Most people around the globe think of America as a great "capitalist" economic machine, but the truth is that the U.S. financial system is essentially one massive betting parlor at this point. In fact, there has been a whole lot of easy money made in this betting parlor over the past several years by our politicians and by the big financial players down on Wall Street. So how did they make all of this money? They did it by betting against America.
By betting that the U.S. economy would do badly, a lot of very powerful people have gotten insanely wealthy. Literally billions of dollars have been made over the past five years simply by betting that the U.S. housing market would go into the toilet. But is all of this "short selling" and are all of these "side bets" actually good for the American economy? How is the U.S. economy supposed to succeed when the big banks and so many of our politicians are actively making bets against it?
Just take a moment and check out some of the folks that have been betting against America....
*A Wall Street Journal analysis of congressional disclosures shows that 13 members of the U.S. Congress or their wives were engaged in substantial short selling during the financial crisis of 2008.
*An individual by the name of Jeff Greene made hundreds of millions of dollars during the real estate collapse by making huge bets against the residential housing market. Now he wants to use some of that money to run for the U.S. Senate in Florida.
*Goldman Sachs openly and brazenly bet against its own clients as the housing market began to implode back in 2007 and 2008, and they made a TON of money by doing so.