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A Brief History of Securitization
- 67646 reads
Ignoring the Big Picture/Disturbing Trend in Graphs
- 30463 reads
BREAKING: Wall Street Mega-Merger!!!
- 22946 reads
The war on the middle class
- 314892 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 183230 reads
Text of Bail Out Act Before Congress - TAKE ACTION NOW!
- 70209 reads
U3 and U6 Unemployment during the Great Depression
- 320867 reads
New York Post Claims Census Falsifies Unemployment Figures
- 949279 reads
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A Brief History of Securitization
- 67646 reads
Ignoring the Big Picture/Disturbing Trend in Graphs
- 30463 reads
BREAKING: Wall Street Mega-Merger!!!
- 22946 reads
The war on the middle class
- 314892 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 183230 reads
Text of Bail Out Act Before Congress - TAKE ACTION NOW!
- 70209 reads
U3 and U6 Unemployment during the Great Depression
- 320867 reads
New York Post Claims Census Falsifies Unemployment Figures
- 949279 reads
The Golden Rule
- 1826119 reads
Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
- 1215985 reads
New York Post Claims Census Falsifies Unemployment Figures
- 949079 reads
How Many Jobs Are Needed to Keep Up with Population Growth?
- 361599 reads
VAT or Value Added Tax is Getting a Look in D.C.
- 345166 reads
U3 and U6 Unemployment during the Great Depression
- 320766 reads
The war on the middle class
- 314779 reads
House discusses 401k/IRA confiscation
- 313918 reads
Tax Cuts for the Rich Do Not Generate Jobs
- 279573 reads
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THE ROOSEVELT COUP D'ETAT
We must recall that some 85,000 (or more) H-1B visa "initial employment approvals" became active on October 1st. The net employment gain for was likely negative 5000 for citizens and permanent residents in October.
I've noticed a fairly radical departure in the Labor Statistics. Looking at the "change" in the two categories since End of Year 1999:
Series title: (Unadj) Civilian Labor Force Level
Series title: (Unadj) Not in Labor Force
Data Source: CPS Labor Force Statistics
Generally, the "trend" in these two categories is constant, in Oct. 2008 we see a drastic departure in long term trends. I say this because if one were interested in hiding a large unemployment statistic, one could make the determination that those unemployed persons are no longer seeking employment and then classify them as "Not in the Labor Force". Additionally, one might under-report population growth to minimize the unemployment statistic.
For the period I've measured, growth of persons in "Not in the Labor Force " has exceeded the "Civilian Population" increases, 17,290,000 to 14,147,000 respectively.
44,000 in Employment growth for the month of October would fit the professions eligible to H-1B temporary workers.
Source: Employment Situation Summary, Nov. 4, 2011
Today, NYTimes report that a Silicon Valley Venture Capitalist , Mr. King who made his fortune sponsoring Baidu wants to sponsor the planting of hazelnut trees on the border between China and India.
"
Mr. King, a Stanford business school alumnus, is largely unknown outside start-ups and venture capitalists, but has built a fortune out of R. Eliot King & Company and Peninsula Capital, which was one of the first investors in Baidu, the Chinese version of Google.
That investment came about when Xiangmin Cai, a Chinese graduate student who had lived with the Kings, introduced Mr. King to Robin Li, Baidu’s founder.
"
Baidu, like most ChiCom firms is based on the industrial model of the Third Reich. Military and top intelligence officers are given fiefdoms much like concentration camps to extract as much as they can from the work force under a 72 hour work week. The "Schindler's List" companies run by People's Liberation Army Colonel engage in 'competition' with Western firms.
Mr. King and his kind are praised in Republican Circles as important 'Job Creators.' We, the bottom feeders dare not question these lofty perches or even
bring up the forbidden subject of taxation.
The idea is that there is an incredible disconnect between the reality and what is perceived by the weatlthy in this age. Building this country, in the Guilded Age, was once seen as the absolute priority of the ruling class. Destroying this society is the sole focus of great wealth in America.
