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Big League Economics

CAPITALISM’S VILLAINS: Meet the Globalist Vultures Feasting on the Remains of America

It’s not just Paul Singer…

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Recently, Tucker Carlson of Fox News exposed globalist oligarch Paul Singer, an influential Republican Party donor, for using his Wall Street clout to gut a small town in Nebraska.

Carlson showed how Singer’s influence to push the merger between retail giants Cabela’s and Bass Pro Shop devastated Sidney, Nebraska and left the town’s economy in complete disrepair:

In October 2015, Singer’s hedge fund disclosed an 11 percent stake in Cabela’s and set about pushing the board to sell the company. Cabela’s management, fearing a long and costly fight with Singer, announced it would look for a buyer. At the time, Cabela’s was healthy. The company was posting nearly $2 billion a year in gross profits, off $4 billion in revenue. There was no immediate need to sell. But they did anyway. One year after Singer entered the equation, Bass Pro Shops announced the purchase of Cabela’s. The company’s stock price surged. Within a week, Singer cashed out. He’d bought the stock for $38 a share. He sold it for $63. His hedge fund made at least $90 million up front, and likely more over time…

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The residents of Sidney didn’t get rich. Just the opposite. Their community was destroyed. The town lost nearly 2,000 jobs. A heartbreakingly familiar cascade began: people left, property values collapsed, and then people couldn’t leave. They were trapped there. One of the last thriving small towns in America went under. We recently sent two producers to Sidney, to survey the wreckage and consider what happened. Our producers talked to more than a dozen former Cabela’s employees. Almost all of them refused to speak on camera, fearful of legal retribution from the famously vicious Paul Singer.

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While Carlson was right to put Singer on blast, there are many other globalist vultures who are feasting on the remains of America and the rest of the world. Sadly, many of them hold significant sway in the Republican Party and with the Trump administration.

The most influential global firms in the field of vulture capital include Singer’s Elliot Management as well as FG Hemisphere, Canyon Capital Advisors, OakTree Capital, Monarch Alternative Capital, Tilden Park Investment Master Fund LP, Cerberus, GoldenTree Asset Management, Aurelius Capital Management, Fundamental Advisors, Autonomy Capital, and the Baupost Group.

These organizations are globalist in nature, and always looking to exploit the greedy and corrupt nature of governments. They are particularly rapacious in the third-world, and the case study of Puerto Rico demonstrates their malign influence. Puerto Rico announced their municipal bankruptcy in 2018 based on more than 74.8 billion in debt that they could not pay back, and the money was owed to the vultures.

The debt was owed to all of the aforementioned venture capital groups, save Cerberus, and they demand payment at the direct expense of the people. They showed their villainy after Hurricane Maria caused death and destruction in Puerto Rico in September 2017 when the island nation temporarily stopped payment to their creditors to handle disaster relief.

In the aftermath of the disaster, the vultures saw a new opportunity to extract more money from the beleaguered population. The Prepa (Puerto Rico Electric Power Authority) Bondholder group, a conglomerate of many different vultures, attempted to foist $1 billion in new loans on Puerto Rico while they were at their most vulnerable. The government was insulted by the proposal of the vultures to shamelessly profit from human misery.

“Such offers only distract from the government’s stated focus and create the unfortunate appearance that such offers are being made for the purpose of favorably impacting the trading price of existing debt,” the Puerto Rico’s Fiscal Agency and Financial Advisory Authority said in a statement.

Unfortunately, these vultures have their claws hooked into the White House – despite the Trump administration’s pledge to put America first. Stephen Feinberg, founder and CEO of Cerberus, was named chair of Trump’s Intelligence Advisory Board in May 2018. Feinberg owns DynCorp, a defense contractor that profits heavily from the continued U.S. occupation of Afghanistan. Trump has attempted to scale back the U.S. presence in Afghanistan multiple times as President, but always seems to get tripped up. Perhaps it’s because Trump’s own Intelligence Advisory Board chair is heavily incentivized monetarily for the President to fail at bringing the troops home.

