i like Paul Craig Roberts for his unflinching truth telling, though i often wonder how he squares his current populism with his past history of implementing Reagan's trickle down economics which is so surely one of the nails in the coffin of the middle class.
That being said, i find his voice is a welcome one as we watch our political economy dissolve.
I must admit to also admiring Paul Krugman's analysis. He seems to have been especially correct with respect to the current crisis starting in 2008.
The one thing I don't understand about Mr. Krugman is his relentless support of "free trade", by which i mean the trade agreements such as NAFTA and MFN with china that have exacerbated the dismantilinig of the middle class along with trickle - down - economics.
If someone on this blog understands Professor Krugman's defense of "free trade" i would love to hear it b/c i don't understand his explanations.
I'd also like to commend this blog for posting Bud Meyers. I ran across his blog about a year ago or so, maybe less and found his passionate writing to be very enlightening.
the change from chained 2005 chained dollars to 2009 chained dollars is larger than i would have expected; i'll have to keep this in mind next time i write about it..
Very amusing, let's label Joy an economic activity. Animal spirits and behavioral economics anyone, where is the GDP in getting America to set their alarm clocks, is that next?
On a more serious note, to really dig into the NIPA is a long term study and as it was, I did quite a bit of digging to write this article, but by no means is this written in stone or complete, for the details are still missing, not fully understood.
I imagine we will soon have all sorts of white papers, analysis from Academia on these new additions, or I would hope so, for counting corporate offshore outsourcing activities as U.S. domestic economic activity is just a slap in the face, never mind wrong but sorting out the methods on R&D is research.
just to clarify, a "foreclosure sale" is a euphemism for a home seizure; it's an auction where nothing is actually sold, the title is simply transferred to the bank's REO inventory..
those represent the first legal action; not all are completed (ie, maybe the father in law steps in & pays it off)....but if you added the monthly totals (you'd have to extrapolate the early crisis years) and subtracted the current foreclosure inventory, you'd have something close to the total...
a rough approximation: 250 K foreclosure starts a month for 4 years = 12 milllion; another 200K a month for a year is another 2.4 million...so we have something on the order of 14.4 million foreclosure starts, minus the 1.5 million who are still in the process (notice the national average number of days that a foreclosed property has remained in the foreclosure process is now up to 860 days as of this report) leaves 12.9 million who had foreclosures started and exited the process either through a forclosure sale or by paying the overdue mortgage off...
Now if only I could pay my bills with these imaginary new dollars or income, but the same old rules apply to me. The folks in charge are desperate to continue the Ponzi, lies, fraud, globalization, outsourcing, political scams, corruption, whatever, they will resort to anything. it's obvious to anyone now that cares. What's that? A 9 year old made a rug or soccer ball overseas that an American bought at some point in the American's life? And the product was made using a needle that was at some point transported on a tire made in the US? Great, chalk it up to US GNP. Let's say the tire and labor and soccer ball are worth $1,000,000 to the US because why even bother with reality or logic anymore. And because the American got some use and joy out of the soccer ball or rug, let's say that "joy" is worth $5,000,000 because it sounds good. Whatever happens, never, never, never revise false stats down (unless it's inflation and unemployment) and never say things are getting worse for American citizens. That simply won't do. Full speed ahead, let's see if we can break that iceberg in two, we're the Titanic after all, and we can't sink!
The type of fraud committed by companies and CEOs is amazing, and ever-increasing. Over 30 years, I have seen such fraud in the diagnostics industry-from performing unnecessary tests that doctors do not order, to CEOs like Quest's Ruskowski, a novice with no experience, and performs basic cholesterol tests that any lab could do, and ends up earning $2 million A MONTH!
He took $12.7 Million for a 8 month stint last year, and will continue to get atleast that much, while his company neither contributes to healthcare in any significant manner, nor provides any valuable service to physicians. Except for defrauding medicare/and other government payors, these companies would be broke!
anybody who follows this blog knows something is extremely amiss with the US economy. Again for ppl who do not know, i am an employed engineer living in connecticut, not an economist and therefore speak on behalf of the "populist" side of this blogs tittle.
basically, the way i see US economic history is this:
Founding of the country TO 1940 = plutocracy
1940 - 1980 = democratic middle class
1980 TO present = return to plutocracy
I am aware this is a gross simplification, but nonetheless i believe the overall picture is correct.
