General Discussion
In reply to the discussion: Here We Go With The DOW Again [View all]Cheezoholic
(3,981 posts)While tons of people have 401k's/IRA's tied to the market when there are big massive swings they don't get to cash in all that much. Big players have the liquidity jump quickly, especially now, back into to a positive market and reap huge rewards on the order of 100's of billions. Big Hedge Funds and Multi Nationals use these big downturns to mop up small, intermediate and even large companies and consolidate them into the hands of a few. It especially includes real estate (Krasnov and his crooks territory). If we go into a deep recession loan defaults rise and once again, with all of the laws and regulations gone, huge Hedge Funds and Corporations swoop in and pick up for pennies on the dollar. If we go into a deep recession I'd bet 75% of Americans will be renting by 2030. We have never fixed the "too big to fail" problem of the banks. They'll just stick their hands out after they've sold off all of their corrupted assets.
One needs nothing more than to look at the massive wealth gained by so few at the expense of so many in this country in the last 20 years. And that wealth gain to actual production of "product" per se is non existent. It all came from Main St. and the other side of the tracks, that is the bottom 90% of taxpayers. I was listening to Ratner the other morning and he quoted an economist as saying the last 20 years has been the largest distribution of wealth from the bottom to the top in the last 300 years. I can't say if its true or not, I'm no economist like most of us. But hey, just look at the full all time S$P 500 chart. It is absolutely freaking obvious. Has the little guy made some in the last 20 years? Sure, if he can survive these crashes.
Republicans LOVE recessions thats why they put us in one when they've been in power every...EVERY... time in the last 50 years. Our economic system is broken and needs repaired like and old rusty truck.