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It’s here. Amsterdam AEX down 8,8%, Dow Jones Industrial Average (DJIA) down 4,1%, S&P 500 down 4,6%, FTSE (London) down 5,9%, CAC 40 down 9,4%, DAX (Frankfurt) down 7%. And on and on and on.

Check out Z24’s stock market overview. (Fifteen minutes delay.)

2 reacties op “STOCK MARKET CRASH

What did anyone expect? The investors have no confidence in these corrupt politicians. This bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not give the money directly to the American taxpayers? The government could do twice as much good for the economy by returning half as much money (as the bailout requires) directly to the hardworking American taxpayers. A bird in the hand is worth two in the bush administration.

“If the goal is to stimulate the economy, why not give the money directly to the American taxpayers?”
That’s what the Republican government has been doing these past 8 years. The problem is that they behaved just like bankers: they gave out loaned money.

Let’s not make that mistake again.

However painful it may be, the simple truth is that at least 1,5 percent of the world’s entire GDP growth per year was fake; hot air, results based on debt, credit and loans.

Just look at the gigantic number of companies that are completely financed by loans, taking it for granted. The nice way, by analysts and journalists, was to ask a CEO ‘how is your company leveraged?’ I.e., is your company floating on credit, and by how much?

This has nothing to do with John fucking Keynes, but everything with the adage “if you have a $50.000 loan at the bank and you default, you’ve got a problem, but when you’ve got a $5.000.000 loan with the bank and you default, the bank has a problem”.

THAT is the problem, my friend. Too many people have been kicking the debt can down the street for too long, and that while the can kept growing in size. And for too long, there was no one who said, “wait a minute – that can is WAY bigger than the Real Economy, let’s stop kicking it!”

Least of all your Republican friends, Mr Maszka.

Time’s up.

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