Part I: C’mon, boys! Let’s take our undiagnosed gambling disord…I mean…our migration towards rentier capitalism to the next level.
rentier: a person who lives on income from property or securities
The wealthiest 10% of Americans own a record 89% of all U.S. stocks.
Americans who believe that CEOs are job creators call me a socialist.
Which is awesome.
Awesome, in this smile-and-nod kind of way.
It’s precious when rubes who support socialism-for-the-rich policies bring up the word “Communist” after I suggest that the 1% needs a big tax hike.
“COMMIE????” YOUR MOMMY!!!!
Then there are the folks who don’t own much stock but love to gawk at Wall Street’s endlessly-multiplying piles of gold coins. If you have ever been laid off from a publicly-traded company, check out this Reddit:
Why do layoffs increase stock price?
Yup. Along with the customers, employees need to hear a “fuck you” as well.
Sorry, minions. The investor is always right.
When it comes to the corporate media’s fixation on the stock market, remember: 10% of Americans own 89% of all US stocks.
Not to dampen the country’s red-white-and-blue toxic positivity, but the racial wealth gap remains unchanged as the Dow climbs higher and higher.
The United States is transforming The Customer Is Always Right economic principles of the 20th century into this new The Investor Is Always Right mutation. From the looks of it, the goal is to ensure that it will be even less inclusive than the old system.
The investor is always right. And the overwhelming majority of investors are white.
Approaching all of this from another angle, look at the last two years. There is something so TIIAR about the USA’s response to the pandemic.
The high-net-worth crowd did well for themselves last year. This WSJ article: “The Americans who gained the most during 2020 were the ones who had much more wealth to begin with. Houses, stocks and retirement accounts—which wealthier people are more likely to own—soared in value, and those boosts are likely to endure.”
Food producers slaughtered livestock and let crops rot in the fields. And the stock market was giddy.
The Ayn Rand Institute got a PPP handout from the government. Low-rent rich people scoffed at the near-zero interest rates for loans and demanded free stuff instead—and got it. But remember: socialism is bad.
Back in December 2020, Donald Trump’s favorite tactic was to bring up Wall Street whenever the press tried to grill him about coronavirus’ spread. Yes, Covid-19 has killed almost 350,000 Americans…but the stock market’s doin’ great!
Right-wing media pundits who got vaccinated are urging their followers to stay unvaccinated.
Stupid Person #1, pointing to the TV screen: “Tucker Carlson just said that the vaccine is bad, but he dodges questions about being vaccinated. What should we do?”
Stupid Person #2: “Hmmmmm…I guess we stay unvaccinated. The investor IS always right, you know.”
One last thought to close out TIIAR, Part I: all those tears about the increasing inflation…they are some of the dumbest crocodile tears that have been boo-hoo’ed in quite a long time.
This TNR article’s headline, The Real Inflation Problem Is Corporate Profiteering, says a lot. But this:
“…In these calls, business leaders employ fancy financial lingo to tell large shareholders how they are engaging in ‘pricing improvements’ and ‘successful pricing strategies.’ They tell you they are experiencing customer ‘elasticities’ to price increases at historically low levels. When you decode what they’re saying, it’s nothing less than a euphoric articulation that they’re able to pass off price increases to consumers, who, in the words of legendary investor Warren Buffett, are ‘just accepting it.’ The stocks have in turn moved higher and higher.”
In other words, the investor is always right.
And the investor is planning on having an extra-special Holidays. Literally at the expense of the masses.
Read Part II.
Riffing off of other posts:
• Allow me this moment of tinfoil-hattedness.
• The Limited Liability Caucasian
• A hypothetical experiment. Two white guys who overuse the word “successful” are test subjects.
• Bros: America’s new Jews.
• Ayn Rand’s Anal Antics #17
• The Joe Manchins and Kyrsten Sinemas in my life.
• The Donald Trump Tax.
• Open letter to a selfie of my drunk-ass self, taken on August 11th, 2001.
I write fiction and have two dark comedies available, Fearkiller (Volume 1) and Notes from Trillionaire Island: Fearkiller (Volume 2), as well as Revolutionizer Alpha, the first book in a sci-fi series. I also wrote a story about God. It was weird, but then I decided to make the story and its sequel free. And all of the sudden, it didn’t seem as weird. Writing about God is much less weird when you write about God without charging money for it.
Here’s my professional site, my trade.
Follow me on Medium.