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Speculation is Evil
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When? This feed was archived on October 16, 2023 21:31 (). Last successful fetch was on October 16, 2023 21:59 ()
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Manage episode 327409207 series 2824442
Excerpt from Wall Street: Money Never Sleeps
You're all pretty much fucked.
They got all these fancy names for trillions of dollars of credit: CMO, CDOs,
SIVs, ABS…
So Mr. Banker starts leveraging his interest 50 to 1, with your money because he could.
40% of all American corporate profits came from financial services, not production, not anything remotely to do with the needs of the American public.
The mother of all evil is speculation, leveraged debt, borrowing to the hilt, it’s a bankrupt business model, won’t work.
It’s systemic, malignant and is global like cancer.
It's a disease and we got to fight back.
How are we going to do that?
How are we gonna leverage that disease back in our favor?
#PolEconProject
#Labor
#Capital
#Oligarchy
#1U
#UnionStrong
#LaborRadioPod
265 afleveringen
Gearchiveerde serie ("Inactieve feed" status)
When? This feed was archived on October 16, 2023 21:31 (). Last successful fetch was on October 16, 2023 21:59 ()
Why? Inactieve feed status. Onze servers konden geen geldige podcast feed ononderbroken ophalen.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 327409207 series 2824442
Excerpt from Wall Street: Money Never Sleeps
You're all pretty much fucked.
They got all these fancy names for trillions of dollars of credit: CMO, CDOs,
SIVs, ABS…
So Mr. Banker starts leveraging his interest 50 to 1, with your money because he could.
40% of all American corporate profits came from financial services, not production, not anything remotely to do with the needs of the American public.
The mother of all evil is speculation, leveraged debt, borrowing to the hilt, it’s a bankrupt business model, won’t work.
It’s systemic, malignant and is global like cancer.
It's a disease and we got to fight back.
How are we going to do that?
How are we gonna leverage that disease back in our favor?
#PolEconProject
#Labor
#Capital
#Oligarchy
#1U
#UnionStrong
#LaborRadioPod
265 afleveringen
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