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'Spectacular Betrayal': Trump to Hand Economy 'Back Over to Wall Street'


#1

'Spectacular Betrayal': Trump to Hand Economy 'Back Over to Wall Street'

Deirdre Fulton, staff writer

President Donald Trump is set to hand the U.S. economy "back over to Wall Street" on Friday, with a regulatory rollback that critics say could put consumers and the financial system at risk.


#2

It makes one wonder when the Trump rank and file realize they have been betrayed.

Peace
Po


#3

Of all the tons of ink, electronic ink and radio/tv emissions spent considering the character, mental instabilities and activities of Mr Trump, there is one question I have not seen considered:

Why did those attending the Republican Convention choose this proven prevaricator, bloviating blowhard and loose cannon as their candidate?

He promised to drain the swamp, and practically all those at the convention were swamp-dwellers, yet they elected him.

Are they all crazy, or did logic support their choice of Trump?

Let's assume they're not all crazy. What then was their reason?

The only reason that seems plausible to me is that their intention is to use him as a point man, to install all of their their beloved and extreme Republican nastiness (which he is doing). Then after this is done, they will either impeach him or remove him for reasons of mental incompetence.

Then these swamp-dwellers can take over the government and continue with Trump's nasty policies without being blamed for initiating the nastiness. It will then be Republican business as usual - extremely so.

Trump will then fade into ignominy.


#4

The financial system needs gutting, It self-destructed and it should be totally reformed. Total household net worth shrunk by $15 trillion, from $64 to $49 in 2 years, see Flow of Funds report Fed. Reserve. Some $30 trillion in short-term loans buoyed the banks, see Levy Economics Institute for details. Since 2009 household net worth has increased from $49 trillion to $90 trillion, most of it financial assets, again see Flow of Funds, Table B.101. While most citizens were losing jobs, income, homes and wealth, the small portion at the top were amassing $41 trillion in assets, the top 1% own 42% of this $90 trillion. Something looks very fishy and unfair. Its finance in general. It has to be taxed heavily. The national debt in comparison is $20 trillion, and it was $10 trillion in 2008. We are being stepped on by big money and wealth. I write Economics Without Greed, http://benL8.blogspot.com


#5

What else should we expect from the mental-case trumpenfuhrer and his cabinet of planned destruction and greed? I am reduced to vindictive, utter contempt, and despair......if not for the wonderful millions in the streets I would be worse.

We are now the land of the corrupt "deal" and home of the liar-in-chief with no Constitutional "checks and balances" left - zeig heil! - waiting for a krystallnacht, another reichstag fire, and false-flag excuse for nuclear war.....

The most un-educated, ill-experienced, soulless, heartless, frankly mad, and shallow prez in history - the fish-head "leader" and his malodorous cabinet of horrors - the fascist counselor, the caricature skank idiot, the racist bigot, the stuttering mouthpiece, the oil magnate, the environmental rapist destroyer, the houseboy fool, the rabid warmonger, the banker/wall street usurers, the corporate tool, the for-profit education shill, the police-state spook, the zionist agent - and the predictable "fascism forever" court nominee - exactly what a criminal betrayal of everything America has ever ostensibly stood-for looks like.....could the stench possibly be any worse?................the answer is yes, just wait a day.............


#6

A big problem is that all pension funds, 401K and IRA's go to Wall Street through the government's collusion. The person on main street will never have the resources and ability to really understand what they are investing in. There needs to be massive simplification and retirement and other funds should be kept and invested locally. Why does CALPERs need to send all of its money to Wall Street and if they do, why not just invest in California companies. Most of them want to play the big shot and that means national or global. There is no reason to hop on the corporate jet when all of the investments are within 10 or 20 miles. But that's no fun for the players. Am I being naïve or can we get local and get simple. Also, the forcing of interest rates to all time lows by the FED has made investing in a simple passbook savings account or other insured cash investments almost a joke and really hurts the average person. They want people highly invested in non-insured investments where they have no idea of the risks - hedge funds, CDO's, etc, etc.


#7

Very similar to the old medical procedure of bleeding the sickness out of the patients.


#8

Since they voted for him in the first place, it is hard to see how rational thought could come into it now. They will be busy cheering on our military for the killing of civilian women and children in Yemen for instance.


#9

When hasn't Wall Street been in-control of our economy?

Be they a smooth talking democrat or a non-smooth talking republican, they've always made sure Wall Street was in charge.


#10

Anyone who EVER believed that Trump was even peripherally interested in reigning in the abuses of Big Finance Capital is a absolute fucking idiot. Maybe it is my Asperger's autism or something, but the reality of Trump as the ultimate candidate for Big Capital - from coal and oil to Wall Street, was always dead-obvious to me.


#11

SPECTACULAR BETRAYAL.

Benedict Donald has surrounded himself with the most corrupt, Wall Street quislings. Trump and his people that he has chosen, are guilty of treason to the 99% of America's citizens. Not surprised! But thoroughly disgusted!


#12

True.


#14

And the whitehouse is now the swamp


#15

" Never invest a dollar more in the stock market than you can afford to lose ". Well, it appears some Americans can afford to lose a lot of money and not be harmed, in any real sense.. So, where was the Democratic Party & President OhBummer with the stock transactions tax of one cent, or less, on trades? Nowhere right?
This is more evidence that The UniParty of 1%ers has nothing to fear from the 99%. Voting, and thinking you'll be represented at the intersections of Wall Street & The Swamp, is more magical thinking.
The poorest and neediest parts of this country spun the roulette wheel of desperation in November 2016, electing a bank robber to guard the bank. And, why wouldn't they? " When ya'got nothing, ya' got nothing to lose ".
Thanks a bunch, Old Confederate States. Thanks a bunch dirt poor working class heroes, with only a checking account to their name. Thanks a bunch car title loan clients without a pot to piss in nor a window to throw it out of. You'll make America great again by leveling the playing field, right down to the ground for all of us.
Ignorance is not truly bliss, it's potentially down right catastrophic to the 99s, regarding financial and mental wellness. And, Trump supporters decided to risk it on gambling, forgetting that what happens in Vegas, never really stays in Vegas.


#16

Just this a.m. discovered an old forgotten account. Better get my funds out before it vanishes.


#17

Perhaps I have Ausperger's as well, or maybe it was just blatantly obvious to anyone with a shred of a notion of rational thought, could have concluded that a fucking billionaire running on further huge tax cuts for corporations, a large military build-up, elimination of regulations on corporations, and who had a record of busting unions and offshoring jobs, was not a genuine populist that gave a flying cluck about the working class, or anything close to "anti-establishment".

The alt-left still defends him. Still holding out him being some force of peace on the world stage.

It blows my clucking mind.


#18

yep that's what I think..but when trump goes his minions will be all in


#19

Me too Chicken


#20

To be clear, the main demographic that elected Trump - including the Rust Belt and the south, was families in the comfortable end of the middle class (if they can avoid blowing it on luxury pickup trucks, "quads" for daddy, mommy, and all the kids, and a far bigger house than they need) with incomes between $50K and $100K, plus higher incomes on up there.

Sure, some poor without a pot to piss in voted for Trump - but the great majority of them don't vote at all.

The main motivator for voting for Trump was cultural and lifestyle-related - a love of the God, guns and the internal combustion engine, and a hatred of the yuppie "liberals" and "homosexuals" of the city. Financial distress figured very little in it. As I wrote, the genuinely poor don't vote.


#21

Who is defending Trump's actions in the first two weeks of his presidency? Nixon's and Reagan's silent majorities? Alt-left who?