Guest Post: We Are All Muppets Now
by Charles Hugh Smith
Every participant in the manipulated, rigged stock market is now a muppet.
Just as President Richard Nixon signalled
his embrace of endless fiscal stimulus and bottomless deficits by declaring “We are all Keynesians now,” it is now apparent that we are all muppets now, willing participants in a fraudulent, manipulated market in the hopes that we will skim the same outsized gains reaped by the manipulators.
Actually, Nixon said, “I am now a Keynesian in economics,” but the catchier phrase has entered popular history.
Using the word muppets to describe credulous investors who could be ripped off at will originated with investment banking giant Goldman Sachs, where employee Greg Smith famously wrote:
“It makes me ill how callously people [at Goldman Sachs] talk about ripping their clients off.
“Over the last 12 months, I have seen five different managing directors refer to their own clients as ‘muppets’, sometimes over internal email.”