Stockman points out Wall Street’s “earnings” scam
Once upon a time, U.S. corporations practiced what was known as Generally Accepted Accounting Principles (GAAP.) Thus, it was pretty easy to figure out who was profitable and who wasn’t. These days, you need a thesaurus, computer and a really stiff drink to try to figure out what many a U.S. corporation is TRULY making (or not.)
In this interview — as entertaining as it is maddening — former Reagan Administration OMB Director David Stockman talks about this earnings alchemy with CNBC’s Rick Santelli.
good post John. Some of these so called good guys…should have spilled the beans long ago…..
John have you read, heard or listened to solili report on the BLACK BUDGET?
J………
I’ve never heard of it.Where do I find it?
solari .com.. but It might be easier to go back two sessions and look under IRWIN’S POST………..The utube video is over an hour long…this only contains info on money, if you have any problems in finding , just come back to this area…..and I will try to locate.
go BACK TO RICK ACKERMANS report……….go down about half way…..
Catherine Fitts is a Patriot.
Look at my post a couple of days ago when I said that Congress had lost control.
America is a great Country,with great people.
Generations of veterans have sacrificed for our freedoms.
When is the last time you heard a politician talk about individuals freedoms?
Those that have the dirty conscious will have to answer.
The fat lady is warming up.
John…I agree..
Thanks for mentioning the BLACK BUDGET , in your past rebuttal with……………
Folks should be worried about our leadership’s apparent wish to deal with Iran.
Iran’s known weaponry appears equally prevalent in Syria and Lebanon, clearly supplied by the U.S.-designated “terrorist” state, Iran. Iran now is beginning to establish a military presence on the Golan Heights.
Iran is also present and slowly beginning to win in Yemen.
This last fact is important because the waters off Yemen are another choke point for transportation of oil to Europe.
Do you know how many short-range missile systems Iran has obtained over the last 15 years?
Answer: 9 different systems.
Of these the Yakhont land-to-sea missile is the most problematic for the West. This missile has a range of 300 kilometers and can fly high or wave-hoppingly low, depending as needed. This would give Iran complete ability to control flow of much of Gulf oil to the West, if it so chose from the Yemen coast.
GOLD 1509 in Canada………
Gold in $cdn up 9.5% for the year.
That is also it’s yearly average return since the year 2000.
David Stockman forgot who he was really working for back when he was budget director for then president Ron Reagan.
Tax payers money was funneled through the IMF to cover Third World countries bad loans to BOA,Citibank,Chase Manhatten,and others.
These loans should have defaulted and been written off,but of course they weren’t.
This is quoted from Jim Mar’s book”Our Occulted History. Do the Global Elite Conceal Ancient Aliens.”