And we hear very little of why over a decade that cash returns have been negative. There are no more safe havens, just grifts.
For savers, there is a fraction 1/10 of 1% post-covid, makes you want to save a shitload there. The markets are not indications of wealthy people's feelings (Ball, 2020), and do not account for risk or underlying health of any company. Debts are passed onto individuals as a form of social shaming/sadism. And the bond market is going hell in a hand basket.
The wealthy are at war with us, and millions have no clue. No healthcare during a pandemic. Pay to play vaccines. Higher Education still charging students 30 year inflated tuition costs on the back of no healthcare. Regulation sleeps with the fishes, and Politicians get 2 hours to read 5000 page bills to vote on.
Actually political economists know quite a bit, and "sell-side" Economists know also something, but most will just find some sophistry to support the interests of their sponsors. Even when not ignorant, they are biased by vested interests.
Indeed, and Barbara Ehrenreich wrote a specific book about that: "Nickel and Dimed: On (NOT) Getting By in America". A number of businesses and rentiers make big profits by knowing that poor people are short of savings and cash and thus charge them disproportionately more for smaller purchases and fees when they have troubles etc.
This!! I suggested Ehrenreich for the book review. Most shocking to me was how many corps would only pay out salaries on debit cards, whether you had a checking account or not. Then when you used the debit card to make purchases, fees were deducted. The larceny and usury is devastating.
What do you expect when 70% of the country is financially illiterate? Our public indoctrination centers(schools) don’t teach what needs to be taught. Don’t even get me started on civics. It is even worse.
It’s dangerous to assume economists know anything these days
The U.S. government employees a battalion of PhD Economists and not one of them called the 2008 financial crisis. Fire them all.
And we hear very little of why over a decade that cash returns have been negative. There are no more safe havens, just grifts.
For savers, there is a fraction 1/10 of 1% post-covid, makes you want to save a shitload there. The markets are not indications of wealthy people's feelings (Ball, 2020), and do not account for risk or underlying health of any company. Debts are passed onto individuals as a form of social shaming/sadism. And the bond market is going hell in a hand basket.
The wealthy are at war with us, and millions have no clue. No healthcare during a pandemic. Pay to play vaccines. Higher Education still charging students 30 year inflated tuition costs on the back of no healthcare. Regulation sleeps with the fishes, and Politicians get 2 hours to read 5000 page bills to vote on.
This is crazy...
"This is crazy..."
Or, as the kids say, "Jokerfied."
One woman at SEC called it. She got fired. (Anyone remember her name? Blakely something???)
Blakesly Born
Brooksley Born
That's not their job though.
Actually political economists know quite a bit, and "sell-side" Economists know also something, but most will just find some sophistry to support the interests of their sponsors. Even when not ignorant, they are biased by vested interests.
I saw someone say on Twitter (my universe) yesterday: it’s terrifying how expensive it is to be poor.
Indeed, and Barbara Ehrenreich wrote a specific book about that: "Nickel and Dimed: On (NOT) Getting By in America". A number of businesses and rentiers make big profits by knowing that poor people are short of savings and cash and thus charge them disproportionately more for smaller purchases and fees when they have troubles etc.
This!! I suggested Ehrenreich for the book review. Most shocking to me was how many corps would only pay out salaries on debit cards, whether you had a checking account or not. Then when you used the debit card to make purchases, fees were deducted. The larceny and usury is devastating.
What do you expect when 70% of the country is financially illiterate? Our public indoctrination centers(schools) don’t teach what needs to be taught. Don’t even get me started on civics. It is even worse.