Tags: Oligarchs

Video of the Day: Ferraris, Maseratis & More – How the Children of Chinese Oligarchs Live it Up in SoCal

Screen Shot 2014-11-20 at 11.56.27 AMThe interesting thing about America in 2014, is that the worship of our own domestic criminals just doesn’t cut it anymore. In order to ensure our celebration of corruption is crystal clear to the entire planet, our “leaders” have eagerly opened the floodgates to criminals from all over the world. The most recent focus has targeted corrupt Chinese officials and their children, which makes sense as China is cracks down on corruption. While capital moves to where it is treated best, apparently so does criminality.

I have been highlighting this trend all year, with the post: Open the Floodgates – Chinese Inquiries on U.S. Real Estate Soar 35% After Easing of Visa Rules, being the latest. In that piece, we learned that:

Chinese inquiries about real estate investment in the United States surged 35 percent this week after the two countries agreed to extend the terms of short-term visas, China’s top international property portal said on Friday.

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Glenn Greenwald on Hilary Clinton: “Soulless, Principle-Free, Power Hungry…”

Screen Shot 2014-11-14 at 10.08.22 AMOne attribute I like most about Glenn Greenwald is that he never pulls punches. One of his most prescient and cutting political lines came earlier this year when he made some observations on the upcoming 2016 Presidential election, in which two status quo, corrupt, bloodthirsty con-artists will compete for the Oval Office. While we don’t yet know which crony the GOP will put up, Hilary is pretty much a foregone conclusion for the Democrats. Greenwald observed:

Hillary is banal, corrupted, drained of vibrancy and passion. I mean, she’s been around forever, the Clinton circle. She’s a fucking hawk and like a neocon, practically. She’s surrounded by all these sleazy money types who are just corrupting everything everywhere. But she’s going to be the first female president, and women in America are going to be completely invested in her candidacy. Opposition to her is going to be depicted as misogynistic, like opposition to Obama has been depicted as racist. It’s going to be this completely symbolic messaging that’s going to overshadow the fact that she’ll do nothing but continue everything in pursuit of her own power. They’ll probably have a gay person after Hillary who’s just going to do the same thing.

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Ex-NYC Mayor Mike Bloomberg on Dodd-Frank: “The Government Should Have Let the Industry Craft the Bill”

Screen Shot 2014-11-12 at 10.35.10 AMThis week has been the week of the ill advised oligarch quote. It all started quietly enough, with Las Vegas Sands CEO and crony Republican godfather, Sheldon Adelson, expressing his disdain for both journalism and democracy, all in one quaint little conference in which participants debated how quickly and how severely Iran should be bombed into the stone age.

Then we had the architect of Obamacare, the consummate oligarch minion, Jonathan Gruber, admit that the law was deliberately crafted deceptively in order to fool the “stupid” American public.

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The Challenges of Defending Your Child’s Mind from Propaganda

Screen Shot 2014-10-23 at 11.13.40 AMIn great empires the people who live in the capital, and in the provinces remote from the scene of action, feel, many of them, scarce any inconveniency from the war; but enjoy, at their ease, the amusement of reading in the newspapers the exploits of their own fleets and armies. To them this amusement compensates the small difference between the taxes which they pay on account of the war, and those which they had been accustomed to pay in time of peace.They are commonly dissatisfied with the return of peace, which puts an end to their amusement, and to a thousand visionary hopes of conquest and national glory from a longer continuance of the war. 

– Adam Smith in The Wealth of Nations

Let’s face it, your child’s mind is fertile ground for oligarchs, corrupt politicians and any other thieving member of the so-called “ruling elite” who aim to enslave the masses both mentally and monetarily. Unfortunately, the propaganda that comes from the government and our largest corporations is perceived as being absolute truth by most people. If you’re like me, at one point in time you had to wake up to it all and accept that you had been completely brainwashed for the first few decades for your life.

On a parental level, defending my child’s mind against blatant lies and deceit from the media, military industrial complex and corporatism is really not that difficult. But what about their grandparents, cousins or the kids next door?

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Welcome to Arcadia – The California Suburb Where Wealthy Chinese Criminals are Building Mansions to Stash Cash

Screen Shot 2014-10-16 at 1.53.00 PMThe city, population 57,600, projects that about 150 older homes—53 percent more than normal—will be torn down this year and replaced with mansions. The deals happen fast and are rarely listed publicly. Often, the first indication that a megahouse is coming next door is when the lawn turns brown. That means the neighbor has stopped watering and green construction netting is about to go up.

Arcadia is a concentrated version of what’s happening across the U.S. The Hurun Report, a magazine in Shanghai about China’s wealthy elite, estimates that almost two-thirds of the country’s millionaires have already emigrated or plan to do so.

– From the Bloomberg article: Why Are Chinese Millionaires Buying Mansions in an L.A. Suburb?