We have the executive class and even on six figure salaries people barely making rent in Silicon valley. Now you know why they demand so many foreign guest workers. They are the ones unaware they will be having to live 4 to an apartment to survive economically in the region.
Is that pathetic? Salaries that most of America think are the American dream not covering rent, never mind the idea of owning a home is long gone in that area.
Wholesale inventories were low and will reduce Q2 GDP. We're going to wait to give a figure until retail inventories are released for June, August 13th. Wholesale inventories are about 25% of all inventories, non-farm, so to get a guesstimate on how much this will negatively impact GDP if they decline we'll try to get closer to all nonfarm inventories. Finally, don't forget that farm inventories boosted Q1 GDP and we will not have those in the monthly release.
Their little threat reminds me of Cleavon Little when he held himself hostage in Blazing Saddles. And When he was successful his parting line was "--and they are so dumb!"
And if the FHFA and their silliness has any sway here, perhaps they (the town) are.
Instead the FHFA needs to bugger off, the homes will be taken and resold. Prices will decrease, private money will see the value, and the homeowners will be free of the Ponzi scheme our country is continuing to fund to the tune of $85 billion a month, to keep the assets of the wealthy inflated, on the backs of hungry kids, bridges that are breaking, and a trillion dollars in students loans that will wind up being paid to the thieving bankers by taxpayers. In yet another bailout.
Step back a moment. Does anyone really believe that having noncitizens perform non critical skills work in the U.S. when we have 14% un and under employment makes sense? Wouldn’t it be much more beneficial to America’s economy if U.S. citizens filled the work needs and we didn’t fill jobs with guest workers until U.S. unemployment was very very low? Of course. What needs to be done is simple but impossible with the current political structure. Politicians are comfortable supporting low pay lobbyists and slipping in favorable legislation into omnibus bills that are rarely read. They know voters aren’t engaged. And it never hurts to position one's self for lots of votes from the future guestworker votes.. Employers don’t give a damn about anything but their profit. Why should they invest in training and automation when the Government will provide a continuous flow of cheap labor. Never mind that the amount paid for this cheap labor will fail to be sufficient to meet one’s needs. The result is the out of control expansion of entitlements to pay for what the cheap labor employers don’t. Why work when you get along for doing nothing. So who gets screwed? No surprise that it is the hard working tax payer. For starters a few straight forward items would go a long way towards solving this disgrace: 1) Institute a foolproof national id card stating your immigration status. Everyone has to have one or be immediately deported, 2) You need approved status to be employed. Huge fines to employers that don’t comply. 3) Children born in the U.S. can only classified as citizens if at least one parent is a U.S. citizen. 4) Gang members, abd serious criminals are out without question. All of them. 5) Legal changes allowing any law enforcement officers to verify immigration status. How else can we identify and deport future illegals and avoid another repeat? 6) Development of a several step program that includes granting long time “good citizen” illegals green card status quickly followed by other means to sort the keepers from the deportables. 7) Provide keeper illegals permanent green card status for a lifetime. That's enough as they will have already been given the gift of a lifetime. Last but not least . . . no one should be critical of those taking great risks to find a better life. The majority of the illegals are are trying to contribute but for many the cards are stacked against them. Unfortunately the U.S. cannot maintain any acceptable standard of living if we open the doors to the world's 1.3 billion people living in absolue poverty.
This is one part of Obama's proposal that makes a hell of a lot of sense. Of course it eats into the profits of the banks, refusing refinance because the home is underwater. Tisk, tisk, protect those bank profits at all costs, even though the banks ruined millions of people's lives by foreclosure and then sold the properties for pennies on the dollar (which they can use for additional reimbursements, fees and tax purposes).
The rule is the banks will always get carte blanche and the America people the shaft.
Last week Richmond, California initiated a plan to use eminent domain to purchase mortgages of residents who owe more than their homes are worth and refinance homeowners into new loans with lower principal and interest.
On Wednesday the FHFA issued a statement warning that it would consider legal challenges to any local or state action that sanctions the use of eminent domain to restructure loan contracts that affect FHFA's regulated entities.
I doubt the law has changed but about 7 years ago, if the spouse went into a nursing home, they could seize all assets, then declare that spouse bankrupt and get Medicaid in addition to Medicare.
This put the perfectly healthy spouse into poverty for they seized their assets to "pay for" the nursing home.
