America Is Not The Land Of The Free But One Of Monopolies So Predatory They Imperil The Nation

[skews13]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

Is Dodd-Frank proper control and regulation?

No. Glass-Steagall is, and it needs to be reinstalled.

Glass-Steagall wouldn't have stopped crappy mortgages.

Actually, it would have stopped them, by preventing the unscrupulous lenders from making the loans, abd the criminal bankers from selling off the debt.

 

[Dick Foster]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

Spoken like a true communist shitforbrains.

 

[Mac1958]

Glass-Steagall wouldn't have stopped crappy mortgages.

Of course it would have. Those shit mortgages would have had nowhere to go, so they couldn't have been sold by noon the next day into a shit "tranche", and the mortgage companies wouldn't have been able to write them in the FIRST PLACE. Because....

...the banks would never have been able to create those shit CMOs and shittier CDO's. Synthetics would not have proliferated. The ratings agencies would not have had given those shit securities Treasury-level AAA ratings. AIG wouldn't have been selling swaps WITH NO RESERVE REQUIREMENTS to allow banks to leverage into those shit securities even higher than they did. The banks would not have been able to BET AGAINST the SAME SHIT SECURITIES they were CREATING and SELLING to CLIENTS.

On and on.

Holy shit.

You clearly don't know what happened. There's plenty of information out there on this. It's not fake news.
.

 

[Defiant1]

We can start by breaking up the monopolies of Google, Facebook, Pinterest, Twitter.

We don't need the government to do that.

Government needs to stay out of it.

People have the say. Don't like Google, replace it. Same with the others.

What you are really asking is for the government to control people.

 

[Thinker101]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

Yep, America is not the land of the free healthcare and free college....dumbass.

 

[Toddsterpatriot]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

Is Dodd-Frank proper control and regulation?

No. Glass-Steagall is, and it needs to be reinstalled.

Glass-Steagall wouldn't have stopped crappy mortgages.

Actually, it would have stopped them, by preventing the unscrupulous lenders from making the loans, abd the criminal bankers from selling off the debt.

You're wrong.

Glass-Steagall had nothing to do with stopping bad loans.
Banks have always bought/sold debt.

 

[Remodeling Maidiac]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

Yet every poor family has a 1000.00 cell phone, 55" flatscreen tv, game console and million dollar rims on their jalopy.

 

[Harpy Eagle]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

I just cannot abide by the concept of punishing success.

Google, FB and Amazon all started at the same place as the people they have beaten in the market.

Hell I remember people saying FB would never beat out MySpace

 

[Mac1958]

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

Is Dodd-Frank proper control and regulation?

No. Glass-Steagall is, and it needs to be reinstalled.

Glass-Steagall wouldn't have stopped crappy mortgages.

Actually, it would have stopped them, by preventing the unscrupulous lenders from making the loans, abd the criminal bankers from selling off the debt.

You're wrong.

Glass-Steagall had nothing to do with stopping bad loans.
Banks have always bought/sold debt.

Yes. That's how these shit securities started. When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them. Then the shit hit the fan and along came the Meltdown as a result.

But they have not always created and sold proprietary securities, derivatives and synthetics, both for clients and their own accounts. That's the heart of the Meltdown, right there.

You're wrong. You're letting your ideology get in the way of honestly educating yourself on this.
.

 

[Toddsterpatriot]

Glass-Steagall wouldn't have stopped crappy mortgages.

Of course it would have. Those shit mortgages would have had nowhere to go, so they couldn't have been sold by noon the next day into a shit "tranche", and the mortgage companies wouldn't have been able to write them in the FIRST PLACE. Because....

...the banks would never have been able to create those shit CMOs and shittier CDO's. Synthetics would not have proliferated. The ratings agencies would not have had given those shit securities Treasury-level AAA ratings. AIG wouldn't have been selling swaps WITH NO RESERVE REQUIREMENTS to allow banks to leverage into those shit securities even higher than they did. The banks would not have been able to BET AGAINST the SAME SHIT SECURITIES they were CREATING and SELLING to CLIENTS.

On and on.

Holy shit.

You clearly don't know what happened. There's plenty of information out there on this. It's not fake news.
.

Of course it would have.

Feel free to post the portion of Glass-Steagall that prevented crappy mortgages from being written or sold.

AIG wouldn't have been selling swaps WITH NO RESERVE REQUIREMENTS

Or the portion of Glass-Steagall that applied to AIG.

The banks would not have been able to BET AGAINST the SAME SHIT SECURITIES they were CREATING and SELLING to CLIENTS.

When you sell a synthetic, by definition you're "betting against it".

 

[Toddsterpatriot]

Is Dodd-Frank proper control and regulation?

No. Glass-Steagall is, and it needs to be reinstalled.

Glass-Steagall wouldn't have stopped crappy mortgages.

Actually, it would have stopped them, by preventing the unscrupulous lenders from making the loans, abd the criminal bankers from selling off the debt.

You're wrong.

Glass-Steagall had nothing to do with stopping bad loans.
Banks have always bought/sold debt.

Yes. That's how these shit securities started. When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them. Then the shit hit the fan and along came the Meltdown as a result.

