The Economic Populist
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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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On NAFTA - I told ya so gives me no joy
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Bank of America: Too Big to Obey the Law
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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
- 184042 reads
On NAFTA - I told ya so gives me no joy
- 15343 reads
Bank of America: Too Big to Obey the Law
- 93727 reads
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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well, just keep writing reality here and this too shall pass.
http://agonist.org (front page)
http://agonist.org/wallstreetvmainstreet
Today Bonddad announced his debut on the New York Times blog.
This is a case study in corporate media and public opinion. It seems that Bonddad's "Chicken in every pot" meme has got the attention of the media mogels who don't want the masses to really understand what's been happening to them.
My hat's off to Bonddad. A lawyer specializing in international issues; he knows where his bread is buttered and he knows how to get it.
For those of us who were perplexed about his "What me worry" interpretation of the current economy, now we know what he was thinking - getting into the wall street in crowd.
Early on after the invasion, there were reports of a semi trailer filled with I believe ten billion dollars that mysteriously vanished.
It was news for about a week then it disappeared as well, I've never heard another peep about the money if it were found (yeah right)or not.
My guess is that it found it's way into the bank accounts of the original conspirators.
A candidate for Governor of Michigan said yesterday on Ed Schultz that he wants to start a state bank. He said they have more than enough money on account at, I think, Morgan Chase to start the bank. Michigan is now red-lined by Wall Street banks. Small businesses can not get necessary money to keep going. Start-ups are also unable to get funding. This may also be a Main Street movement in other states.
Have you ever watched Robocop? Especially Robocop 2? OCP, the mega-corporation owns the police because the city (detroit) is so helplessly in debt to, yes, OCP, that the city has had to sell off it's assets to OCP just to keep the lights on while OCP wants to tear the city down and build it's corporate city on top "old detroit".
That's where we are heading man. Corporations will be the new gov'ts. As the white-haired chief executive of OCP (also an elderly white man) says "anyone can own stock in OCP, it's the new form of democracy".
I have to not be available too much today, tomorrow, possible next day from EP, with two incredible pieces today, I'm hoping others take up the challenge!
Wall Street has a monopoly on customers, they think. So they treat them like crap, over and over. Main Street has to deliver a product or service that people will find useful. Main Street values ongoing customer relationships and works hard, the smart folks, on relationship management. That means everybody makes out most of the time. When there's a problem and Main Street is honest with customers, there's cooperation and vice a versa.
Oh yea, Wall Street is a government supported, protected, subsidized scam that afflicts the nation and world with relentless schemes that produce death and destruction, just to start.
I did some research in anticipation on writing about the battle between Wall Street and Main Street but other things came up. Here they are. May be something useful here for you and assembled. The Thomas Hoenig (KC Fed President) is first rate.
The Financial Foundations of Main Street, Thomas Hoenig, KC Fed President
Interview with Hoenig
Kaufman: Wall Street Reform That Will Prevent The Next Financial Crisis (03.11.10)
Senator Kaufman: Fraud still at the center of Wall Street
Nationalize the Banks the True Capitalist Way
A Tale of Two Bankers
Obama doesn't "begrudge" Dimon, Blankfein over pay
Unfortunately it will take a lot more pain before people are motivated to stand up and do what is necessary to turn this country around. We are victims of our own successes. We have become fat, lazy, and complacent. We know the country and its future are being sold out by banksters and corrupt politicians, and yet as long as we are comfortable for the time being, we allow the insanity to continue. When the s-h-t-f, we will deserve it.
Normally I would let Bonddad go without a comment, but he's been so active in the happy talk spin that it really annoys me. I've gotten into the habit of visiting his blog whenever really bad economic news comes out, just to see how it will find a "silver-lining". Sometimes the news is so bad I think "There's no way he'll spin this into good news." And yet Bonddad finds a way to do it. He's as bad as CNBC.
Plus, his call-out diary got under my skin.
What a concept? Vietnam, Gulf War I, and Gulf War II were not in our national interest. Vietnam and II ruined the economy in the aggregate. But the elite made out like bandits. Add the oil and currency manipulations in the 70's that killed off industrial growth and you have a planned method to enrich financial speculation. No wonder we're screwed.
The real cost of Iraq will be about $2.5 trillion according to Joseph Stiglitz. Time to round up some crooks, take the money back, and give them some time to reflect.
If you're one of the lucky ones that's not underwater and has a good, stable job that pays the bills with a little left over, instead of a 401(k) or an IRA, it seems to me like one of your best investment options is to make overpayments on your mortgage (assuming you've paid off any higher interest debt). While past performance is no indication of future returns on that dead money in your 401(k), past interest payments to your mortgage holder are very good indicators of future interest payments to them.
This is already getting reads, but I think it should make it to our "Vox Populi" as one of the most read posts ever, it's so damning.
If you share this on other sites, in email, that's how that happens. We get some articles "going viral" and they get passed around through email and other sites.
This article is also what I see, probably if EP has a theme, beyond all things $$, it would be if you destroy the middle class, you will destroy the United States economically.
and then this. How many incidents do we have of our money, our tax money, being thrown away, sent overseas, corruption and waste?
This is something those "tea party" people have a point on and I can see why they would just say "smaller government" for when you see the government just handing over your money to super rich banksters, or corruption and stuff like this, who cannot get angry?
It's not an issue of "big" vs. "small" government to me, it's this, just not acting in the national interest or using public funds for the public good.
midtowng you never cease to amaze me.
I learned a lot from this article and I think your minor but important note about bonddad important. It's a shame to see knowledgable and hardworking analyist like him and NDD in such an egoistic and ideological rut. NDD is especially out of control. His language towards so-called "gloom and doomers" is approaching histerical.
Some people ya just can't reach,then ya get what we had the past year and a half,which is the way they want it,which is the way they gonna get it.I don't like it anymore than you do.......Kinda like American Idol Frank Rutherford
It's kind of like "you take me down, you're comin' with me" incapsulated.
midtowng you have outdone yourself this time in writing a classic manifesto.
Folks, consider sharing this one. I am.
I share your pain.
Unfortunately, the pain isn't quite sufficiently apparent for the overall American population to rise up and cast down the banksters.
We can only it happens without a Mussolini, Hitler, Lenin, or Mao - or that conditions will have to deteriorate to that severe a level for real "Change We Can Believe In" to happen.
I'm just a reader, who collects the economic related comedy that cracks me up for others to see.
I should say, finding funny stuff when hunting on keywords "unemployment despair funny" is not an easy find! ;)
My coffee tastes better with your cartoons.
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