Massive bonuses being paid at the top of the financial sector and massive donations are being made to the Conservatives by the financial sector. The global markets are rigged, with credit/low interest rates ensuring that the redistribution of wealth flows steadily upward and offshore. Max Keiser, Stacy Herbert and Michael Hudson explain:
Keiser Report: Whimsical Price Tyranny (E446)
Published on May 18, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert examine stories about those who, using spoof trades, bogus securities and fictitious capital, steal real wealth and income. They discuss how it is that every benchmark index is rigged and introduce the concept of the ‘bonus benchmark.’ In the second half, Max talks to Dr. Michael Hudson, author of The Bubble and Beyond, about debt and wage deflation and about the intersection of interest rates and wages going back to David Ricardo when wages were measured against the price of bread to today when they are measured against the price of debt.
Why do the 1% need lobbyists? Because, in the absence of regulation, the impetus for capitalism is rampant exploitation to exhaustion, in the relentless accumulation of wealth. Like over-parasitism, the 1% are killing the hosts that feed them.