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
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
We will talk about the rain chants chances through the end of the week. I looked at the latest weather model and its now trending dryer. Take a look at daytime highs as we are looking at high temperatures much cooler compared to yesterday with that sea breeze. 81 concord. 75 san jose. 68 in oakland and 62 for San Francisco. There we go with that spare the area alert mainly for the north bay for today. Due to the glass fire looking at good air quality. We will take you hour by hour through the day as well as to the end of the week with the two weather systems im tracking up. Lets check in with gianna who is tracking a crash on the east shore. It was just reported by chp. Westbound 80. As you work around berkeley into emoryville we have a crash blocking lanes. A lot of red now popping up. Slow speeds, traffic starting to slow down as you work through there. Its causing a less back up at the toll plaza. They havent turned the lights. A lot of that traffic on that commute along the east sh
Good morning to everyone. The committee on Health Education labor and pensions will please come to order. First, a few administrative matters. Weve gotten advice from the sergeant at arms health and human services, centers for disease control, individuals in the hearing room will be at least six feet apart. Theres no room for the public, therefore, but this is all streaming and there will be an unedited version of it that anyone can watch later. Our witnesses are participating by videoconference today and some senators are as well. Id like to Say Something about masks. Since were six feet apart we dont need to wear masks, although some may. Thats why my mask is off, although i have one and i wear it outside because as we were reminded yesterday its extremely important tool for stopping the spread of covid. Im grateful to the rules committee, sergeant of arms, the press gallery, the architect of the capitol, the Capitol Police and our staff, people, all their hard work in helping to kee
Appear remotely via webex. Since some members are appearing in person let me first remind eastern that pursuant to the latest guidance from the house attending physician, all individuals who are attending this hearing in person must wear a Face Covering. Members who are not wearing a Face Covering are not permit today remain in the hearing room and will not be recognized to speak. Let me ask make a few reminders of the hearings. For those members appearing in person you will be able to see members appearing remotely on the two monitors in front of you. On one monitor, you would see all members appearing remotely at once in what is known in w webex as mode. And on the other monitor seeing the person when theyre speaking, including members who are appearing remotely. For those members appearing remotely, you can also see each person speaking during the hearing as well as in person or remote if you have your webex set to active speaker mode. If you have any questions about this, please co