It has troubled many patriotic Trump supporters why it has been so hard for the President to enact his mandate of closing the border, building the wall, bringing the troops home, and draining the Washington D.C. swamp. The answer is the money masters behind the Republican Party are keeping Trump’s agenda from coming to fruition, and the vultures – who are among the worst of what modern capitalism has to offer – are exerting their undue influence to sabotage the President and maintain the globalist status quo.

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Big League Economics

BLOODBATH: Coronavirus Panic Expected to Wipe Out 110,000+ Restaurants, Devastate U.S. Food Service Industry

The cure may be worse than the disease.

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The coronavirus pandemic and mass hysteria that has followed it will have a long-lasting negative impact on the food service industry, according to a recent study.

A survey from the National Restaurant Association (NRA) of over 4,000 restaurant owners has indicated that 11 percent of restaurant owners believe they will have to close up shop permanently with three percent saying they have already closed their doors for good. These calculations extrapolated across the entire industry mean that over 110,000 restaurants will be forced to close forever within a month.

In the first 22 days of March, restaurants lost an estimated $25 billion in sales and over three million jobs because of coronavirus-related economic peril. The consumption-based economy has evaporated immediately, and the ramifications could be dire.

Roger Lipton, a restaurant industry investor and commentator, is calling this the “restaurant apocalypse” and sees the business heading into uncharted territory where the damages could be unlike anything that has happened in the industry before.

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“Any pundit who thinks that they’re going to use a recent history — and by recent history, I mean the last 100 years, including the Depression — as a template for what is going to go on here? They’re kidding themselves,” Lipton said to Business Insider on Monday.

Cowen analyst Andrew Charles is predicting that the pain is just getting started for the restaurant industry. Charles is forecasting “a steady, double-digit decline in same-store sales that began on March 16th and persists through the end of July.” Jordan Thaeler, founder of the foot traffic tracking company WhatsBusy, told Cowen that fine dining sales have dropped over 90 percent, casual dining has dropped 75 percent, and fast food has dropped by approximately 50 percent due to the coronavirus pandemic.

Lipton believes that the turmoil in the restaurant industry will likely last for years. He thinks that many franchises, many of which are already flush with debt, will ultimately go under after losing steady revenue streams from franchisees. Small mom-and-pop restaurants with no major cash reserves will also be squeezed tremendously during this crisis.

“The good news is people have to eat,” Lipton said. “Some companies are going to figure it out. And others, for one reason or another, won’t be able to.”

Big League Politics reported on the effects that the coronavirus pandemic has had on GDP yesterday, showing that the economic carnage is not just impacting the food service sector:

Americans across the country are feeling the pain regardless of what industry they are in. A study from Candor has indicated that 267 companies have instituted a hiring freeze due to coronavirus while 44 have laid off employees and 36 others have been forced to rescind offers because of the pandemic.

“The travel, hospitality, and transportation segment was particularly hard hit, with 95% of companies freezing hiring. Only two companies, Bolt and Cruise, report they are still hiring. All booking platforms — like Kayak, Expedia, and Booking.com — have suspended hiring. Uber and Lyft have a headcount freeze but continue to backfill already open positions. And 12 companies — like Bird, Expedia, Sonder, Mondee, and Knotel — have confirmed layoffs,” VentureBeat wrote in their analysis of the data.

They noted that the companies that are still hiring are doing so at a reduced pace because of the economic carnage caused by coronavirus.

“The good news: 111 companies are hiring. But 10% of those still hiring have implemented some kind of hiring freeze, laid off people, or had offers rescinded. That’s likely because hiring only continues for essential roles,” they wrote.

Forbes has published a run-down of all the companies that downsizing due to the economic calamity. They have compiled information from hundreds of employers showing the number of American workers displaced because of the pandemic.

Unemployment filings are at an all-time high, with 6.6 million beleaguered Americans filing for benefits last week.

The economy, which President Donald Trump once touted as the best in the history of the country, is at risk of falling into a serious recession or depression because of the coronavirus pandemic.

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