Tag: Economics

American politicians accuse China of currency manipulation for refusing to let the Yuan rise in value. Meanwhile, The Fed is about to engage in another round of “quantitative easing” which is another way to say “currency debauchery” by adding a trillion or more dollars of new debt to our tab which can’t be repaid by Third World America and continue to devalue the already debauched dollar. But The Fed is waiting until the day after the election (not that it will make any difference politically) to make the move. If this move is necessary, why wait?

Who is manipulating whose currency?

Poor posting etiquette, I know, but I really don’t have much time to write. Just read….

http://www.ritholtz.com/blog/2…

Consider:

• Many of the regulations that govern energy and banking sector were written by Corporations;

• The biggest influence on legislative votes is often Corporate Lobbying;

• Corporate ability to extend copyright far beyond what original protections amounts to a taking of public works for private corporate usage;

• PAC and campaign finance by Corporations has supplanted individual donations to elections;

• The individuals’ right to seek redress in court has been under attack for decades, limiting their options.

• DRM and content protection undercuts the individual’s ability to use purchased content as they see fit;

• Patent protections are continually weakened. Deep pocketed corporations can usurp inventions almost at will;

• The Supreme Court has ruled that Corporations have Free Speech rights equivalent to people; (So much for original intent!)

None of these are Democrat/Republican conflicts, but rather, are corporate vs. individual issues.

Excellent Article!  

“When I hear Democrats griping and groaning and saying … ‘the health care plan didn’t have a public option’, and … ‘the financial reform — there was a provision here that I think we should have gotten better’, or, ‘you know what, yes, you ended the war in Iraq, the combat mission there, but you haven’t completely finished the Afghan war yet’, this or that or the other, I say ‘folks, wake up’, ” Obama told wealthy donors at a Democratic National Committee dinner.

Obama told wealthy donors at a Democratic National Committee dinner.

The problem is all those things Obama is blaming liberals for ‘griping and groaning’ about: no public option, no teeth in finance reform, endless wars for profit not purpose, is because Obama has always and only been talking to wealthy donors. The corporatacracy; the financial oligarchy; the great sucking sound as the rich steal from the poor and give to the rich.

Liberals don’t need to be awakened Mr. President. You have woke us up.

An experienced economist and a novice economist are walking down the road. They come across some dog sh*t lying on the pavement.

The experienced economist says, “If you eat that dog sh*t, I’ll give you $20,000!”

The novice economist runs his optimization program and figures out he’s better off eating it, so he does and collects the money.

Continuing along the same road they almost step into another pile of dog sh*t.

The novice economist says, “Now, if you eat this sh*t I’ll give you $20,000.”

After evaluating the proposal, the experienced economist eats the sh*t and collects the money.

They go on. The novice economist wonders, “Listen, we both have the same amount of money we had before, but we both ate sh*t. I don’t see us being better off.”

The experienced economist retorts, “Not so! We’ve created $40,000 of trade!”

I am one of those people who will actually watch those boring, boring, hearings on C-SPAN that most of us flip right on past while watching TV, and this past week I’ve been watching one of the longer events the channel broadcasts…but it’s been far from boring.

The Coast Guard and what used to be the MMS were in Houston looking into what caused the Gulf oil spill and they’re taking testimony from representatives of the involved parties…and let me tell you, this is more than just an accident inquiry-it’s also a warm-up for the lawsuits that are surely going to follow.

We’ve had dozens of trial attorneys basically conducting a deposition process, witnesses who can teach a master course in “plausible unawareability”©, BP employees who have taken the Fifth and refused to testify at all, and, overseeing the entire process, a retired Federal District Court Judge and a Coast Guard Captain who might very well be on the way to trading his eagles for stars one day soon.

Do you really believe all those “we’ll make it right” BP commercials?

If you watch this hearing, that impression may well change.

