Sepecifically the heretical "Say it and Claim it" or "Blab it and grab it" theology of 1980s and 1990s TV Evangelism.
It was a scam when Oral Roberts claimed that God would kill him unless he raised more than a million dollars- and it's a scam now as they print money in an attempt to "save the rich".
-------------------------------------
Maximum jobs, not maximum profits.
That is what has been done so far. In the process of doing this we essential have kicked the can down the line instead of facing real problems.
We are facing a reduction in the living standard for most Americans. The one area we had a chance for real change is being watered down and probably rendered more of a liability than anything - health care reform. We don't hear much about taking on the lobbyists/special interests in Washington much any more.
There is another crisis that is upon us that has not been picked up by traditional media and Washington establishment: retirement security. I still believe in change but we have to have leadership in Washington that still believe in it as well.
agree with the concept. The problem is taking on entrenched special interests. At some point if we want true reform that will help working class Americans we have to take on and beat the special interests.
The Obama Administration is not willing to do that despite the rhetoric from the campaign.
Just to throw out that pension funds operate differently from 401K's.
Pension funds provide direct investment in companies whereas 401's fund stocks or mutuals funds.
GM was funded by several pension funds (being a blue chip company). As I understand how the creditors will be paid in the BK, these pensions will be hit hard.
...that by almost any other standard the reported job loss would be considered VERY BAD. Talk about spinning. I'll believe we are in a recovery when I see an employment number with a + (plus) in front of it.
"....under Capitalism, man exploits man. Under Communism it's just the opposite..." ---John Kenneth Galbraith
Naked Capitalism is having guest posts, right now from Pension pulse, who is a watchdog on pensions.
On EP, we have barely breathed a mention on retirement in the United States (and lack thereof) so if you are up on this topic area, a good overview post on the stats of pensions, 401ks and how basically the people who are about 55 or younger don't have jack shit to retire on...
would be a great, informative piece. (hint, hint).
Please login to your account before posting. I'm pretty sure you have one and I'm getting burnt out of having to moderate your comments in the queue. Come on dude, you comment on here almost every day, login and then not only can you post immediately you can also track your comment sto see who responded.
The Senate is different from the House and there were a whole group of Senators who would only vote for the watered down one. So, he went back to committee. That is why you have the scribbled Grassley notes, they were talking to other Senatorial offices to see what they could get passed and scratching the bill as they went on those meetings.
What I do not believe is fair in that article is they blame Shelby, who clearly is royally pissed at this entire bail out as well as the Fed, and they are not pointing to the other committee members as well as the entire Senate as being the real bad guys.
That's how I understand what happened, they were negotiated with the full Senate and then going back to committee and watering it down in order to get something passed.
I dunno, guys. I find it very, very hard to believe that it's news to Intel that China has always planned to move up the value chain, or that they're shocked, shocked that China is committing industrial espionage. And, as you say, we know their investments in new FABs in the U.S. have nothing to do with patriotism and "making the U.S. competitive". (My first thoughts when I read about those plans a couple of months ago was imagining what their PR b.s. was going to look like, if and when the public discerns that the new plants are non-citizen staffed.) Yes, nation-states do matter, even to these people. The problem is, these people think that nation-states matter only to promote and protect their interests, regardless of how much damage their "interests" do to the group of people to whom their ostensibly connected. And as it stands now, they're right.
The article above is correct although it confuses who's who. Grassley is the one who proposed the watered down amendment to the Sunshine act -S604, introduced by Sanderson, which was word for word with hr 1207. But like it said above, the powers that be knew they couldn't stop it so they got their stooges Grassley and Shelby to water it down. Interesting how their trying to play it off like Grassley is the juggernaut. Hopefully, people are smarter than that.
that someone had brought up the ADP data on job losses a day or so ago, then found with a search that it was none other than our correspondent himself, Mr Oak!
There's a whole bunch of outrage on econ-fin issues over at correntewire.com, including the wonderfully titled "If you pump more blood into a zombie, it's still a zombie."
by putting our future in the hands of Economists, we impose many limits. Numbers do not reveal all the secrets to success. Numbers are only one way to measure.
It's dawning on them that China isn't interested in being a cheap labor destination but is building up their own advanced manufacturing and has a long term strategy, including committing massive economic and industrial espionage to get it.
Duh, I don't know how many economists and experts warned on this very issue for over 15 years.
So, keeping all manufacturing, the entire chain within the United States, protected is a way to protect one's intellectual property and business.
Sepecifically the heretical "Say it and Claim it" or "Blab it and grab it" theology of 1980s and 1990s TV Evangelism.
It was a scam when Oral Roberts claimed that God would kill him unless he raised more than a million dollars- and it's a scam now as they print money in an attempt to "save the rich".
-------------------------------------
Maximum jobs, not maximum profits.
course?
I don't believe in a government that produces shadow stats so that the people can feel good.
Heck they are printing money as if it grows on trees.
That is what has been done so far. In the process of doing this we essential have kicked the can down the line instead of facing real problems.
We are facing a reduction in the living standard for most Americans. The one area we had a chance for real change is being watered down and probably rendered more of a liability than anything - health care reform. We don't hear much about taking on the lobbyists/special interests in Washington much any more.
