Thursday, November 24, 2016

Trump's Happy Holidays for the Rich: Oligarchies Still Popular on Wall Street

Shortly after Trump's "unexpected" win, the financial futures
markets took a steep dive, but then quickly recovered, rallying to
new heights. We are now in historic ~1900 DJIA points territory.
There are absolutely no surprises here, dating back as far as you
like, to even before the Dutch East India Company and other
"greed is good"  groups/corporations/combines.

I wonder how Wall Streeters hold their heads up so proudly
amid their many scandals, seldom escaping from a decade
without a major one; no embarrassment engages them in
any will to change, reform. Probably, they shrewdly note that,
given time, everything blows over for most Americans...but not
for me. Ivan Boesky,  Michael Milken, the Savings and Loan
debacle, dot com crisis, Enron, Bernie Madoff--they all are major
malfeasance felons  fresh in my mind. Wall Street employees
and major brokers are unconcerned with what their policies
and sales strategies do to the average investor, to say little
regarding the macroeconomic implications; their main focus
is on them and theirs, comfort and luxury, bragging rights
(--Welcome to my home! Would you like to take the tour?)
--Ugh. Don't selecting the finer wines, food and decor
ever get old?

Trump's Happy Holidays' better behavior may emanate from
advisors' wake up calls, or simply ensuring his election is
not overturned on December 19th, 2016, when the Electoral
College actually delivers its votes: few "faithless electors"
are predicted to cast a change to Clinton. Maybe the Don
suddenly recalled many other nations possess the atomic
and hydrogen bombs, so treading a bit more rationally on
the domestic and international stage, after all the bullying
bluster, seems sane--after all.

Both Roosevelt presidents are spinning in their graves
right about now, for some of the same reasons as well
as different ones. Oligarchy's dark, devious practices
were not approved economic policy by either TR or FDR,
despite the family wealth...

But let's lift  a glass of Cranberry Juice to anyone who
will keep fighting for reasonable, just reforms and
accountability. Lift another one with a toast wishing
Oligarchy a short season as we stumble into 2017.

--Stay alert, y'all!

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