 

CNN’s Fareed Zakaria says the easiest way to cut the deficit is to let the Bush tax cuts expire.

copyright © 2010 Betsy L. Angert.  BeThink.org

The day was Sunday, August 1, 2010.  Former Fed Chairman, Alan Greenspan appeared on Meet the Press.  When asked to discuss the Congressional debate on tax cuts, the man known to move markets, a person who leans to the “Right,” offered a decisive decree.  In direct disagreement with Republican officials and the profitable corporations that fund countless political campaigns, Mister Greenspan declared, “Look, I’m very much in favor of tax cuts,  but not with borrowed money.  And the problem that we’ve gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day, that proves disastrous.  And my view is I don’t think we can play subtle policy here on it.”  

This statement was as a slap in the face to corporations, or more correctly to the tycoons who head these firms.  Multi-millionaire media moguls might understand this best.  These television and radio Executives experience firsthand that influence over an industry can translate into influence over an outcome.  Cable News Network Chief Officers are among those who actively make use of this truth.  Tax cuts expired?  “Never;” say network Administrators and the newscasters such as Allan Chernoff, who do their bidding.

With so many people still out of work and depending upon unemployment benefits, I thought I might briefly explore one particularly ancient safety net program.  Republicans believe that welfare in any form swells the deficit and creates a system of entitlement, but I disagree.  Pointing back to the Bible, as I so often do, I’d like to discuss the particulars and modern day application of a very ancient custom.  Those who are up in arms about the very thought of welfare might benefit from a different means of framing the issue.

Remember this guy ?    

Only very rarely has a person to the same extent, …..  captured the world’s attention and given its people hope for a better future. His diplomacy is founded in the concept that those who are to lead the world must do so on the basis of values and attitudes that are shared by the majority of the world’s population.

Fresh off of letting the former Minerals Management Services oil bomb a third of our nation’s seafood supply from the Gulf of Mexico into oblivion through regulatory neglect, and letting the EPA perform the world’s largest biology experiment with Corexit spraying,

He’s come up with a great new manufacturing stimulus program to end our nation’s economic malaise of millions of unemployed.

And Dept of Defense Secretary Gates is enthusiastic, saying it will “build high walls around a smaller yard” by narrowing in on the nation’s “crown jewels.”

What could this be ?   Is it a bird, is it a plane, no, it’s more than that,  it’s

  Enlarging the United State’s market share of the international weapons exporting business !  He’s going to double it by 2015.  That would take us from 30% of the market to 60% of the world market.    

What could possibly go wrong ?

India, which currently is seeking 126 fighter-jets worth over $10 billion, 10 large transport aircraft worth $6 billion, and other multi-billion dollar defense sales, could be among the possible beneficiaries. Allies seeking advanced U.S. weaponry and equipment, who now often buy elsewhere due to the cumbersome U.S. approval process, would draw immediate benefit from the reforms, U.S. officials said.

Isn’t this the world’s largest multicultural Asian democracy which currently is embroiled with a little misunderstanding with its Muslim neighbor, Pakistan, which we just happen to be giving money to with one hand, and droning with the other ?  

Although a “Democrat” in the House,  Berman,  is writing a version of the bill, others are also expressing enthusiasm for their kind of stimulating one stop shopping Mall of the Americas experience.   And there will be seasonal sales, and back to school specials, as the boring old technology is rotated to the clearance racks and the new, stylish and advanced technology is put on the front of the aisles.

Rep. Donald Manzullo, R-Ill., represents a district with aerospace and other manufacturers, and said reform is needed for the survival of U.S. manufacturing.

“We can begin to manufacture our way out of this recession by reforming our export controls,” Manzullo said in a speech at the American Enterprises Institute, a conservative think tank.

Okay, they’re a little bit worried about who might get the clearance rack weapontry items, but not too much.

Ah, streamlining ! Transparency !  Hope and Change !

Your kid didn’t need that publik skoolun fer kollage anyway. Call your local recruitment office now and reserve him or her a space for 2015.  They’ll leave the lights on for ya.  

In response to our nation's vast economic and ecological problems, Green Change has launched a campaign for a Green New Deal.

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3) Set ambitious, science-based greenhouse gas emission reduction targets, and enact a revenue-neutral carbon tax to meet them;

4) Establish single-payer “Medicare for all” health care;

5) Provide tuition-free public higher education;

6) Change trade agreements to improve labor, environmental, consumer, health and safety standards;

7) End counterproductive prohibition policies and legalize marijuana;

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