Sorry…but the Obama tax increase is just not that bad, even for the hugely affluent San Francisco Bay Area.Â Story is here
Sorry…but the Obama tax increase is just not that bad, even for the hugely affluent San Francisco Bay Area.Â Story is here
This video describing the banking/credit crisis is very very easy to understand.Â 15 minutes and you will understand the basics of why banks are bankrupt…why investors lots trillions and why homeowners ran from their homes.
Ummmm there is one thing that it neglects.Â Many of the things that are described in this video were outlawed…yes…ILLEGAL from the time of the Great Depression until the mid 90s when they were legalized again by….guess who!!!!Â ugh.Â SO the video is here…the explanation is simple and you won’t be in the dark as to how things work…well worked and now failed us as they inevitably would.Â Video is here
While you are at it….there is ANOTHER EXCELLENT video explaining how money is made.Â NOT the cash in your wallet…paper money is for chumps made by the US Mint.Â I’m talking about International Monetary kinds of big money.Â Debt makes money….not a printing press.Â Video is here
After you see these 2 videos you will really get a better understanding how the financial system of the US works.Â Both videos are easy to understand with the second one taking a little bit of time to watch but well worth it.Â
Seems this shows Reaganomics did not do the nation as a whole so good.Â Story is here
From my friend JK in LA
“God, please save us from your followers.”
Eat shrimp with yummy shrimp cocktail sauce and you just bought yourself a one way ticket to a place where ALL jammies are flammable.Â Story is here
This is pretty obvious for anyone who was paying attention but the Bush tax cuts did nothing but help the rich get richer.Â See story here
Helping to highlight the fact that tax cuts are not net gainers but net losers….
The significant majority of these tax cuts consist of policies that return little bang for the buck, yielding less than $1 of short-term economic demand for each $1 of cost.Â Altogether, Zandiâ€™s study indicates that the average bang for the buck from the tax cuts has been 74 cents.Â (In other words, each dollar of tax cuts has produced only 74 cents of added economic demand the next year.)
It is good to see that those opposing Obama are so level headed!!!Â See video here
Not the budget for the US Govt but rather to just run Congress.Â Story is here
Paul Krugman’s website highlighting his columns and blog.Â Site is here
When will we hit bottom with this economic free fall?Â George Soros does not see a bottom yet.Â Story is here
The Conservatives do not look at spending in a Conservative way at all.Â Story is here
Each light represents a city.Â Interesting video is here
Regardless the circumstances the US of A is bound by treaty to prosecute possible War Crimes.Â Story is here
Interesting graph and question of what it means.
I wonder if it is the draining of the cash out of the system which results in the economic downturn in that they are not truly building businesses but rather they are investing in stocks with their money.Â We are told when people invest in stocks that helps business…welll if I owned JoeWo Inc and put 100 shares out there on an IPO with NASDAQ and sold them all at $10 per share that is $1000 that I just raised.Â Now how does the fact that my stock went to $20 a share the next day help me….how does it hurt me that my stock went to $0 per share on day 3 other than the fact it would get delisted and I would have a hard time re-listing it possibly.Â hmmmmÂ I have never understood how that worked to the benefit of JoeWo Inc but rather solely to the benefit of the person hat bought the stock and then sold it for a profit or loss.Â If there is a benefit to me at JoeWo Inc then it is investing…if it is solely to the benefit of the person buying and selling my stock then it is gambling legally.Â hmmmm
So if they are investing in stocks that only benefit them then the Trickle Down Theory of Economics is a bunch of crap because they were only benefitting themselves.Â Nothing was trickling and the benefit and profit was held by few which could very well cause an economic catastrophe in our nation which is based on many have a respectable amount as opposed to a very small # being engorged with all.
So who is the real terrorist?Â Story is here
America was hours away from total financial collapse and the inevitable political collapse as a result last fall
Video is here
The banks that failed has 4 execs take $121 million in bonuses and 700 execs made at least $1 million each in bonuses.Â How is this not Corporate Socialism at its worst?
