> A strong pyramid requires a strong base, and that base must be kept strong,
> not leeched into oblivion by hedge funds. If you struggle to see this, look
> at the obvious:
>
> The system of hedge fund leeching of the world, sucking the marrow of all
> nations and gutting the bulk of the pyramid (i.e. all but the top 1%), leaves
> you with a decimated world (Western world, in terms of e.g. manufacturing,
> jobs, middle class etc) which "owes" you half a quintillion dollars
> (literally - that's 500 -trillion- dollars), but since that world is
> decimated, there's a) no chance in hell that debt is EVER gonna be paid, and
> b) no motivation within the decimated population to even try.
"Let Them Fail" - Billionaire Explains To Gobsmacked CNBC Host How
Capitalism Is Supposed To Work
https://www.zerohedge.com/markets/let-them-fail-facebook-investor-explains-stunned-cnbc-host-why-us-should-bail-out-people
.. In terms of drama, CNBC is usually pretty staid. But every once in a
while, there's a fight, or a contentious interview, that really grabs people's
attention. On Thursday, such a confrontation occurred during "the Halftime
Report" as Scott "The Judge" Wapner interviewed early Facebook investor and
uber-wealthy VC investor Chamath Palihapitiya.
Wapner brought up the question of the bailouts for main street and
corporate America that the Trump Administration has packaged as part of its
$2.2 trillion plan. Palihapitiya raised an issue with the program, arguing that
the administration would be using taxpayer money to prop up "zombie companies."
Then Wapner asked: "Are you arguing to let airlines fail?
Palihapitiya, who was speaking on the phone, responded with a very
assertive "Yes."
Wapner seemed blown away by this. Struggling to process the answer he had
just been given, he followed-up, incredulously: "But how does that make sense
in the broader scheme of the economy."
Then Palihapitiya went off.
"This is a lie that's been propagated by Wall Street. When a company
fails, it does not fire its employees...it goes through a packaged
bankruptcy...if anything, what happens is the employees end up owning more of
the company. The people who get wiped out are the people who own the unsecured
debt and the equity...but the employees don't get wiped out and the pensions
don't get wiped out."
[...]
"And if a bunch of hedge funds get wiped out - what's the big deal?
Let them fail. So they don't get the summer in the Hamptons - who cares."
Out in the real world, people say mean things about the rich all the
time. But it doesn't happen quite as often on CNBC. In fact, sometimes CNBC's
hosts seem downright confused when people don't seem to care about asset prices
above all else - like that time Rick Santelli said we should all just go get
infected and let grandma die to save the stock market. What's more, Wapner
seemed almost personally insulted by Palihapitiya's response.
..
[Ah just -love- the sweet smell of rock solid smug certainty from a wealthy and
principled Palihapitiya in da mornin' :D]
[He be wipin' dey smiles off dey smug CNBC NPCs in da morning' :D :D]
[Ohhhh, yeahhhh - you know you love it :D]
[Very, very smug pic of Chamath Palihapitiya, billionaire, not attached.]
But but but ... muh hedge funds ???
Qants gone wild ... wif da rage! Hah hah!
Just rememba, muh one percentas, keep dey eye on dey ball - ball name Chi-na.
As in "Chi" followed by "na" - kapish?
Did I mention China?
Japan To Spend Billions Relocating Production Out Of China
https://www.zerohedge.com/economics/japan-spend-billions-relocating-production-out-china
