Great Gains For the Banksters

“This Is Bad” – European Banks Tumble As ECB Unveils Massive EasingZero Hedge
“Something odd is taking place in the market today: the world’s biggest central bank – whose balance sheet is 40.5% of Europe’s GDP – unveiled massive monetary easing in the form of new carry-trade facilitating bank loans and an extended NIRP period and… stocks tumbled, a reaction which the market has rarely even seen before in the context of a central bank unveiling a surprisingly dovish move….Dow futures immediately tumbled 250 points from its post-Draghi highs….Why the unexpected reaction, one which suggests central banks may now be losing control over markets having pushed on a string just one attempt to push stocks too far, a reaction which a trader at a major trading desk laid out simply as ‘this is bad.’….Meanwhile, the broader picture is even more bank adverse due to the extension of Europe’s NIRP period, which as Deutsche Bank made very clear in the past 5 years, has crushed bank earnings: ‘The interpretation of today’s measures is negative as low rates for longer hurts a lot banks’ margins,’ said Nuria Alvarez, bank analyst at Renta 4.”

My Comment: This makes everyone poorer but the banksters richer as currency is devalued, people work harder for less pay & Banksters pocket the difference. Banksters are in their glory!


A Horror Story of Government Spending –Tamny/Real Clear Markets
“While what fails in the private sector is mothballed, what belly flops in the governmental sphere is frequently rewarded with more taxpayer funds. That’s why government waste is a first order redundancy. Of course it’s waste. Absent the possibility of investor withdrawal whereby what makes no sense is rapidly starved of resources, what’s ridiculous just grows and grows. Which brings us to a front page Wall Street Journal article from Tuesday. Even though airplanes can transport passengers from Chicago to St. Louis in less than 1 hour, Amtrak (our national train service) has a train route in place that can similarly transport passengers between the two cities. The problem is that what takes less than an hour by plane takes 5-1/2 hours by train. Sadly, the Amtrak story gets worse….You see, $2 billion was spent so that Amtrak trains traveling between STL and Chicago would take 4-1/2 hours instead of 5-1/2. Unsurprisingly, this non-improvement isn’t or won’t impress passengers. The present expectation is that, assuming top speeds of 110 mph, ‘the share of people who travel between the two cities by rail could rise just a few percentage points.’ On its own, American Airlines already flies seven times per day from Chicago to St. Louis…So while there are countless stories and lessons about the folly of government spending, the waste of $2 billion on something that makes no economic sense loudly exposes the horrors of Congress controlling so much of the wealth first created in the real world….The federal government costs close to $4 trillion each year, and with Amtrak in mind, readers might imagine all the other waste taking place across various federal programs….Call ‘government spending’ what is: freedom-sapping economic contraction that robs us of trillions worth of experimentation necessary to employ us much better, improve our living standards, and substantially elongate our lives.”

My Comment: Government as a Debt Slave to the Banksters With Taxpayers Guaranteeing This Massive Debt Like a Massive Bankster Heist!

Saving the American Dream for the Millennials –American Spectator
“Depending on which study you read, at least half of all Millennials would prefer to live in a socialist country…Moreover, most Millennials favor a greater degree of government interference in ordinary life and are skeptical of cultural conservatism. In sum, most of the Millennials today are radically more left-wing than previous generations….In order to go to college, many students took out onerous student loans that, with the economic collapse in 2008, meant that Millennials would have an even more difficult time paying down their debts. And, thanks to the chicanery of lobbyists representing credit agencies in 2005, former President George W. Bush signed a law making it impossible to discharge student debt in bankruptcy. Seemingly overnight, the Millennials were made into perennial debtors. This was not only an injustice, but it would also have a severe drag on the economy in the decades to come. Today, a student loan bubble the size of around $1.5 trillion is set to burst soon. This is especially true, as most wages for Millennials have remained stagnant and medical, housing, and childcare costs have made living a profound struggle for many Millennials….In the course of a decade, the basis of the American Dream had been destroyed for most Millennials. The American Dream consisted of working hard and being able to purchase a home and start a family….The Right must strive to create a new paradigm that takes into account the tragic realities that Millennials face today. Things like paid-family leave, rewriting bankruptcy laws to again allow for the discharge of student debt via bankruptcy, and crafting policies that would encourage young people to form families at earlier ages would be key. Also, some new policies would have to be enacted to ensure that American workers received pay raises that kept up with inflation….The Right must go farther and recognize the need to address the budding student loan crisis; the issue of stagnating wages; and the unaffordability of homes. Otherwise, we leave the field open to the most radical Leftists alive.”

My Comment: Bankster Debt Slaves! It could not Be Any Better for the Banksters!

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