This clip explains the massive fraud being perpetrated on humanity as we speak.
US GDP is ~$15T;
Entire PLANET GDP: ~$65T;
Bank of America derivatives total $75T; Wells-Fargo derivatives $73T
And they have moved those phony dollars to their commercial side, making them FDIC insured. WE are now on the hook for their crimes, for more money than the entire world produces over several years. This is the result of the repeal of the Glass-Steagall Act in 1999.
Additionally, the UN estimates that the total cost to END WORLD HUNGER would be just under $200 BILLION per year. JP Morgan could feed the world for more than a decade with the money they currently sit on.
As Hurley would say, "The numbers are bad!"
From The Thom Hartmann Program, Free Speech TV 10/19. (Free Speech TV is channel 348 on DirecTV)
Quite a bit of all this debt being Backstopped by the US taxpayer now is Overseas debt is it not ?
Why the hell should the US Taxpayers be on the Hook for Foreign Bank / Government Debt ? - for the gain of Big Banking only. & what with 'Voluntary' debt write-offs becoming a new precedent ? It can't last. They just keep digging the hole deeper, hoping to come out the other side.
Trading success = cut your losers short - let your winners run.
Good and interesting video clip!
And Phil wrote : "... Trading success = cut your losers short - let your winners run."
Cute, but also quite ambiguous. Who are those so-called losers and winners? If Phil had said suckers, rather than losers, then I think it'ld be possible to correctly guess what or who he's talking about with the first guess; but, losers, in his words, might not be quite what I'ld have in mind when thinking of suckers.
Suckers would be people investing their finances blindly, naively, hastily, et cetera, f.e. ; while losers could be such suckers, but also people who make understandable decisions based on known information, Having known and credible, even valid information, doesn't guarantee winning. We can have that information, but while it's nevertheless incomplete ; and even if it was thorough, there probably wouldn't be a guarantee of winning, until that conclusion has been achieved, anyway. There's always the possibility of failing ; even with the best efforts being made for success.
The two words really aren't synonymous.
And if you called them suckers, instead of losers, then someone might ask if you're speaking of fish, or a bloodsucker. :)
Well, while bloodsucker wouldn't make a fitting analogy for the victims of Wall Street, et alia, it'ld fit in the reverse sense.