Add to that the "body farm" approach these nursing homes and "long term care" facilities have, controlling people with dangerous drugs which have torteous side effects and it makes me think anyone aging to make sure they have a cyanide capsule available, just as spies and military did in order to avoid torture and a worse death by the enemy.
Glad you wrote about this, it's one of the most horrific things going on in America and in spite of outrages coming to light, nothing every changes, no doubt in part due to Big Pharma lobbying.
Thanks for pointing out the speech. God,I will never forget those claiming Obama was this savior and me talking about "Triumph of the Will" propaganda techniques to no avail.
We lived through exactcly what Obama is proposing once, when the thieving banks had control, and they destroyed the economy and brought tragedy to tens of millions of people. The only place you could buy a home was from them, and then only under onerous terms of 1/2 down and the balance within 5 years. FDR created what became Fannie Mae, and for the next 40 years or so that institution became the bank of the people. By providing one of the major vehicles of middle-class savings when the banks walked away from us, it helped the middle-class of this country escape poverty and create wealth that is never possible when one can't own property. It brought them self-respect, and took them out from under the boot heel of the landlord
Around 2000 the largest banks saw their chance again, and, betraying the trust we had given them began to wring that profit from the lives of tens of millions of American families, leaving a wake of tragedy that we are still living with today, that may yet bring this great country a financial ruin that few are prepared to deal with.
And now Obama wants to hand them the keys to the kingdom. Again.
In 1548 Étienne De La Boétie wrote a document entitled "The Discourse on Voluntary Servitude" in which he observed that, because there were so many people, the tyrant only had the power the people gave up. Contrary to those who use what Congressman Allen West calls their "Weapons of Mass Distraction", the government is not the embodiment of the tyrant today. They are just water carriers for the real tyrants, the largest banks and the greediest and grasping of corporations. They have no wealth you didn't give them, and they have no power except that which you will not vote to keep.
But they will have your home, your future, and your servitude if Obama, instead of reforming and returning Fannie Mae to the reason it was created, shackles us and returns us to the bankers.
The tyrants will only have power if we give it to them.
Thank you for the article, and your work, Robert. It's important.
It's true. Just kidding, there's no way piss could beat the sh*t coming out of Greenwich and NYC these days. Or could it? Waste material for thought. Let me consult phone hacker-in-chief's/child murder investigation hamperer's newspaper and Forbes for the latest hedge fund returns (including their fees) - oh my, they all suck.
Regarding hedge funds, I love them because they think we're all morons that ain't got that readin', 'riting, 'rithmatic down. Excuse me, kind Sir, why should I pay you 20% of any profits and 2% of assets under management to some pudgy, lazy, douche kicking it in the Hamptons and Greenwich when I can beat that crap (even without fees) in a Vanguard index fund? Because hedge fund managers couldn't afford coke and whores without my cash? Well, good enough then, forgive my rudeness while I go broke. Oh, pensions force me to invest in that bullsh*t because my pension fund managers are also on the take? Yippee! And the DOJ and SEC and State AGs also suck it? Awesome! F IT ALL!
Lobbyists? The only question anyone with a clue needs to ask is how can someone or some group that espouses "no government" or "limited government" pour millions into the government and politicians to get the government to do (or not do) what they want. "But everyone does it, if we didn't, we'd suffer." Have you ever heard such whining? STFU, it's tragic. Wow, bold stand, real courageous, Gandhi would be proud of such heroism (probably not). Hypocrisy, idiocy, double standards, etc., etc. And I'm a product of public education - therein lies the problem. Damn you Jefferson and Paine and everyone else I read about, I needed lessons from Murdoch and Bloomberg and private corporate academies.
But I think the biggest question and issue of the day is this: when are Dimon and Corzine being released from USP Florence? Because I think the millions of people they ripped off need to have a voice. Wait, what? They never went in? They are living like the .1% still? Hmmm, I wonder, does crime really pay? And hard work and honesty and the American Dream are lies? Wow, who could have known?
i like Paul Craig Roberts for his unflinching truth telling, though i often wonder how he squares his current populism with his past history of implementing Reagan's trickle down economics which is so surely one of the nails in the coffin of the middle class.
That being said, i find his voice is a welcome one as we watch our political economy dissolve.
I must admit to also admiring Paul Krugman's analysis. He seems to have been especially correct with respect to the current crisis starting in 2008.
