These boys, competitive by nature, ivory formed are running the rich. Most rich rely on them to stay rich and get richer. In especially the US pretty much all of those not poor from lower midclass on put their savings for retirement in their hands, too.
These companies rule the stock market with their money:
I wonder how many of those 3.73 Million millionaires in the U.S. and Canada borrowed how much based on their stock portfolio or even worse crypt walled, if this is actually possible.
Based on classic and traditional credit banking a credit has to parts. An amount and an interest rate. The actual amount borrowed is both combined, and that miss most, plus an inflation effected time frame over which it must be payed back.
Most bankers that made their diploma on the equivalent of a best selling investment guru guide book consider the real estate credit business easy. The house has a fixed value depending on the rent ensuring a safe revenue stream and if the lender has a year of wage checks with a fine credit card nothing can go wrong, especially that most fortunes are made in real estate where the tenant does the credit pay back, right? Until the Sub-Prime crisis when many found out that houses need maintenance, house prices are volatile, real estate needs a tenant to create revenue and bankers sometimes have no idea what they have been buying, too.
Naives like the average carpenter might have thought that the big guys learned their lesion, yet the Wall Street Journal stated that "the rich" would base their spendings on credit rather than cash flow reminding me on a conversation some time ago at a boys night out with the big shots in the company when the shooting star told me about his BitCoin profits, but in "I am xxx percent up" and than looked at me as if I was the fool when I told him that he needs to sell to call the investment profit. The hint to ask his banker to get a loan on the BitCoins was received as a brilliant thought so. About a week later rumours were out that he managed to stretch the budget on his project on major importance level for the entire enterprise by about 25 times of his wage, yet kept the job. Networking is great, but so much not my thing, tragically. I am and stay an expert Social Engineer Bitch until there is more than an iWatch to score.
Tip: You wanna make sure that not only the credit for your good thoughts, but especially your social nuclear attacks are harvested by others. Have others leave when it is best, and stay just shortly after the peak yourself never short of savings.
The overall free world economy is currently in a comparable situation as my last employer. For many years this system has been exploiting others. We buy from China, because they earn way less and so little that even an unemployed factory worker can afford what he is not taking part in producing anymore. We sanction others telling it would be harmful to them and for the common good, ignoring that we need their fossil fuels way more than their still hardly interconnected economy anything we still might produce.
Wages are based on human networks and diplomas rather than stress level, stake in success or especially workload. My last job was basically, saving major contracts the company had with their biggest and most important clients, helping them to save millions of investments, by shift working in the highest stress level departement, watching those unfit and with no understanding of neither core business nor any vision of opportunities, but flourishing and receiving promotions into the coffee kitchen collecting bonus mils by "networking", while for us underdogs a "thank you" was all enough, with a department manager actively hindering my progress, because I was doing a good job for him being easy and humble.
Our economy is running on and addicted to cheap credit by low interest rates and an ever rising amount of money around, which is clear and for everyone regularly in the head lines by stock prices reaching new records constantly even during a world epidemic with major supply chain interruptions.
A stock market correction would separate the sick from the healthy companies and the head lines already report a mixed market, which means that even the short term investors start having a look at balance sheets, which means the guys with that squeezy ball in the movies staring at a dozen screens are getting nervous and the balls ain't cutting anymore.
If more understand the current situation like me in my underground blogg only a few read per day, (I am not even able to monetise this stuff here), we might face another Lehman Vs GoldmanSachs stand off.
Those of those 11 above with a propa credit department combined with respect'bl stock market investors Vs credit sharks sharing pizza with speculants all in.
The head lines warn that next year will by turmoil on the trade floor, but I think they'n'I see that different even so it looks the same, but way not as cyberpunk as from my Shadow blogg here in the fency bright corporate office floors.
CUCP...
...hitting ground is the important part falling.
