The "free market" is a Big Government Program

[Toddsterpatriot]

What do investors want in order to lock up their promised assets into such a project for years?

I'm guessing other people's money or a guarantee from the New York Fed?

Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline

"Last year, the Fed intervened in the repo loan market on September 17 for the first time since the financial crash of 2007 to 2010 (and five months before the first reported death in the U.S. from COVID-19).

"The Fed’s emergency repo loans outstanding last year hit a peak of $236.6 billion on December 18, 2019 — $100 billion more than during the worst financial crisis since the Great Depression."

Why do you think Wall Street banks stopped loaning to one another last September?

"The Fed’s emergency repo loans outstanding last year hit a peak of $236.6 billion on December 18, 2019 — $100 billion more than during the worst financial crisis since the Great Depression."

In December, our banks had $1.5 trillion in excess reserves

Why do you think Wall Street banks stopped loaning to one another last September?

They found it was easier to meet their liquidity requirements by holding onto their excess reserve balances, rather than lending them out for a tiny bit higher interest rate.

 

[georgephillip]

Exactly! Criminals in their government borrowed and stole the money.
Then the Malaysian government sued Goldman for the theft

Goldman Is in Talks to Settle Malaysia Fund Scandal

"Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, according to two people with knowledge of the matter.

"The case stems from a scheme to siphon off more than $2.7 billion of the $6.5 billion raised for the 1Malaysia Development Berhad, known as 1MDB. Federal authorities have that said Jho Low, a flamboyant Malaysian financier, was the principal architect of the plot to bribe public officials that has led to the guilty plea of a former Goldman partner and criminal charges against another of the bank’s executives.

Does that sound like God's work to you?

 

[Toddsterpatriot]

Exactly! Criminals in their government borrowed and stole the money.
Then the Malaysian government sued Goldman for the theft

Goldman Is in Talks to Settle Malaysia Fund Scandal

"Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, according to two people with knowledge of the matter.

"The case stems from a scheme to siphon off more than $2.7 billion of the $6.5 billion raised for the 1Malaysia Development Berhad, known as 1MDB. Federal authorities have that said Jho Low, a flamboyant Malaysian financier, was the principal architect of the plot to bribe public officials that has led to the guilty plea of a former Goldman partner and criminal charges against another of the bank’s executives.

Does that sound like God's work to you?

Federal authorities have that said Jho Low, a flamboyant Malaysian financier, was the principal architect of the plot to bribe public officials

Sounds like Allah's work.

 

[georgephillip]

Nah. That's a tremor, the CommieVirus is 9.8 on the Richter scale

You're wrong about everything

 

[Toddsterpatriot]

Nah. That's a tremor, the CommieVirus is 9.8 on the Richter scale

You're wrong about everything

You're lying.

 

[georgephillip]

Why do you think Wall Street banks stopped loaning to one another last September?

They found it was easier to meet their liquidity requirements by holding onto their excess reserve balances, rather than lending them out for a tiny bit higher interest rate.

Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline

"Comparing the collapse in the yield of the 10-year Treasury Note is also revealing.

"During the epic financial collapse of 2007-2010, the yield on the T-Note was collapsing, suggesting an economic catastrophe was brewing.

"Last year, the yield on the 10-year T-Note collapsed from 3.22 percent to 1.47 percent in advance of the Fed jumping in with emergency repo loans on September 17.

"Again, that was four months before a COVID-19 death had been reported anywhere in the world."

 

[georgephillip]

"A new report from the Institute for Policy Studies found that, while tens of millions of Americans have lost their jobs during the coronavirus pandemic, America’s ultra-wealthy elite have seen their net worth surge by $282 billion in just 23 days"

MR Online | America’s super-rich see their wealth rise by $282 Billion in three weeks of pandemic

 

[Toddsterpatriot]

Why do you think Wall Street banks stopped loaning to one another last September?

They found it was easier to meet their liquidity requirements by holding onto their excess reserve balances, rather than lending them out for a tiny bit higher interest rate.

Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline

"Comparing the collapse in the yield of the 10-year Treasury Note is also revealing.

"During the epic financial collapse of 2007-2010, the yield on the T-Note was collapsing, suggesting an economic catastrophe was brewing.

"Last year, the yield on the 10-year T-Note collapsed from 3.22 percent to 1.47 percent in advance of the Fed jumping in with emergency repo loans on September 17.

"Again, that was four months before a COVID-19 death had been reported anywhere in the world."

"Last year, the yield on the 10-year T-Note collapsed from 3.22 percent to 1.47 percent in advance of the Fed jumping in with emergency repo loans on September 17.

Yup, the yield curve often inverts before the start of a recession.

 

[Toddsterpatriot]

"A new report from the Institute for Policy Studies found that, while tens of millions of Americans have lost their jobs during the coronavirus pandemic, America’s ultra-wealthy elite have seen their net worth surge by $282 billion in just 23 days"

MR Online | America’s super-rich see their wealth rise by $282 Billion in three weeks of pandemic

America’s ultra-wealthy elite have seen their net worth surge by $282 billion in just 23 days"

Rich stock holders get richer when the market goes up.

Quick, alert the media!!

 

[georgephillip]

Rich stock holders get richer when the market goes up.

Quick, alert the media!

Starting with the Washington Post

Jeff Bezos, World’s Richest Man, Wants Your Donations To Help Amazon Employees

"Amazon CEO Jeff Bezos, the world’s first centibillionaire, a man who vies with Bill Gates for the title of the planet’s richest individual, is asking the public for donations to provide basic support to his 800,000 employees who are suffering in poverty in the wake of the COVID-19 pandemic. Bezos announced:

"'We are establishing the Amazon Relief Fund with a $25 million initial contribution focused on supporting our independent delivery service partners and their drivers, Amazon Flex participants, and seasonal employees under financial distress during this challenging time.'"

 

[Toddsterpatriot]

Rich stock holders get richer when the market goes up.

Quick, alert the media!

Starting with the Washington Post

Jeff Bezos, World’s Richest Man, Wants Your Donations To Help Amazon Employees

"Amazon CEO Jeff Bezos, the world’s first centibillionaire, a man who vies with Bill Gates for the title of the planet’s richest individual, is asking the public for donations to provide basic support to his 800,000 employees who are suffering in poverty in the wake of the COVID-19 pandemic. Bezos announced:

"'We are establishing the Amazon Relief Fund with a $25 million initial contribution focused on supporting our independent delivery service partners and their drivers, Amazon Flex participants, and seasonal employees under financial distress during this challenging time.'"

Leave poor Jeff alone, he lost $10 billion on Friday!!!

 

[georgephillip]

Leave poor Jeff alone, he lost $10 billion on Friday!!

How much has he made this year?

Amazon's Jeff Bezos Has Made Back Half of His Divorce Settlement This Year

"The Amazon founder and chief executive has seen his net worth, largely tied to the company’s share price, increase by about $24 billion this year, according to Bloomberg’s Billionaires Index on Wednesday.

"That jump puts Bezos’ net worth at $138 billion, and means he’s already made up more than half of the money he paid to ex-wife McKenzie Bezos in their highly-publicized divorce last year.

"As part of their agreement, MacKenzie Bezos was awarded a 4% stake in Amazon, which was worth upwards of $36 billion in mid-2019, when the settlement finalized.

"Jeff Bezos still holds a comfortable $33 billion cushion on Bill Gates when it comes to the title of being the world’s richest person."

 

[Toddsterpatriot]

Leave poor Jeff alone, he lost $10 billion on Friday!!

How much has he made this year?

Amazon's Jeff Bezos Has Made Back Half of His Divorce Settlement This Year

"The Amazon founder and chief executive has seen his net worth, largely tied to the company’s share price, increase by about $24 billion this year, according to Bloomberg’s Billionaires Index on Wednesday.