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But how, exactly, do they do this? Here's a quick look at the 4 biggest loopholes corporations use to get out of paying taxes
There is much more to the story than this never ending "party line". Sure Greece has some problems but this entire "bail out" is about the banks, their SPVs and the sovereign CDSes. The government, in cahoots with banks, GS, sold the nation down the river about a decade ago.
“Yes, let’s go ahead and abandon the euro. We don’t want any more bailout money. We agree to default on our debt. We understand there are going to be some very hard times ahead for Greece. We will be much poorer, barely able to afford the necessities of life. We’ll have to band together as neighbors and as a nation just to survive. But we’ll make it through this. And at the end, we’ll be free – free of the banks, free of the politicians, free of the corporations. We’ll be able to create our own destiny.”
Intriguing idea - collapse the Greek welfare state in a single spasmodic act. No more loans once they default - so they will have to live hand to mouth. It's shock treatment for sure as the government abandons unsustainable transfer and pension programs that have been propped up for decades through borrowing.
Keep in mind that interest on Greek debt under the rescue proposal would be around 5-7% of GDP compared to government spending nearly ten times that so default doesn't really solve the problem of economic sustainability and a devalued currency for a country that imports much of what it needs would make for a considerable increase in the cost of living.
I'm guessing that we'd see even more riots under the deeper austerity cuts that would be required under this approach - cuts that would likely be permanent. On the other hand it might bode well for the country longer term so long as the politicians didn't kill any hope for economic recovery by trying to prop up the welfare state through confiscatory taxation that would keep away economic investment. Chasing away equity investment on top of chasing away lending would really kill the prospects for recovery.
Must have been an interesting meeting he had with those two. What hold do they have over him?
Riots in the street so far haven't swayed Papandreou, and complete loss of credibility in front of everybody in Greece and Europe doesn't seem to matter to him. His majority in parliament has slimmed to next to nothing but that's of no concern. Now he expects the opposition, which is calling for his resignation, to work with him to sell the austerity package which he claims they supported all along.
The powderkeg in all of this is the fact that the people are absolutely helpless in the face of these bailouts and imposed service cuts. People must be asking themselves what other recourse do they have if democracy is such a sham?
Wunderbar, just what we need, more plans to fire workers in the last area of any chance for growth. Lovely.
Just said small biz plans on cutting work force overall
Surprise, surprise, the prime minister rescinded the referendum for the people to say if they want this "bail out" or not, also reneged on his offers to resign, claims the opposition party is for the bail out so there is no reason to resign and....
invited the opposition party to help him "sell" the bail out.
Wow, Democracy in action eh?
I am not sure what's going on with all this but it seems to me the real problem may have been admitting countries like Greece to the Eurozone.
Hasn't Greece had a terrible history of financial irresponsibility, corruption and rampant and determined tax dodging and scandalous levels of public payroll padding? So why on Earth did Germany and France and other financially stable countries yoke their fate to Greece and the other shaky countries? Wasn't that idealism gone mad for the sake of no borders and one currency, and to prop up some of the formerly Communist countries while thumbing their noses at Russia (while denying they were doing so)?
More to the point, aren't we here vulnerable to what happens there? Do we want a multinational double-dip recession that may include us, too, started by the default of Greece?
I am not so willing to be sympathetic to the Greek government and people at this point, until I know what problems they may cause. Also I think their prime minster was a real weasel to make a deal on his own and then go back home and say, Oh, I can't make a deal on my own, the Greek people have to approve it.
It is no secret most people just choose to ignore it. Most companys along with our government are built on the "Pyramid Scheme"! The company that I work for gives out annual "wage adjustments" which are %wage increases to help offset the rising cost of insurance. Well, it doesn't take a rocket scientist to figure out that if they give the same % across the board that upper management is getting their insurance paid for in full. On that same note why don't they price insurance and tax rates as an "across the board rate"?!? I for one am tired of carrying the RICH. For years I was told "go to school so you can get a decent job." Now you can't afford it. And if you can, good luck finding a job when you are done. I guess when this country falls on its but I will have to go back to farming and hunting for my food. I bet those at the top of those pyramids wouldn't know anything about that!!
