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It is almost like there is a conspiracy

glennlab 10 Sep 30
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6 comments

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1

"Ain't it the truth."

KateOahu Level 8 Oct 1, 2021
1

Well duh, of course there is, but the corporate media will never mention it or allow it to be brought up.

1

that's a short, concise, accurate description of the way the US financial system works.

1

No kidding the rich feed off the poor, have been for hundreds of years

bobwjr Level 10 Sep 30, 2021
2

I've wondered about this. Ever since Mitt Romney's solution to the 2008 Recession was to do nothing and allow those with money to buy up the properties average Americans were losing because of the crash.

RussRAB Level 8 Sep 30, 2021

Mitt Romney? Mitt was a failed Presidential candidate in 2008. He wasn't a governor. He wasn't a senator. He had no political power. What in the world does Mitt Romney have to do with anything?

@BD66 - You might want to check your facts. Take a look at Massachusetts from 2003 to 2007 and Utah from 2019 to present. Romney is also amoung the 1%'ers which makes his comment applicable as one of the "people with tons of capital benefit."

@RussRAB Romney was done as governor in 2008, and he wasn't elected to be Senator from Utah for another 10 years. What "Solution" are you talking about? He had no authority to implement any "solution"

@BD66 9 - It was a proposed solution, one he suggested for dealing with the recession. The comment indicates his thinking which is in line with Ed Burmila's statement.

@RussRAB If you are talking about the auto industry bailout of 2008, Romney was against using US Taxpayer money to bail out the stockholders of GM, Ford, and Chrysler. The stockholders in those companies should have lost their investments, the bondholders should have been repaid a portion of their principal, and the companies should have been restructured. That's the way corporate bankruptcies work. Instead, the US taxpayer was forced to come in and prop up those companies for the benefit of auto company stockholders.

2

Steal from 401Ks too!

Reminds me of a report about trump after the 2016 election. He decided he wanted money from his campaign (or was it from his inauguration celebration fund) and decided he wanted to pocket it. Chris Christy informed trump it was illegal to access that money for his personal gain, so trump fired Christy and ... well, the rest is history being revealed today. Wherever they see money, they want it whether they should be allowed to access it or not.

Could you explain how money was stolen from 401Ks?

@BD66 run economy into recession, stock market drops precipitously, 401K value drops, rich scoop up lower value stocks. It was designed to be this way.

@Killtheskyfairy That's more the brave and the rational profiting at the expense of the cowardly and the irrational.

@BD66 - Except, it doesn't matter how brave and rational one is, if they have no money, they can't scoop up much of anything.

@RussRAB About 80% of Americans over age 30 have retirement savings. Having the savings and having the fortitude to manage it properly through market crashes like 2008/2009 and March 2020 are different matters altogether.

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