Posted on 05/31/2015 9:26:06 AM PDT by dila813
“Wall Street is back,” says the New York Times, and the economic cost is high. The excessive financialization of the US economy reduces the GDP by 2% every year, according to a new study by International Monetary Fund. That’s a massive drag on the economy–some $320 billion per year. Wall Street has thus become, not just a moral problem with rampant illegality and outlandish compensation of executives and traders: Wall Street is a macro-economic problem of the first order.
(Excerpt) Read more at forbes.com ...
When you count all the free traitor legislation Wall Street has been pushing for years..... I would say those parasites have killed the US economy by about 30%. When you count all the manufacturing jobs sent to China Asia etc
This was the doing of Wall Street, the scum bag politicians in DC that they bribe and so on.
The Uni-Party isn't going to do that. We can talk about Dennis Hastert -- precisely because he is insignificant. But Hillary? Boehner? Reid? These people are untouchable, and so are their friends.
I am going to go with which ever candidate will call for the break up of the too big to fail banks and the pull back of the regulations killing the economy.
Right now, I have Walker and Cruz; but I will aggressively work for a candidate that shows leadership on this issue.
Bump
Who is Steve Denning? Why should I care about someone whining about “outlandish compensation of executives?”
Whenever I hear someone do that, my leftist Bullsqueeze detector pings in the red.
“I am going to go with which ever candidate will call for the break up of the too big to fail banks and the pull back of the regulations killing the economy.”
+1
Are we to believe that profits generated from financial speculation somehow evaporate and do not feed back into the economy?
That’s not the point, did you read the article?
The point of the article is that these institutions aren’t allowed to fail. Excessive regulation and the backing of the government causes inefficiencies.
You don’t have to agree with everything a man says to be able to understand that we are engaging in wall street welfare.
whoa! This very subject was discussed here on good ol FR many yrs ago. We need a freed up economy and new tax system. Fair tax is best IMHO but a combo of flat and fair may be ok.
If the use of the financial instruments in question work to velocity of capital moving through the economy, then they could very well be a significant drag on the overall economy.
what is the cost on the economy of the last 6 years of government regulations and ObamaCare? Wall Str. is peanuts by comparison, me thinks.
For later
Article is about government regulations impact on Wall Street.
Wall Street.
Wall Street ?
Bankers and Brokers that Glass-Steagall had once separated for a reason.
No more.
The Fed needs them to sell their bonds at increasingly lower yields and the bankers will make damn sure they don’t lose money in the process.
"“Big government is back,” says the New York Times, and the economic cost is high. The excessive regulation and taxation on the US economy reduces the GDP by 2% every year, according to a new study by International Monetary Fund. That’s a massive drag on the economy–some $320 billion per year. Big government has thus become, not just a moral problem with rampant illegality and outlandish compensation of career-bureaucrats and political cronies: Excessive government is a macro-economic problem of the first order."
The author of the article is calling for the pull back of complex regulations, Dowd-Frank, and the implementation of simple transparent regulations.
The complex regulations are favoring the too big to fail mega banks.
IMF lead by the government devotes would never say that.
This IMF study is the closest thing to honesty you are going to get out of an organization like this.
Is that to say that the money is so busy being turned into profits — that it doesn’t have time to do anything else?
(Dumb question, I know. But I’m not exactly the sharpest crayon in the tool shed.)
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