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Speculators trade in two weeks what the world makes in a year
Speculation rests on phenomenal amounts of money sloshing around the globe. We could call this endless wave a permanent tsunami, except that would grossly understate the size of the financial wave. If...
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Wall Street plunders Detroit while pensioners take blame
The Detroit bankruptcy has been portrayed as a simple morality tale of city mismanagement, but the crucial role of financial industry chicanery has been conveniently ignored. Municipal debt is a...
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High court rules that financiers are more sovereign than Argentina
The victory handed to speculators by the United States Supreme Court over one of the world’s larger countries provides a lesson in where power actually lies. It is not in a government building. Two...
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Financiers seek to have fondest dreams come true through own secret trade deal
The financial industry has grown ever more powerful in recent decades, so perhaps the world’s governments believe it is only fitting that it has its own secret treaty. Similar to “free trade”...
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Sure billionaires deserve their money: Killing jobs is hard work
More is never enough. A few examples of the wrath of speculators illustrate the “whip” of finance capital as the world’s corporations announced their results in recent weeks. Among the words that do...
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Speculation for its own sake pays billions
The absurdity of the tsunami of money crammed into speculators’ bank accounts is illustrated in the fact that the 25 highest-paid hedge-fund managers vacuumed up a collective $11.6 billion in 2014 —...
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Class warfare through stock markets
Income re-distribution is always in the eye of the beholder, but never seen as such by those for whom more is never enough. The insatiable greed of financiers has reached the point where large...
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Speculators circling Puerto Rico latest mode of colonialism
Puerto Rico’s governor may have said the commonwealth’s debt is unpayable, but that doesn’t mean Puerto Ricans aren’t going to pay for it. Vulture capitalists are circling the island, ready to extract...
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Work harder so speculators can get more
Class warfare is poised to reach a new milestone as this year’s combined total of dividends and stock buybacks by 500 of the world’s largest corporations will exceed US$1 trillion. So large is that...
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