Goldman Sachs reported second-quarter earnings Wednesday morning that beat analyst estimates for revenue and profit.
Quarterly revenue posted its second-highest reading ever as trading businesses surged on heightened market volatility.
"Our strong financial performance across our client franchises demonstrates the inherent benefits of our diversified business model," CEO David Solomon said.
Goldman shares gained as much as 4.1% in early trading.
U.S. stock indexes finished higher on Tuesday, capping the best quarter for Wall Street in around 20 years…
And then there’s this:
…roughly 50 million Americans have made initial jobless benefits claims in 16 weeks.
Record revenue for banks; record quarter for the stock market; by far, record unemployment. These points got me to think about what became the title of this post. This is not an America worth saving.
There is so much that I agree with the left on…in terms of complaints. By left, I don’t mean what passes as democrats. I mean a principled left. I use different language than does the left, but at its root the list is similar: central banking, criminal justice, government capture, crony capitalism, militarism. Yes, my “cure” is different than theirs, but what we are complaining about is similar.
An America NOT Worth Saving
· Central Banking
· Captured Bureaucracy – including every single intersection of government and big business. Every single one.
· Virtually every single politician in both major parties
· The Military
· The (so-called) justice system
· The IRS
· The major media
· The entertainment industry (other than Dream Theater…and Rush, but they’re Canadian, so I guess I don’t have to make this exclusion for them)
· Most sports personalities
· Public schools
· Many private schools
· The universities
· A good portion of Christian leaders
· The Constitution
An America Worth Saving
· The pleasant interactions I have every single day with the vast majority of people with whom I come in contact
· The Articles of Confederation, married to the Bill of Rights (although such concepts are better kept unwritten vs. written). And I would modify the Second Amendment, as follows: The right of the people to keep and bear arms shall not be infringed. We don’t need any of that confusing “militia” language.
· The history, properly revealed. Without a history – with all of its warts – there is nothing to save.
Look at the list. I am left with an interesting implication. also, a terrible dilemma. In every revolution, the revolutionaries can agree on what they are against. The unfortunate part: they never agree on what they are for – which is why the revolution always eats its young. This current one will as well.
Another thought: there is virtually no constituency that would support the second list while abandoning most of what is on the first.