A booming stock market is only good good for Wall Street Hustlers and gamblers. Those same people pull the same tricks today they were pulling before October 1929.
NOTE: Once upon a time —— when major newspapers were half-ass logical —— they put the daily stock market report on the same page as thoroughbred racing results. Nowadays, television devotes hours every day to so-called economic news that is nothing more than advertising for Wall Street’s gambling casinos.
Do not misunderstand me. Basically, I have nothing against gambling. I have everything against bailing out the losers with tax dollars.
Parenthetically, wise guys tell you “Never bet on anything that walks on two legs.” They meant stock brokers, jockeys, wrestlers, and roosters.
In all fairness I am biased against Wall Street because my family’s business was wiped out in the crash of ‘29. Some guy jumped out of a window on Wall Street and landed on my father’s pushcart. The family never recovered. I am probably a little bitter because after the market crashed no stock broker ever committed suicide by jumping off his yacht.
If investing in the stock market was such a sure thing then a substantial amount of the money collected in FICA taxes should be invested in stocks by professional money managers employed by the Social Security Administration —— rather than put individuals at the mercy of Wall Street crooks who will churn millions of individual investor accounts into lucrative commissions. (Unless media mouths are talking about butter, churning is a word you will never hear on television.)
From its inception in 1934 the Securities and Exchange Commission (S.E.C.) has been a cloak of respectability covering Wall Street’s shady practices. Popular myth says Wall Street’s collapse caused the Great Depression. Nothing is further from the truth. Countless factors contributed to the Great Depression, the stock market crash is least of them because only a small percentage of Americans owned stocks. I doubt if the collapse caused much of an economic ripple.
Stock traders were always crooks to be sure; nevertheless, the reputation Wall Street enjoys today is due to media and the S.E.C. In theory, the S.E.C. was established to keep Wall Street honest. I do not think I have to list the scandals, the thefts, the bailouts, etc. that were committed right under the S.E.C.’s nose in recent years. At least taxpayers did not have to bailout the crooks in 1929.
The S.E.C. allows Wall Street to do anything it has to do to keep financial markets from collapsing. Competition, and supply and demand, have not played a part in economic policy since the FDR years. That is why I always said the S.E.C. should be shutdown. The Department of Education, the EPA, and the FCC (Ministry of Propaganda) et al. are destructive federal bureaucracies. If there is such a thing as a pointless federal bureaucracy the S.E.C. tops the list.
Should Wall Street tank à la The Great Depression, the government will not solve the problem by willingly giving Americans more freedom of choice in their personal lives, nor will the government let private sector Americans out from under government control. Socialists/Communists running the government today will move to take freedoms away from the private sector just as Democrats did during the Great Depression.
Bottom line: Trump is living in a dreamworld if he thinks the American people believe the stock market is the economy:
The Parasite class voting en masse for Trump in 2020 is the only way he can win in a landslide. In truth, he can sure as hell lose if he gives millions of new parasites government jobs:
https://www.justplainpolitics.com/s...e-New-Year-Died-In-1977&p=2800021#post2800021
NOTE: Once upon a time —— when major newspapers were half-ass logical —— they put the daily stock market report on the same page as thoroughbred racing results. Nowadays, television devotes hours every day to so-called economic news that is nothing more than advertising for Wall Street’s gambling casinos.
Do not misunderstand me. Basically, I have nothing against gambling. I have everything against bailing out the losers with tax dollars.
Parenthetically, wise guys tell you “Never bet on anything that walks on two legs.” They meant stock brokers, jockeys, wrestlers, and roosters.
In all fairness I am biased against Wall Street because my family’s business was wiped out in the crash of ‘29. Some guy jumped out of a window on Wall Street and landed on my father’s pushcart. The family never recovered. I am probably a little bitter because after the market crashed no stock broker ever committed suicide by jumping off his yacht.
If investing in the stock market was such a sure thing then a substantial amount of the money collected in FICA taxes should be invested in stocks by professional money managers employed by the Social Security Administration —— rather than put individuals at the mercy of Wall Street crooks who will churn millions of individual investor accounts into lucrative commissions. (Unless media mouths are talking about butter, churning is a word you will never hear on television.)
