AnCaps
ANARCHO-CAPITALISTS
Bitch-Slapping Statists For Fun & Profit Based On The Non-Aggression Principle
 
HomePortalGalleryCalendarFAQRegisterLog in
 

 Nomi Prins Fingers Trump's Financial Arsonists: "Next Financial Crisis - Not If, But When"

View previous topic View next topic Go down 
AuthorMessage
RR Phantom

avatar

Location : Wabbit Hole
Job/hobbies : Cayman Islands Actuary

PostSubject: Nomi Prins Fingers Trump's Financial Arsonists: "Next Financial Crisis - Not If, But When"   Sat Feb 03, 2018 4:21 pm

Thereís been lots of fire and fury around Washington lately, including a brief government shutdown. In Donald Trumpís White House, you can hardly keep up with the ongoing brouhahas from North Korea to Robert Muellerís Russian investigation, while it already feels like ages since the celebratory mood over the vast corporate tax cuts Congress passed last year. But donít be fooled: none of that is as important as whatís missing from the picture. Like a disease, in the nationís capital itís often what you canít see that will, in the end, hurt you most.



Amid a roaring stock market and a planet of upbeat CEOs, few are even thinking about the havoc that a multi-trillion-dollar financial system gone rogue could inflict upon global stability. †But watch out. †Even in the seemingly best of times, neglecting Wall Street is a dangerous idea. With a rag-tag Trumpian crew of ex-bankers and Goldman Sachs alumni as the only watchdogs in town, itís time to focus, because one thing is clear: Donald Trumpís economic team is in the process of making the financial system combustible again.

Collectively, the biggest U.S. banks already have their get-out-out-of-jail-free cards and are now sitting on record profits after, not so long ago, triggering sweeping unemployment, wrecking countless lives, and elevating global instability. †(Not a single major bank CEO was given jail time for such acts.) †Still, let's not blame the dangers lurking at the heart of the financial system solely on the Trump doctrine of leaving banks alone. They should be shared by the Democrats who, under President Barack Obama, believed, and still believe, in the perfection of the Dodd-Frank Act of 2010.

While Dodd-Frank created important financial safeguards like the Consumer Financial Protection Bureau, even stronger long-term banking reforms were left on the sidelines. Crucially, that law didnít force banks to separate the deposits of everyday Americans from Wall Streetís complex derivatives transactions. †In other words, it didnít resurrect the Glass-Steagall Act of 1933 (axed in the Clinton era).

Wall Street is now thoroughly emboldened as the financial elite follows the mantra of Kelly Clarkstonís hit song: ďWhat doesnít kill you makes you stronger.Ē Since the crisis of 2007-2008, the Big Six U.S. banks -- JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley -- have seen the share price of their stocks significantly outpace those of the S&P 500 index as a whole.

https://www.zerohedge.com/news/2018-02-02/nomi-prins-fingers-trumps-financial-arsonists-next-financial-crisis-not-if-when
_________________
Anarcho Capitalists Retail , Molyneux Cult Watch Souvenir Mall , OZschwitz Downunder BoutiqueAnarcho-Capitalists,AnCaps Forum,Anti-State,Anti-Statist,Inalienable Rights Defenders,Non-Aggression Principle,Non-Initiation of Force Principle,Rothbardians,Anarchist,Capitalist,objectivism,Ayn Rand,Anarcho-Capitalism,Anarcho-Capitalist,politics,libertarianism,Ancap Forum,Anarchist Forum,Vulgar Libertarians,Hippies of The Right,Forum for Anarcho-Capitalist,Forum for Anarcho-Capitalists,Forum for AnCap,Forum for AnCaps,Libertarian,Anarcho-Objectivist,Freedom, Laissez Faire, Free Trade, Black Market, Randroid, Randroids, Rothbardian, AynArchist, Anarcho-Capitalist Forum, Anarchism, Anarchy, Free Market Anarchism, Free Market Anarchy, Market Anarchy
Back to top Go down
 

Nomi Prins Fingers Trump's Financial Arsonists: "Next Financial Crisis - Not If, But When"

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
 :: Anarcho-Capitalist Categorical Imperatives :: AnCaps' Laissez-faire Free Trade Zone-