions indiscriminately. They are anarchists. Actually there is no Basque government in Spain.
He is certainly grabbing and fingering with both hands.
Wait till he starts in on bilking the billionaires. The howling
of the wolves in the dark will be deafening, but that's what
HItler and Stalin did, killed or jailed the allied ones who put them in power.
Oh, fuck, I need some more gummies. I don't have any do-overs left. The 2009 recession almost killed me. We lost just about everything. Our mortgage company was Washington Mutual. One big giant ponzi scheme. We lived in our home for 19 years. My husband's 6 figure income went to shit. Then he got seriously injured at work. They company I worked for shut down. We had to liquidate our retirement funds to survive. These motherfuckers take and take. We are their goddamn collateral damage. They all will step on our dead bodies on their way to power.
They're going to do it again. Well, they are doing it. That's why King Shitpants doesn't care about markets. Why break tradition with fucking us over? No one will stop them. No one will protect us. Everybody has their hands out. Mother fucking buttplugs. I hate them all. Fuck!!!! The United States sucks a bag of dirty dicks.
Unfortunately (pun intended), the Democratic donor class also benefits from this sort of manipulation, which is why Democratic “leadership” is loathe to forcefully address the issue. This article offers grounds for some seriously potent attack lines, if only the entrenched establishment would step up.
BS. The Biden SEC. FTC etc were proactive and that's why many of these chazers support Trump;.
Hedge funds do a butterfly straddle. They don't care which way the market goes as long as it fluctuates. (Beta). https://www.investopedia.com/terms/b/butterflyspread.asp
I asked AI what to do. "Have sufficient emergency reserves. Layoffs often occur during recessions. So, it's best to be proactive and save in advance of potential cuts. Ending unnecessary subscriptions, or other forms of entertainment can help people supplement their emergency budget." I was referred to a Time article. https://time.com/7266970/how-to-prepare-for-a-recession/
Most of our income is fixed income. No way to beat inflation.
For stock, mutual funds, etc., the experts say hold cash. I represented some brokers in my former life, and they say "short" "growth" funds. My experience is the brokers always get their fees, whether or not it works.
Buy, let it build, crash it, Wash, rinse, repeat. What a country!
Meanwhile, the rest of us peons just keep working for THEM. It is their Golden Age. They get the gold and we just age from all that worry and work. I think I just found the phrase for my new protest sign.
I do get something out of going to demonstrations. I meet a lot of new Democrats and independents---some are young and some are old. I treasure them equally, because they are WOKE.
Great lesson today, professor Thom.
While I can't disagree with the gist of your article, let us note that all of the oligarchs in question, from Musk to Bezos to Zuckerberg, became billions richer under Biden as he himself promised them in 2019 (when he told a roomfull of billionaires that their lifestyle would not fundamentally change under his presidency). Obama had at least a dozen Wall Street hundred millionaires in his cabinet, Biden had these infuences and Raytheon board member Llyod Austin as his Secretary of Defense, so the revolving door of oligarchs and influencers has just become less opaque under Trump. Not at all defending his chaos and random dismantling of governmental agencies, but without the Democrats joining in the infiltration of government by special interests and oligarchs Trump could never have gotten this far. https://barryjkaufmando.substack.com/p/the-empire-strikes-backat-itself
I remember a commercial from the 1970's or 80"s. A giant, rich CEO at his desk smoking a cigar, and a tiny worker standing in an ashtray asking for a raise. The CEO laughed and started to put out the cigar in the ashtray, fade to black. That is exactly what we are to them, means to their end game. Would like to find the commercial and share it on social media with a modern spin.
And I call it goodby retirement account .. @ age 76 I need to go back to work to make up for the recent market collapse .. wtf .. can’t somebody stop these assholes
Wondering when the small guy supporting their own demise is going to wake up? Loss of social security and more on medicaid. Medicaid elimination would mean a lot of old people losing their nursing home care and put out in the streets like the homeless as Reagan did in the 80's. Repubs seem to love homelessness and want more of it. A few cold days brings out the harvester reducing the "problem" year by year.