The Economic Populist
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BREAKING: Wall Street Mega-Merger!!!
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US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
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Ignoring the Big Picture/Disturbing Trend in Graphs
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The war on the middle class
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BREAKING: Wall Street Mega-Merger!!!
- 23370 reads
US oil supplies at a 36½ year low, SPR at a 39 year low; oil+products supplies at an 18½ year low
- 183944 reads
Ignoring the Big Picture/Disturbing Trend in Graphs
- 30889 reads
The war on the middle class
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The Golden Rule
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Will the NY Attorney General Bring Doomsday Charges Against Wall Street? If So, How Long Will He Survive?
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New York Post Claims Census Falsifies Unemployment Figures
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How Many Jobs Are Needed to Keep Up with Population Growth?
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VAT or Value Added Tax is Getting a Look in D.C.
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U3 and U6 Unemployment during the Great Depression
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The war on the middle class
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House discusses 401k/IRA confiscation
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Tax Cuts for the Rich Do Not Generate Jobs
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Re American inequality
My hypothesis (as I am from New Zealand) is that America is following similar policies to that in NZ – a major difference though is that while NZ discriminates on the grounds of social status at birth (see UK social class discrimination) the US discriminates re socio-economic status (wealth) but the latter has its origins not in the Corporations but rather the bureaucracy. NZ, the US and many other States are ‘going nowhere’ – ‘freedom and democracy’ is now going in reverse as more countries are becoming authoritarian. Who is going to take risks when countries are going nowhere and in fact there seems to be increasing internal conflict. There are a number in the establishment who know what the problem is but are too afraid to ‘speak out’ about it. While I can only be specific re NZ I think many States have a similar problem. Essentially, NZ’s problem is that there are many human rights omissions in our human rights law (the source is the global elites at the UN who design these instruments) – so it is not just our fault – but it highly favors the countries ‘sacred cows’ and for obvious reasons people do not want to discuss it. Much can be found in my book, ‘Freedom from our social prisons: the rise of economic, social and cultural rights’, Lexington Books, which is on the UN portal website despite my harsh criticism of the UN. I think the US should look at what is happening to small/med business (see the American Small Business League website and how federal contracts are been diverted to big business on a massive scale). In NZ I am promoting a radical, ideas-driven bottom-up development (an entrepreneurial/ethical human rights culture) which is part of the ethical approach I take to human rights, development and globalization but because it really shakes the status quo and people will only face the truth as a last possible resort they simply do not want to know – its far too unsafe. But this is very short, sighted better to go through the suffering of facing the truth and making changes than having it forced on us very likely after enormous people damage. I am Anthony Ravlich, Chairperson of the Human Rights Council Inc (New Zealand) ph: (0064) (09) 940 9658. And remember, the truth will set you free as long as you are not too afraid to be free and so too afraid of the truth.
The more I get into this, the more I forget what ones does not know or understand in deciphering economic reports, so I really appreciate this feedback. That's the agenda, at least for me, is to bridge between economics and explaining what the hell this crap means to the real world and real people.
To me, I think all of it isn't that tough to follow if someone just gives a bridge, a helper to explain what these terms mean.
Although when it comes to the Bureau of Economic Analysis, whew! Talk about some obscure accounting methods and adjustments! I wanted to just write up a little blurb, because I didn't quite believe corporate profits were soaring from other economic reports (although I knew it sure didn't match up or has decoupled from the unemployment rate), ya know, take an hour...
well, I ended up digging around in a host of BEA definitions trying to make sure what I was thinking I was looking at....was what I was looking at.
Honestly in terms of what really defines a domestic industry....hmmmmm, there is the basic definition that they are incorporated in the U.S. but is that just all there is to it? I think not with subsidiaries and FCDC (foreign controlled domestic corporation) and the Caymans.
The "rest of the world" is where it gets amazingly confusing because they are posting a net amount, but then you look at receipts payouts, different story, but this is common, trying to statistically separate out the U.S. domestic economy vs. globalization, even with U.S. based corporations.
I am not an economist. I have a one year IT diploma. You provide me with a vital service in breaking these numbers down. You give credence to this post by first explaining that these are not inflation adjusted numbers. They are still an abomination (my opinion).
I appreciate how you give the formula for GDP each time you write on the numbers. I appreciate you showing what imports do to that number every quarter.