"That jump puts Bezos’ net worth at $138 billion, and means he’s already made up more than half of the money he paid to ex-wife McKenzie Bezos in their highly-publicized divorce last year.

"As part of their agreement, MacKenzie Bezos was awarded a 4% stake in Amazon, which was worth upwards of $36 billion in mid-2019, when the settlement finalized.

"Jeff Bezos still holds a comfortable $33 billion cushion on Bill Gates when it comes to the title of being the world’s richest person."

"Jeff Bezos still holds a comfortable $33 billion cushion on Bill Gates when it comes to the title of being the world’s richest person."

The two richest guys in the world started their business from scratch?
So did #4, Warren Buffet, #5, Larry Ellison, #7, Mark Zuckerberg.
#8-#10, their dad, Sam Walton, started his business from scratch.
America really is the land of opportunity.

So much for the whine that only the rich can get rich.

 

[georgephillip]

The two richest guys in the world started their business from scratch?
So did #4, Warren Buffet, #5, Larry Ellison, #7, Mark Zuckerberg.
#8-#10, their dad, Sam Walton, started his business from scratch.
America really is the land of opportunity.

Gates comes from a family with enough resources to have provided him with 10, 000 hours of computer programming experience BEFORE he left for Harvard. Everyone of the parasites "earned" their fortune by exploiting thousands of workers solely because earlier generations of parasites constructed a neo-feudal legal system by bribing corrupt politicians and judges. Only devout slaves would call that success.

 

[Toddsterpatriot]

The two richest guys in the world started their business from scratch?
So did #4, Warren Buffet, #5, Larry Ellison, #7, Mark Zuckerberg.
#8-#10, their dad, Sam Walton, started his business from scratch.
America really is the land of opportunity.

Gates comes from a family with enough resources to have provided him with 10, 000 hours of computer programming experience BEFORE he left for Harvard. Everyone of the parasites "earned" their fortune by exploiting thousands of workers solely because earlier generations of parasites constructed a neo-feudal legal system by bribing corrupt politicians and judges. Only devout slaves would call that success.

Everyone of the parasites "earned" their fortune by exploiting thousands of workers

Stop it, you're killing me.

 

[EdwardBaiamonte]

The "free market" is a Big Government Program

Yes, I suppose you could look at it that way, as sort of a welfare program, a self-sustaining welfare program. When China just switched to the free market 800 million instantly moved up into the middle class.

Not only does it guarantee an income to most people but it also creates a meaningful life for most people through a workfare requirement wherein the more you contribute to society the more welfare you get!!

 

[EdwardBaiamonte]

Gates comes from a family with enough resources to have provided him with 10, 000 hours of computer programming experience BEFORE he left for Harvard.

Yes we don't want some parents to love their kids more than other parents nor endow their kids with a superior genetic inheritance. We must reverse evolution toward absolute equality like the communists did and get another 200 million killed.

 

[EdwardBaiamonte]

Everyone of the parasites "earned" their fortune by exploiting thousands of workers solely because earlier generations of parasites constructed a neo-feudal legal system by bribing corrupt politicians and judges. Only devout slaves would call that success.

Bill Gates' fortune came from a neo-feudal legal system that allowed him to freely sell tons of software to people who freely wanted to buy it????? Nobody is as stupid as a communist and nobody has killed as many millions of innocent people as a communist.

 

[EdwardBaiamonte]

Coronavirus Is Forcing the GOP to Admit Its Ideology Is Delusional

It's ideology is freedom or capitalism which is our best shot to produced the PPE, medical equipment, therapeutics, and vaccines we need to defeat C-19. Do you understand?

 

[georgephillip]

Yes, I suppose you could look at it that way, as sort of a welfare program, a self-sustaining welfare program. When China just switched to the free market 800 million instantly moved up into the middle class.

I'm pretty sure China switched to a single-party state capitalist economy creating a few vast private fortunes and some of the worst air quality and human rights abuses ever seen; surely, you are not advocating such economic tyranny here?

State capitalism - Wikipedia