From its inception in 1934 the Securities and Exchange Commission (S.E.C.) has been a cloak of respectability covering Wall Street’s shady practices. Popular myth says Wall Street’s collapse caused the Great Depression. Nothing is further from the truth. Countless factors contributed to the Great Depression, the stock market crash is least of them because only a small percentage of Americans owned stocks. I doubt if the collapse caused much of an economic ripple.
Stock traders were always crooks to be sure; nevertheless, the reputation Wall Street enjoys today is due to media and the S.E.C. In theory, the S.E.C. was established to keep Wall Street honest. I do not think I have to list the scandals, the thefts, the bailouts, etc. that were committed right under the S.E.C.’s nose in recent years. At least taxpayers did not have to bailout the crooks in 1929.
The S.E.C. allows Wall Street to do anything it has to do to keep financial markets from collapsing. Competition, and supply and demand, have not played a part in economic policy since the FDR years. That is why I always said the S.E.C. should be shutdown. The Department of Education, the EPA, and the FCC (Ministry of Propaganda) et al. are destructive federal bureaucracies. If there is such a thing as a pointless federal bureaucracy the S.E.C. tops the list.
Should Wall Street tank à la The Great Depression, the government will not solve the problem by willingly giving Americans more freedom of choice in their personal lives, nor will the government let private sector Americans out from under government control. Socialists/Communists running the government today will move to take freedoms away from the private sector just as Democrats did during the Great Depression.
Bottom line: Trump is living in a dreamworld if he thinks the American people believe the stock market is the economy:
Trump 'could win by a landslide' because of white-hot economy
Posted By -NO AUTHOR- On 05/03/2019 @ 2:10 pm In
https://www.wnd.com/2019/05/trump-could-win-by-a-landslide-because-of-white-hot-economy/
Posted By -NO AUTHOR- On 05/03/2019 @ 2:10 pm In
https://www.wnd.com/2019/05/trump-could-win-by-a-landslide-because-of-white-hot-economy/
The Parasite class voting en masse for Trump in 2020 is the only way he can win in a landslide. In truth, he can sure as hell lose if he gives millions of new parasites government jobs:
Embezzlers telling the public that unemployment is going down is called creative bookkeeping. It might be true! But only true for the parasite class getting government jobs —— millions of parasite jobs through the ACA, and millions more getting tax dollar jobs to rebuild the infrastructure; i.e., public schools.
The difference between public sector jobs and government jobs is never mentioned as the number of permanently unemployed rises faster than the government parasites can put more parasites on government payrolls. The permanently unemployed amounts to at least 4 percent. Unemployment is above 10 percent when the permanently unemployed is included in unemployment nose counts.
In spite of this overwhelming fact:
The sheer size of our government workforce is alarming — and we can't afford it
By Kristin Tate
04/14/19 06:00 PM EDT
https://thehill.com/opinion/finance/438242-the-federal-government-is-the-largest-employer-in-the-nation
By Kristin Tate
04/14/19 06:00 PM EDT
https://thehill.com/opinion/finance/438242-the-federal-government-is-the-largest-employer-in-the-nation
Whatever Trump is pulling:
Trump, Pelosi agree to huddle on bipartisan infrastructure package
by Zachary Halaschak
| April 14, 2019 04:44 PM
https://www.washingtonexaminer.com/news/trump-pelosi-agree-to-huddle-on-bipartisan-infrastructure-package
by Zachary Halaschak
| April 14, 2019 04:44 PM
https://www.washingtonexaminer.com/news/trump-pelosi-agree-to-huddle-on-bipartisan-infrastructure-package
infrastructure jobs are tax dollar jobs. Diarrhea mouth knows it, but maybe bullshit artist Trump is too goddamned stupid to know that whatever he gets from Democrats will increase the number of parasites holding PERMANENT tax dollar jobs.
https://www.justplainpolitics.com/s...e-New-Year-Died-In-1977&p=2800021#post2800021