Define Irony: Wall Street Hates Communism But Prays For China To Bail Out Markets

Define Irony: Wall Street Hates Communism But Prays For China To Bail Out Markets

"But the global economy is far from solid ground", the IMF said, in a cautionary bulletin on Wednesday, documenting the same "out of the trade frying pan and into the pandemic fire" dynamic I've been bemoaning for weeks. "While some uncertainties have receded, new ones have emerged", Managing Director Kristalina Georgieva lamented. "The truth is that uncertainty is becoming the new normal". Go figure. Blame what you will, but one explanation for persistent uneasiness across the global economy
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10 thoughts on “Define Irony: Wall Street Hates Communism But Prays For China To Bail Out Markets

  1. Ben Hunt over at Epsilon Theory wrote that the Chinese propaganda machine is using a “best fit” model involving a quadratic, rather than exponential formula for releasing Coronavirus cases and deaths each daily. WSJ and other international news outlets are being expelled from China. Using a true behavioral model (exponential), cases are likely closing in the 1M mark now. Proof of this will come from countries without the same level of state control that lack the facilities to contain an outbreak but which tend to be more honest in their media releases.

    1. Exactly.
      H, you say “See, when it comes to capital markets in the west, state intervention is fine as long as it’s carried out somewhere else, ”
      I don’t think that’s true. Right here Wall Street & Trump expect state intervention in the form of more stimulus from the Fed, bailouts of Wall Street when the going gets tough, and welfare for farmers (patriots!) when the tariffs bite.
      The hypocrisy is painful to watch

  2. cognitive dissonance, its a pandemic levels. the chief law enforcement office sets free corrupt politicians and oligarchs, because the sentences werent “fair”. gop in florida says that agri-business doesnt have to check if employees are legal, while at same time decrying illegal immigration. rates are at all time lows! (glance at credit card statement) but cr card says 16%. stock price is a reflection of its value, and tesla is pushing $1000/share. its gonna hurt when we remove our virtual reality goggles.

  3. Authoritarian Communism/Socialism and Democratic Communism/Socialism are very different animals and one scares the ever loving crap out of wallstreet. Authoritarianism is the corporate way and no matter how the plebes get a share it hardly matters so long as almost everything goes to the top, IE Wallstreet. They just can’t very well stand up and say how much they hate democracy, yet.

  4. In fact super-capitalist wall street ran like little squealing pigs to government to bail them out in 2007. Has anyone spent any time in jail for those shenanigans?

    1. It’s amazing to me that people don’t make the direct connection between the lack of consequences for the actions that led to the mortgage meltdown and the current populist revolts on the right and left. Even if they cannot articulate it properly, this has contributed greatly to the sense of societal injustice and strong desire to give the establishment the middle finger.

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