J.P. Morgan Confirms That Another COVID-19 Lockdown Would Further Enrich the Globalist Elite
Monolithic banking firm J.P. Morgan confirmed what should be obvious by now: COVID-19 lockdown policies help globalist elites and China-owned corporations amass more political and economic power.
“Although it has had a negative impact in the short term, the reemergence of lockdowns and resultant growth weakness could bolster the above equity upside over the medium to longer term via inducing more QE and thus more liquidity creation,” J.P. Morgan managing director Nikolaos Panigirtzoglou said.
“This doesn’t mean that any fiscal stimulus post US election would not have implications for markets. It would, but more in terms of how steep the yield curve or how broad the equity bull market is going to be post the US election, i.e. whether it would encompass value and traditional cyclical sectors or continue to be more narrowly focused on high quality and growth oriented stocks,” JP Morgan said in their full statement.
“It also means that the virus resurgence and the reemergence of lockdowns and growth weakness could bolster the above equity upside via inducing more QE and thus more liquidity creation,” they added.
J.P. Morgan understands that the Federal Reserve and big government will bail them out when times get tough, but small businesses will die, and competition will be crushed. The wonks at Zerohedge offered the technical definition of this incredibly evil economic system that is emerging out of the pandemic.
“Yes – JPM did in fact state what “tinfoil blogs” had been saying for over a decade: that the worse the economy gets, the better it is for risk assets as the Fed has no choice but to step in and keep bailing out bulls as the alternative – a full-blown market crash – is simply an inconceivable scenario for a country where private sector financial assets now represent a record 6.2x the GDP and where household net worth which is mostly in financial assets, has never been larger,” they wrote.
Big League Politics has reported on how oligarchs have grown obscenely rich throughout the pandemic, which has facilitated the greatest wealth transfer in human history:
Research that the Institute for Policy Studies published on August 17, 2020 indicated that the dozen richest Americans now own more than $1 trillion in wealth.
One analyst described this development as “a disturbing milestone in the U.S. history of concentrated wealth and power.”
Omar Ocampo, an analyst at the Institute for Policy Studies said, “The total wealth of the Oligarchic Dozen is greater than the GDP of Belgium and Austria combined. Meanwhile, tens of millions of Americans are unemployed or living paycheck to paycheck.”
Jake Johnson of Common Dreams highlighted some of the key findings from the progressive think tank’s research.
IPS noted that the 12 leading American billionaires have witnessed their combined wealth increase by 40 percent — $283 billion — since the Wuhan virus outbreak, which has propelled policymakers to implement economically devastating shutdowns.
“During the first stage of the pandemic, between January 1 and March 18, the collective wealth of the Oligarchic Dozen declined by $96 billion,” IPS analysts Chuck Collins and Omar Ocampo wrote. “But their wealth quickly rebounded and surpassed their September 2019 Forbes 400 wealth level. The only exception is Warren Buffett, who is still $2 billion below his September 2019 wealth, but is currently worth $80 billion.”
As of August 13, the billionaires’ total wealth reached $1.015 trillion. Johnson noted that is “the first time in U.S. history that the collective net worth of the top 12 American billionaires has topped the trillion-dollar mark.” According to IPS, Tesla and SpaceX CEO Elon Musk’s wealth skyrocketed by $48.5 billion since the middle March. This surge in wealth made Musk the “biggest pandemic profiteer” of the billionaire bunch.
“This is simply too much economic and political power in the hands of twelve people,” Collins, director of IPS’ Program on Inequality and the Common Good, declared in a statement.
If President Trump does not achieve absolute victory in Tuesday’s election, the middle class will likely be wiped away for good with COVID mass hysteria as the excuse for this economic takeover.