The system is rigged against the common man

[Bill Bonner’s Diary]( The System Is Rigged Against the Common Man By Bill Bonner Thursday, June 11, 2020 – Week 13 of the Quarantine I tried to stand up and fly straight, but it wasn’t easy with that sumbitch Reagan in the White House. I dunno. They say he’s a decent man, so maybe his advisors are confused. – Quote from a loser in Raising Arizona [Bill Bonner] In the last 90 days, we’ve seen that the top 10% of Americans – who own nearly 90% of all stocks – have gained about $8 trillion in stock market wealth. (Yesterday, we used the figure $21 trillion… but that was a worldwide figure, not just for the U.S.) A little simple math. Ten percent of the American population is about 33 million people. That’s about a quarter of a million dollars each. The government’s Coronavirus Aid, Relief, and Economic Security Act (CARES) package, meanwhile, handed out some $2.2 trillion. Much of this money, too, was earmarked for the top 10% – in business loans that need not be repaid. But just to keep the math easy, let’s assume it all went to the 90% of the population who are not wealthy. That would mean that each person got about $7,400 – or only 1/33rd of what the rich got. Recommended Link [Last year, this event produced gains of 811% and 816% in less than 24 trading hours…]( [image]( Between 10 a.m. ET on Monday, June 15, and 4 p.m. ET on Thursday, June 18, a 100% guaranteed “profit window” is going to open that could make folks more money in 24 trading hours than most investors make all year. Professional traders call it “The most profitable trade of the year.” [Click here to find out why, before this window closes! (If you miss this, you won’t see another opportunity like it for many months.)]( -- Important Objection [As we’ve seen]( the “two-system” system ruins the economy, undermines social stability, and corrupts the government. It is unfair and unproductive. And even if the masses never figure out exactly how they are getting ripped off, they are still likely to nurture some hard feelings. Or worse. But dear readers have raised an important objection. They say that what people in America get is not a result of public policy… it’s what they deserve. Maybe the Federal Reserve is juicing up the stock market… but if people are poor, it’s their own fault. One dear reader, Joe E., led off the discussion with this comment: There is no excuse in America to be uneducated or poor... Others joined in, the gist of their remarks being that hard work, grit, and clean living can still lift people out of poverty… and that most of the poor are poor because of their own bad choices, not because of federal policy. Another reader, HO N., joins in the discussion: Totally agree with Joe E. My parents survived the bombs during World War II. After the Soviet Communists took over their country, they came to the U.S. Their families had lost everything. My dad’s parents disappeared during the war, never to be found. Everything my parents had was in a small suitcase. A few dollars in their pockets and the clothes on their backs. Though they were fluent in a couple of European languages, they had to learn English. By golly, they did. My dad was an industrious, ambitious person, and within five years after arriving here, he started his own business. There was no welfare back then. They wouldn’t have considered it, even if it had existed. [Strange Activity Detected In Secretive Layer Of Stock Market.]( And here’s Edward S.: Joe is right! The system probably is corrupt. But it could be overcome, as Joe so clearly stated. Recommended Link [World’s Top Biotech Investor Releases Urgent Buy Alert]( [image]( - It’s a rare type of biotech stock, some currently trading for just dollars a share. - Nobody knows about it yet. The mainstream media hasn’t covered it. And it’s flying completely under the radar of 99% of investors... for now. - Thanks to the federal government, it could receive up to a $7.8 billion windfall… [starting within the next week!]( [Get all the details on this urgent buy alert now]( - Beat the System We completely agree. An individual – with luck, brains, and determination – can beat the system. And even if it is not true, he should still believe it. He is the only one who can really improve his life. And if he ever loses faith, he’s finished. [This top financial expert just returned from a private meeting with members of the Senate Financial Services Committee…]( He can march in all the demonstrations he wants. He can vote and write letters to the editor… and ask his congressman to take the knee. But he, and only he, is likely to genuinely improve the circumstances of his life. No one will polish his shoes for him. No one will get to work early and pretend to be him… or prove to his boss that he should be given a raise. No one will save money for him… learn new skills for him… or brush his teeth or comb his hair. And if he’s counting on the feds to make his life better, well… good luck to him. Recommended Link [All across America, people are giving up]( [image]( Very few understand America’s new era of capitalism. A Maryland multimillionaire explains the #1 way to ensure you’re not left behind. [Click here for more info]( -- Good and Hard But if the common man ever starts to believe that the elite has betrayed him… has used him as canon fodder in a pointless war… or stolen from him in a scammy financial system… there’s going to be trouble. Here at the Diary, we only try to understand what is going on. And what we see is that the elite have