Of it so those are the guys getting bailed out by the fed in the meantime u. S. Housing j. P. Morgan chase to raise mortgage borrowing standards as Economic Outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and we acquire to make a down payment equal to 20 percent of the homes value but this is an interesting concept one of fairness as it relates to the economy and its not really a big day and to be american system is not designed to be fair because fair is what is fair for one person is unfair to another person and thats a highly subjective term what america relies on is free market capitalism it relies on competition and if you are successful competing then. And you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully then you get thrown out of the game basically but thats the way it is in the United States and. Having said that when
Fairness that weve seen. Since the intervention is fed days so say in 1907 when the plunge Protection Team and Alan Greenspan came to the rescue of the the bad bets made on wall street chicago. And ever since and weve had more and more and more unfair system it starts off a little bit unfair and as we see like a little change of direction way back then in history becomes a huge gap we see that with the wealth and income gaps and we see that with every single crash and the subsequent bailouts gets worse and worse towards the very wealthy and the connected so when weve already covered the trillions going to the banks instantly and the fact that the ordinary person is struggling to read well you know waiting desperately for the stimulus checks to arrive to them the measly little ones you know when the fed is buying these collateralized Loan Obligations you have to realize that 81 percent of them are owned just by j. P. Morgan Wells Fargo Bank of america and citibank just those 4 banks own
Fairness that weve seen. Since the intervention is fed days so say in 1907 when the plunge Protection Team and Alan Greenspan came to the rescue of the bad bets made on wall street chicago. And ever since and weve had more and more and more unfair system it starts off a little bit unfair and as we see like a little change of direction way back then in history becomes a huge gap we see that with the wealth and income gaps and we see that with every single crash and the subsequent bailouts gets worse and worse towards the very wealthy and the connected so when weve already covered the trillions going to the banks instantly and the fact that the ordinary person is struggling to read well you know waiting desperately for the stimulus checks to arrive to them the measly little ones you know when the fed is buying these collateralized Loan Obligations you have to realize that 81 percent of them are owned just by j. P. Morgan Wells Fargo Bank of america and citibank just those 4 banks own 81
max kaiser here with cassar part hey you know before george zorro s became vilified as a globalist and market manipulator and election writer he wrote a lot of interesting books and of course. jim rogers of the quantum fund which was one of the best performing hedge funds ever kind of invented the modern hedge fund and he s got a lot of things to say if you look at his old work and we re going to get into a stacy herbert we re going to talk about reflexivity because i think it s quite important in this day and age and in fact just so you know george soros versus warren buffett 2 different source of investors one speculator one is value investor and they ve both and this is a downtown josh brown compare them in 2013 there annualized returns are 20 percent per year for the past few decades and both born in 1930 said they have similar returns in 2 different ways them investing but george soros did write long ago about reflexivity and it s quite important to looking at the market
We are joined by warren. Warren good to be here. David now we get first word from nejra cehic. Trump signaled he would be willing to moderate his stance. Donald trump in terms of immigration and almost anything else, theyre almost has to be some time and pull and deal. Deal, hetched ted stood a day and a half or something. What came of it . Nothing. You have to have some flexibility. Nejra all of them said they would support trump if he wins the nomination. There is a familiar threat from north korea. Kim jongun has ordered forces to be ready to launch Nuclear War Heads at any moment. T came after the country more to the country to prepare of sanctions from the united nations. And the pace of chinas military spending growth was increase between 7 and 8 this year, but the smallest since 2010. The estimate was released before tomorrows National China peoples congress. Global news 24 hours a day, powered by 2400 journalists in more than 150 news bureaus around the world, i am nejra cehic.