Finance is highly regulated and arbitrarily so. If you think the lawmakers and regulators will throw their hands up and say geez, it’s technically legal, carry on, you’re sorely mistaken. — “bko”
So some hedge funds are going bankrupt because the “masses” – literally bartenders and baristas are using their phone apps to bet on the stock markets – are squeezing their shorts.
So, when a “free market” causes the rich and powerful to lose money, what happens? The regulators change the rules.
What happened in 2008? New York finance went bankrupt. If anyone actually believed in “free markets” then what would have happened is what the CEO of BB&T explained. His bank was not loaded up with “toxic assets.” If there were no bailouts, then his bank could have stepped in and bought Citigroup for pennies on the dollar.
Wall Street would have closed down and Charlotte, North Carolina would have become the headquarters of American finance.
But as the Wall Street Journal explained way back in 2008, the New York banks were headed by people whose charitable giving went to “Jewish non-profits” while Charlotte, North Carolina bankers tended to give to “Republican and conservative causes.” (i.e., Ken Lewis is a “gentile.”)
So what happened? The New York banks got bailed out, the North Carolina banks did not.
Was there anything “Free Market” about any of this? Of course not.
Capitalism does not work. It is a pie-in-the-sky utopian vision that has never worked. There isn’t a single example of “capitalism” in the entire history of mankind that has ever worked. Socialism has a far better track record.
So, no one actually believe in a “Free Market.” The purpose of “Free Market” rhetoric is to convince the working class to work harder to produce more for New York capitalists.
Who are the worst people to engage in this? “Reagan” conservatives like RamZPaul.
RamZPaul is outraged that Biden’s administration has proposed a $15 an hour minimum wage (they actually have not, but when do facts matter to right-wing conservatives?)
RamZPaul is outraged because he thinks that raising the minimum wage will cause inflation. But at the exact same time, RamZPaul praises Donald Trump for keeping the stock market high. How did they do that? By printing massive amounts of money and putting it in the stock market.
The stock market is high because that is the inflation from money printing.
But that doesn’t outrage conservative right-wingers. No – what outrages conservative right-wingers is the idea of some waitress getting paid $15 an hour and getting health insurance, because that is “socialism.”
RamZPaul will probably not make any videos complaining about the new regulations being passed to prevent Redditors from squeezing hedge funds naked shorts. RamZPaul has never complained about naked shorting, which is just outright fraud – quasi-legal fraud.
Why? Because RamZPaul is a conservative, thus he worships rich people and hates poor people. RamZPaul himself isn’t rich, according to him he owns some rental properties in Bumfuck, Oklahoma – according to the new Trump Conservative Supreme Court, Oklahoma is Native land anyway, so RamZPaul is literally squatting on stolen land according to his own conservative judges.
But no matter. RamZPaul, as a conservative, exists to suck up to the rich and hate on the poor.
The only difference between RamZPaul and most conservatives is RamZPaul likes to impotently whine about Jewish double standards. Which is good.
How successful is RamZPaul as a landlord?
Well – unlike yours truly – he wants you to send him money to tell you why raising the minimum wage is bad and causes inflation, but Wall Street bailouts are still “free market capitalism.”
Right-wingers are a joke, but then again, water is wet, so there it is.