The new Gilded Age – The psychology behind the aspirational rich in America and how people allow banks to swindle their financial security away.
A couple of weeks ago a survey of the ultra-rich by Fidelity Investments showed that most of these millionaires did not feel rich unless they had $7.5 million. Keep in mind that one out of three Americans do not have one penny to their name, not even stashed in the beat up mattress. It is […]
The financial scam of the century – In 2010 we added 600,000 millionaires while 5,000,000 people were added to the food stamp program. Wealthy derive profits from stocks while middle class hold most of their net worth in housing.
Part of the discontent roaming across America is that the economic recovery is targeted to a small portion of the population. This part of the population controls most of the mainstream media channels so the working and middle class are wondering why isn’t the fact that food, college, health care, or many other day to […]
Collective financial insanity – FDIC backing $5.4 trillion in total deposits on pure faith – US banking operating with negative deposit insurance fund and massive debt leverage. The greatest Ponzi scheme known in the financial world.
People psychologically are programmed to believe in financial realities that benefit their own cause even if they have no merit in empirical data. Many also forget that banks, especially the investment kind have a notorious track record of running amok when allowed to. The FDIC and US banking is a perfect example of a system […]
Wall Street rally based on fantasy valuations and investment banking trading – S&P 500 back to 2007 valuations and up nearly 100 percent from March 2009 trough.
Wall Street has a way of sucking people back into a money losing vortex. With hedge funds using high frequency trading boxes the public has no chance in competing with these organized and sophisticated gambling casinos. It is amazing how quickly people forget. It was only in March of 2009 that the S&P 500 hit […]