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Old 09-27-2019, 11:44 AM   #7117 (permalink)
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Originally Posted by sendler View Post
Hagens gets beat up for saying this but his first masters was finance and he was VP at Lehman and at Solomon before opening his own firm in the 90's so I think he probably knows what he is talking about. Divesting from fossil fuels just lets someone else buy more of the stock back at a cheaper price, probably already rich board members, to make even more money on the dividends. Most of the big majors are fully funded and can do any future development without outside private investors bidding up the stock price.
To make fossil fuel companies quit producing, the demand has to end.
Lehman Brothers went belly up in November,2008.They,and I believe,Nate Hagans would be characterized at 'freshwater' economists.They're the laissez-faire,free-market liberalists who nearly melted down the entire global economy in 2008,costing US taxpayers $10-trillion as of 2009.Their 'Efficient Financial Markets Hypothesis' was predicated upon conditions which never existed in the real world,and are structurally impossible to exist.The very theory behind it revealed the inherent paradox,and oxymoronish nature of it's very premise.
I don't believe Nate Hagans knows anything but free market liberalism,which,as far as I'm concerned makes him an enemy of mankind.There's a lot of things he knows nothing about ,which makes him very dangerous.
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