Originally posted by DodgyAgent
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Ask yourself who are the beneficiaries of these increasingly dramatic fluctuations in the market?
Hint: The unregulated speculative derivatives market is estimated to be worth 20x the GDP of the entire World.
there's vastly more money invested in bets about whether the market is going to go up or down than is invested in actually making or doing things in the "real economy".
In the UK a national debt of 576bn (58% of GDP) borrowed to spend on all kinds of beneficial stuff like universal healthcare, universal education, the military, infrastructure projects, science, research subsidies, policing, welfare, local services, libraries, foreign aid, industrial support and even a few ill advised and not very beneficial foreign invasions, while the sum just handed over to the banks to pay down their appalling gambling debts (which are conveniently and misleadingly excluded from the national debt calculations) is £1,376bn (91% of GDP), this doesn't even take into account the economically destructive consequences of holding interest rates artificially low for years and a £250bn money printing scam (quantitative easing).
All of the major political parties have been infiltrated by neoliberal influences and they are queueing up to shaft ordinary working & taxpaying people with the great neoliberal lie that "the state has been spending too much on welfare, healthcare, education and other services" when our governments have blasted far more on propping up the corruption riddled, unstable and transparently defective economic system built on hardline neoliberalism.
The uber-rich neoliberal banking clique have benefitted from bailouts that kept their money making system from collapsing into the chasm of debt they had created. Now they are enriching themselves by short selling sovreign debt before their self fulfilling prophecies about iminent downgrades come true and brazenly chelping away that ordinary people need to suffer more "austerity" because their governments have too many debts.
Hint: The unregulated speculative derivatives market is estimated to be worth 20x the GDP of the entire World.
there's vastly more money invested in bets about whether the market is going to go up or down than is invested in actually making or doing things in the "real economy".
In the UK a national debt of 576bn (58% of GDP) borrowed to spend on all kinds of beneficial stuff like universal healthcare, universal education, the military, infrastructure projects, science, research subsidies, policing, welfare, local services, libraries, foreign aid, industrial support and even a few ill advised and not very beneficial foreign invasions, while the sum just handed over to the banks to pay down their appalling gambling debts (which are conveniently and misleadingly excluded from the national debt calculations) is £1,376bn (91% of GDP), this doesn't even take into account the economically destructive consequences of holding interest rates artificially low for years and a £250bn money printing scam (quantitative easing).
All of the major political parties have been infiltrated by neoliberal influences and they are queueing up to shaft ordinary working & taxpaying people with the great neoliberal lie that "the state has been spending too much on welfare, healthcare, education and other services" when our governments have blasted far more on propping up the corruption riddled, unstable and transparently defective economic system built on hardline neoliberalism.
The uber-rich neoliberal banking clique have benefitted from bailouts that kept their money making system from collapsing into the chasm of debt they had created. Now they are enriching themselves by short selling sovreign debt before their self fulfilling prophecies about iminent downgrades come true and brazenly chelping away that ordinary people need to suffer more "austerity" because their governments have too many debts.
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