#AMC #GME @cvpayne For some time now I've been trying to get a handle on the "economy", viewing it from the perspective of the regulators, congress, and the financial industry.
How do the above entities view the "economy" and its priorities on a nation?
How do the above entities view the "economy" and its priorities on a nation?
I place quotes around "economy" because I want to convey that I'm not just talking about production and consumption within a country. I'm thinking more of a golden calf, a tangible thing but no less real.
At some point in history, the "economy" was lifted up to be the linchpin of the country. As the economy goes, so goes the country. True enough, it became so big that government doesn't understand banking and finances, so they just handed it over to regulators.
Congress relinquishes any real power they have to monitor, oversee, and control the financial industry. A very bad move for sure. Now regulators, more than likely former financial industry insiders are guarding the henhouse.
Congress, having relinquished that power because they lacked the intelligence to understand it, made the "economy" their golden calf. They've placed it on a pedestal but don't understand what they worship.
Regulators are just part of a revolving door of employment between government and the financial industry. They placate congress and the poors with signs they are "regulating", but none of us really knows what they're doing.
The financial industry, the FED included, has congress and the poors by the balls. They know politicians hang their entire careers on good "economy". "Do you want to be re-elected? Let us build a financial infrastructure that only we understand." The poors are for bailouts.
Hedge funds' self-reporting?!?!? Who in their right mind would relinquish the power of reporting?!?!? Nobody, unless they don't understand (congress) or someone who understands (regulators) and knows they might need a high-paying job outside government.
Need financial connections to start that #familyoffice, build a think tank, or a charitable org that is really just for money laundering? "Sure, do what we ask of you. Oh, and while we outpace your technology budget, keep cutting back on funding. That always helps us."
The "economy" is no longer just a tangible thing. It's a calf or a club handed to the financial industry by the government to beat the government and the poors on the daily. Remember, you as a taxpayer pay for the bailout and then live through the "economy" they build or collapse
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