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by tunap
3974 days ago
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Consolidation of oligops, helped too, corporate welfare has always been the norm & the revolving door b/t industry & regulators is a new-ish trick they seem to have mastered to a T. The Commodities Modernization Act of 1999+Financial Services Commodities Act of 1999 were not the bills that killed Glass-Steagall, but they were the final stake in the heart of the GD I protections that have been eroded over the last 30 years, or so. Frontline had a great doc'y on it years ago documenting the billions of lobbyist dollars that went into the piecemeal dismantling the G-S Act, but I cannot locate it currently(my n900 is almost just a phone these days...which is nice).
Now that we are entrenched in the GD II, aka the 'Great Recovery', we can use some of our idle time to look back at commodities and securities price graphs over the last 20-30 years. It may be a coincidence that prices tripled, quadrupled & quintupled since 2000, but I doubt it. It took them 7 years to ruin the world economy and it would have come quicker if 9/11 hadn't made them pause to shed some crocodile tears. PS: hey Walter, to answer your questions from last month I can no longer post to:
Yes
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Mostly abstinence. More I rely on an org, the more I am beholden to them. Stick mostly to bare essentials. |
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