. June 30, 2009 SouthAmerica: Here is a very interesting article about the American Mafia and how they have a major influence in the US economy. The American Mafia has become very sophisticated regarding the US economy and the US financial markets and the enclosed article explain the massive negative long-term impact that the influence of these wiseguys are having in the US economy. âTHE GREAT AMERICAN BUBBLE MACHINEâ http://www.correntewire.com/great_american_bubble_machine_0 Itâs worth reading the entire article. PS: This article was published on the latest issue of Rolling Stone magazine dated July 9 - 23, 2009. .
Thanks, I was at the library today looking for that very article and they didn't have it.. it's been mentioned here on ET already btw...
Wow, what a read. That is what got me into trading really, it's an attempt to keep up, sort of like running up the down elevator but nonetheless, you have to admit that WIN stands for Work Is Nonprofit...
Hint: The global mafia kingpins don't originate from Sicily. They don't take a cut off your herring catch. They take a cut out of your GDP.
good article, however blaming the oil prices soley on GS is not right. there has been an increase in consumption by BRIC nations, the global economy was overheated until the US Financial Mess brought everything to very slow pace. While houses like GS do have the ability to sniff the next bubble and charge it up and exit at the top, they cannot be soley pointed out for creating, charging and busting the bubbles/trends etc.
Oil production has been increasing along with the BRIC economies. The author of the article is spot on. A few months back GS was about to go under and the implosion of BS and LEH resulted in the massive de-leveraging causing unwinding of commodity trades. When the parasitic activity of these large banks was removed from the markets, there was little speculative bull shit and the price of oil was pricing accurately to reflect market demand in the low $40's. However the real issue is not the gaming of the system by a bank. It's the flawed system of governance where elected leaders spend more time raising money to run for re-election than in good governance. A $1000 campaign donation to the right individual will get you a no-bid contract to sell your sub-par products to the govt. Once the BRICs figure out how to get out of the USD global currency reserve system, our system of capitalistic democracy will implode.