The surge in foreigners buying up U.S. real estate has been well documented in recent years. Of all this buying, no nation has demonstrated a bigger increase in purchases than China. In fact, it is estimated that 24% of all foreign purchases of domestic real estate this year have come from China, up 72% from last year. In my post from July, Chinese Purchases of U.S. Real Estate hit $22 Billion as The Bank of China Facilitates Money Laundering, I noted that:

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Chinese Homebuilders Expand in America as U.S. Auto Loans Hit Record Levels

Just a little tale from the streets of America
Sparkled promises paved with pathos and hysteria
Trenchant, weary native sons
Step back, step back
And see the damage done
Meander to the horizon 
The streets of America

– Bad Religion, Streets of America

Late last week I published a post titled, Your Wall Street Slumlord Arrives in Europe – Goldman and Other Financial Firms Launch “Buy to Rent” in Spain, in which I highlighted the fact that U.S. financial oligarchs had recently turned their sights toward Spanish real estate after feasting on the American market for several years and driving home prices to unaffordable levels for much of the native population.

Interestingly, today I came across an article in the Wall Street Journal that noted Chinese homebuilders are beginning to make a more aggressive push into the U.S. market. One of the main reasons for this phenomenon appears to be:

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“Dead Broke” – Meet the Clintons’ $100,000 3-Week Hampton Rental

If being “dead broke” means dropping $100k on a 3-week rental in the Hamptons, then I’d like to be dead broke too.

In case you aren’t aware of what I’m referring to, recall that:

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Former Aide to Bill Clinton Speaks – “My Party Has Lost its Soul”

Screen Shot 2014-07-29 at 10.37.26 AMOne reason we know voters will embrace populism is that they already have. It’s what they thought they were getting with Obama. In 2008 Obama said he’d bail out homeowners, not just banks. He vowed to fight for a public option, raise the minimum wage and clean up Washington. He called whistle-blowers heroes and said he’d bar lobbyists from his staff. He was critical of drones and wary of the use of force to advance American interests. He spoke eloquently of the threats posed to individual privacy by a runaway national security state.

He turned out to be something else altogether. To blame Republicans ignores a glaring truth: Obama’s record is worst where they had little or no role to play. It wasn’t Republicans who prosecuted all those whistle-blowers and hired all those lobbyists; who authorized drone strikes or kept the NSA chugging along; who reneged on the public option, the minimum wage and aid to homeowners. It wasn’t even Republicans who turned a blind eye to Wall Street corruption and excessive executive compensation. It was Obama.

A populist revolt among Democrats is unlikely absent their reappraisal of Obama, which itself seems unlikely. Not since Robert Kennedy have Democrats been so personally invested in a public figure. Liberals fell hardest so it’s especially hard for them to admit he’s just not that into them. 

- From Bill Curry’s excellent article in SalonMy party has lost its soul: Bill Clinton, Barack Obama and the victory of Wall Street Democrats.

Bill Curry’s article published this past Sunday by Salon is simply extraordinary. One of the things I’ve felt has been lacking in America for some time is the ability for well-meaning people within the “power structure” to look inward and be honest with themselves about the immoral decay fellow members of their socio-economic class have wrought upon the nation via a singleminded pursuit of wealth and power. A perfect example of an ignorant, destructive oligarch completely devoid of self-awareness was put on full display earlier this year when Sam Zell appeared on Bloomberg TV and essentially said the poor just need to act more like the rich.

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The New York Times Describes Obama – “A Restless President Weary of the Obligations of the White House…”

Screen Shot 2014-07-14 at 4.27.46 PMWhat’s so amusing about today’s article from the New York Times titled, At Dinner Tables, Restless President Finds Intellectual Escape, is that the author appears to be quite sympathetic to Obama. She seems to want to portray the President as a real statesman; one who is so far above politics and the pedestrian task of being Commander in Chief that he finds it necessary to flee his responsibilities in order to find intellectual escape while dining extravagantly with “elites” in Europe. In contrast, he merely comes across as the arrogant, disconnected, oligarch coddler he is.

The article also seems to say something important about the New York Times’ own disconnectedness, particularly considering the paper’s Pentagon correspondent recently referred to the American public as children, with the government and mainstream media playing the role of parents.

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India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England

Screen Shot 2014-07-02 at 3.50.34 PMIndia’s gold policy over the last several years is about as dysfunctional as any government policy I have ever seen, and that’s saying a lot. In case you need a reminder, here are a few posts I have written on the subject:

The Times of India: “Almost Every Passenger on a Flight from Dubai to Calicut Was Found Carrying 1kg of Gold”

Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade

Indian Temples Fight Back Against Government Gold Grabbing Plot

In a nutshell, Indians were buying too much gold for their government’s comfort, so the “authorities” stepped in with duties and import restrictions in an attempt to stifle the trade. So smuggling soared.

Fast forward to today. It appears the government has finally realized they can’t stop their citizens penchant for gold, so they have decided to dump central bank gold onto the market. What is incredible to me is that they are justifying this with a so-called “swap” into phantom gold at the Bank of England. The favored global hub of shady, rent-seeking, banker oligarchs.

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