The one thing I don't understand about Mr. Krugman is his relentless support of "free trade", by which i mean the trade agreements such as NAFTA and MFN with china that have exacerbated the dismantilinig of the middle class along with trickle - down - economics.
If someone on this blog understands Professor Krugman's defense of "free trade" i would love to hear it b/c i don't understand his explanations.
I'd also like to commend this blog for posting Bud Meyers. I ran across his blog about a year ago or so, maybe less and found his passionate writing to be very enlightening.
the change from chained 2005 chained dollars to 2009 chained dollars is larger than i would have expected; i'll have to keep this in mind next time i write about it..
Very amusing, let's label Joy an economic activity. Animal spirits and behavioral economics anyone, where is the GDP in getting America to set their alarm clocks, is that next?
On a more serious note, to really dig into the NIPA is a long term study and as it was, I did quite a bit of digging to write this article, but by no means is this written in stone or complete, for the details are still missing, not fully understood.
I imagine we will soon have all sorts of white papers, analysis from Academia on these new additions, or I would hope so, for counting corporate offshore outsourcing activities as U.S. domestic economic activity is just a slap in the face, never mind wrong but sorting out the methods on R&D is research.
Aren't the same thing as starts. Also Corelogic doesn't monitor all homes, it's a subset.
So we can extrapolate but this should be a hard number available and I couldn't find it.
just to clarify, a "foreclosure sale" is a euphemism for a home seizure; it's an auction where nothing is actually sold, the title is simply transferred to the bank's REO inventory..
a fair approximation of how many foreclosures have taken place over the recent crisis years can be made with the data from the LPS (Lender Processing Services) Mortgage Monitor; this one is for June: http://www.lpsvcs.com/LPSCorporateInformation/CommunicationCenter/DataRe...
i've captured the loan count data from page 28 of the pdf; monthly foreclosure starts are here: http://rjsigmund.files.wordpress.com/2013/08/junelpsloancountdata2.jpg
those represent the first legal action; not all are completed (ie, maybe the father in law steps in & pays it off)....but if you added the monthly totals (you'd have to extrapolate the early crisis years) and subtracted the current foreclosure inventory, you'd have something close to the total...
a rough approximation: 250 K foreclosure starts a month for 4 years = 12 milllion; another 200K a month for a year is another 2.4 million...so we have something on the order of 14.4 million foreclosure starts, minus the 1.5 million who are still in the process (notice the national average number of days that a foreclosed property has remained in the foreclosure process is now up to 860 days as of this report) leaves 12.9 million who had foreclosures started and exited the process either through a forclosure sale or by paying the overdue mortgage off...
Now if only I could pay my bills with these imaginary new dollars or income, but the same old rules apply to me. The folks in charge are desperate to continue the Ponzi, lies, fraud, globalization, outsourcing, political scams, corruption, whatever, they will resort to anything. it's obvious to anyone now that cares. What's that? A 9 year old made a rug or soccer ball overseas that an American bought at some point in the American's life? And the product was made using a needle that was at some point transported on a tire made in the US? Great, chalk it up to US GNP. Let's say the tire and labor and soccer ball are worth $1,000,000 to the US because why even bother with reality or logic anymore. And because the American got some use and joy out of the soccer ball or rug, let's say that "joy" is worth $5,000,000 because it sounds good. Whatever happens, never, never, never revise false stats down (unless it's inflation and unemployment) and never say things are getting worse for American citizens. That simply won't do. Full speed ahead, let's see if we can break that iceberg in two, we're the Titanic after all, and we can't sink!
The type of fraud committed by companies and CEOs is amazing, and ever-increasing. Over 30 years, I have seen such fraud in the diagnostics industry-from performing unnecessary tests that doctors do not order, to CEOs like Quest's Ruskowski, a novice with no experience, and performs basic cholesterol tests that any lab could do, and ends up earning $2 million A MONTH!
He took $12.7 Million for a 8 month stint last year, and will continue to get atleast that much, while his company neither contributes to healthcare in any significant manner, nor provides any valuable service to physicians. Except for defrauding medicare/and other government payors, these companies would be broke!
in a "foreclosure cluster", how interesting, as in timing is everything and shadow inventory.
anybody who follows this blog knows something is extremely amiss with the US economy. Again for ppl who do not know, i am an employed engineer living in connecticut, not an economist and therefore speak on behalf of the "populist" side of this blogs tittle.
basically, the way i see US economic history is this:
Founding of the country TO 1940 = plutocracy
1940 - 1980 = democratic middle class
1980 TO present = return to plutocracy
I am aware this is a gross simplification, but nonetheless i believe the overall picture is correct.
thank you
We have the executive class and even on six figure salaries people barely making rent in Silicon valley. Now you know why they demand so many foreign guest workers. They are the ones unaware they will be having to live 4 to an apartment to survive economically in the region.
