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Old 04-03-2013, 08:46 AM
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The Corruption of Capitalism in America

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The Dow Jones and Standard & Poor’s 500 indexes reached record highs on Thursday, having completely erased the losses since the stock market’s last peak, in 2007. But instead of cheering, we should be very afraid.

Over the last 13 years, the stock market has twice crashed and touched off a recession: American households lost $5 trillion in the 2000 dot-com bust and more than $7 trillion in the 2007 housing crash. Sooner or later — within a few years, I predict — this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too.

Since the S.&P. 500 first reached its current level, in March 2000, the mad money printers at the Federal Reserve have expanded their balance sheet sixfold (to $3.2 trillion from $500 billion). Yet during that stretch, economic output has grown by an average of 1.7 percent a year (the slowest since the Civil War); real business investment has crawled forward at only 0.8 percent per year; and the payroll job count has crept up at a negligible 0.1 percent annually. Real median family income growth has dropped 8 percent, and the number of full-time middle class jobs, 6 percent. The real net worth of the “bottom” 90 percent has dropped by one-fourth. The number of food stamp and disability aid recipients has more than doubled, to 59 million, about one in five Americans.

So the Main Street economy is failing while Washington is piling a soaring debt burden on our descendants, unable to rein in either the warfare state or the welfare state or raise the taxes needed to pay the nation’s bills. By default, the Fed has resorted to a radical, uncharted spree of money printing. But the flood of liquidity, instead of spurring banks to lend and corporations to spend, has stayed trapped in the canyons of Wall Street, where it is inflating yet another unsustainable bubble.

When it bursts, there will be no new round of bailouts like the ones the banks got in 2008. Instead, America will descend into an era of zero-sum austerity and virulent political conflict, extinguishing even today’s feeble remnants of economic growth.
Read the entire article at: http://www.nytimes.com/2013/03/31/op...anted=all&_r=0

This article includes many historical parts, it is worth to read it entirely.

If you have any thought you want to share, please do.
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Old 04-03-2013, 09:24 AM
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Adjusted for inflation, since the Fed has printed so much, the actual record high for the DJIA should be in the mid 15,000s.
 
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Old 04-03-2013, 09:32 AM
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Originally Posted by Zap View Post
Adjusted for inflation, since the Fed has printed so much, the actual record high for the DJIA should be in the mid 15,000s.
If it was only this...

I guess if they really want to make it right, they have to re-structure the entire financial system and put new gov policies in place, remove lobbyism, etc

I am very pessimistic about the economy and it seems like the dark age is coming with all its consequences nationally and internationally.
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Old 04-03-2013, 10:41 AM
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The Corruption of Capitalism in America

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Quote:
this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too. ... extinguishing even today’s feeble remnants of economic growth.

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Zap: Adjusted for inflation, since the Fed has printed so much, the actual record high for the DJIA should be in the mid 15,000s.


this latest Wall Street bubble ... the actual record high for the DJIA should be in the mid 15,000s


ok, which is it ... certainly not a bubble and is it a new high at mid 1500 or just back to where the market was, where it has been rising from since American Capitalism began - Considering the calamity of 2007 - 09 the economy has irrefutably "recovered".

... the Corruption of American Capitalism was made less so when it maturely advanced to a Goods and Services economy from being on a Gold Standard and is positioned because of the advantages made available and implemented by the new Standard to expand into the near future as opposed to previous decades long recoveries from prior Great Recession, not to mention avoiding all together a new World Wide Depression.

we are fortunate to be living at the frontier of modern economic modelling as opposed to previously proven inequities of dysfunctional standards.
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Old 04-03-2013, 10:48 AM
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You do realize you're quoting 2 different people, right?
And is English your second language, by any chance?
 
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Old 04-03-2013, 11:31 AM
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You do realize you're quoting 2 different people, right?
And is English your second language, by any chance?
I guess what he called recovery is in fact the recovery of the Wall street and banks. He cannot explain the 49 millions of Americans on food stamps, the transfert of millions middle class jobs to China, the trillions of US debt they added, etc

I don't say that President Obama policies are the only factor responsible, we can add Wall Street, the Fed, the banks and Cronyism capitalism which was favored too.

I am wondering who is going to pay the interests of the debts and deficits.
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Old 04-03-2013, 12:52 PM
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Video related to the article

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Old 04-04-2013, 09:55 AM
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Originally Posted by Natural Elements View Post
I guess what he called recovery is in fact the recovery of the Wall street and banks. He cannot explain the 49 millions of Americans on food stamps, the transfert of millions middle class jobs to China, the trillions of US debt they added, etc

I don't say that President Obama policies are the only factor responsible, we can add Wall Street, the Fed, the banks and Cronyism capitalism which was favored too.

I am wondering who is going to pay the interests of the debts and deficits.


... debt they added


fiddle dee - fiddle doe:

is that the ~2.5% already paid (off) in curtailing the 07-09 Great Recession by the Federal Reserve, using modern Capitalist: Goods and Services Economy -

or the causal effect of the "Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)" - that can be referred to as: "The Corruption of Capitalism in America".
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Old 04-04-2013, 11:09 AM
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Originally Posted by Breeze Wood View Post
... debt they added


fiddle dee - fiddle doe:

is that the ~2.5% already paid (off) in curtailing the 07-09 Great Recession by the Federal Reserve, using modern Capitalist: Goods and Services Economy -

or the causal effect of the "Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA)" - that can be referred to as: "The Corruption of Capitalism in America".
I am not playing Republicans evil like you dude, they both eat at the same table.

What you will never understand is that middle class and lower class will always be the least interests of the wealthy people from the left to the right spectrum because it is easier to manipulate the ignorants or the people not aware of the real game.
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Old 04-05-2013, 12:58 PM
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understanding the differences employed by this Administration / Federal Reserve in curtailing the 07-09 Recession per previous lessons learned over the past decades of economic turmoil and the success it has accomplished is the distinction between the opposing parties that is more than worthwhile in making note of.
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Old 04-05-2013, 02:01 PM
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Corporations are becoming more powerful than nations. This is the overall trend that we must understand. They can shift money around and pay no taxes, and at the same time use that money to lobby governments and create loopholes. In so many countries, corporations have more power than the people. It started with banana republics but is expanding to larger nations now. I'm sure we will get through it, but people should realize this rapid shift of power is taking place.
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Old 04-17-2013, 09:16 AM
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Wall Street, the biggest bubble in the American history.

[YT]uF9UJh8bU70[/YT]
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