By the troika’s own admission (the leaked assessment doc of 2 weeks ago), the medicine isn’t working. So who can blame Greece for taking a page out of the Occupy Wall Street handbook? http://bit.ly/uBk7Pa
This is the most to the point and objective article I have read (to date) on the Economic Crisis situation in Greece. All points from all aspects are covered, well done.
They compared the pensions of Greeks to the pensions of Americans to claim this is why Greece should accept the deal and implied they are just greedy bastards because American pensioners will pay the Greek bill.
How ridiculous is that? To claim the reason Americans have had their retirement raided to the point the average isn't enough to even be comfortable, that somehow Greece should do the same?
(ABC News also had another "plant" story where some guy building a website, who in the vein of "Pets.com" somehow got over $1.5million in VC funds for a friggin' basic website/auction site that I think there are 10 (?) already, is somehow being "denied" access to the U.S. for this great "job creation machine". Disgusting, two fake news stories in one half hour, or maybe I missed the rest).
Glad to see you wrote about this and are back for this calls out the reality the people have no say in any of this and if they try, well, they are just greedy bastard trouble makers.
it's the new form of democracy: voting with your pocketbook. no need for pesky elections and such silly things associated with old school D. this new form combines free markets with free people. Everybody wins! YAY!
While this post is fun, there is some strong truth behind it. If Congress had tried to reduce debit fees through legislation, never would have happened. Move your trillions, one thousand dollars at a time, out of bank's deposits......then, magically, something happens.
You may not have any money, but together, we still do have money and money is power in America.
There are certain issues where the polling comes in at 80% of Americans want some issue stopped. Outsourcing is one of them. Another is they don't want more bad trade deals.
Yet, various fractions, esp. multinationals with their "press trolls" and cable noise try to spin it all as if America is divided and want policies they in fact, do not.
In terms of "Populist rants" here on EP, an economics blog that is non-partisan, we've been advocating for policies to be enacted when you see polling that hits the 80% of Americans want x. I mean come on, the only ones stopping us are Congressional leadership and the administration (puppets on a string to lobbyists).
To find an American made jean, see this table list.
Wrangler is better than Levi, who abandoned America so why buy them, they are not American at all anymore....
but Wrangler is "not by much" better in terms of using American workers, American supplies, materials.
ABC news has been running a series called "Made in America" and it's a great news series. They have discovered a host of U.S. made products that are either the same cost or cheaper than a lot of imports who claim they must offshore outsource to be competitive. Right, in that mantra were true, ABC news could not so easily find made in the USA products that are cheaper and better made.
So, even on consumer choice, it's hard to find out good information and the WTO, bad trade deals are making that worse. Literally they can no longer put "Dolphin safe" on a can of tuna anymore.
So, the real agenda is to destroy the United States. MNCs don't like nation-states, they are inconvenient for their agendas, except to play nation-states off of each other for tax, asset hiding and currency exchange purposes.
Multi nationals complain that they must hire green card holders for less - or outsource altogether - because they must compete with 3rd world companies. WHY?
American made products should have an advantage through tariffs? How did multi nationals manipulate trade policy to make off shore goods more competitive than our own?
Who the hell is representing us? -- RIGHT... nobody.
And that is what has to stop. Corporations are NOT people, not citizens and that Supreme court decision is the beginning of a new fight.
Off shore goods should be taxed at the border - PERIOD.
Sure, Levis' will come home to California... IF, and only if they are allowed to poison OUR rivers blue like they do in Mexico and the Philippines. It's part of their business model now.
Levi's are a hundred bucks a pop... the new profits go to management and to a lesser extent stockholders. Their busines model REQUIRES slave labor and pollution.
Why do we allow this?
Levi's should be taxed at the border for their crimes against workers and the environment.
Without a full out revolution, we will continue to be slaves to the world economy. America for Americans... it's the new mantra... corporations be damned.
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