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Posts Tagged ‘Wall Street’

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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And that’s without tax breaks for the rich. Investors made money. The middle class prospered. THERE WAS EVEN WELFARE REFORM!

Republican rule has brought economic disaster to the middle class and the rich (other then the Oil Companies/investors) has even lost money due to an actual drop in the Dow Jones average to close to 9200 points today.  When Clinton left office January 2001, the Dow average was 10587.

They simply do not know what they are doing when it comes to leadership. However, they are great complainers about the supposed incompetence of Democrats whenever they are power. No doubt they will become even better ones during an Obama Administration.

Never mind what just transpired the past 8 years.

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We are getting screwed! The Oil industries are reveling in the Palin/wall street debacle, reaping billions on profits at the pump. How come no one is talking about this? The free market at it’s best i guess. let it run free, get out the way and let the market decide what’s the best price for oil.

Demand? Well O.K., it’s fallen because the U.S. is in crisis mode financially. But a 15 cent drop in the average price of a gallon of gas is not a 40% drop.

US gasoline under $3.50 for first time in 6 months

If these bastards can raise the price 40% because of a Hurricane, they can lower it commensurate to the drop in the cost of a barrel of oil. But they won’t. Why? BECAUSE THERE IS NO REGULATION THAT SAYS THAT HAVE TO DROP THE PRICE.

Remember, these are Dupya’s and John McCains’ boys were talking about. They don’t play that regulation crap.

When will this country wake up! If Sarah Palin has said “I’ve taken on big oil”, then why haven’t you made this (current gas prices) an issue during your campaign speeches? BECAUSE THEY WERE WRITTEN FOR YOU BY PEOPLE WHO ARE PAID FOR BY BIG OIL!

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as the exorcism of the Christian Conservatives grip on the US takes place right before your eyes. Yes, the revolution is being televised in this current stage of the presidential election. Just like a Southwest Airlines commercial, Sarah Palin’s head might as well spin around 360 degrees as she displays the devilish ways of the conservative right.

It should make for interesting media, watching an actual exorcism of supposedly god fearing public officials who have no problem lying to the U.S. right in their face.

Current media sources have made it possible via broadband internet and cable/satellite TV to make it difficult for the same people who brought us George W. Bush and Dick Cheney to scare the American public into voting another set of liars (John McCain and Sarah Palin) into the White House. But you know they’re going to give it their best shot (Sarah Palin shoots wolves, but actually uses a crackpot minister to deal with the Witches).

Good for the U.S. and good for the world. (It’s even good for you rich folks AND dumb McCain/Palin supporters)

This all at the same time allows the crackpot religious nuts to rear their heads and get their Linda Blair on via Fox News and their personal blogs.

Like this nut job:

The Last American President

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Does anyone even mention the “Contract With America” anymore? Trust me, if the shoe was on the other foot, todays media would be all over the Democrats asking, ” Just how has that contract turned out?

The mantra of Republican ideology since the days of Reagan has been “less government, more prosperity”. Twenty years ago through ONE month ago, you could not have had a conversation with a Republican about the economy without them saying “there’s too much government regulation/involvement in our lives. If government gets out the way, businesses can do what they need to do to keep the economy growing.”

For the past two years, the Democrats have had a slim majority in Congress. They can’t even pass anything strong enough to override a Presidential veto. Prior to this time frame, the first six years of Dupya’s Presidency was controlled by Republicans who had a decided majority in Congress. They passed bills that were shaped by their ideology of “less government, more prosperity” at their leisure. The only tool Democrats had  against the Republican majority during that time was the use of the filibuster. To take this even further, Congress was also controlled by Republican’s during the entire 8 years of the Clinton Administration.

Today, Republicans (though the minority in Congress) don’t even have to use a filibuster on Capitol Hill. They don’t need it. They have enough votes at anytime to vote down anything the Democrats bring up. They have passed legislation that has given tax breaks that along with the war in Iraq, has driven the budget deficit to record proportions. The Bush Administration has put political appointees in every administrative position in all government agencies that work to prevent the proper functioning of these agencies. The following has been examples of the Bush Administrations efforts to deregulate the federal government without getting congress to pass any laws:

When Advocates Become Regulators President Bush has installed more than 100 top officials who were once lobbyists, attorneys or spokespeople for the industries they oversee.

Bush appointees censor scientists at government agencies

Bush Administration Political Appointee Reverses Endangered Species Protections for Nation\’s Wildlife

Bush administration under a cloud

Appointees Guarding The Henhouse

A Young Bush Appointee Resigns His Post at NASA

The mantra of less government regulation has been the drum that has been beat on by Republicans since Reagan. THIS WAS THEIR CONTRACT WITH AMERICA! Now they are saying that more regulation is needed and that it is just as much the Democrats fault as it is theirs that the country is nearing a “Great Depression”; but we’re not in a recession. WTF?

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Does anyone even mention the “Contract With America” anymore? Trust me, if the shoe was on the other foot, todays media would be all over the Democrats asking, ” Just how has that contract turned out?

The mantra of Republican ideology since the days of Reagan has been “less government, more prosperity”. Twenty years ago through ONE month ago, you could not have had a conversation with a Republican about the economy without them saying “there’s too much government regulation/involvement in our lives. If government gets out the way, businesses can do what they need to do to keep the economy growing.”

For the past two years, the Democrats have had a slim majority in Congress. They can’t even pass anything strong enough to override a Presidential veto. Prior to this time frame, the first six years of Dupya’s Presidency was controlled by Republicans who had a decided majority in Congress. They passed bills that were shaped by their ideology of “less government, more prosperity” at their leisure. The only tool Democrats had  against the Republican majority during that time was the use of the filibuster. To take this even further, Congress was also controlled by Republican’s during the entire 8 years of the Clinton Administration.

Today, Republicans (though the minority in Congress) don’t even have to use a filibuster on Capitol Hill. They don’t need it. They have enough votes at anytime to vote down anything the Democrats bring up. They have passed legislation that has given tax breaks that along with the war in Iraq, has driven the budget deficit to record proportions. The Bush Administration has put political appointees in every administrative position in all government agencies that workto prevent the proper functioning of these agencies.

When Advocates Become Regulators President Bush has installed more than 100 top officials who were once lobbyists, attorneys or spokespeople for the industries they oversee.

Bush appointees censor scientists at government agencies

Bush Administration Political Appointee Reverses Endangered Species Protections for Nation\’s Wildlife

Bush administration under a cloud

Appointees Guarding The Henhouse

A Young Bush Appointee Resigns His Post at NASA

The mantra of less government has been the drum that has been beat on by Republicans. Now they are saying that more regulation is needed and that it is just as much the Democrats fault as it is theirs that the country is nearing a “Great Depression”, no recession. WTF?

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