And others might have and so thats the next point is that companies who buy back their own stock and the executives around these Companies Say remember if you have options on your stock and the stock and you know guaranteed theres no risk the stocks go higher the options can go from a dollar to one 100. 00 or 300. 00 so an executive can make 5100200000000. 00 us what we have so many billionaires in america is by playing this game of guaranteed upside by money printing and owning the options on your own stock and so if you strip out those numbers you would have markets that are a lot lower youd have a lot more parity between classes in america you would have the wealth and income gap you wouldnt have the social unrest and you wouldnt have a lot of these other problems so its very stark very plain to see for those who want to say hey were going to show you some charts to show you visibly how big it is. In terms of kind of a lean duck president coming and biden whos you know very very old
Their own stock and the executives around these Companies Say remember if you have options on your stock and the stock and you know guarantee theres no risk the stocks will go higher the options can go from a 1. 00 to 100. 00 or 300. 00 so an executive can make 5100200000000. 00 thats why we have so many billionaires in america is by playing this game of guaranteed upside by money printing and owning the options on your own stock and so if you strip out those numbers you would have markets that are a lot lower youd have a lot more parity between classes in america you would have the wealth and income gap you wouldnt have the social unrest and you wouldnt have a lot of all these other problems so its very stark very plain to see for those who want to say hey were going to show you some charts to show you visibly how big it is but in terms of kind of a lean duck president coming in biden whos you know very very old and doesnt have. The senate and his leader says majority and the Congress
Society in general has actually quantify how much just how much of trillions of dollars has been transferred to the top one percent who own the vast majority of stocks and bonds so how much of the stock markets rise over the last 11 years is due to q e here is an estimate the s. And p. 500. 00 would be trading closer to 1800. 00 without fed bond buying says society in general right now is at 3500. 00 it should be at 1800. 00 if it werent for the fed buying up all the basically the bad assets off the banks Balance Sheets this has a lot of implications ok so without the money printing the markets would be 5060 percent lower thats point number one point number 2 is that asic until in fact that means that myself i own stocks bonds and gold and because that means that the markets exist as a transfer mechanism so the fed cant just print money for me individually they print it so that executives buy back their own stocks of stocks that i own in the night benefit accordingly and as you point o
Bloomberg surveillance. Im Francine Lacqua in london. A lot a focus is on the bank results yesterday. Many more banks reporting today with Technology Stocks and apple news. We expect a lot of earnings, and pound weakening, something to keep an eye on. Stocks,ook at european travel shares declining on concern of more lockdowns, but financial shares are climbing. Theyd are today, our active etf, new surveys say active equity funds underperformed in the first half of the year. Lets get straight to the bloomberg first word news. Good morning. Here in the u. K. , Prime Minister Boris Johnson is facing growing pressure to order a National Circuit breaker lockdown. The Opposition Labour Party is calling for increased nationwide restrictions for up to three weeks, after documents revealed the scientific advisors called for that action three weeks ago. The sprint to find a medical breakthrough to contain coronavirus stumbled this week. Eli lilly is the latest company to pause a trial as a safet
Not good enough, eu leaders are set to say no breakthrough in brexit talks. Boris johnsons thursday deadline for walking away approaches. Bank earnings turned sour, jp morgan and citigroup slide despite posting betterthanexpected trading revenues. Bank of america and Goldman Sachs are among firms reporting today. Clinical complications, eli lilly becomes the latest company to pause its covid19 drug trial. We will bring you our interview with rival Johnson Johnson. One hour until the start of cash equity trading across europe. Thats look at what is going on in terms of futures. We are seeing gains and European Equity Index Futures even after live trade. An you can see ftse futures up 0. 3 , and euro stocks and dax futures little changed. In terms of u. S. Futures, you can see on s p and Dow Jones Futures slight gains, a little more on s p. Nasdaq futures up 0. 3 . Anna, you have earnings out. Anna lets get the closing details, the business talking about the year but remaining cautious o