Brave New Films releases a short on the financial crisis
Video is here
So the moral of the story is-Â Remove regulation and you have a sweet steroid induced overheated runup for a decade and then inevitably the nation almost implodes completely…taking the rest of the world with it as bad debts which were bad to begin with are sold to suckers.Â The US financial industry has been artificially kept too strong strong and this is the result.Â The 30s Great Depression is a mirror of this debacle. Wait until oil is no longer traded with US Dollars….that will be our final nail in the coffin.
Cuomo said four executives at Merrill alone received bonuses totaling $121 million. Nearly 700 employees received a bonus of at least $1 million. The letter did not disclose names of the bonus recipients.
Cuomo said in the letter that Bank of America, whose deal to acquire Merrill closed Jan. 1, was apparently complicit in the move to award bonuses before Merrill’s fourth quarter earnings were announced.
Soooo Merrill Lynch’s bonus handout was moved up before the earnings (loss) report came out and the need for the company to be bailed out.Â Now some companies have moved their dishing out of Options and Stock to another fiscal period to make the books look better but those companies have been charged with crimes as that is called cooking the books.Â So how is the advancing of bonus payments not the same as moving of Options to another fiscal period for whatever reason.Â Isn’t this also cooking the books and isn’t this also worthy of a criminal investigation?
MoveOn.Org has a place where you can send a message to the banking leaders who are going to Congress.Â Here is the message I sent them.
America does not believe you are being a good citizen nor are you acting in any sort of fiduciary way with our money.Â The repeal of the laws put in place after the Great Depression were repealed in 1995 allowing the Derivative based Casino Gambling excursion you have led us on resulting in millions of people losing houses and jobs.Â You are bad citizens in that you care not for the masses but yourselves only.Â However the word “shame” has been removed from your lexicon only to be replaced by the word “greed”.Â Acquiring personal wealth is all you care about resulting in the loss of personal wealth by others.Â If there is a justice system left in America as opposed to a court system as the two are often times mutually exclusive, you will be forced to live for one full year at minimum wage with nothing more than the clothes on your back and a paycheck that does not stretch to the end of the month.Â Since acquiring wealth is the only thing you understand, how about living without it for a full year as a sentence?Â If there is justice this is what you will see.Â America says shame on you…but that is whistling in the wind…and now we must clean up your mess as you created wealth for you and a mess for us and the world.
What will come of this?Â Obama won a Grammy for his reading of his own book ya know.Â Sounds like some parts of the book were sliced up and put here.Â I am sure this is going to be the next Reverend Wright issue that will be replayed 100000 times on FOX.Â Story is here
Paul Krugman knows history and he knows economics…he won the Nobel Prize for it.Â Video is here
Big companies that may fail in a big way in 2009.Â Amazing!Â Story is here
They are picking too many nits but ehh it is kind of fun to do so…Â Story is here
In 1960, the ratio of CEO pay at large companies to that of the president of the United States was about 2 to 1. In 2007, it was more than 20 to 1. In 1980, executives at large companies made about 40 times what the average worker made. Last year, CEOs made about 360 times more than the average worker.Â Â Story is here
On any given day during the current congressional debate over the economic recovery plan, chances are good that Rush Limbaugh or Sean Hannity will say something false about the administration’s or congressional Democrats’ efforts to pass a bill. And they do not promote these falsehoods in isolation; they are often promoted concurrently with each other and with Republican members of Congress. President Obama reportedly chastised congressional Republicans for “listen[ing] to Rush Limbaugh,” and, as Media Matters for America has pointed out, Limbaugh has also demonstrated a proclivity for listening to — and parroting — congressional Republicans. For his part, in consecutive shows on January 30 and February 2, Hannity hosted Sens. Mitch McConnell, Tom Coburn and John McCain on his radio show, and on February 4 he hosted Rep. Mike Pence on Fox News. As a result, Hannity and Limbaugh have created an echo chamber of Republican talking points and misinformation criticizing the economic recovery plan. And given the acknowledgment by some national journalists that they pay attention to Limbaugh and Hannity, it follows that they care what the two are saying about the stimulus — CNBC anchor Erin Burnett said as much about Limbaugh, touting his op-ed in The Wall Street Journal on that topic as “serious.”Â Story is here
I am going to stand on sidewalks and collect change for the poor bankers that might have to live on $500,000 per year.Â Maybe I will adopt one like they do with the orphans in Africa.Â Story is here
Ironic how the “Right to Life” does not include food, health care, housing, education.Â It is only your right to be born according to them.Â Once you flop on the floor in a gloppy mess get up and pull yourselves up by your bootstraps!Â Story is here
I think Paul Krugman should simply play his Nobel Prize winning Economist card here.Â Story is here
Maybe Bud Selig and Major League Baseball?