There is another crisis that is upon us that has not been picked up by traditional media and Washington establishment: retirement security. I still believe in change but we have to have leadership in Washington that still believe in it as well.
agree with the concept. The problem is taking on entrenched special interests. At some point if we want true reform that will help working class Americans we have to take on and beat the special interests.
The Obama Administration is not willing to do that despite the rhetoric from the campaign.
Calculated Risk has at least 2 articles on the failures of our current Treasury Alphabet Soup
FDIC PPIP LLP DOA? Part II
NY Fed President on PPIP
The suspension of M2M made PPIP unnecessary. It seems that the FASB was at cross purposes with the Treasury.
I wonder what is the first case? Probably when private business separate from the business of the state.
When Mark-to-Market was suspended, the banks had no incentive to sell at lower prices. No wonder it has failed.
Regardless of all the recent happy news re: Recession has Ended - the U.S. economy has not fully de-leveraged. This must occur at some point.
Just to throw out that pension funds operate differently from 401K's.
Pension funds provide direct investment in companies whereas 401's fund stocks or mutuals funds.
GM was funded by several pension funds (being a blue chip company). As I understand how the creditors will be paid in the BK, these pensions will be hit hard.
...that by almost any other standard the reported job loss would be considered VERY BAD. Talk about spinning. I'll believe we are in a recovery when I see an employment number with a + (plus) in front of it.
"....under Capitalism, man exploits man. Under Communism it's just the opposite..." ---John Kenneth Galbraith
Naked Capitalism is having guest posts, right now from Pension pulse, who is a watchdog on pensions.
On EP, we have barely breathed a mention on retirement in the United States (and lack thereof) so if you are up on this topic area, a good overview post on the stats of pensions, 401ks and how basically the people who are about 55 or younger don't have jack shit to retire on...
would be a great, informative piece. (hint, hint).
Pension Funds are handed over to VC groups or IBanks to manage.
I actually just had a debate with someone who is in the biz over this.
Cerberus got the shaft in the Chrysler BK deal.
I expect even more pensions to implode over the GM BK.
Please login to your account before posting. I'm pretty sure you have one and I'm getting burnt out of having to moderate your comments in the queue. Come on dude, you comment on here almost every day, login and then not only can you post immediately you can also track your comment sto see who responded.
The Senate is different from the House and there were a whole group of Senators who would only vote for the watered down one. So, he went back to committee. That is why you have the scribbled Grassley notes, they were talking to other Senatorial offices to see what they could get passed and scratching the bill as they went on those meetings.
What I do not believe is fair in that article is they blame Shelby, who clearly is royally pissed at this entire bail out as well as the Fed, and they are not pointing to the other committee members as well as the entire Senate as being the real bad guys.
That's how I understand what happened, they were negotiated with the full Senate and then going back to committee and watering it down in order to get something passed.
I dunno, guys. I find it very, very hard to believe that it's news to Intel that China has always planned to move up the value chain, or that they're shocked, shocked that China is committing industrial espionage. And, as you say, we know their investments in new FABs in the U.S. have nothing to do with patriotism and "making the U.S. competitive". (My first thoughts when I read about those plans a couple of months ago was imagining what their PR b.s. was going to look like, if and when the public discerns that the new plants are non-citizen staffed.) Yes, nation-states do matter, even to these people. The problem is, these people think that nation-states matter only to promote and protect their interests, regardless of how much damage their "interests" do to the group of people to whom their ostensibly connected. And as it stands now, they're right.
The article above is correct although it confuses who's who. Grassley is the one who proposed the watered down amendment to the Sunshine act -S604, introduced by Sanderson, which was word for word with hr 1207. But like it said above, the powers that be knew they couldn't stop it so they got their stooges Grassley and Shelby to water it down. Interesting how their trying to play it off like Grassley is the juggernaut. Hopefully, people are smarter than that.
I've got one on that, because the focus is on party and individuals and not policy and details.
What is that phrase, "principles before personalities"?
I also think all Politicians need to sign campaign pledges in their own blood, in the hour of midnight...
in more seriousness by contract and if they violate that contract they are vulnerable to a civil lawsuit for breach of contract.
that someone had brought up the ADP data on job losses a day or so ago, then found with a search that it was none other than our correspondent himself, Mr Oak!
There's a whole bunch of outrage on econ-fin issues over at correntewire.com, including the wonderfully titled "If you pump more blood into a zombie, it's still a zombie."
We have war memorials honoring the dead and fallen in service to the country.
Wouldn't it be nice to see a Labor memorial to all of those who were killed while trying to fight for labor rights, unions and the middle class?
All of their names engraved in stone, their stories nearby?
I think the list is fairly long.
by putting our future in the hands of Economists, we impose many limits. Numbers do not reveal all the secrets to success. Numbers are only one way to measure.
It's dawning on them that China isn't interested in being a cheap labor destination but is building up their own advanced manufacturing and has a long term strategy, including committing massive economic and industrial espionage to get it.
Duh, I don't know how many economists and experts warned on this very issue for over 15 years.
So, keeping all manufacturing, the entire chain within the United States, protected is a way to protect one's intellectual property and business.
Duh. Seems nation-states matter after all.
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