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Tag Archives: Wall Street

Have we reached ‘Peak Wall Street’ in America?

Historical experience says that it is very unlikely that we have seen Wall Street’s zenith of influence. But Charles Hugh Smith has some thoughts on the issue. He argues that high finance may be a threat to what he and many others refer to as the “Deep State.” As such the “Deep State” could move to clip Wall Street’s wings.

I don’t know about that.

(From Of Two Minds)

Many consider it “impossible” that Wall Street could possibly lose its political grip on the nation’s throat, but I suggest that Wall Street has over-reached, and is now teetering at the top of the S-Curve, i.e. it has reached Peak Wall Street.

Consider what the extremes of Wall Street/Federal Reserve predation, parasitism, avarice and power have done to the nation, and then ask if other factions within the Deep State are blind to the destructive consequences.

An interesting question to ponder. And no, many components of the “Deep State” are not blind to it at all. But as Ned Beatty in the classic movie Network says…

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Corporate Welfare Is Terrible Policy, But Democrats And Republicans Do It Anyway

Crony capitalism is bipartisan, transpartisan even.

Though there is a general rule which holds, and that is that the degree to which a politician enables the state is the degree to which that politician will probably enable cronyism. The bigger the government the more crony the government. It’s just the way it is.

The only real way to fight crony capitalism is to lesson the catalyst which makes crony capitalism possible, government. There is no “electing good people” to government and then having a large government “work for the people.” Government corrupts. It is at best a necessary evil. For the most part, get it out of the way.

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Hillary’s Wall Street backers: We know she has to placate the serfs with populist rhetoric

Everyone on Wall Street knows that Hillary is there for them. Sure she’s going to talk a good lefty-populist game but everyone knows that it’s bull. It’s part of the game. Tell the “politically unsophisticated” whatever they want to hear. People will forget. They always do. Accountability? Shoot this is 2015, post bailout. Accountability is for suckers.

Having a hard time making your car payment? Oh I understand. I eat at Chipotle too. Late on rent? CEOs make too much money!

Just say whatever. The American people are too “politically unsophisticated” to realize they’re being played. Ready for Hillary!

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Pension Reform is BAD for Wall Street, and GOOD for California

The problem with the notion that pension reform is “good for Wall Street,” of course, is that pension reform is bad for Wall Street. The biggest shareholders in the world are public employee pension funds. This began back in 1984, when the California state legislature placed a citizen’s initiative onto the ballot, Prop. 21, that “deleted constitutional restrictions and limitations on the purchase of corporate stock by public retirement systems.” Scarcely understood and narrowly passed, Prop. 21 turned California’s government pension funds into the biggest gamblers on Wall Street.

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Business vs “the people” in Chicago mayoral race? No, one crony group versus another

Former Obama chief of staff and current mayor of Chicago Rahm Emanuel is in the fight of his political life right now. Unable to garner more than 50% of the votes in last month’s mayoral election Mr. Emanuel now finds himself duking it out in a runoff with Jesus “Chuy” Garcia. Rahm is still favored, but Garcia is giving it a real run.

The race has been characterized as a battle between different wings within the Democratic Party. Rahm Emanuel we are told represents the “Wall Street wing,” whereas Chuy Garcia represents the “progressive wing.”

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Do we need the Export-Import Bank? Less than .01% of US business say maybe, Boeing says yes

The argument is that if taxpayers don’t subsidize purchases of Boeing’s jets by overseas airlines those airlines will buy European Airbus jets instead which are subsidized in all sorts of ways. Boeing argues that the elimination of Ex-Im puts the company at a competitive disadvantage. It is arguing essentially that Boeing is very nearly an official “US company” which deserves special treatment. Of course the profits continue to go to private shareholders. (Not the taxpayers, not that they should.)

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More Crony Clinton: (Hillary) plans to astound, intimidate with fundraising ‘like nothing you’ve seen’

Well she’s been doing the rounds for a long time already. 29 of the Dow 30 have already sent checks her way. But more money is coming.

I wonder what our friends on the legitimate Left are going to do about this? In the end probably vote to perpetuate crony capitalism I suspect.

As we’ve said before, many interests are very keen on seeing a Hillary/Jeb or Christie or Romney race in 2016. For the crony class it will be a win either way.

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