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Chet Ruminski Wrote:
lonely bird, What do you think about my assertion that the CFMA and other laws and repealings that deregulate and extend immunity from oversight have contributed to shifting 100s of billions of dollars away from jobs investing into pure gambling. The futures derivatives are simply non productive entities that stagnate money. Support for my assertions comes in the form of increased employment with no wage increases with a DOW over 25000.
Plus the longest running bull market in history.
There is investing and there is "investing." Investing in start-ups, supplying cash to companies with good ideas that need help getting their legs under them is a good idea. It is risky but a good idea. Any other "investing" is simply placing a bet. Somebody buys stock from somebody else because they think it will go up. They are merely betting and not really investing. The main problem lies in how capital controls distribution through financialization. the CEO/management class is incentivized to suppress wages and layoff workers. When demand does rise the incentivization occurs in the form of not hiring enough workers under the idiocy of "do more with less" and "rightsizing". Personally, until and unless capital is brought back by reembedding the economy in social relations we will continue to see much brouhaha over statistics that point out how wonderful things are while ignoring those things the statistics ignore.
I happened to hear a guy call into Them Hartmann yesterday saying that Trump's tax cuts have stimulated the economy and resulted in much lower unemployment numbers. Such is the impact of statistics. Trump's tax cuts did nothing and unemployment numbers were going down anyway. That those numbers are and have been skewed for decades means nothing when the economy is looked at as a "thing" which it is not.