The Jew-Controlled Wall Street Casino!
David Stockman posted...
Harvard windbag and former Treasury Secretary Larry Summers recently
floated the idea that the Fed should start buying common stocks to
buoy the markets. What does that say about the state of the casino?
It means the end is probably near. That is an act of desperation.
That is an idea that no economist worth his salt even 20 years ago
would have contemplated for one moment. What in the world would
buying stocks do except inflate the value of stocks? This is about
as far from the Keynesian catechism as you can get. As bad as Keynes
himself was about so many things, he never imagined half the things
that are seriously being discussed today. So our monetary rulers
have pursued policies that have led to a dead end and the looming
crackup of bubble finance. It started with the Maestro, Alan Greenspan,
in the 1990s. But it’s become a runaway freight train since the Panic
of 2008.
Now our monetary masters are flailing about desperately trying to
explain why they weren’t wrong and why their policies will work if
only another bold extension of that policy were to be embraced at
the present moment. They won’t. It’s all desperate nonsense. And
that’s the main reason I believe we’re going to have a crackup. The
word that comes to mind to describe all this is “madness.” Today’s
policy is the very opposite of what monetary policy attempted to
do in the early ‘80s when the Reagan era began. Granted, the
circumstances were different then, for different reasons. Inflation
was the bugaboo then. Today, Yellen and her fellow dunces in Europe
and Japan can’t even generate the 2% inflation they falsely think
holds the key to economic prosperity. But in those days we had people
like Paul Volcker, who didn’t think the central bank was the crucial
agent of capitalist prosperity. Nor did he believe he had to supervise
and control every aspect of the market economy. He had a far more
modest conception of his role. That is to say, a far more realistic
conception of his role.
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Volcker jacked rates to a peak of 20% in June 1981 because inflation
had gotten way out of control due to the excess monetary stimulus of
the ‘70s. The monetary machinery had gone into overdrive after Nixon
closed the gold window in 1971 and Imperial City discovered the
unlimited freedom of a printing press unshackled to gold. Volcker
sought to correct that error. So doing, he paved the way for
conventional capitalism to heal itself and restart the process
of growth, investment and wealth creation. But the mentality we’re
saddled with today is altogether different. Janet Yellen and her
merry band on the Federal Open Market Committee (FOMC) think they’re
the indispensable twelve. Without them at the dials constantly watching
the incoming data and taking appropriate action, the whole economy will
go to seed. Rubbish! That is a foreign conception to the original purpose
of central banking. But it’s a measure of how far we’ve waded into the
monetary swamps. And none is deeper than the swamp located at the Eccles
Building. As I say in my book, Trumped!, it’s created a “mutant capitalism”
that really has no historical precedent. Nor does it have any grounding in
traditional economic theory. It’s the stuff of cranks.
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As I’ve said before, they’re just making it up as they go along. And
it’s getting crazier by the day. Larry Summers’ jabberwocky about the
Fed buying stocks is just the latest example. With a properly functioning
(no Jews) media, folks like Summers would have been laughed out of town
years ago. But unfortunately, the mainstream (Jew) media is simply the
financial establishment’s (Jews & Shabboz Goys) broadcasting arm. Make
no mistake, the mainstream financial press is Wall Street’s bullhorn.
Nothing else matters as long as stocks rise, come hell or high water.
And it’s fully on board with the idea that there’s nothing wrong with
eight years of “unconventional monetary policy.” Of course, Washington
and the Beltway politicians love that same unconventional monetary policy
since it’s kept the yield on the massive debt that they’ve created so
low they can pretend it’s practically free. So you have the worst of
both worlds in what I call the Acela corridor. Wall Street and its media
toadies applaud this policy because it keeps stocks artificially elevated.
And Washington applauds it because it lets them off the hook for the massive
fiscal crisis they’ve generated.
And let’s face it, folks: Nowhere is the anti-Trump more evident than the
establishment media. The fact is, it’s attacked the Trump candidacy in a
way I’ve never seen before. It’s nothing short of a media jihad, or an
assassination campaign. Nothing is too trivial to use as an indictment of
Trump’s character, his temperament or his inexperience. This is extraordinary
in its intensity, and I don’t think we’ve seen the end of it yet. In its war
on Trump, the so-called liberal press has become downright McCarthyite in its
baiting of Putin and its griping about supposed Russian hacking. They’re trying
to divert the American people’s attention away from the substance of the leaks.
They’re shooting the messenger. Of course, there’s no real proof Russia is the
messenger at all. The press is simply parroting the hysteria wafting out of
Imperial City’s national security catacombs. Imperial City and its media errand
boys are trying to make Putin out to be another Hitler. Come on! The threat
from Russia is thoroughly exaggerated, if it exists at all. But the national
security racket needs an enemy to justify its steep price tag. As I said, all
this diversionary talk about Russia is to simply defend the bipartisan status
quo against the threat of outsiders and disruptors and people who haven’t been
schooled in the fundamental rules of Washington.
Needless to say, the Republican establishment is a major voice in the anti-
Trump chorus. When it comes to the political establishment, there’s only one
real party — the (Jew-controlled) Washington party. Its sole purpose is to
enrich itself and aggrandize (Jew) power. It’s about the establishment squeezing
the system for every dime (isn't that what Jews do?), holding power and perpetuating
the regime. I don’t know any other way to explain it. But the laws of economics
will not remain silent forever. It’s only a matter of time before the fantasies
of the Welfare/Warfare state ends in a harsh and unfortunate way. And the “deplorables”
in Flyover America can sense it coming. That’s why we have a Donald Trump. The
American people have completely and utterly lost faith in the establishment and its
(Jew) media. Now, it’s not so much that the program Trump put forth is compelling.
In fact, his program is hard to discern. It’s more sound-bytes and slogans that
seem to change from day to day. And Trump’s no ideological conservative. He’s
not going to start rattling off passages from the Federalist Papers or quoting
(Shabboz Goy) William F. Buckley.
The reason the public is responding is because he’s saying, “I’m not part of that
establishment. I’ve not been there for 30 years drinking the Kool-Aid. I’m not
part of the rigged game. No one has paid me off and I’m not part of this pay-
to-play syndrome that has enveloped Washington.” That message, if inarticulately
delivered at times, is why there’s an insurrection unfolding and Trump has become
the vehicle for its expression. But let’s not forget, Bernie Sanders was also a
vehicle for its expression. If it weren’t for behind-the-scenes scheming within
the Democratic National Committee, Bernie Sanders probably would have gotten the
Democratic nomination. The rise of the anti-establishment candidates is the
American people’s way of saying, “we’ve had enough.” It’s possible a percentage
of Bernie Sanders voters, sick of Hillary, could respond to Trump’s message at
the polls next week. That, of course, shouldn’t happen in a rational political
universe because Sanders is about as left as you can get. Trump is a far-right
zealot in comparison. Whatever happens, and even if Hillary wins the election,
the jig is up for the party establishments and their enablers in the (Jew-owned)
mainstream press. The mask has finally been ripped off, and the American people
are seeing the monstrous face beneath. And there’s no putting it back on.
- Former Reagan Insider
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