Is that pathetic? Salaries that most of America think are the American dream not covering rent, never mind the idea of owning a home is long gone in that area.
Wholesale inventories were low and will reduce Q2 GDP. We're going to wait to give a figure until retail inventories are released for June, August 13th. Wholesale inventories are about 25% of all inventories, non-farm, so to get a guesstimate on how much this will negatively impact GDP if they decline we'll try to get closer to all nonfarm inventories. Finally, don't forget that farm inventories boosted Q1 GDP and we will not have those in the monthly release.
Their little threat reminds me of Cleavon Little when he held himself hostage in Blazing Saddles. And When he was successful his parting line was "--and they are so dumb!"
And if the FHFA and their silliness has any sway here, perhaps they (the town) are.
Instead the FHFA needs to bugger off, the homes will be taken and resold. Prices will decrease, private money will see the value, and the homeowners will be free of the Ponzi scheme our country is continuing to fund to the tune of $85 billion a month, to keep the assets of the wealthy inflated, on the backs of hungry kids, bridges that are breaking, and a trillion dollars in students loans that will wind up being paid to the thieving bankers by taxpayers. In yet another bailout.
Step back a moment. Does anyone really believe that having noncitizens perform non critical skills work in the U.S. when we have 14% un and under employment makes sense? Wouldn’t it be much more beneficial to America’s economy if U.S. citizens filled the work needs and we didn’t fill jobs with guest workers until U.S. unemployment was very very low? Of course. What needs to be done is simple but impossible with the current political structure. Politicians are comfortable supporting low pay lobbyists and slipping in favorable legislation into omnibus bills that are rarely read. They know voters aren’t engaged. And it never hurts to position one's self for lots of votes from the future guestworker votes.. Employers don’t give a damn about anything but their profit. Why should they invest in training and automation when the Government will provide a continuous flow of cheap labor. Never mind that the amount paid for this cheap labor will fail to be sufficient to meet one’s needs. The result is the out of control expansion of entitlements to pay for what the cheap labor employers don’t. Why work when you get along for doing nothing. So who gets screwed? No surprise that it is the hard working tax payer. For starters a few straight forward items would go a long way towards solving this disgrace: 1) Institute a foolproof national id card stating your immigration status. Everyone has to have one or be immediately deported, 2) You need approved status to be employed. Huge fines to employers that don’t comply. 3) Children born in the U.S. can only classified as citizens if at least one parent is a U.S. citizen. 4) Gang members, abd serious criminals are out without question. All of them. 5) Legal changes allowing any law enforcement officers to verify immigration status. How else can we identify and deport future illegals and avoid another repeat? 6) Development of a several step program that includes granting long time “good citizen” illegals green card status quickly followed by other means to sort the keepers from the deportables. 7) Provide keeper illegals permanent green card status for a lifetime. That's enough as they will have already been given the gift of a lifetime. Last but not least . . . no one should be critical of those taking great risks to find a better life. The majority of the illegals are are trying to contribute but for many the cards are stacked against them. Unfortunately the U.S. cannot maintain any acceptable standard of living if we open the doors to the world's 1.3 billion people living in absolue poverty.
This is one part of Obama's proposal that makes a hell of a lot of sense. Of course it eats into the profits of the banks, refusing refinance because the home is underwater. Tisk, tisk, protect those bank profits at all costs, even though the banks ruined millions of people's lives by foreclosure and then sold the properties for pennies on the dollar (which they can use for additional reimbursements, fees and tax purposes).
The rule is the banks will always get carte blanche and the America people the shaft.
Last week Richmond, California initiated a plan to use eminent domain to purchase mortgages of residents who owe more than their homes are worth and refinance homeowners into new loans with lower principal and interest.
On Wednesday the FHFA issued a statement warning that it would consider legal challenges to any local or state action that sanctions the use of eminent domain to restructure loan contracts that affect FHFA's regulated entities.
http://www.huffingtonpost.com/peter-dreier/fhfas-ed-demarco-kissing-_b_3...
