Capitalism

Disaster Capitalism: When Free Markets Go Wild!

No.: 
19

One does not have to agree with all or most of Paul Farrell’s fourteen points on disaster capitalism to appreciate the thesis: Our country has been hijacked by a network of elites and our American heritage is now hazarded. The “democratic capitalism” that we’re pushing worldwide is plutocratic democracy and exploitative of the masses. We’re ruled by celebrities as pawns and money moguls as monarchs.

The New American Dream: Getting Our Country Back!

No.: 
18

David Weidner says that the 2008 crash has Americans wanting to loot Wall Street castles since Wall Street looted their homes. The good news is that Weidner counts himself among those who are angry with Wall Street. The bad news that he reads too much “revenge” into the public mind and not enough respect for the sanctity of real justice.

Bubble Blowing: A Response to Vanguard's Bogle

No.: 
10

Vanguard’s Bogle is right: “We’re letting the nuts run the insane asylum.” But does the stock market have to be an insane asylum? Is a place that trades on irrationality the right place for our retirement savings? You be the judge. Wall Street says, “Yes!” But they get the commissions, fees, and proprietary trading platforms by which to shake down the public. Then, too, when elite traders (traitors) get bored with the rewards of mere pillage, they can use leveraged derivatives to risk the nation’s tranquility.

The Market's Upturn Awaits the Public's Capitulation

No.: 
9

The essence of the contrarian position that Mark Hulbert advances is that elitist short players on Wall Street will not relinquish their short trades until the advisors for Mom & Pop investors advise them to capitulate and accept their losses. When millions of working class Americans sell their stocks in a desperate panic, that is when the markets will turn, says Hulbert. By design, Ponzi-style markets turn under these conditions because this is the moment where exploitation is maximized for elites.

Is California Truly Too Big to Fail?

No.: 
8

If California is too big to let fail, then so is every other state in the Union, since state equality in the Senate is a constitutional construct. If the California governor deserves success in lobbying the U.S. Treasury, then the federal government might as well bail every state (and every state-dependent municipality). This trend — already underway in the financial sector — will lead to the anarchical destruction of justice. When people realize that any hope of economic justice is lost, the American experiment with “free democracy” will die.

Low Interest Rates Should Favor Meritorious Money Use

No.: 
7

The globally coordinated interest rate cut today shows the desperation of central bankers in trying to calm market psychology. The rhetoric about inflationary prospects moderating is delusional. While commodity prices are coming down in the short term they will likely reverse in the mid-term, as fundamentals point higher. Furthermore, government bailouts and backstops will lead to higher inflation as will entitlement programs and the alleged need for large military expenditures.

Wall Street Misrepresents Capitalism

Today’s 777 point sell-off in the Dow signals Americans that our capitalism is not properly serving our interests. American capitalism is now an asymmetrical game that benefits elite traders while undermining the common good. People’s retirement savings should not be exposed to the capital destruction that occurs when prices in the “float” fail to provide fair market discovery of real corporate value.

Mark-To-Market Clarifications And Other Improvements

There has been a terrible amount of crookedness, and financial institutions should not be let off the hook. Let them live miserably with their bad loans and hold their damaged securities to maturity, thus crimping their ability to grow their businesses (as transparency requirements deter new clientele). Let new competition rise in their place. Don’t let these institutions use Chapter 11 blackmail as a means of off-loading their junk into “bad bank”surrogates or the balance sheets of taxpayers.

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