I understand the bottom line, class warfare has been declared and the less well to do fight over crumbs. Please stay in the game. "The Economic Populist" is invaluable to me.
NCGs (new college grads) should be looking at offshore outsourcing, insourcing instead. It's not "old people" and waiting for a "position to open up", it's the BPO industry is booming in a lot of areas which were the entry professional positions, including legal, that instead of hiring NCGs corporations are offshore outsourcing the job or bringing in cheap labor on guest worker Visas.
Also, as manufacturing goes, there are a host of professional careers that go along with it. So, while people believe they are just offshore outsourcing "manufacturing jobs", manufacturing spawns a host of professional jobs.
It used to be the oldies mentored the newbies, now it's more the oldies training the cheap labor, often on guest worker Visas or offshore outsourced.
It's an astounding knowledge transfer outside of the U.S., just completely ignored too because that transfer happens with people, instead of a physical plant or piece of machinery.
removed "completely" for you are right, first they must file a complaint. Thank you very much for writing about this error in a comment. I try to be factual, even when writing Populist rants so if I make an error I am very grateful someone corrects it!
With the United States population increasing by one new person every 12 SECONDS it needs around 100,000 JOBS each month just support the increased number of working age population (this assumes that only 50% of the increased population is working age).
So even if the U.S. has no job losses for an entire year there will be higher unemployment because the number of people entering the work force is greater than the number leaving.
Great post! How about 10 years of no net new jobs in the private sector? We have loads of talent graduating from fine colleges and universities, ready and anxious to work. There strategies - wait for a job to open up. That means someone retires or passes away. No net new job expansion since Bush II. We're worse than disposable to the unimaginative and greedy ones. We're not even worth thinking about.
let me correct an incorrect statement in this article: it is not true that section 301 of the 1974 trade act allows the US to completely bypass the WTO. trade enforcement through the WTO is a 2 step process: in the first step you have to determine (through the WTO dispute resolution process) whether a GATT violation has occurred; if a violation is determined to have occurred in the first step, then in the second step the WTO panel (that made the determination in the first step) determines what the remedy/punishment is to be for the violation. what section 301 does is allow the US to bypass the second step: if a violation is determined to have occurred in the WTO dispute resolution process, then the US can then act on its own to retaliate.
It has long been my contention China seeks to exploit the "strategic flaw" in US capitalist society by using it's inherent openness & profit motive to give them better position to first understand then defeat their enemy. As the successor of the Communist Crown, I feel they see it as their sovereign duty to do away with capitalism, by any means necessary. Even if it means adopting "trade relations" with their opponent so as to bankrupt them. China is lending money with which the US Govt. & it's consumer class uses to purchase increasingly more Chinese goods at an artificially depressed price-point or credit to fund unpopular wars abroad without taxes at home. Eliminating US economic competitiveness thus undermining it's currency in the marketplace, is how China is now combating it's enemy.
So when is someone going to investigate rating agencies , and what is the punishment going to be if they are found to be the problem of the finanical system.
Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers
http://www.change.org/petitions/view/request_for_congressional_foreclosu...
"Although increasing numbers of courts are continuing to reject improper and fraudulent foreclosures, the Congressional Foreclosure Panel examination of mortgage services and foreclosure practices did not include foreclosure lawyers.
Lawyers are officers of the court; knowledge of applicable laws and civil procedure is not required from mortgage lenders. In states that require judicial foreclosures, lawyers are the ones who file lawsuits to seize and sell property; and lawyers are responsible for filing and recording foreclosure property deeds.
An investigation could prove helpful to sorting out whether improper and illegal foreclosure proceedings are linked to any self-dealing conduct disadvantaging lenders, investors, homeowners, and city governments. . .”
http://www.change.org/petitions/view/request_for_congressional_foreclosu...
You're missing the point, which Warren Buffett is trying to make. The really rich always make out well. The really rich made out well in the Great Depression of the 30's by buying blue chip stocks at depressed prices with their excess cash. When the value of those companies came back in the 40's the really rich became even richer. Warren Buffett did the same thing in the recent crash. Because of his wise investing he had liquid funds available and could buy Goldman Sachs cheap. He wasn't shy about it and publicly states that he is in a position to do things like that because he is rich.
The people who really run the Republican Party can afford to have total gridlock in Washington for the next 2 years--they have plenty of money. After eight years of Borrow-and-Spend Republicans during the Bush Administration, everybody is fat and happy and can even wait out an eight year Obama presidency. As long as they can fool some of the people some of the time.
