Matt Taibbi: As the country again prepares to go to war with itself, this time over a high-profile trial, a bigger story goes unnoticed
On the day the Rittenhouse trial began, the financial data firm FactSet released an eyebrow-raising report about the Covid-19 economy.
The firm noted that companies in the S&P 500 were set to post a net 12.9% profit in the third quarter of 2021. They pointed out this was the second-highest result since the firm began tracking the number in 2008.
The only better result? The previous quarter, i.e. Q2 2021, when net profits sat at 13.1% overall. These results track with the true great story of the pandemic era, which not-so-mysteriously hasn’t made the news much, while Americans have been tearing each other’s faces off over issues like race and vaccination policy: the massive widening of our already-obscene wealth gap.
… and the Stock Market has soared … enriching the elites unlike any two-year period of time in the HISTORY of the Stock Market
The “Quantitive Easing” and Covid bailouts had to go somewhere. Stock market and housing.
“Obscene wealth gap” um, nope. Getting tired of people blaming companies for a situation that the governments have created. Get rid of corporate welfare, let companies stand or fall on their own, and there would be a much smaller gap. But then, the people who prop up the politicians generally are the ones who are profiting most from the government meddling in the free market, so nothing changes until the politicians change things, and that my friends will never happen.
QUite so, Dwayne.
The best possible distribution is the Pareto distribution, which occurs when the free market as allowed to operate unhindered. The more they try to “fix” it, the worse it gets.
In the real world those at the economic bottom in the U.S. have it light years better than in any previous era. Utopia only exists in Matt World
I suspect the bigger picture point of this post is that these day-to-day right/left distractions are used for our fascistic elites advantage in their pursuit of looting and dominating our highly compromised system.