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Jim Cramer: Coronavirus Pandemic Triggered 'One of the Greatest Wealth Transfers in History'

Originally published at http://www.commondreams.org/news/2020/06/05/jim-cramer-coronavirus-pandemic-triggered-one-greatest-wealth-transfers-history

and to think Cramer has the reputation of being a bloviating moron.

Good to know occasionally one of the chatty heads can get something right.

A reason, incidentally, for power to kinda want this pandemic gravy train to keep a-rollin’?

Goodness, but the rot is deep. It’s why you can’t redecorate this proverbial house. The whole thing has to be torn down and rebuilt.

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The game has long been over. No one believes there is a political solution to the staggering wealth and income inequality. The number of honorable politicians can be counted on one hand. End stage capitalism.

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For in much wisdom there is much vexation,
and he who increases knowledge also increases sorrow.
–Ecclesiastes 1:18

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Three times in 20 years, capitalism (especially the USA version) goes into cardiac arrest only to be resuscitated by central banks throwing money at corporations. And post-resuscitation, the already wealthy make out like bandits while us wage slaves suffer.

I’ll repeat what I said in 2008: fuck these bail outs, let this shit collapse – then we’ll rebuild it to reflect the dire need for something sustainable.

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Wrong again Cramer, the coronavirus pandemic didn’t trigger the greatest wealth transfers in history…
CONGRESS DID!!
And it didn’t have to be this way.

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The 565 billion +m came in from congress, federal reserve and 401K retirement plans.

Congress is not likely to pass any more family relief.

The stock market traders can pay taxes just like the rest of us. They pay capital gains rate by acquiring ‘bonus’ rather than wages.

The next hiccup from the boardrooms to hammer us into 5th world status is inflations.
plural.
For an individual, owning land and federal treasuries to survive.

Actually, the scientist who led Sweden’s response to Covid19 now says he has regrets. With nine times as many deaths as neighboring Norway, I can see why. If Sweden had the same population as the US, they’d be far ahead of us as the country with most deaths, what an honor:

~https://www.washingtonpost.com/world/europe/sweden-epidemiologist-anders-tegnell/2020/06/03/063b20e4-a5a0-11ea-b619-3f9133bbb482_story.html

And far from being rejecters of law, the Swedes are notably more trusting of government and scientific authority. Also, it wasn’t public health measures that redistributed wealth, it was The Fed and Congress.

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How we are going to help our country? Go socialist.

Not to belabor this, but from my link above:

“Facing heat from voters, Sweden’s center-left government said this week that it would appoint a commission to investigate the country’s handling of the pandemic. Confidence in the public health response is dropping, according to several polls released Thursday. A Novus survey for public television found 45 percent of people now trust the government’s response, down from 63 percent in April.”

My wife works on the periphery of public health.
She’s not a fascist and has nothing but contempt for the ruling class.

We need a 90% tax rate for our 600 billionaires, and we need it now!

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"… a new analysis showed the fortunes of U.S. billionaires increased by $565 billion between March 18 and June 4."

At least now we know where over 1/2 trillion dollars of the several trillion dollars that the Fed printed went. I also highly suspect that those extra trillions of dollars the Fed provided industries may explain why the stock market is doing so well while small businesses are dropping like flies.

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Speaking of covid-19, we did some grocery shopping today. I admit to being hyper-vigilant, but every person of color had no mask on while 3/4 of whites did have one on. This included a number of individuals and a family of three adults with five or six young children. A head scratcher for me.
100% non compliance by people of color. What the heck do they think all of the sneeze guards are there for?

Thats the exact same phrase that Michael Moore, former DG of the WTO (and ex NZ PM) used to describe what GATS Mode Four was supposed to do.

This culling has little to do with coronavirus because it was planned for decades, its totally a coincidence that it came along now, though.

Small business may create a lot of jobs but the disruptive global megacorporations see them as inefficient speed bumps blocking their global pillage. They feel they are doing us a favor taking them out. All that vacated and foreclosed property with all its improvements will be put to use feeding their endless appetite for fine homes and exquisitely ostentatious wealth.

While my reply is more about the violence which is the history of our nation, that violence can also be attributed to the bullying control our plutocratic controlled government has over our money supply.

“Of course books can, and have been, written on the subject of American violence. I hear NPR affiliated broadcasts, and other media outlets subtly trying to shift the conversation from the outrageous violence portrayed against George Floyd by Derek Chauvin, a representative of our government agencies, to other subjects such as the economic situation of some segments of our population being a cause of the protests in our streets. I wholeheartedly disagree with this shift. We should instead be having a discussion on the “violence that the United States of America” has always represented to the world. In a sense George Floyd could be the flame that will shed light on all the injustice which is our nation’s history. Whether it be racial injustice, economic injustice or health and environmental injustice our country and its saturation with violence have been with us since our very founding. The vast majority of us have been controlled by the propaganda disseminated by schools, government and media since our early childhood declaring America’s greatness. This propaganda must be uncovered and brought out into the light of day if we are ever to be able to live peaceably amongst our own people and with others around the world. We missed our opportunity to rise up with the assasination’s of Martin Luther King and JFK and their resulting government cover-ups. What this speaks for us as “the People” in so many ways is we are what we allow our government to portray us as, a violent people. We are not a violent people; but, we continue to run with a violent government. Our parents tried to instill this on us in our youth, “we are an image of the company we keep”. Many of us, as now, did not heed that advice. As a 75 year old white male, Vietnam veteran (Capt, pilot and Minuteman Missile Crew Commander) and growing up in the South, I have the background to say what I am saying. As a citizen of this country, I am no longer able to be proud to be associated with the bad company my country represents and has always represented, as it is a reflection on my character. Is this nation salvageable? I don’t know the answer to my question; but, my guess is that it is not. Our very history as a nation conceived in violence, tolerating violence and continuing to look aside at our government’s violence cannot survive. This history and the indifferent conduct by us all helps me in forming my opinion. With our very Constitution giving us, the People, the “right and the responsibility” to turn out a government which no longer represents us and “we the People” sitting idly by as witnesses while its knee is on our necks shows a cowardice and a reputation of subservience which is rightly deserved. Our Constitutional right as established by our “forefathers and founders” has been for too long ignored. Now, Human Caused Climate Change further exasperated by our tolerance for our government’s military violence against the rest of the world in its endless wars most likely will not allow the time nor the economic capability for the real changes our population needs to make. As we have seen for so many years, elections do not make a dime’s worth of difference in a nation controlled by wealth and which depends on the violence of war to support the majority of its economy. We are a nation of violence. We are just another of history’s violent empires, that will certainly fail. We are like the ferocious dinosaur, Tyrannosaurus Rex, screaming and roaring while drowning in the tar pit of oil wealth as we surely will. And for some seeming inexplicable reason we will all sit idly by as those cowardly Minneapolis cops did and watch it happen.”

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I think it’s possible to simultaneously focus on both the systematic violence and the systematic economic enslavement that are the hallmarks of this country. Both depend on racism, which isn’t a particularly American phenomena.

Thank God the anti-Semites are out!

How we are going to help our country? Go socialist.

Now that is a thought. I wonder if the elites ever took into account the possibility, in light of ever more difficult circumstances for many people under the present capitalist system, that Communism begins to look inviting to them.