I doubt the law has changed but about 7 years ago, if the spouse went into a nursing home, they could seize all assets, then declare that spouse bankrupt and get Medicaid in addition to Medicare.
This put the perfectly healthy spouse into poverty for they seized their assets to "pay for" the nursing home.
Add to that the "body farm" approach these nursing homes and "long term care" facilities have, controlling people with dangerous drugs which have torteous side effects and it makes me think anyone aging to make sure they have a cyanide capsule available, just as spies and military did in order to avoid torture and a worse death by the enemy.
Glad you wrote about this, it's one of the most horrific things going on in America and in spite of outrages coming to light, nothing every changes, no doubt in part due to Big Pharma lobbying.
Thanks for pointing out the speech. God,I will never forget those claiming Obama was this savior and me talking about "Triumph of the Will" propaganda techniques to no avail.
We lived through exactcly what Obama is proposing once, when the thieving banks had control, and they destroyed the economy and brought tragedy to tens of millions of people. The only place you could buy a home was from them, and then only under onerous terms of 1/2 down and the balance within 5 years. FDR created what became Fannie Mae, and for the next 40 years or so that institution became the bank of the people. By providing one of the major vehicles of middle-class savings when the banks walked away from us, it helped the middle-class of this country escape poverty and create wealth that is never possible when one can't own property. It brought them self-respect, and took them out from under the boot heel of the landlord
Around 2000 the largest banks saw their chance again, and, betraying the trust we had given them began to wring that profit from the lives of tens of millions of American families, leaving a wake of tragedy that we are still living with today, that may yet bring this great country a financial ruin that few are prepared to deal with.
And now Obama wants to hand them the keys to the kingdom. Again.
In 1548 Étienne De La Boétie wrote a document entitled "The Discourse on Voluntary Servitude" in which he observed that, because there were so many people, the tyrant only had the power the people gave up. Contrary to those who use what Congressman Allen West calls their "Weapons of Mass Distraction", the government is not the embodiment of the tyrant today. They are just water carriers for the real tyrants, the largest banks and the greediest and grasping of corporations. They have no wealth you didn't give them, and they have no power except that which you will not vote to keep.
But they will have your home, your future, and your servitude if Obama, instead of reforming and returning Fannie Mae to the reason it was created, shackles us and returns us to the bankers.
The tyrants will only have power if we give it to them.
Thank you for the article, and your work, Robert. It's important.
It's true. Just kidding, there's no way piss could beat the sh*t coming out of Greenwich and NYC these days. Or could it? Waste material for thought. Let me consult phone hacker-in-chief's/child murder investigation hamperer's newspaper and Forbes for the latest hedge fund returns (including their fees) - oh my, they all suck.
Regarding hedge funds, I love them because they think we're all morons that ain't got that readin', 'riting, 'rithmatic down. Excuse me, kind Sir, why should I pay you 20% of any profits and 2% of assets under management to some pudgy, lazy, douche kicking it in the Hamptons and Greenwich when I can beat that crap (even without fees) in a Vanguard index fund? Because hedge fund managers couldn't afford coke and whores without my cash? Well, good enough then, forgive my rudeness while I go broke. Oh, pensions force me to invest in that bullsh*t because my pension fund managers are also on the take? Yippee! And the DOJ and SEC and State AGs also suck it? Awesome! F IT ALL!
Lobbyists? The only question anyone with a clue needs to ask is how can someone or some group that espouses "no government" or "limited government" pour millions into the government and politicians to get the government to do (or not do) what they want. "But everyone does it, if we didn't, we'd suffer." Have you ever heard such whining? STFU, it's tragic. Wow, bold stand, real courageous, Gandhi would be proud of such heroism (probably not). Hypocrisy, idiocy, double standards, etc., etc. And I'm a product of public education - therein lies the problem. Damn you Jefferson and Paine and everyone else I read about, I needed lessons from Murdoch and Bloomberg and private corporate academies.
But I think the biggest question and issue of the day is this: when are Dimon and Corzine being released from USP Florence? Because I think the millions of people they ripped off need to have a voice. Wait, what? They never went in? They are living like the .1% still? Hmmm, I wonder, does crime really pay? And hard work and honesty and the American Dream are lies? Wow, who could have known?
Pages