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The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths, and to secret proceedings.
Let's face it, capitalism isn't always fair!
The American Dream is now beyond the reach of most people.
The middle class continues to shrink, as 5% of the public owns 90% of the money.
And while I'm absolutely in favor of "free markets," they only seem to be benefitting two infinitely small regions of the country - Capitol Hill and Wall Street.
The borders of Washington D.C. encompass only 63.8 square miles.
The borough of Manhattan in New York City only covers 33.8 square miles.
Together, they encompass a miniscule 0.0026% of the United States.
Yet the tandem enjoys every bit of power. (And every conceivable advantage, I might add.)
It's a harsh reality not likely to change anytime soon.
Did you know that President Obama's largest campaign donor when he got elected in 2008 was Goldman Sachs? And that, collectively, Wall Street contributed $9.9 million to his campaign?
If you already knew that, I applaud you.
But there's still plenty you don't know.
Important Note Regarding Tomorrow's Issue: Wall Street Daily's Chief Investment Strategist, Louis Basenese, will reveal something that 99.99% of the investment public is totally clueless about in tomorrow's edition. Be sure to check your inbox at around 6:00 AM EST.
Look, I'm not naïve. I realize that big government, big secrecy and big corruption always walk hand-in-hand through one presidential administration after the other.
But over the last few years, the relationship between Wall Street and Capitol Hill has gotten, well... far too cozy, which leads me to the troubling news I must report today.
You see, the government is withholding information from the public.
And that's scary.
If the American people can't find out exactly what their elected officials are up to, then their elected officials are likely up to no good, right?
Yet it's virtually impossible to find the truth in Washington these days.
Roughly 854,000 people presently hold top-secret security clearances.
More ominous still, 33 building complexes have been constructed in (and around) the Capital Beltway over the last 11 years for top-secret use.
Secrecy is spreading like an infection on democracy, and it has the power to impact your wallet if you're not careful.
According to the U.S. Information Security Oversight Office, the number of new secrets rose 75% from 1996 to 2009.
Over the same period, the number of documents referring to those secrets skyrocketed by a factor of nearly 10 - from 5.6 million to 54.7.
I'm sure you have a pretty tough mindset.
As long as you feel like policymakers have your best interests in mind, you'll accept a finicky economy.
In fact, I suspect that you're "okay" with a decline in your standard of living, as long as you believe the country is getting back on track, right?
Heck, you might even accept that income inequality exists, as long as you feel like you're still getting a fair share of the pie.
When you add the perception that the economic game is rigged...
That those with great wealth and power will always block your way, no matter how hard you try to get ahead...
THEN you get angry. Very angry. (I don't blame you a bit.)
Today, one in every eight Americans is enrolled in the food stamps program.
Meanwhile, Goldman Sachs now pays its employees an average of nearly $600,000 a year.
The starting salary for a big-time congressional or White House staffer is about $500,000.
A Word of Caution About Tomorrow's Issue: If you think all of the government's secrets are outrageous, wait until you read Louis Basenese's article tomorrow. He believes our readers have a God-given right to the truth. And he doesn't mince words. Be sure to check your inbox at around 6:00 AM EST.
Now, you likely signed up for the Wall Street Daily e-letter to access our report's library or perhaps you voted in one of our polls.
Again, you're showing the kind of ambition I've always admired.
But please understand that our research extends far beyond the limits of most every other publication on Earth.
My team consistently breaks stories that you can't read about anywhere else.
And we hate secrets!
We warned of the financial crisis months before it happened. (It wasn't a secret to us.)
We shouted from the rooftops that 3-D printing was about to change the world an entire calendar year before the story hit the wires. (Wall Street really tried to protect this secret.)
We pleaded with our readers to ignore the Facebook IPO. (The media kept this one a secret.)
So consider staying with me at least for one more day.
Tomorrow's issue defies the logic of the rational universe. Yet it's 100% true.
Ahead of the tape,
Publisher, Wall Street Daily
Wall Street Daily
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