Goldman Sachs & The Great American Bubble Machine

[SportscarBruce]

Suggested reading;

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine

Video:

http://www.rollingstone.com/videos/player/28915625

[airshifter]

I've seen so many greaty biased views in Rolling Stone, along with so many conspiracy theories, that I have no faith in anything they say. Which is a shame, as here and there they do seem to have some good writers.

We've got Rolling Stone for free for several years, as part of a scam they do trying to trick people into subscriptions. Their business ethic is is about as much based on morals as their articles are.

[Alexamateo]

I'm not much on conspiracy theories, and the fact that a financial company rode the booms and leveraged itself itself against the busts is no big surprise.

For me, the most interesting part of the article was at the end:



And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits — a booming trillion- dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade. The new carbon-credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance.


That's no conspiracy though, I see it coming as clear as day. What amazes me though is that so many politicians have been taken in by this.