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hardnox
Advisor

Ban the PPT

A  modest proposal.

 

The neoliberal period began when Greenspan bailed out the CME during the 1987 crash. "The market" having been deemed a matter of national security, the President's Working Group on Financial Markets (better known as Plunge Protection Team) was formed to intervene should markets get in trouble.

 

The grave moral hazard begins at that point- we would look at the world quite differently had Reagan's term ended with the Dow back at 1000 and a steep recession.

 

That's how we became slaves to "the market".

 

I think we should seek our Freedom and Brexit on that.

2 Replies
BA Deere
Honored Advisor

Re: Ban the PPT

Do you really want your boy Obama flying solo without a plunge protection team?   Hello President Trump, because the curtain would be opened and the Wizard is just a little guy pulling levers.   If Obama wasn`t gifted a zero percent interest rates and he by the time leaves office will have spent more than EVERY president since George Washington...combined.  And still he needs a plunge protection team.

bruce MN
Advisor

HBeen looking for and found Trumps immediate response