But they have not always created and sold proprietary securities, derivatives and synthetics, both for clients and their own accounts. That's the heart of the Meltdown, right there.

You're wrong. You're letting your ideology get in the way of honestly educating yourself on this.
.

When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them.

What regulation did he skirt?

 

[Dragonlady]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

Be bold...
When translated does that mean “Father Government should ‘control’ all commodities”?

Why is this the first place your tiny mind goes to. Is this the only track you know?

Small companies are far more innovative and nimble than large conglomerates. If a small business owner has an idea, he simply tries it out, and if it works he goes with that, and redirects his resources to bringing this innovation to market.

If you have an idea in a large corporation, you have to submit the idea to management and "sell" them on the value of this innovation. Then you have to get the company to allocate the resources you need to make it happen. You may have to go through several layers of management in order to make this happen, and those above you are going to want to add their own ideas to your project as you go.

The two most innovative entrepreneurs of the past 100 years, Bill Gates and Steve Jobs, both started out with nothing but their ideas, and built from there. But Jobs was tossed out of Apple Corp. because he doesn't play well with others. When the company started to fail because they had no way to innovate without him, they brought him back, and pretty much left him to his own devices.

IBM used to be one of the most innovative companies in America. Once they became a behemmouth, they became less innovative. What was the last great innovation coming out of IBM, or Hewlitt Packard?

The problem has become that the largest corporations are gobbling up the successfully innovative companies, and that adds all of those layers of management to stifle innovation. I was hired by one such innovator. His small but very successful project management company which used a proprietary computer app to cut construction costs, was acquired by the largest real estate management company in the world. He made millions on the sale, and was now a Vice-President, in charge of the division he once owned. The sale gave him the resources to take his innovation world wide, but . . . He then went on to note that he had lost his automony. He had to conform to a different corporate culture and ethics. He was expected to "go along to get along" in corrupt countries. Given his druthers, he would not have even entered such markets. It was no longer his choice. His options were now to take the money and run, abandoning his "baby". There was a 5 year non-compete clause so he couldn't just use the money to "start over", and his great invention now belonged to someone else who would continue to profit from it, or stay in a corporate culture that made him uncomfortable.

But I also know the man who invented the technology to make the wireless, hand held credit and debit cards machines used in restaurants secure from hacking. I did his patent application. OkiData in Japan offering to make him a "very, very rich man" for the rights to his patent, but he wanted to exploit the technology himself. He had neither the capital, nor the ability to do that and ultimately went bankrupt, losing the rights to his invention in the bankruptcy when it was sold to the highest bidder to pay his creditors. One of the saddest business stories I know of.

 

[Theowl32]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

What caused the meltdown?

You say this didn't have anything to do with it.





So, the government putting pressure on banks to make affirmative action loans.

Call it what you want, that is what that was.

 

[Mac1958]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

What caused the meltdown?

You say this didn't have anything to do with it.





So, the government putting pressure on banks to make affirmative action loans.

Call it what you want, that is what that was.

Yes, that's the talk radio version of what happened.

It's wrong, and ignores an incredible amount of facts, but I'm familiar with the fantasy.

This is my profession. I've studied this. I still do. You're a Trumpster. I'll go with my version.
.
.

 

[BrokeLoser]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

Be bold...
When translated does that mean “Father Government should ‘control’ all commodities”?

Why is this the first place your tiny mind goes to. Is this the only track you know?

Small companies are far more innovative and nimble than large conglomerates. If a small business owner has an idea, he simply tries it out, and if it works he goes with that, and redirects his resources to bringing this innovation to market.

If you have an idea in a large corporation, you have to submit the idea to management and "sell" them on the value of this innovation. Then you have to get the company to allocate the resources you need to make it happen. You may have to go through several layers of management in order to make this happen, and those above you are going to want to add their own ideas to your project as you go.

The two most innovative entrepreneurs of the past 100 years, Bill Gates and Steve Jobs, both started out with nothing but their ideas, and built from there. But Jobs was tossed out of Apple Corp. because he doesn't play well with others. When the company started to fail because they had no way to innovate without him, they brought him back, and pretty much left him to his own devices.

IBM used to be one of the most innovative companies in America. Once they became a behemmouth, they became less innovative. What was the last great innovation coming out of IBM, or Hewlitt Packard?

The problem has become that the largest corporations are gobbling up the successfully innovative companies, and that adds all of those layers of management to stifle innovation. I was hired by one such innovator. His small but very successful project management company which used a proprietary computer app to cut construction costs, was acquired by the largest real estate management company in the world. He made millions on the sale, and was now a Vice-President, in charge of the division he once owned. The sale gave him the resources to take his innovation world wide, but . . . He then went on to note that he had lost his automony. He had to conform to a different corporate culture and ethics. He was expected to "go along to get along" in corrupt countries. Given his druthers, he would not have even entered such markets. It was no longer his choice. His options were now to take the money and run, abandoning his "baby". There was a 5 year non-compete clause so he couldn't just use the money to "start over", and his great invention now belonged to someone else who would continue to profit from it, or stay in a corporate culture that made him uncomfortable.

