If you haven't been paying attention, you might not be aware that management of the US economy has been outsourced to Larry Fink.
Yup, Larry's people now run both the fed and the US Treasury Department!
Larry's mission is to buy up all the bullshit paper that banks, funds, pension plans, and his fellow hedgies are stuck with, at face value, ie 100 pennies on the dollar. In the real world, much of that paper would be worth no pennies at all on the dollar.
Larry's buying spree is financed by the unlimited printing of fake money. Well, it's fake now, but it won't feel that fake when the working people of America are busy paying it back over the next several generations.
This is a fabulous strategy for the billionaires and the wannabees.
It's not so great for the rest of America.
No comments:
Post a Comment