To anyone doubting the Covid-19 bailouts will line executives’ pockets, American Airlines CEO Doug Parker says he’ll “find a way around” the rules against it. This after making $150 million while AAL’s stock plummeted 70%. Stock buybacks are the ultimate vehicle of self-enrichment. Consider the following as a ‘case study’ of Wall Street’s legal fraud. […]

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Plebs pay 37% on credit card debt as elites enjoy a Covid-19 payday

by Mitch Feierstein about 6 months 2 days ago

As the Covid-19 pandemic destroys incomes, the middle class is forced to pay exorbitant credit card rates. How much longer are the debt-serfs willing to get fleeced by bankers and politicians brain-frozen on designer ice cream? The repeated rinsing of taxpayers has hollowed out the UK and US middle class, and  continued polarization will surely […]

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Covid-19 lives, Capitalism dies: Oligarchs, buying influence in Washington and Westminster, have become reliant upon bankers and politicians providing taxpayer-backed bailouts when their reckless highly leveraged bets go wrong. Since 2010, companies trading on the S&P 500 stock index spent over $5.3 trillion on stock buybacks. Allowing companies to borrow money so they can buy back […]

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After 2008, we were promised that too-big-to-fail caused by too much debt, credit, and leverage was history. Covid-19 exposed Wall Street’s culture of “Heads I win, tails you bail me out.” That’s not capitalism, it’s extortion. Are globalization’s new record highs a minefield-filled Potemkin village? In 2020, financial markets have set numerous records. In January, […]

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Debt matters. In Washington’s swamp, no one CARES about debt. Big government has become more addicted to debt than drug addicts to a pipe full of crack. In October 2019, the International Monetary Fund downgraded its global growth forecast with a stark warning for 2020 that “Global growth will fall to the lowest levels since 2008’s […]

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A trader of the New York Stock Exchange (NYSE) The Covid-19 market turmoil set off a chain of flashbacks in my mind, from crisis to crisis over the past 40 years. They all fit together in a picture of Wall Street fraud and criminal policies, with the virus as the last straw. Last week, I […]

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When Democracy Dies

by Mitch Feierstein about 9 months 3 weeks ago

Planet Ponzi – the massive build-up of debt, the total loss of political transparency – had caused multiple casualties across the world. The failure of banks, the huge rise in government debt, the failure of business, the loss of jobs, the pressure on real incomes – all these things stem from the same dark causes. […]

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Welcome to Planet Ponzi

by Mitch Feierstein about 9 months 3 weeks ago

You know that scene in Mr. Smith Goes to Washington? The one where the good guy, Jimmy Stewart, stands up in the Senate protesting the graft and corruption he sees all around him. He’s not as smart as the other Senators. He was only elected by accident and knows that he’s not properly qualified to […]

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The 12 December general election will be the most crucial election, not only in our lifetimes but also in the history of the United Kingdom. Faith and trust in Westminster and our Parliament have never been lower.  Why? What’s happened to society?  The reality is that those who call themselves inclusive, tolerant, diverse and accepting […]

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Why we need to audit and shutter the U.S. Federal Reserve. The Federal Reserve has nothing to do with the federal government and is not a bank.

Inspector general. What a laugh. This is not how democracy works. This is an oligarchy. The “bull markets” over the past decade were based entirely on the Central Banks buying equities and recklessly providing hundreds of trillions in liquidity. Earnings peaked long ago, accounting gimmicks, buybacks el al – only work until they don’t. In the USA, for example, Q4 saw Jerome Powell’s Federal Reserve provide 500 billion in QE, which he dared to say was not QE. Not only that, but what’s worse, much worse is the Federal Reserve is now monetizing debt, washed through primary dealers. Everyone made big money in the past decade, but this new decade we will see the “big unwind,” and it will be ugly.

 
 
 
 
 
 

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