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Posts Tagged ‘Bernard Madoff’

What goes aroung comes around. Am I supposed to feel sorry for victims of Bernard Madoff because the media elite says so?

Well, I don’t! This article essentially pisses me off.

Savings lost to Madoff, elderly forced back to work

Yes. I’m making assumptions. I believe what I write next applies to not everyone who was affected by Madoff’s pure example of what the stock market truly is (a giant ponzi scheme), but at least 60% of them.

The ill gotten gains of many have been taken in the Madoff debacle in a commensurate manner in which they were so called earned.

This hard working former business owner crap is just that, crap.  A bird’s eye view of how exactly the owner of the pest control company in the article was able to lose $750,000 to Madoff after enjoying returns of 10% to 12% over the 15 years of his retirement, is provided by coming to an understanding of the capitalists use of cheap labor.

Odds are that none of the employees that this guy employed over the time he ran his business were able to retire with his company. Let alone, have enough disposable income to invest in the stock market as this guy probably did. Why you ask?

Because this owner was more then likely reaping the benefits of the Republican Ideology of cheap labor.

When you hear the mantra of low cost, cheap labor mentioned in the media, it undoubtedly is coming out of the mouth of a Republican. The criticizing of the pensions that millions of Americans have earned and are receiving is another example of the protectors of American Business (Republicans) ideology that provides a contrast to what happened to the owner of the pest control companies example of the Republican retirement plan.

Long have these types championed the approach of the Pest Control owner as the example of a “better” pension plan (investing in the stock market) then the traditional American retirement pension.

WE ARE NOT CHINESE. WE ARE NOT INDIAN. WE ARE NOT MEXICANS! The fact that these emerging countries are emerging because of their vast quantities of “cheap labor” is no reason for Americans to want to mimick them.

The facts of the matter is that essentially, the underclass of past American workers have in fact lived similar lives of those in these countries who are now fueling their countries growth.

NONE OF THOSE COUNTRIES HAVE A MIDDLE CLASS. In fact, I believe when it’s all said and done, this will be the most remarkable thing written about the USA’s democracy; It has been the only form of ISM (Capitalism, Socialism, etc…) that created a viable middle class.

You can’t have a viable middle class with cheap labor being the mantra of your social ideology. Organized labor brought forth a viable middle class. The US Business structure did not do this on it’s own. Without the advent of organized labor, American companies would have continued to look like the pest control owners company;  keep labor costs low, so that the owner could amass enough personal wealth over the time he or she owns the company, so that they could ultimately lose $750,000 to a bloke like Bernard Madoff’s ponzi scheme, or in the biggest ponzi scheme of them all, the New York Stock Exchange.

So what these people have to pick up  a broom and work after years of living posh retirement lifestyles off the backs of thousands upon thousands of Americans that were paid cheap labor rates during the heyday of these types of companies. Those very workers that Pest Control Owner Guy made his money off of during his younger years have had to continue to work “pushing a broom” during the 15 years that Pest Control Owner Guy was living the good life.

What goes around comes around…

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