Head of Largest Global Assets/Money Management Firm: "Markets Like Totalitarian Governments"

[Hannah Bell]

BlackRock has about $13 trillion under management. That's nearly as much as the entire US GDP, making BlackRock an equivalent power. A single assets management fund. That's the modern problem in a nutshell: capital's organized power exceeds that of any government, democratic or otherwise.

That's why it doesn't matter who you vote for, you get war, austerity, and crap.

BlackRock is run by appropriately named CEO Larry FINK.

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So it is stunning that Blackrock’s Chairman and CEO – Larry Fink – said on Bloomberg TV:

"Markets like totalitarian governments."

Investors can determine whether a nation prospers or starves. Investors can determine the course of nations, including who gets elected and who gets the boot.

No wonder there are so many totalitarian governments in the Middle East, North Africa and around the world. No wonder totalitarianism has been creeping into America’s politics and economics. See this and this.

http://www.washingtonsblog.com/2009/10/capitalism-socialism-fascism-or.html

After finishing The Black Swan, I realized there was a cancer. The cancer was a huge buildup of risk-taking based on the lack of understanding of reality. The second problem is the hidden risk with new financial products. And the third is the interdependence among financial institutions.

: But aren't those the very problems we're supposed to be fixing?

NT: They're all still here. Today we still have the same amount of debt, but it belongs to governments. Normally debt would get destroyed and turn to air. Debt is a mistake between lender and borrower, and both should suffer. But the government is socializing all these losses by transforming them into liabilities for your children and grandchildren and great-grandchildren. What is the effect? The doctor has shown up and relieved the patient's symptoms – and transformed the tumour into a metastatic tumour. We still have the same disease. We still have too much debt, too many big banks, too much state sponsorship of risk-taking. And now we have six million more Americans who are unemployed – a lot more than that if you count hidden unemployment.

http://www.washingtonsblog.com/2010/09/government-using-anti-terrorism-laws-to.html

Government Using Anti-Terrorism Laws to Crush Dissent

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Because big investors (or at least big asset managers) like totalitarian governments. If they instead preferred democracy, democracy would flourish.

http://www.nakedcapitalism.com/2011/03/guest-post-head-of-worlds-largest-asset-manager-says-markets-like-totalitarian-governments.html


Capital doesn't like democracy; if it existed, job one would be to reduce capital's power. Capitalism & democracy are ultimately incompatible. The end game of capitalism is oligopoly & monopoly, no different from the board game. Concentrated economic power = concentrated political power.

[conspirator]

1. kicknt

[blindpig]

2. Which is why capitalists and fascists get along so well. n/t

[In Truth We Trust]

3. Strike, Boycott, Pickett, Inform, FIGHT for RIGHTS to Organize and be Free. Freedom vs Corp.Fascism