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Capitalism is Dead - Long Live the Mighty Con

By   Follow Me on Twitter     Message Chaz Valenza       (Page 1 of 2 pages)     Permalink    (# of views)   2 comments

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Throw away your calculator. Here's how the Big Greed Boy & Girls make the big bucks!

"The long run is a misleading guide to current affairs. In the long run we are all dead." John Maynard Keynes

And, therefore, the trick ("The Game") is to leave the biggest bill for the next guy. A painful lesson most of America learned from Big Greed when we all got stuck with the bill from Wall Street pyramid scheme called "securitization" or "derivatives" or "collateralized debt obligations" or any other word or phrase as a euphemism for fraud.

Keynes Distorted by Author Chaz Valenza
(Image by International Monetary Fund)
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Here's the math: Sales $ minus Cost = Profit or (Loss). Run such a business in today's world? Good luck little man or woman.

I make you a sandwich at my store: $5. Cost of bread, mustard, cold cuts, wrapper: $1. Cost of store rent, insurance, taxes, utilities, et cetera per sandwich sold: $2. Gross Profit: $3.

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Here's where we bring in "The Players," namely accountants, rating agencies, investment bankers, rocket scientists, statisticians, security traders and other notable geniuses in on "The Game." Note: Without complicity of "The Players" you are otherwise not allowed to entry the world of big business fraud, "The Game."

Business Plan ("The Plan"):

Build 1,000 sandwich shops at $1 million each (prima facie absurd, but currently done every day).

Proposal: $1 billion to build shops

$1 billion working capital to pay everyone

Sell long term, forever outstanding or until bankruptcy, investments to raise $2 billion.

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Grow at 1,000 more stores per year.

Fund store growth from cash flow "profits," but never figure in paying back investors.

Let nobody use a calculator to consider paying off investment, as we will all be dead in the long run.

Pay "The Players," again everyone in on "The Plan," exorbitant returns in the short run, while they are alive, so nobody blows the whistle.

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Chaz Valenza is writer and small business owner in New Jersey. He earned his MBA from New York University's Stern School of Business. His current feature film project is "Single Point Failure" an insider's account of how the Reagan Administration (more...)

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