November 22, 2016

Wall Street’s Vampire Squids Pucker Up for Trump

Wall Street is not without reservations about the president elect. The Street long ago washed its hands of Trump after he singed banks repeatedly by building, dismantling, and then rebuilding his private empire. The only major financial firm still doing corporate business with Trump is Deutsche Bank, and that is despite the fact that Trump sued the bank, in 2008, after he refused to repay the money that he borrowed to build the Trump International Hotel and Tower in Chicago. (Trump claimed a force majeure as a result of what he argued was Deutsche Bank’s role in causing the financial crisis. The parties have since settled their legal dispute.)

Steve Bannon, Trump’s newly appointed White House senior advisor, used to work at Goldman, too, as did hedge-fund manager Anthony Scaramucci, who is also a member of Trump’s transition team. That’s an awful lot of Goldman people on the small Trump team, especially considering Goldman has made a particular point of not doing any business with the guy.

Wall Street’s Vampire Squids Pucker Up for Trump

6 comments:

  1. Anonymous10:04 AM

    I wonder how all the little tumpettes are feeling now? They obviously didn't listen to George Carlon. As expected Trump isn't going to drain the swamp, he's dived in and frolicking with the crocodiles.

    Poor fellow America.

    Poor fellow Planet Earth.

    Them trumpettes and democrates best bury the hatchet, join forces and withdraw consent - otherwise they are fucked.

    But sadly it is too late, they are fucked anyway - the serfs never win.

    Hayek’s The Road to Serfdom described how personal freedoms are progressively eroded by the state in the name of the common good.

    "In conclusion, Trumpenomics as proposed (though it is obviously not yet in its final form) will lead to accelerating price inflation, accompanied not by better conditions for the “basket of deplorables” as Hillary Clinton described Trump’s supporters, but their further impoverishment through the realisation of the wealth-transfer mechanism of price inflation. Stagflationary conditions are already on the cards, but as a matter of simple economics it is being accelerated further by Trump’s intended plans. The black swan event, the unforeseen consequence, is likely to bring forward the political and economic disintegration of Europe and the euro area, through a falling currency and collapsing bond prices. Welcome to The Donald’s world. The serfs never win, as Hayek recognised."

    The next four years could well be the wildest of rides - interesting times indeed.


    j



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  2. Anonymous10:07 AM

    Sorry link didn't work - try this

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  3. Anonymous10:08 AM

    Fuck HTML not working - cut and paste then:

    https://wealth.goldmoney.com/research/goldmoney-insights/the-serfs-have-rebelled-europe-next

    j

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  4. But we knew this, based on everything he said during the 18 month long campaign.

    Then tens of millions of people from around the world get ridiculed for being upset about his win.

    It's possible that he will do something good for the US economy, but I think it's improbable.

    I think it's worth being upset about, or really, really, disheartened!

    Maybe the only question is whether his supporters will keep the faith for four years, truly believing his actions will change their lives for the better, or whether they will see the evidence and become angry.

    In general, people justify the decision they've made, even when it was wrong. So, odds are pretty high that Trump will remain in favour simply because he won, not for anything he does as POTUS, and all gaffs, security leaks, nepotism, favoritism,temper tantrums, disastrous international relationships, etc, will be indulged by the Trump believers.

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  5. Anonymous2:43 PM

    The US is bankrupt, as are many other nations - it's all a matter of simple arithmetic and compound interest.

    But when it come to bankruptcies Trump has advantages: experience, yep he's the master of bankruptcy, so he may be the best man for the job.

    It will be very interesting indeed to see how the greedy bastards manage the "reset" - a controlled demolition, a manipulated exogenous event like war or something new that manifests from the creative deviousness of the greedy bastards who now own Trump.

    And for all those trumpettes who live in hope that he will drain the swamp I have just three letters: JFK.

    So the Trumpettes will have to cope with their disappointment however they can, just like Hillary's supporters.

    In the mean time Trump will have to get in good with the media so he and and the vampire squids can convince the plebs that Obama's "recovery" continues - but best not show the plebs the reality of same:

    Obama's recovery

    Best we invest in play dough, lego and colouring in books - they may well be in big demand as time goes by.


    j

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  6. We should all pray to deity of choice for no exogenous events during Trump's reign.

    How will this fickle, vengeful and egoistic man deal with the unexpected?

    Badly, very badly.

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