TORONTO, ONTARIO – As some people search for the correct place to put
the blame for the economic crisis gripping the world, there’s a pretty
good explanation going around. I first heard it on the Brian Copeland
Program, and its origins seem to date back at least to a Gail Sheehy
column in Vanity Fair in 2000. The thesis? It’s all Bud Selig’s fault.
Back in 1994, Bud Selig, then owner of the Milwaukee Brewers, was the
acting commissioner of Major League Baseball after the owners had
ousted Fay Vincent in 1992. It was thought that the owners were going
to find a permanent commissioner and George W. Bush, then an owner of
the Texas Rangers, was a potential candidate. As reported in Sheehy’s
column, Bush wanted to be the commissioner of baseball more than
anything else in his life, and when he was approached by Texas
Republicans about running for governor, he initially put them off,
thinking that he was in line to become the commissioner.
Bud Selig had other ideas–he wanted the permanent position for
himself. The temporary commissioner held on to his post during the
1994 strike, had himself elected permanent commissioner in 1998, and
now will apparently serve until 2012–if he even steps down then,
since he had previously agreed to step down in 2008.
As revealed in Vincent’s 2002 autobiography, it was only after former
commissioner Vincent told Bush that Selig had no plan to propose Bush
as commissioner that the future president took the governor’s race
seriously. Bush defeated Ann Richards in the Texas governor’s race in
1994, went on to run for president in 2000, and we all know what
happened from there.
Had Bud Selig stepped aside to let George W. Bush take the job he had
always wanted, that of commissioner of Major League Baseball, he would
not have run for governor of Texas. He would not have been in a
position to run for president in 2000. World history would have been
different in the ensuing eight years.
So, need someone to blame for the economy? Try Bud Selig.
This book review provides a quick outline of who is to blame for the Mortgage Meltdown however in the review they did not include the Republican anti regulatory thought of the time which allowed banks and investment houses to meld and become a steroid fed circle of cash in and cash out coupled with the thought of making a dollar of profit despite what logic and history say.Â That lack of regulation that existed since the Great Republican Depression of the 30s was implemented back then for a reason…so this could not happen again.Â that regulation was repealed and guess what…it happened again. Many right wingers believe all regulation is bad.Â Regulation often times stops your accelerator from going all the way to the floor because when you floor your engine for an extended period of time you destroy your engine.Â America’s engine is destroyed now because we went to fast for too long without the regulation of having to ease back.Â Â Story is here
hahahahah- Do they even hear what they are saying?????Â Their companies are in ruins.Â This quote below proves that the pay scale for executives is not merit based and is more of a handout of Socialistic type rather than a Capitalist “work for your dollar” mentality.Â A Communistic workplace would have all making the same whereas a Socialistic workplace would simply be a handout not based on work but possibly a graduated pay scale and those getting the top not necessarily earning it.Â Despite my lack of knowing a hard and fast line between this being a Socialist or Communistic scenario these people making this money (as they do not earn it) are Socialists expecting to live on the giving flow of the treasury of the company as opposed to the outcome of a sweat based workplace.Â This quote….just…amazes me….and WHAT is a compensation consulting firm?!?!?
â€œThat is pretty draconian â€” $500,000 is not a lot of money, particularly if there is no bonus,â€ said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. â€œAnd you know these companies that are in trouble are not going to pay much of an annual dividend.â€
Mr. Reda said only a handful of big companies pay chief executives and other senior executives $500,000 or less in total compensation. He said such limits would make it hard for the companies to recruit and keep executives, most of whom could earn more money at other firms.
â€œIt would be really tough to get people to staffâ€ companies that are forced to impose these limits, he said. â€œI donâ€™t think this will work.â€
What has been the biggest spending bill in history?Â Video is here