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Evelina
2020-05-12 09:51

The Bailout is Working for the Rich

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”The S&P 500 is now up 30% from its lows in mid-March and back to where it was last October, when the outlook for 2020 corporate earnings looked sunshiny. Companies have sold record amounts of debt in recent weeks for investment-grade companies. Junk bonds, historically dodgy during an economic swoon, have roared back. If you’re looking for investors’ verdict on who has won the bailout, consider these returns: Shares of Apollo Group, the giant private equity firm, have soared 80% from their lows. The stock of Blackstone, another private equity behemoth, has risen 50%. The reason: Asset holders like Apollo and Blackstone — disproportionately the wealthiest and most influential — have been insured by the world’s most powerful central bank. This largess is boundless and without conditions. “Even if a second wave of outbreaks were to occur,” JPMorgan economists wrote in a celebratory note on Friday, ’the Fed has explicitly indicated that there is no dollar limit and no danger of running out of ammunition.’” -Propublica https://www.propublica.org/article/the-bailout-is-working-for-the-rich

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Niklas
2020-05-12 16:22
#1

I saw this video with Scott Galloway on the same theme yesterday.

» Bailouts or Cronyism? - VICE ON TV

He isn't happy.


Best regards, Niklas 🎈

Niklas
2020-05-14 13:28
#2

I'm surprised Americans accept as much as they are from the leadership. I would have thought they'd be fed up a long time ago.


Best regards, Niklas 🎈

Evelina
2020-05-14 15:00
#3

I think that many people don’t comprehend what is going on or they do and don’t have any means to act on it. Everything is happening so fast and many are preoccupied living paycheck to paycheck or they are not involved politically. Many just subscribe to right wing populist rhetoric and get angry at the situation for the wrong reasons, especially if they only listen to Fox News and are reading every tweet by Trump. 🤷🏻‍♀️

Niklas
2020-05-18 09:55
#4

Yes, that is part of what I’m surprised by. I think there are many easy conclusions to draw by just following some of the news flow. You’d almost have to live like a hermit not to understand. And they obviously do vote, so they have some level of engagement that those are feeling helpless and powerless usually don't have. Also, they are not a small majority. In the last election they were almost half of Americans. Surely, not that many are in the group you describe?


Best regards, Niklas 🎈

Niklas
2020-05-18 09:56
#5

#4: That sounded a bit like I expect you to defend the situation which isn’t at all what I meant. 🙂 I’m just confounded.


Best regards, Niklas 🎈

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