2x Long VIX Futures ETF News - UVIX

Catch $UVIX in low $4s next Yellen will do what PPT team makes her do pump those markets

The "Plunge Protection Team" (PPT) is a colloquial name given to the Working Group on Financial Markets. Created in 1988 to provide financial and economic lifts to the S&P 500.

Critics fear the Plunge Protection Team doesn't just advise, but actively intervenes to prop up stock prices—colluding with banks to rig the market, in effect.
The Plunge Protection Team, composed of high-ranking government financial officials, reports directly and privately to the president of the United States.

, all that the government can do is bail out the losers, and it’s only going to bail out its own campaign contributors, the donor class, and the politically connected financial sector.

It’s not going to bail out the population as a whole; it’s not going to bail out the pension funds; it’s not going to bail out the indebted economy of homeowners and consumers, who are trying to break even.

They’re looked at as the collateral damage of the financialized economy.

If you hammer the working class with the American dream, this is what makes you a successful worker. You must have a car and a home. You must send your kid to college. You must have a vacation for several weeks.

If you’re demanding of the self-esteem of people wrapped up, but you’re not giving them the rising wage to afford it, what are you going to do? You’re going to throw them into debt, because that’s the only way they can have the American dream, by borrowing and going into the debt disaster.

And here’s the double irony. Where are the lenders coming from? The lenders are the employers, because their profits have been rising since productivity rises and wages don’t. So they have the growing productivity to lend to the workers, because for them it’s a no-brainer. Would I rather give my worker a rising wage or a flat wage and a loan, which he has to pay back? Well, that’s easy. We know what we’re going to do. So that’s what we have.

And over the last 40 years, we have plunged the American people into a level of debt that nobody else has ever seen. Mortgage debt, student debt, credit card debt, I mean auto debt. You add it all up and we’re talking more and more families have a bigger debt than they have an annual income. I mean, this is impossible.

Meanwhile, the wealth at the top is a wealth not only of getting the surplus out of the worker in production, but getting the interest payment when you’ve lent them the money instead of paying them a wage. I mean, this is a system guaranteed to produce grotesque inequality.
middle class, they’re wage earners—and the major exploitation of them is no longer primarily just by having industrial employers keep the profits on what the wage earners create, because after all, we’re de-industrializing.

The major exploitation that is occurring is largely in debt service. The wealthiest 1%, maybe you could say 10%, of the population hold the 90% majority in debt, and the income that’s paid to the top 10% is sucked out of the 90% in the form of debt service.

And even more important, what do these 10% do with the money? They don’t spend all of this economic rent, interest, and financial gains on goods and services. They buy stocks, and bonds, and real estate, or they lend yet more money to families to buy real estate, or to corporate raters to take over companies.

And so, what you have is the economic elite not making their money by employing labor to make profits and get wealthy out of saving the profits, but by financial engineering, by capital gains.

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