The Phaserl


The Rich Are Hiding This From You

by Jimmy Mengel, Outsider Club:

A few years back, a friend of mine had an opportunity to get in on the ground floor of a very promising investment…

He was poised to invest $25,000 in, a website that teaches players “the game of kings” — and churns out some serious coin while doing so. A $25,000 investment would have netted him $500,000 — an unbelievable return by any measure.

Alas, accredited investor laws prevented him from taking advantage of the private placement, and he was left to watch helplessly as the super-wealthy bought in and cashed out.

In order to be an “accredited investor” you must either make $200,000 a year, or have at least a million bucks sitting in the bank.

It goes without saying that most individual investors don’t have a cool million to drop on a promising or potentially life-changing investment idea.

I sure don’t.

But thankfully, I’ve found a way around this loophole…

While these SEC rules are supposed to “protect” investors, what they really do is box out everyone but the Wall Street fat cats and Hedge Fund titans. Instead of making these opportunities available to the people who could really benefit — individual, mom-and-pop investors like you and I — only the super-wealthy have backstage access to the most lucrative of these deals.

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1 comment to The Rich Are Hiding This From You

  • rich

    Paul Ryan Sorry for Calling Americans “Takers.” Let’s Talk About the Real Takers.

    Foroohar, TIME assistant managing editor and economic columnist and global economic correspondent at CNN, has a pretty good idea where to find the takers. They are neither single moms in inner city housing projects nor unemployed white men in Appalachia.

    They are the denizens of plush Wall Street offices, and they have pretty much absconded with the American Dream. Despite the remarkable ability of financiers to hide behind complexity and dodge the spotlight of the media, the regulators, and the law, Americans are copping onto the breadth and depth of the swindle. They have just about had it — which is why voters have been flocking in droves to the fiery Bernie Sanders, who wants to jail financial crooks and end to Too Big to Fail, and to Wall Street heckler Donald Trump, who describes hedge fund managers as worthless moneymen who ”get away with murder” and gleefully trashes uber-bankers like Jamie Dimon.

    Foroohar has traced a seismic shift that has not only left Washington kissing the feet of Wall Street, but has turned previously normal and comprehensible activities, like making stuff and selling it, into insanely complicated financial death races where ordinary Americans are the road kill. This very shift has turned companies like Apple from makers of cool gadgets to a market-rigging megabanks, pharmaceutical companies into cold-blooded financial predators, and the American Dream of dignity, health, and the pursuit of happiness into a fantasy for large swaths of the population.

    For Foroohar, “takers” is how you refer to people who do nothing of value for society and whose activities leave students crushed with debt, retirees living in RVs, capable workers struggling to land a third-rate gig, and sick people so many tasty morsels for financial vultures.

    Through in-depth reporting, historical analysis, and consultation with a range of forward-thinking economic minds, including Institute chair Adair Turner, president Rob Johnson, and grantees like Joseph Stiglitz and William Lazonick, her book explains how our financial system stopped funding new ideas and projects and started extracting precious resources from Main Street. Her writing leaves a vivid impression that once the financial wizards get their way, nobody in safe — from the young college grad next door drowning in debt owed to predatory lenders to the child halfway around the world whose dinner fell victim to commodities speculation.

    As I turned the pages, I began to imagine Big Finance as a giant exotic vine from some florid catastrophe movie that has grown out of control, creeping onto the roofs of our houses, reaching into the food on our plates, tightening its hold on our wallets — and even taking over our minds. I’m embarrassed to say how many times I hear phrases like “human capital” and “return on investment” issuing from my own lips — finance-originated concepts used to describe relationships and activities that have little to do with spreadsheets.

    Foroohar follows the financial Cheshire Cat as he baffles and jumps through tax loopholes, spins through revolving doors, and sneakily gobbles up savings accounts. She shows how the trend of financialization — an ugly word for the ballooning of the financial sector relative to the overall economy — has led directly to the things that have Americans feeling so betrayed, like crappy McJobs, foreclosed futures, rampant volatility and insecurity, a stalled economy, and an increasingly painful gap between the rich and everyone else. Which is why things like the decline of the middle class and economic inequality have become front and center issues in the 2016 presidential campaign, no matter how much elites of both parties would prefer to change the subject.

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