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Thursday, March 28, 2024

Kochtopus Wants the Little Guy to Buy Stocks as the Market Plunges

Courtesy of Pam Martens.

Stephen Moore

Stephen Moore

Last Friday, the stock market, as measured by the Dow Jones Industrial Average, plunged 665.7 points. This morning, after just one minute of trading at 9:31 a.m. in New York, the Dow had bled another 307 points. You can expect a big push for the balance of the day by the shills who want to keep the dumb money in the market as a prop for the 1 percenters as they take profits and run.

One member of the Kochtopus (short-hand for the secretive political network and nonprofit front groups backed by billionaire brothers, Charles and David Koch) is Stephen Moore, who has somehow secured himself the position of Senior Economics Analyst on CNN, the 24/7 cable news network whose tagline is “The Most Trusted Name in News.” After the market plunge on Friday, Moore was on air at CNN by Saturday afternoon urging the little guy to stand pat.

When queried about the Friday stock market selloff Moore stated: “Well, I want to try to walk people off the ledge here…I mean, it was a terrible day, no question about it, 670 points. A lot of points to lose on the Dow. But remember the Dow has been up 6,000 points or so over the last 14 months or so. So it’s given up about 10 percent of the gains. Look, the worst thing people could do right now is go out and sell their stock, especially if you are in a retirement fund, a 401(k). Just you know, in fact, I would say, you know, a lot of times you want to buy on the dips because stocks fell, and I would anticipate next week they will go up.”

First of all, no serious economist would ever predict what the stock market will do in a timeframe as short as a week — which raises questions about Moore’s real agenda.

Moore has previously attended the secretive Koch brothers’ political fundraising events and was a former Board Member of the dark money operation known as Donors Capital Fund, Inc. In 2008, Donors Capital sluiced $17,778,600 into the Clarion Fund so that it could release 28 million DVDs of the race-baiting documentary, Obsession: Radical Islam’s War Against the West.  This avalanche of DVDs was inserted in major newspapers across America just seven weeks before the Presidential election, in the midst of a whisper campaign that Obama was a Muslim. The DVDs flooded households in the swing voter states.  (See “Koch Footprints Lead to Secret Slush Fund to Keep Fear Alive,” our exclusive investigative report.)

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