But I also know the man who invented the technology to make the wireless, hand held credit and debit cards machines used in restaurants secure from hacking. I did his patent application. OkiData in Japan offering to make him a "very, very rich man" for the rights to his patent, but he wanted to exploit the technology himself. He had neither the capital, nor the ability to do that and ultimately went bankrupt, losing the rights to his invention in the bankruptcy when it was sold to the highest bidder to pay his creditors. One of the saddest business stories I know of.

The common business practices you describe are nothing new in the world...this shit has been happening since the beginning of commerce / trade. Only recently have such practices been exploited thanks to social networking / the internet and louder cries for socialism from the LefTarded beggars.

 

[Theowl32]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

What caused the meltdown?

You say this didn't have anything to do with it.





So, the government putting pressure on banks to make affirmative action loans.

Call it what you want, that is what that was.

Yes, that's the talk radio version of what happened.

It's wrong, and ignores an incredible amount of facts, but I'm familiar with the fantasy.

This is my profession. I've studied this. I still do. You're a Trumpster. I'll go with my version.
.
.

What caused it Mac!?

Be specific.

 

[BrokeLoser]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

What caused the meltdown?

You say this didn't have anything to do with it.





So, the government putting pressure on banks to make affirmative action loans.

Call it what you want, that is what that was.

Yes, that's the talk radio version of what happened.

It's wrong, and ignores an incredible amount of facts, but I'm familiar with the fantasy.

This is my profession. I've studied this. I still do. You're a Trumpster. I'll go with my version.
.
.

You much prefer the far more complex, blurry version of the “meltdown” for obvious reasons....BUT, anyone even half sane knows that Billy Blowjob was at the root of it all, he created the monster and breathed life into subprime lending....THE END

 

[Mac1958]

.

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
.

What caused the meltdown?

You say this didn't have anything to do with it.





So, the government putting pressure on banks to make affirmative action loans.

Call it what you want, that is what that was.

Yes, that's the talk radio version of what happened.

It's wrong, and ignores an incredible amount of facts, but I'm familiar with the fantasy.

This is my profession. I've studied this. I still do. You're a Trumpster. I'll go with my version.
.
.

What caused it Mac!?

Be specific.

I know you won't bother, but I laid it all out here, because I'm done trying to educate Trumpsters who are afraid to learn:

The Meltdown, explained

Now, whatever you do, avoid educating yourself.
.

 

[Mac1958]

Toddsterpatriot, to answer your questions;

When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them.

What regulation did he skirt?

NONE. THAT'S THE POINT. Solomon was able to create and sell these things without the SEC or FINRA giving their blessing. They went straight from the mortgage desk into shit securities. Do you understand?

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Of course it would have.

Feel free to post the portion of Glass-Steagall that prevented crappy mortgages from being written or sold.

There WAS none. This is about SECURITIZED mortgages, not mortgages. Those are TWO DIFFERENT THINGS. Didn't you know that???

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AIG wouldn't have been selling swaps WITH NO RESERVE REQUIREMENTS

Or the portion of Glass-Steagall that applied to AIG.

These kinds of swaps didn't exist when GS was written. But they wouldn't have been needed, since the banks couldn't securitize mortgages IN THE FIRST PLACE. Is this a joke???

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The banks would not have been able to BET AGAINST the SAME SHIT SECURITIES they were CREATING and SELLING to CLIENTS.

When you sell a synthetic, by definition you're "betting against it".

No, it's not. The banks were SHORTING them and BUYING SWAPS on them. Do you know that means? And did you know that John Paulson and Goldman created shit securities SPECIFICALLY TO FAIL, sold them, and then shorted them? Paulson made TWO BILLION on that one. Did you know that?


Try this stuff on someone else. I'm done trying to educate Trumpsters on this. You guys DON'T WANT to know.
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[LordBrownTrout]

The US economy is becoming increasingly harmed by ever less competition, with fewer and fewer companies dominating sector after sector – from airlines to mobile phones. Market power is the most important concept in economics, he says. When firms dominate a sector, they invest and innovate less, they peg or raise prices, and they make super-normal profits by just existing (what economists call “economic rent”). So it is that mobile phone bills in the US are on average $100 a month, twice that of France and Germany, with the same story in broadband. Profits per passenger airline mile in the US are twice those in Europe. US healthcare is impossibly expensive, with drug companies fixing prices twice as high or even higher than those in Europe; health spending is 18% of GDP. Google, Amazon and Facebook have been allowed to become supermonopolies, buying up smaller challengers with no obstruction.

This monopolising process gums up everything. Investment in the US has been falling for 20 years. Because prices stay high, wages buy less, so workers’ lifestyles, unless they borrow, get squeezed in real terms while those at the top get paid ever more with impunity. Inequality escalates to unsupportable levels. Even life expectancy is now falling across the US.

America is not the land of the free but one of monopolies so predatory they imperil the nation | Will Hutton

We have allowed capitalism to become distorted by refusing to place and maintain its needed controls.

Proper controls and regulations are not a bane to capitalism, as some think; they're a critical component of it.

We learned nothing from the Meltdown.
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Not a thing. The next collapse will usher in the global mark/currency.