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View Diary: "Competitiveness," Just Another Word For Nothing Left To Lose (288 comments)

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  •  I think that's a bust-out. (8+ / 0-)

    A pump and dump is a swindle whereby the price of a stock is inflated by manipulated purchases and rumours, and then dumped at the peak, leaving the suckers to hold the piles of worthless paper.

    Why trade your headache for an upset stomach when you can have both?

    In the USA, both have been happening. A "bust out" was applied to the physical assests and manufacturing base. A "pump-and-dump" was applied to the equities market via iunflation of the real-estate markets. The middle classes got taken for most of the assets, which ended up where, exactly? In the pockets of the very rich, who also aquired the proceeds from the bust out.

    A soft answer turneth away wrath: but grievous words stir up anger (Proverbs 15:1)

    by Boreal Ecologist on Sun Jan 23, 2011 at 09:49:56 AM PST

    [ Parent ]

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