Casino Fever.

Casino Fever.

Past performance doesn’t guarantee future results. Don’t try to time the market. Take advantage of the power of dollar-cost averaging.?All parts of the Disney-fairytale narrative to keep good, hardworking people trusting in a game of Wall Street Roulette; cleverly rigged to the advantage of The House. The Wall Street Casino-fever is celebrating the final spasms in the best Bull Run in world history from 2008 to 2022. Since the Wall Street insiders rigged the banking and stock market system and tanked our economy on September 28, 2008, our American Wall Street Casino has seen the total value of investments increase 5-6-fold since those dark days that Fall. Remember how the stock market tanked over 50%? Remember the CEOS of General Motors and others driving to Washington, D.C. to secure bailout money? ?I don’t blame General Motors or other corporations; the rich Wall Street bankers were conveniently hiding out at their palaces while working Americans wondered if they would continue to have a job or access to their ATM!? Our politicians and private-Federal Reserve players finished their backroom meetings with economists, bankers and investment insiders and crafted the biggest inter-generational theft in human history. The good news was that the sins of the Top 1% were easily forgiven and erased. More than 10 million Americans lost their homes. It would take almost a decade for the average working American to recover financially. We have short memories.

Remember Too Big to Fail??The government decided the best way to “save all of us from the brink” was to immediately provide a $700 billion so-called TARP bailout to stabilize our entire society; eventually $4.6 trillion of future taxpayer dollars would be used to backstop Wall Street – the top 1% of bankers, investment houses, and corporate raiders. Deborah Lucas of MIT, wrote in a 2019 article published in Annual Review of Financial Economics, that the total direct cost of those crisis-related bailouts on a fair value basis was about $498 billion, which amounted to 3.5 percent of gross domestic product in 2009. The hardworking American was once again bailing-out and subsidizing the sins of Wall Street Villains. There were tens of thousands of criminals involved in this tragedy; notice not a single Villain went to prison.?Can you name a single person who went to prison?

The music is still playing, but the party is over. The so-called “Smart Money”, the wise and sophisticated bankers and investment insiders, have been quietly pulling their investments out of the Ponzi-scheme and heading for safety at the same time they know Main Street Joe and Jane will once again be stuck without a chair when the music suddenly stops in coming months. The Buffet Index tells us the $51 trillion US stock market is severely overvalued with a ratio of 2.09; about 65% over the market’s long term average. Americans have over $10 trillion sitting in their 401K accounts this morning; what is the risk and next move? The $41 trillion US bond market is facing its own headwinds, and a tsunami is brewing in the Far East with China Evergrande-property developer expected to miss their giant principal payment on March 20th; this will probably create a spectacular bankruptcy implosion that will rattle all global bond markets and stock markets. The media barely mention any of these harsh realities. Most people are totally unaware of what it is happening; their so-called financial advisors keep telling them 2022 will be another great year in the markets. Remember, you can’t time the market.

Last week we crossed the River Styx; our children and grandchildren now have $30 trillion in national debt hanging over their heads. Do you think the families sitting on the Global 300 Council - or Klaus Schwab and their friends at the World Economic Forum – care about the future of your children? No, they do not. During the manufactured-Covid Crisis, the 31 million small businesses were crushed and compressed at the same time Wal-Mart, Target, Amazon, and Home Depot posted record sales. Covid wasn't a problem for the corporate raiders; just small businesses where 92% of Americans work. Did you ever stop and think about that? Do you realize that is a massive fraud thrust on the small business owner and American people? The 100 richest Billionaires in America gained almost $1 trillion in net wealth at the same time 100 million Americans lost $1 trillion in household wealth.

I am concerned about the hardworking American, playing by the rules, doing a great job of caring for their children, trying to do the right thing day-and-night so that they can send their kids to college and hopefully retire one day.?This large group of people are the bedrock of America; they drive the innovation and productivity gains in our 31 million small and large companies, they pay most through various forms of taxes, and send their kids to fight wars that nefarious central bankers and friends in Frankfort, Brussels, London, and New York manufacture to keep the biggest Ponzi-scheme of all time going.?Yes, it is true. It is not that hard to do some research and apply basic critical thinking skills.

Bernie Madoff was once the respected Chairman of the NASDAQ; now most people know that he also built the largest Ponzi-scheme and totally ripped-off $50 billion from tens of thousands of people. My family was impacted directly just like countless others. Did you know that there wasn't a single Wall Street Investment House that was holding any of Madoff's garbage when the music stopped? They all did the math and knew the truth. The SEC was warned countless times about Madoff's fraud for years before it all came crashing down; they did nothing. The music and lights are still playing and flashing at The Wall Street Casino. Think about that. Remember, past performance doesn't guarantee future results.

William Friend

Senior Director of National Accounts at Bausch + Lomb

2 年

Very well written.

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