ceased being useful stewards of the nation’s institutions. Now, they have become predatory… exploiting the “two-system” system and hogging wealth for themselves… The average working stiff, laboring in the vineyard of the Main Street system, has not had a real raise in four and a half decades – even in the midst of the biggest rush of technological and scientific progress in history. And now, saddled with student debt, personal debt, car loan debt, housing debt, and the biggest pile of government debt in history… gagged by face masks… and idled by house arrest… young people are set to do even worse. Will the masses ever figure out what is going on? Probably not. Instead, they will howl about “greed” or “racism”… They will rant against “capitalism” and Wall Street… and vote for a scalawag who promises a Universal Basic Income, more stimulus, and more money-printing. And they’ll get what they ask for… …good and hard. Regards, [signature] Bill P.S. What week is this? Here at the ranch, we measure out our lives in empty wine bottles... --------------------------------------------------------------- Like what you’re reading? Send your thoughts to feedback@rogueeconomics.com. --------------------------------------------------------------- FEATURED READS [Special Trading Opportunity Could See a Surge in Volatility… And Massive Gains]( A unique trading opportunity is coming in two weeks which could help you see massive gains. This 24-hour trading window is guaranteed to occur between 10 a.m. ET on June 15 and 4 p.m. ET on June 18. Happening four times per year, it results in volatility surges not seen anywhere else. [Click here]( to learn how to take advantage of this special situation… MAILBAG For the last few days, dear readers have argued the role of hard work in achieving and maintaining a comfortable lifestyle. One reader says times are different today than they were 50 years ago… Kindly explain to the dinosaurs that the world has changed. Their paradigm from the 1950s and 1960s no longer really applies. Try to comprehend reality today, instead of being dismissive. – James P. And in light of racial tensions, race has been brought into the conversation as well. Yesterday, Michael F. said: After watching the militarized police attacking peaceful protestors, it occurred to me that the police are guarding the boundary between “The Haves” and “The Have-Nots” and they’ve been doing this since their beginnings. Even when my family didn’t have much (I grew up relatively poor as well), we were likely not deliberately attacked and locked in cages for what, essentially, amounts to normal human behavior. We are literally waging war on poor black and brown people. – Michael F. And in response to Michael, one reader weighs in... We each find ourselves where we are as a result of our own choices. Starting from a place of extreme poverty, as I did and as many readers did, does not absolve us of the consequences of our choices, both good and bad. I grew up in a small agricultural town of mostly illegal Mexican immigrants and was, by far, a minority for most of my childhood. I suffered bigotry for many years as a result. I cannot be patronized by the suggestion that I enjoy “white privilege.” I know what bigotry feels like as a minority. With assistance available from government programs, the NAACP, ethnicity-based scholarships, and much more to which I never had access – because I am Caucasian – there are far more opportunities for, as Michael put it, “black and brown” people to excel at whatever path they choose. – Jim L. Meanwhile, another dear reader brings up the burden of medical costs in America… and how it relates to economic status… I’m surprised that no one has mentioned the devastation of unforeseen medical costs – insured or not. One can work very hard and make lifelong good financial decisions – even easily sustain a COVID-19 shutdown – but a medical emergency or catastrophic illness in the U.S. can easily lead to financial devastation or bankruptcy. What happens when the great wave of the newly unemployed, formally cushioned by great corporate health care, come to know what it’s like to be either (1) poorly insured, (2) not insured at all, or (3) self-insured with very high monthly payments and extreme deductibles for catastrophic care (an absolute must if one wants to avoid “poor financial decisions”!)? Oh, and this is if you’re healthy and insurable in the first place. – MaryAnn S. How much do race and ethnicity impact one’s economic status and/or financial success? What do you expect on the health care and health insurance fronts, as a result of record unemployment? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… [6 BILLIONAIRES FOLLOW THIS HOBO’S LEAD?]( Some of the richest men in the world–knowingly or not–have been acting like the “hobo” pictured below: - Paul Tudor Jones, estimated net worth: $5.1 billion. - Alexander Nesis, estimated net worth: $2.7 billion - Alexander Mamut, estimated net worth: $2.5 billion - Ray Dalio, estimated net worth: $18.7 billion - Naguib Sawiris: $3 billion - Suleiman Kerimov: $16.4 billion Each of these billionaires has eschewed the stock market with a portion of their wealth… in favor of another investment… A single, overlooked play that Tudor Jones says “has everything going for it.” What’s his next big move? He just went all in again. [Click here for the full story]( how you can take advantage of this situation as well. --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. 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