EPISODE · Nov 3, 2024 · 29 MIN
Billionaire BlackRock CEO: 'Doesn't matter' who wins US election; Trump & Kamala benefit Wall Street
from Geopolitical Economy Report · host Ben Norton
Billionaire BlackRock CEO Larry Fink said it “really doesn’t matter” who wins the US presidential election, because both Donald Trump and Kamala Harris will be good for Wall Street. Ben Norton shows how the United States is not a democracy but rather an oligarchy, in which big corporations buy politicians and lobbyists create policies. VIDEO: https://www.youtube.com/watch?v=chPfp01rsD0 Topics 0:00 US election season 0:42 BlackRock CEO: it “really doesn’t matter” who wins US elections 2:20 The "Big Three" Wall Street asset managers 3:06 S&P 500 and Nasdaq bubbles 4:35 Richest 10% of Americans own 93% of stocks 5:30 Princeton study: USA is oligarchy, not democracy 6:26 Billions spent buying US elections 7:54 Money buys seats in Congress (90% of the time) 8:50 Crypto industry funds Republicans & Democrats 10:51 Biden promised rich donors "nothing would fundamentally change" 11:59 Extreme wealth & income inequality in USA 15:12 US wages stagnated while productivity soared 15:42 Financialization of US economy 17:09 Inflation & cost of living crisis 18:43 House prices grow much faster than wages 20:48 Blackstone: the world's largest landlord 22:49 Private equity 24:03 Blackstone CEO Stephen Schwarzman funds Trump 24:28 Kamala Harris & Trump woo Wall Street 25:25 Trump tax cuts make rich much richer 27:19 BlackRock makes economic policy for Biden & Harris 28:10 USA is an oligarchy 29:41 Outro
What this episode covers
Billionaire BlackRock CEO Larry Fink said it “really doesn’t matter” who wins the US presidential election, because both Donald Trump and Kamala Harris will be good for Wall Street. Ben Norton shows how the United States is not a democracy but rather an oligarchy, in which big corporations buy politicians and lobbyists create policies. VIDEO: https://www.youtube.com/watch?v=chPfp01rsD0 Topics 0:00 US election season 0:42 BlackRock CEO: it “really doesn’t matter” who wins US elections 2:20 The "Big Three" Wall Street asset managers 3:06 S&P 500 and Nasdaq bubbles 4:35 Richest 10% of Americans own 93% of stocks 5:30 Princeton study: USA is oligarchy, not democracy 6:26 Billions spent buying US elections 7:54 Money buys seats in Congress (90% of the time) 8:50 Crypto industry funds Republicans & Democrats 10:51 Biden promised rich donors "nothing would fundamentally change" 11:59 Extreme wealth & income inequality in USA 15:12 US wages stagnated while productivity soared 15:42 Financialization of US economy 17:09 Inflation & cost of living crisis 18:43 House prices grow much faster than wages 20:48 Blackstone: the world's largest landlord 22:49 Private equity 24:03 Blackstone CEO Stephen Schwarzman funds Trump 24:28 Kamala Harris & Trump woo Wall Street 25:25 Trump tax cuts make rich much richer 27:19 BlackRock makes economic policy for Biden & Harris 28:10 USA is an oligarchy 29:41 Outro
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Billionaire BlackRock CEO: 'Doesn't matter' who wins US election; Trump & Kamala benefit Wall Street
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