While it was Aristotle who said that "acting virtuous will make one virtuous" (and clearly Aristotle hasn't been to the same charity events/wealth orgies that I have, or he never would have said it), it is our modern Central Banking system that decrees that "acting like the economy is better will make the economy better."
Now, perhaps if they had spent $29,000,000,000,000 by giving 7Bn people $4,142.85 each – we WOULD have a better economy now – but that's not what happened at all, is it? Instead, 70,000 people and corporations (the top 0.0001%) got an average of $414M each while the other 99.9999% of us, especially the bottom 90% actually are now worse off than when the Central Banksters decided to meddle in our affairs in the first place.
The rich are indeed getting stunningly richer with the Forbes 400 (richest Americans) AVERAGING $800M gains in 2013 as the stock market (where most of their money is) rose over 30%. Again – AVERAGE gains of $800M per Billionaire! Once you get past #50 on the list (Google's Eric Schmidt with $8.3Bn), that's AT LEAST 10% of their total net worth added in a single year!
As I said in our recent trade review "Thank You Sir, MAY I Have Another", if they are just going to keep giving away money like this – we're going to just have to keep taking it (through our many bullish trade ideas) but, at some point, the music will stop and you'd BETTER be able to find a chair fast!
There's a very good reason the Corporate Media is constantly telling you how bad "class warfare" would be - BECAUSE THEY ARE ALREADY WINNING THE WAR AND YOU ARE NOT EVEN FIGHTING!!!
Like any good game of musical chairs, we have no idea when the music is going to stop, so we all have to keep dancing around like nothing is wrong until it does. As I pointed out yesterday, it's very easy to pay $150Bn for Amazon (at $327 per share) with money you just printed because…
Today global wealth is more highly concentrated in the hands of the elite than it ever has been at any other point in modern history. Once upon a time, the vast majority of the people in the world knew how to grow their own food, raise their own animals and take care of themselves. There weren’t many that were fabulously wealthy, but there was a quiet dignity in having land you could call your own or in having a skill that you could turn into a business. Sadly, over the past several decades an increasingly growing percentage of agricultural land has been gobbled up by big corporations and by corrupt governments. Hundreds of millions of people have been pushed off their land and into highly concentrated urban areas.
Meanwhile, it has become increasingly difficult to start a business of your own as monolithic global corporations have come to dominate nearly every sector of the world economy. So more people than ever around the world are forced to work for "the system" just to make a living. At the same time, those at the very top of the food chain (the elite) have spent decades rigging the system to ensure that increasing amounts of wealth will continue to flow into their pockets. So now in 2010 we have a global system where a few elitists at the top are insanely wealthy while about half the people living on earth are wretchedly poor.
There are very few nations around the world that have not been almost entirely plundered by the global elite. When the elite speak of "investing" in poor countries, what they really mean is taking control of the land, water, oil and other natural resources. In dozens of nations around the world today, big global corporations are stripping fabulous amounts of wealth out of the…
Semiconductors were the star of the week. The index cleared Match/April congestion and posted six consecutive winning days in a row. Technicals are all in the green and the index is above all key moving averages. Weakness will be a buying opportunity; a test of the 50-day MA would be a good start.
The Russell 2000 managed to regain the prior rising channel. Technicals are positive although it still has to make up relative ground against the Nasdaq. The index hasn't yet cracked new highs but one more days gain may be en...
China’s growth slows further. Japan ramps up the stimulus, bolstering the thesis that huge deficits are the next big financial mistake. The government’s fake numbers become a campaign issue. Charles Hugh Smith on why pension funds (that is, your retirement) are doomed. Great interviews with James Rickards and Helen Chaitman. Oil stabilizes and gold continues to correct. Look for next week’s COT report to be a lot less bearish. Bitcoin gets a serious cryptocurrency competitor. Trump clinches the nomination, but won’t debate Sanders. Clinton gets some bad legal news.
The rally in mining stocks since the first of the year has been very impressive.
The rally has taken Gold Miners ETF GDX up to test the 23% retracement of the collapse over the past 5-years. At the same time it is hitting the 23% level, two other resistance lines are being put to a test, with momentum at the highest levels in the past 5-years.
Graham Media Group, Inc., a Graham Holdings Company (NYSE: GHC) subsidiary, said it struck a deal with Nexstar Broadcasting Group, Inc. and Media General, Inc. to purchase WCWJ, a CW affiliate television station in Jacksonville, Florida and WSLS, an NBC affiliate television station in Roanoke, Virginia for $60 million in cash and the assumption of certain liabilities.
The agreement to acquire Nextar Broadcasting included pension obligations. Graham Media Group, Inc. would continue to operate both stations under their current network affiliations.
Graham Media said the acquisition is subject to approval by the FCC, other regulatory appr...
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Do you remember when you were growing up and all your friends were allowed Atari game consoles but you weren’t?
Well, I do and the things seemed as foreign to me as Venus. Mostly because the little time I managed to spend on the gaming consoles when my friends weren’t hogging them I found it all a bit silly. I never “got” computer games, and to this day still have poor comprehension of things like Angry Birds.
I suspect that many people around the world view Bitcoin in the same way as I view Angry Birds: with mild amusement and a general lack of understanding as to what the hell all the fuss is about.
I was thinking of this since a buddy of mine recently started ...
After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.
Although we try to stay focused on finding and managing promising trade ideas, the comments in the comment section sometimes take a political turn (for access, try PSW — click here!). So today, Jean Luc writes,
The GOP debate last night was just unreal – are these people running to be president of the US or to lead a college fraternity! Comparing tool size? The only guy that looks semi-sane is Kasich. The other guys are just like 3 jackals right now.
And something else – if Trump is the candidate, that little Romney speech yesterday is probably already being made into a commercial. And all these little snippets from the debate will also make some nice ads! If you are a conservative, you have to be scared now.
Phil writes back,
I was expecting them to start throwing poop at each other &n...
This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible. Feel free to contact me directly at email@example.com with any questions.
Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts. After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.) Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.
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