Ireland must raise taxes and cut spending yet multi-national corporations will be exempt!
Ireland to Cut Spending 20%, Raise Taxes as Talks Climax
Hewlett-Packard is threatening Ireland. It appears HP could care less about Ireland ... it's all about their bottom line. Looks like the average worker loses again to the greedy multi-national corporation for it will be they who bear the pain of increased taxes and reduced spending.
Remember HP's threat to Ireland if you are thinking about purchasing a computer.
"Finance Minister Brian Lenihan will maintain Ireland’s 12.5 percent corporate tax rate, criticized by some European governments such as Austria. Hewlett-Packard Co., the world’s largest computer maker, said this week it may reconsider its investment in Ireland should the country raise its company tax rate as part of an aid accord."
MarketWatch. The guy was about to leave the country, to Taiwan. This is Primary Global Research LLC, an "expert" hedge fund.
I hope to write up a list of all of the foreign nationals doing insider trading to plain stealing industrial secrets. Over time, there have been many, especially in the areas of high tech. I don't know if this one is the case but from the China security report, we know and there is plenty of evidence China goes to extreme lengths to obtain corporate and even DoD secrets and so does India, abet a little less brazen.
give them all pinkslips lets go back to the 1800 and serve justice for horse thieves the way it should be hang em high people we get ripped off every day by the political machine we are taxed on just about everything we buy I.R.S is a legal way for them to steal from us where is our buddy who speaks for us oh yea every 4 years for pres. and 2 years on the other they will keep promising sunshine and then pee down our backs and tell us it is still sunny we the people need to vote out the crooks and get some honesty back in our government I know I made a joke
There are NO grownups in Congress, Economic collapse followed by civil war is what you will get. Remember gringo's, you share OPEN borders with a failed state in the making.
they WANT to privatize social security in order to STEAL from you. So, you do NOT want them to privatize social security and should DEMAND that promise is there for your future.
These special interests have been after social security to put those funds on the stock market for over 30 years. It's bullshit. It's not insolvent and easily fixed.
With some budget calculators, one can easily balance the budget with other methods. I did it in 5 minutes w/o touching social security or Medicare.
People, firstly this post was a hearing and due to it's popularity, a host of fear mongers are seemingly taking a congressional hearing as fact or a bill and that is not so.
Secondly, social security is YOUR money. People government in the U.S. is supposed to be for and by us. You need to demand that plus demand your right to your money you put in the SS fund....
not run around like beheaded chickens and proclaim you're going to do exactly what a bunch of special interests want you to. Out of fear you're running straight into the butcher's net.
and I had a chance to make out like a bandit by getting pre-spun guaranteed profits via Goldman Sachs and government bail outs...it's a no brainer, I'd do it.
But this pretense that somehow Warren Buffett isn't a ruthless, cutthroat billionaire like the rest of 'em, is a little old.
He's like a sociopath with a conscience, but only done as a press release. If he really wanted to help the middle class he'd bank roll a real presidential candidate or two. He could buy an election, he has enough money, he could out spend the U.S. Chamber of Commerce.
Until the recent recession awakened this country, the U.S. savings rate was less than zero (yep, it was negative). That means Americans were living beyond their means and saving nothing for retirement. My question is...why is that my problem and why should it require government intervention?
Some Americans don't have life insurance, should the government get involved? Some Americans don't get proper nutrition, some don't exercise, and some don't shower regularly....should Uncle Sam step in?
In August 2010, Treasury Secretary, Tim Geithner, made a public announcement that Social Security is now paying out more than it is taking in (it's bankrupt). Do you really want the Social Security Administration as the fiduciary for your retirement when they can't even manager their current respnsibilities for Social Security?
If a GRA plan holds such promise, make it voluntary to Op-In. As for me, I'll take my chances and manage my own financial future.
Yeah this Omaha jerk. He is the public face of the ultra billionaire rich. "he still lives in the same house he bought in 1953". "he's such a sweet old man. so plain spoken and down to earth."
WHAT B***SH**.
His act sounds more and more like the crap flung by a schiester(can't remember the spelling). A con man. Someone that sells you a beautiful story all the while he's got someone lifting your wallet while you watch him wield his magic. With him, you should always be waiting for that magic line "just give me your credit card number and everything will be fine".
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